In the first three months of the year, Colorado companies raised over $85 million, putting the state on pace with funding in the first half of last year ($162 million). Companies ran the gamet from those providing incentives and gamification around healthy living, to sharing photos and reducing home energy use.
Funding was led by Welltok, which raised an astounding $22 million from a number of different investors, including Qualcomm Ventures, New Enterprise Associates and InterWest Partners, among others.
The top four Colorado funded companies – Welltok, Photobucket, TeamSnap and Simple Energy – raised a total of $43 million, or over half of the total amount. The remaining companies each raised funds up to $5 million. Funds raised by Colorado companies in the first quarter averaged $3.8 million.
Exits sped up, with seven companies successfully exiting in Q1, compared to just one more in the first half of last year. These companies took in over $225 million from acquisitions. The latest acquisition was Denver-based Accuvant, a cybersecurity firm. But acquisitions ranged the tech field from Global Healthcare Exchange to media company Examiner.com.
2014 is shaping up to be another exciting and productive year for locally-based tech companies.