Venture funding surged to record levels for the first half of the year in Colorado Springs, statewide and nationwide, according to a report from Pitchbook and the National Venture Capital Association.
Nearly all such funding in Colorado Springs came in the first quarter, when software developer Quantum Metric landed the city's largest-ever venture financing, totaling $200 million. Two local technology startups, InterviewIA and Hailios, each landed $2 million during the April-to-June quarter, pushing the first-half total to $204 million.
InterviewIA developed and sells software that manages job interview work flows. It plans to use the investment from a group led by the Colorado Impact Fund to add more people to its 27-person staff, continue product development and work on other growth initiatives, according to Pulse 2.0, an Ann Arbor, Mich., technology and business news publication. Hailios has developed and sells a compact, wireless hail detection and analysis system used by insurance companies and other users.
Colorado startups raised $1.35 billion in the second quarter, more than triple the amount raised in the same quarter last year . The $3.09 billion total for the first half of the year is more than triple the first half of last year and more than any full year since 2006.
The state's two largest deals in the second quarter — both $150 million — went to Denver-based worker training provider Guild Education and Boulder-based biotechnology company Inscripta. All but about $20 million of the statewide total went to 100 companies in the Boulder and Denver areas with five companies in Fort Collins splitting nearly $9 million and a Greeley biotechnology company landing $1.2 million.
Nationwide, startups raised $75 billion for the second consecutive quarter, more than double the total from the same quarter last year. The $150 billion invested in U.S. startups during the first half of the year is more than double the total from the same period last year and just $14.3 billion less than last year's record annual total. The largest deal during the quarter was $2.5 billion landed by California-based autonomous vehicle developer Waymo, which is owned by Google parent company Alphabet.
The report by Pitchbook, a Seattle-based research unit of Morningstar, and the National Venture Capital Association, is different from other reports tracking venture capital activity because it also includes angel investments from wealthy individuals and "seed" investments from groups that back startups before they receive money from venture capital funds. PricewaterhouseCoopers no longer produces its quarterly MoneyTree Report (which included data on Colorado Springs) on venture capital funding.