Colorado may soon see an influx of new jobs, thanks to five agreements with the Colorado Economic Development Commission. While residents await these hiring announcements, other local tech companies are making moves following fresh funding rounds or acquisitions. Catch up on the latest tech news with the Built In Colorado Weekly Refresh.
The EDC approved a job growth incentive for the creation of 745 new jobs. The Colorado Economic Development Commission (EDC) agreed to offer up to $6.94 million to five companies for creating these new jobs. The majority of the jobs will be created by a local electric aircraft startup that currently has nine employees but wants to add more than 430 members to its team. Other businesses approved for this incentive include a medical device company, an indoor farming company, a development and construction company and a startup that develops compostable hemp-based bioplastic molds. Public announcements from each company are expected to take place soon. [Denver Business Journal]
Ping Identity was acquired by Thoma Bravo. The acquisition of Denver-based Ping Identity was finalized last week. Thoma Bravo acquired the identity management solutions company for approximately $2.8 billion. The acquisition, which was first announced in August, demonstrates the importance of easy user experiences when it comes to identity security, Ping Identity CEO Andre Durand said in a statement. Ping Identity is no longer a public company. [PR Newswire]
Colorado Tech Quote of the Week
BioIntelliSense acquired Michigan-based AlertWatch. Denver-based BioIntelliSense, a clinical intelligence and health monitoring company, acquired the patient monitoring startup for an undisclosed amount. BioIntelliSense’s wearable device BioButton allows for the continuous remote monitoring of a user’s heart rate, respiratory rate, skin temperature and more. The acquisition aims to allow patients more access to continuous, personalized care and to reduce hospital stays and costs. The AlertWatch platform will soon be distributed to hospitals throughout the U.S. [Business Wire]
Stylo secured $3M. By using artificial intelligence and automation, Stylo can categorize customer messages and get customers help faster. The latest seed round was led by local VC firm Matchstick Ventures and will be used to grow Stylo’s platform and team, specifically its engineering, sales and marketing departments. [Built In Colorado]
