Faction's $14 million financing tops recent funding news in Denver

Denver-based information services and IAAS company Faction has secured $14 million in Series C funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced April 3 and led by Dell Technologies Capital.

According to its Crunchbase profile, "Faction (formerly Peak), started in 2006 as an inspired, Cloud IAAS collective, populated by some of the most award-winning IT engineers and thought leaders in the cloud computing industry. Determined to revolutionize a smarter, uncompromised way for IT pros to reliably work in the cloud, Faction is gaining rapid momentum and attracting impressive numbers of progressive, forward-thinking customers and channel partners nationwide – all undeterred in their shared pursuit of extreme performance, deep control and broad customization."

The 13-year-old company has raised four previous funding rounds, including an $18 million Series B round in 2018.

The round brings total funding raised by Denver companies in software over the past month to $19 million. The local software industry has seen 54 funding rounds over the past year, raking in a total of $199 million in venture funding.

In other local funding news, developer tools company TrackVia announced a Series C funding round on April 11, financed by Primus Capital.

According to Crunchbase, "TrackVia is the No. 1 low-code application platform in the cloud. We empower businesses to rapidly deliver modern web and mobile applications with minimal hand coding and minimal investment in set-up, training and deployment. TrackVia bridges the technology gap between low-end spreadsheets, databases or simple SaaS software and heavy, complex enterprise systems."

Founded in 2006, the company has raised six previous rounds, including a $7.2 million debt financing round in 2016.


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