Twelve companies in region garner VC in 1Q
Last Updated: 15:00 April 18, 2014
Statewide, venture capitalists poured $117.6 million into 22 companies during the quarter.
TeamSnap Inc. in Boulder led the region raising $7.5 million during the quarter. TeamSnap provides web-based team- and group-management software and has been expanding to include products that cater to countries outside the United States. It received funding from investors Foundry Group LLC, Toba Capital, Torstar Corp., Trinity Ventures LLP and an undisclosed firm.
Other companies in the region that received venture capital during the quarter include:
Simple Energy Inc., Boulder, $6 million. Simple Energy provides a software-as-a-service digital-marketing platform for clients in the energy industry. It received funds from The Westly Group LLC.
Accera Inc., Broomfield, $5 million. Accera is developing therapies to treat central nervous system disorders. It received funds from Inventages Venture Capital GmbH.
VanDyne SuperTurbo Inc., Loveland, $5 million. VanDyne makes a truck-engine management system called the SuperTurbo, which improves fuel economy and reduces soot emissions. The technology integrates the functions of supercharging and turbocharging into a single device. It received funds from Northwater Capital Management Inc.
Switch Labs Inc., Louisville $4.8 million. Switch Labs, doing business as bounce.io, enables companies to capture bounced emails. Bounce.io cleans them up, adds and advertisement and then sends them on their way. It received funds from The Foundry Group LLC.
TerraLux Inc., Longmont, $4.5 million. TerraLux designs and manufactures LED (light-emitting diode) products. It received funds from Access Venture Partners and Emerald Technology Ventures AG.
JumpCloud Inc., Boulder, $3 million. JumpCloud develops software to automate server management. It received funds from The Foundry Group and Bullet Time Ventures.
Mosaic Biosciences Inc., Boulder, $2.3 million. Mosaic is an early stage biotech company that is developing synthetic materials to support tissue regeneration. It received funds from Healthcare Ventures LLC, High Country Venture LLC and Morgenthaler Ventures.
DataVail Corp., Broomfield, $2.1 million. DataVail provides database-management services. It received funds from Boulder Ventures Ltd. and Montis Capital LLC.
Vesmir Inc., Broomfield, $2 million. Vesmir has a software system that analyzes production data from oil and gas wells using maps and charts from Google Earth and a shared-map feature. It received funds from Catamount Ventures L.P. and an undisclosed firm.
Evolutionary Genomics LLC, Lafayette, $2 million. The company's Adapted Traits Platform finds the genes that can help make crops more drought resistant, opening up arid acreage for production that were previously thought to be unusable. It received funds from an undisclosed firm.
E-Chromic Technologies Inc., Boulder, $295,000. E- Chromic is a clean-tech company that makes a reflective film to make windows more energy efficient. It received funds from Amplifier Management LLC.
Nationally, venture capitalists invested $9.5 billion in 951 deals in the first quarter, the report said.
Quarterly venture capital investment activity increased 12 percent in terms of dollars but fell 14 percent in the number of deals, compared to the fourth quarter of 2013 when $8.4 billion was invested in 1,112 deals.
Dollars invested in the software industry experienced another significant increase in the first quarter, capturing $4 billion and further distancing it by more than three times from the second-largest industry, biotechnology. The last time Software investments reached this level was in the fourth quarter 2000. Venture capital investments into software companies accounted for 42 percent of total dollars and 44 percent of total deals in the first quarter. Five of the top 10 largest deals for the quarter were software companies.
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