Mountain State Moguls Sitting on Mountains of Money
January 09, 2013
If the start of the year is any indication, the Rocky Mountain States could be sitting on a massive mountain of money by 2014. Comprised of Arizona, Colorado, Idaho, Montana, Nevada, New Mexico, Utah and Wyoming, this region is home to 150 VC-backed companies that received funding over the course of 2012 and 2013 to date, according to the PitchBook Platform. Since the start of the year, six deals have already gone down in the Rockies, including three Series B financings for companies headquartered in Utah: InsideSales, which raised $35 million; Health Catalyst, which raised $33 million; and Great Basin, which raised $9.5 million. On top of that, Denver-based Altitude Digital Partners has locked down a $5 million round of equity and debt. Industry-wise, the IT sector is booming in the Mountain States, making up 43% of all VC deals taking place from 2012-2013 to date. B2C is also alive and well, representing 22%. B2B comes in with 18%, Healthcare with 10% and Energy with 7%.
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