Denver startups begin 2017 strong with $49.5 million in funding

In industries ranging from cannabis to healthcare, API integration to cybersecurity, these startups are as innovative as they are varied.

CHLOE
Nice looks seen from the Colorado State Capitol. (Kevin J. Beaty/Denverite)

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The Rocky Mountains seen from the Colorado State Capitol. (Kevin J. Beaty/Denverite)

These five startups got off on the right foot this year, pulling in a combined $49.5 million in funding within the first month.

In industries ranging from cannabis to healthcare, API integration to cybersecurity, these startups are as innovative as they are varied. And you can bet they’re feeling pretty good about 2017.

Cloud Elements 

Amount: $13,018,864 Series B

Investors: Harbert Partners with participation from Rally Ventures, Access Ventures and Grotech Ventures

Cloud Elements is a cloud application program interface (API) management and integration service that enables developers to manage multiple applications through a singular platform. With the latest round of funding, Cloud Elements intends to focus on further supporting its global customer base, as well as expanding marketing and advertising and hiring in Denver. Cloud Elements was named a 2016 Denver Gazelle for its quick growth, and potential for fundraising and job creation.

Faction

Amount: $11 million in debt and equity

Investors: Meritage Funds and Sweetwater Capital, Charterhouse Strategic Partners and Rifkin-Pottle Group

Faction is a Denver-based infrastructure as a service (IaaS) provider, that offers public and private cloud solutions. The company announced Wednesday an $11 million round of debt and equity funding that will go toward global growth and additional hiring.

Orderly Health

Healthcare accelerator TreeHouse Health announced Monday a new investment in and partnership with Denver-based Orderly Health. Orderly Health provides chat-based access to healthcare management services, helping users find doctors, competitively priced medications and services, and answers about insurance benefits.

Through the partnership, Orderly Health joins Minnesota-based TreeHouse Health’s roster of 14 emerging healthcare startups.

ProtectWise

Amount: $25 million Series B

Investors: Arsenal Venture Partners, Top Tier Capital Partners, Tola Capital

Along with the $25 million in funding, ProtectWise announced the appointment of ClearSky managing director Jay Leek to its board of directors mid-January 2017. The cloud-based cyber security provider plans to use its newly acquired funds to make a mark in traditional enterprise network security, as well as adapting its ProtectWise Grid surveillance platform for industrial control systems, which pose a particular security risk for their control of industrial machinery.

Therabis 

Amount: $500,000 for its new line of chewy treats

Denver-based Therabis produces hemp-based products for pups, leveraging naturally occurring cannabinoids to soothe canine skin, nerves and joints. According to an SEC filing, this canine cannabis company raised $500,000 in funding in early January. BusinessDen reported Therabis will use the funding to expand into doggie edibles.

Multimedia business & healthcare reporter Chloe Aiello can be reached via email at caiello@denverite.com or twitter.com/chlobo_ilo.

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