Denver tech companies are evolving and growing with the ever-maturing tech ecosystem here in the mile-high city. We've seen big changes here in Denver, but luckily the amazing culture has stayed the same and the cost of living is still on the reasonable side for any tech city. We have great restaurants, great neighborhoods, and some of the best outdoor activity access for a full-scale city in the world. It's a great place to live, work, and thrive.
But what about the revenue of our biggest growing tech companies? Denver will always be in the fiscal shadow of the tech-megalith; the San Francisco Bay area. It's true the Bay Area has more VC funding than Denver to almost an order of magnitude at the moment, but Denver is catching up. There are also some companies that from a revenue perspective are really crushing it in Denver on a global scale.
Ping Identity's security and identity products are used by over half of the Fortune 100 companies out there. They are no "little-startup," they are a publicly-traded tech monster in the ever-growing security space whose recent IPO put them at a value of approximately $1.5 Billion. What we really love about this company though is that even with their monster revenue and valuation, they still are holding strong with a 4.7 out 5 as a great place to work according to Glassdoor.
Ibotta recently raised a Series D at a valuation of over a billion dollars making it one of the rare Colorado-based tech unicorns. The success of this fund-raise was largely in part do Ibotta's new mobile payment product that allows users to pay for things using their redeemed cash-back rewards. Ibotta was also listed as a 2017 Inc. Best Places to Work.
Although Choozle doesn't have the mega revenue numbers that Ping Identity and Ibotta have, what is noteworthy is their 428% 3-year growth that catapulted into #985 on the 2019 Inc 5000 List. This is no small feat in the highly competitive digital ad space. We have team members who have seen the power of their platform in person and we think these growth numbers are just the beginning of their hockey-stick revenue growth pattern. Their platform helps digital advertisers execute, monitor, and measure complex ad campaigns in what is still a very disparate space. Big things to come from these guys!
We also wanted to mention a company that we think is worth keeping your eyes on over the next few years from a growth potential perspective...
Yes, Strive Health is recently founded and pretty small at the moment, but they have received an undisclosed amount of investment from some of the biggest names in health care tech investment. They are one of the few companies out there taking a strong position on the power that big data can have in medical care efficiency and outcome.
Strive Health is one of the first companies to also address the terribly outdated level of testing, prevention, and care for kidney health. Through their platform, they say that inpatient kidney care can be cut by up to 50% and they will be able to triple the rate of home dialysis adoption. This could be huge for patients with chronic kidney disease because in-patient hemodialysis treatments are tied to a shorter life expectancy and increased risk of transplanted kidney failure. We have our fingers crossed for the success of Strive Health.
We hope we painted a good picture of some very different companies here in Denver that are on the path to revenue-glory. These are just a small subsection of some of the Denver tech companies who are booming, definitely keep your eye's on Built In Colorado and Crunchbase Denver to learn more about how tech company revenue in our city is faring.
Here at BWBacon Group, we know and live what you are experiencing as an employer or job seeker in Denver, Boulder, Dallas, San Francisco, New York City or any of the other cities we work in. We believe great recruiting starts and ends with understanding people.
If you have any questions about living, working or playing any of the areas we serve, please contact us. We are happy to help. Seize the day, every day, that’s what we say!