Colorado’s tech scene was active last week, with big funding rounds, mergers and a new venture fund. Catch up on the Colorado tech news you may have missed with Built In Colorado’s weekly refresh.
Sunday raised $50M. The Series C round brings the Boulder-based sustainable lawn care company’s total funding to $78 million. With the fresh round of funding, Sunday plans to grow its team of 70 employees to 110 employees over the next year. The funding will also be used to accelerate Sunday’s growth across new product lines like pest control. Next year, Sunday hopes to reduce its customers’ pesticide use by 75,000 pounds and its fertilizer waste and potential runoff by 2.5 million pounds. [Built In Colorado]
Akerna acquired 365 Cannabis. The $17 million deal will provide Denver-based Akerna with a robust cannabis-compliant Microsoft Enterprise Resource Planning and business management software. As a result of the merger, Akerna touts what it says is the broadest portfolio of technology solutions, including finance, inventory and operations solutions. Cannabis operators will be able to scale from startup to multi-state operator while maintaining regulatory compliance through Akerna’s compliance gateway. [PR Newswire]
Elevate launched with $12M. After a year in stealth mode, the Denver-based company publicly launched on Monday with $12 million in Series A funding, bringing the company’s overall funding to $15 million. Elevate plans to modernize HSAs, FSAs and other pre-tax benefits by allowing employees to view their benefits from an intuitive dashboard, pay for expenses with one contactless card and receive reimbursement within a matter of minutes. [Built In Colorado]
The Pro’s Closet merged with The Radavist. The Pro’s Closet, a Louisville, Colorado-based retailer of new and certified pre-owned bikes and bike accessories, announced on October 4 that it was merging with Santa Fe-based cycling blog The Radavist, which plans to broaden its content and merchandise offerings. The Pro’s Closet raised $40 million in May, with plans to expand its reach and grow its workforce from 116 to 200 employees. That funding came on the heels of another $12 million in 2020, when the company relocated from Boulder to Louisville, Colorado. [BizWest]
Innosphere Ventures launched a second VC fund. The new fund will focus on B2B SaaS software, cleantech and medtech companies. The fund will make pre-seed, seed and series A investments into more than 25 early stage startup companies in the mid-America Mountain Plains region. [Innosphere Ventures]
