Built In Denver Releases the 2012 Colorado Digital Startup Report

DENVER, June 3, 2013 /PRNewswire/ -- Colorado's digital technology minds launched 122 digital technology startups in 2012.  70 companies secured funding of at least $1M, with Software and B2B Web representing the fastest growing sectors.  20 companies were acquired. [SEE INFOGRAPHIC]

(Photo: http://photos.prnewswire.com/prnh/20130603/CG24532-INFO)

"2012 was another record-setting year for digital technology companies in Colorado," said Erik Mitisek, CEO Colorado Technology Association and Board Chair, Built In Denver (www.builtindenver.com). "The spotlight on Colorado's digital technology economy is shining bright, as government, media, large corporations, major universities and investors from around the country are taking notice -- and now we have the data to prove it."  

Startups get strong support

Built In Denver's 2012 Colorado Digital Startup Report confirms what local leaders have been thinking: Colorado's tech startup scene is erupting with growth throughout the entire state. "Built In Denver's report further highlights and provides hard data on the power and energy of the Information Technology community in Colorado.  Colorado is truly becoming the innovation center and the 'Silicon Mountain of the Information Technology Community' in the United States," said Kristin Russell, Secretary of Technology & CIO, State of Colorado and Board Chair, Colorado Innovation Network.

Investors notice

The activity in Colorado attracted more than 47 investors from outside of the state to fund digital companies in 2012, with the highest number of investments coming from Boulder-based Foundry Group.   "Colorado has developed into a state that every investor should watch," said Brad Feld, Managing Director, Foundry Group, "Our startup communities and economy are thriving, and the companies being created here are awesome." 

2012 success story

78% of the investment went to Software and B2B Web-focused digital technology companies in 2012. SendGrid raised $21.6M to further develop its cloud-based email infrastructure system.

"2012 was a key year for SendGrid as it cemented the brand as the leader in email delivery.  The funds we raised last year gave us the ability to scale our business to meet growing global demand and aggressively accelerate hiring and invest in our product, developer relations and customer support," said Jim Franklin, CEO SendGrid.

Built In Denver is an online community for digital entrepreneurs and innovators. Built In Denver curates and promotes relevant news on Colorado's startup communities, hosts the most inclusive job board for digital technology companies, publishes data on the digital tech sector and organizes events.

Contact: Maria Christopoulos Katris ([email protected]) 773.562.1320

SOURCE Built In Denver