12 local firms raised venture capital in Q3
Last Updated: 17:20 October 18, 2013
Boulder-based Solidfire Inc., a data-storage company, received $31 million in venture capital in the third quarter, leading all companies in the state. In all, 20 Colorado companies received $136.6 million in the third quarter, compared with 22 venture-capital deals valued at $114.4 million that were made in the second quarter.
"This cautious optimism that we've seen over the last few quarters shows investment is starting to pick up," said Keith Parsons, a partner at the Denver office of Pricewaterhouse Coopers LLP. "Boulder did very well."
The quarterly MoneyTree report from Pricewaterhouse Coopers and the National Venture Capital Association is based on data by Thomson Reuters.
Venture-capital investment in biotech companies continues to lag a bit both in Colorado and across the nation, while software companies continue to be investor darlings, Parsons said. That's because software companies typically are less expensive to invest in, he said.
The other 11 companies based in the Boulder Valley that raised venture capital in the third quarter:
- Boulder-based Somalogic Inc., a research company, raised $10 million.
- Boulder-based VictorOps Inc., a software company, raised $6.5 million.
- Boulder-based Daily Inches Inc., an online content marketing company, raised $5.6 million.
- Boulder-based TapInfluence Inc., formerly BlogFrog LLC, a cloud-based software company, raised $5 million.
- Lafayette-based Two Moms in the Raw Inc., a raw-food manufacturer, raised $3.5 million.
- Boulder-based Roundpegg Inc., a management software company, raised $2.4 million.
- Boulder-based Graphicly Inc., a digital content provider, raised $2.4 million.
- Longmont-based TerraLUX Inc., a light-emitting diode manufacturer, raised $2.1 million.
- Lagrange Systems Inc., a software company, raised $1.66 million.
- Winston Network Inc., a product and services provider, raised $1.050 million.
- Trada Inc., an advertising software company, raised $1 million.
Across the nation, venture capitalists invested $7.8 billion in 1,005 deals in the third quarter of 2013. The software industry received the largest percent of funding, with $3.6 billion in total investment, according to the MoneyTree report. It was the first time the software industry surpassed the $3 billion funding mark in 12 years, according to Pricewaterhouse Coopers.
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