From government technology to cybersecurity solutions, Colorado-based companies pulled in new venture capital to fuel their next stages of growth. Find out how these companies are advancing their products and growing their businesses.
Top Colorado Tech Funding Rounds, November 2023
- Ursa Major
- FusionAuth
- Govly
- RADICL
- Zephr
- Freeplay
#6. $3.25 million, November 1
Available in a private beta, Freeplay is a platform that helps companies build and experiment with apps that leverage text-generating AI models. The company recently emerged from stealth with a round of seed funding from lead investors Conviction Ventures and Matchstick Ventures. It plans to grow its 10-person team by up to 50 percent by year’s end.
#5. $3.5 million, November 2
Based in Boulder, Zephr wants to make GPS technology more accurate and consistent. The company’s solution works to enhance GPS accuracy for mobile devices. Space Capital and First Spark Ventures led the round of seed funding that will help support Zephr’s go-to-market strategy.
#4. $9 million, November 14
Operating in the cybersecurity space, RADICL offers enterprise-grade threat protection for small-to-medium-sized businesses. Paladin Capital Group led the latest round of funding for the Boulder-based company. RADICL plans to invest in expanding R&D, building sales and marketing functions and commercially launching its product.
#3. $9.5 million, November 2
Denver-based Govly offers a government contracting solution that helps users find, track and analyze contract requirements across various sources. Its goal is to simplify public sector procurement. The company secured Series A funding led by Insight Partners to build new products aimed at making it easier to contract with governments.
#2. $65 million, November 1
Security solution FusionAuth helps companies add features for multifactor authentication, passwordless login, security controls and threat detection to their platforms. The company, headquartered near Denver, pulled in equity capital from Updata Partners to help meet increasing demand for its solution.
#1. $138 million, November 30
Rocket propulsion tech innovator Ursa Major secured a total of $138 million in Series D capital. The company plans to continue developing its solid rocket motor program, Lynx, scale its production capacity and advance its other propulsion programs with the new capital. Explorer 1 Fund and Eclipse led its Series D and D-1 funding rounds.
