Stedi Inc., a builder of business-to-business transaction recording software, raised $50.1 million in its fifth funding round after it moved from Boulder to Denver.
The company raised the funds from 11 investors, according to disclosures to the U.S. Securities and Exchange Commission, bringing its total disclosed venture funding to $72.38 million over three rounds.
Stedi is building a network of digital mailboxes for businesses to send transaction information and other business documents to each other quickly, even if one of the parties doesn’t use Stedi. The company specifically points to purchase orders, invoices and ship notifications between suppliers and retailers.
The company was founded in Boulder in 2017 but moved its headquarters to a building next to the 16th Street Mall in Denver this April, according to Colorado Secretary of State records.
It’s unclear why Stedi moved from the area. CEO Zack Kanter did not respond to a request for comment Tuesday.
The move marks another high-profile company’s departure from Northern Colorado and Boulder Valley to the Denver metro area in recent months, following Advanced Energy Industries Inc. (Nasdaq: AEIS) moving its administrative headquarters from Fort Collins to Denver in April.
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