The Colorado tech scene is very diverse and several tech companies across various industries secured funding last year, despite challenging market conditions. Collectively, Colorado’s 10 largest tech funding rounds raised a whopping $2.68 billion in 2022.
Fueled with fresh capital, these companies have big plans for 2023, including hiring sprees and product innovations. From artificial intelligence to healthtech and energy, read on to find out which companies raised some of the largest funding rounds of 2022.
Largest Colorado Tech Funding Rounds in 2022
- CoreSite
- Velocity Global
- Crusoe Energy Systems
- Pie Insurance
- DispatchHealth
- Pax8
- Guild Education
- Everside Health
- Meati
- Ocelot
#10. Ocelot: $117 million, September 28
After being bootstrapped for 19 years, Ocelot raised $117 million in its first-ever outside funding round. The company developed an artificial intelligence platform that answers questions about financial aid and other matters for college students. Ocelot said in September that the funding would go toward developing new features.
#9. Meati Foods: $150 million, July 21
Meati Foods is an alternative meat company based in Boulder that manufactures protein-packed cutlets made from mushroom roots. In July, the company closed a $150 million Series C round led by Revolution Growth. The round also included participation from Cultivate Next, a venture fund started by Chipotle Mexican Grill. Meati used the new funding to open a new production facility in Thornton.
#8. Everside Health: $164 million, July 25
Everside Health aims to convince more adults to visit a primary care doctor and does so by reducing wait times and the risk of unexpected medical bills at its facilities. Everside has 375 health centers in 34 states, as of July. In 2022, the company raised $164 million in growth equity from New Enterprise Associates, Oak HC/FT and Alta Partners, among others.
#7. Guild Education: $175 million, June 2
Guild Education is an edtech company that partners with employers and educational institutions to provide learning opportunities to employees. In 2022, the company closed a $175 million Series F round led by Wellington Management. TV star Oprah Winfrey also participated in the round.
#6. Pax8: $185 million, April 11
Pax8 became a tech unicorn in April after raising $185 million at a $1.7 billion valuation. The round was led by SoftBank Vision Fund 2. Pax8 is a cloud-native marketplace that provides technical support for over 200,000 businesses. The Greenwood Village-based company is currently hiring for several roles.
#5. DispatchHealth: $259 million, November 23
Healthtech company DispatchHealth provides comprehensive at-home care for patients in 34 states. In November, it raised $259 million in equity and $71 million in debt financing. Based in Denver, DispatchHealth said in November it would put the funds toward expanding its services into new markets. Optum Ventures led the equity round.
#4. Pie Insurance: $315 million, September 22
Pie Insurance provides workers’ compensation insurance to small businesses. Last year, Pie Insurance closed a hefty $315 million Series D round co-led by Centerbridge Partners and Allianz X. The company used its new capital to transition to a full-stack insurance carrier. Pie Insurance is currently hiring.
#3. Crusoe Energy Systems: $350 million, April 21
Crusoe Energy Systems closed a $350 million Series C round led by G2 Venture Partners back in April. Based in Denver, Crusoe is an energy company focused on reducing the environmental cost of digital services like data centers and blockchain mining. With the new funding, the company said it would to deploy Bitcoin mining and cloud computing infrastructure.
#2. Velocity Global: $400 million, May 18
Velocity Global was founded in 2014 and helps businesses onboard, manage and pay employees in the U.S. and abroad. In 2022, the company closed a massive $400 million round that increased its valuation sevenfold. The Series B round was co-led by Eldridge and Norwest Venture Partners. At the time of the raise, Velocity Global said the funds would be used to double its headcount.
#1. CoreSite: $570 million, October 27
CoreSite, a subsidiary of American Tower Corp., is a hybrid IT solutions provider based in Denver. In 2022, the company raised a $570 million equity investment from Stonepeak, an alternative investment firm focused on infrastructure.
