Local startup funding flooded the Denver-Aurora region in 2021, delivering 267 deals valued at a record-setting $4.3 billion — nearly 170% growth compared to the previous year — an Axios Denver analysis of Pitchbook data found.
Why it matters: Colorado continues to prove itself as a breeding ground for high-growth startups that could shake up some of the world's largest industries, and the Denver area is playing a pivotal role.
By the numbers: In the fourth quarter alone, Denver-Aurora saw $2.3 billion invested in 62 deals.
- Boulder startups saw $1.8 billion invested across 127 transactions, while Colorado Springs saw about $209 million over 10 deals.
State of play: The primary industries attracting venture capital money in the area include health care technology, artificial intelligence, fintech, aerospace and cybersecurity, the Axios Denver analysis found.
- Top investments were made in everything from early- to later-stage rounds, a sign that both the Denver area's brand-new startups as well as growing companies can benefit.
What they're saying: "We've seen venture funding up across the board nationally … and the Colorado trend is reflective of that," Seth Levine, co-founder and partner at the Boulder-based Foundry Group, tells Alayna.
The big picture: The VC industry successfully adjusted to the new normal, and even thrived, after an initial period of pandemic paralysis, Axios' Kia Kokalitcheva writes.
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