Colorado’s Top Tech Funding Rounds Totaled $573M in May
Springtime weather in Colorado is always unpredictable, but the local tech scene is heating up. The Centennial State’s five largest tech funding rounds in May totaled $573.7 million — slightly up from the $561 million raised in April. With new funding, several companies are hiring local talent and scaling globally. Read on to see who topped the list.
#5. $20.7 million, May 12
Denver-based StackHawk is a SaaS company helping engineers easily find and fix security bugs before an application goes into production. The company’s latest $20.7 million raise, co-led by Sapphire and Costanoa Ventures, comes one month after StackHawk announced a new partnership with Snyk. The fresh funding will be used to fuel product development. Since launching nearly three years ago, StackHawk has raised $35.3 million in funding, including a $10 million Series A in October of 2020.
#4. $21 million, May 13
Casa offers bitcoin security, privacy and control through self-custody solutions. The company raised a $21 million Series A led by Acrew Capital. Casa didn’t say how the new funds would be spent but said “the next few years will be the biggest and most exciting yet.” Alongside fresh funding, the startup announced a new product called Casa API, which allows companies and developers to add self-custody to their platform.
#3. $23 million, May 11
Infinicept helps businesses in the fintech and SaaS industries implement embedded payments. With fresh funding, the Denver-based startup plans to innovate its product and invest in more capabilities to support embedded finance. Infinicept also plans to scale its team from 85 employees to 115 or 125.
#2. $109 million, May 12
Boulder fintech company TIFIN pulled in $109 million in a Series D round. This brings its total capital raised over the last 18 months to $204 million, including a Series C from last November. TIFIN, which uses AI for wealth and asset management, will use the fresh capital to grow its investment marketplace Magnifi and expand internationally.
#1. $400 million, May 18
With $400 million in fresh funding, Velocity Global expects to more than double its global headcount this year. The Denver-based company offers a Global Work Platform to help people adjust to working remotely and allows businesses to onboard, pay and manage employees. This Series B raise is said to have increased Velocity Global’s valuation seven-fold and comes one year after the company raised a $100 million Series A.
