We can track the evolution of emerging tech hubs with a wide range of indicators. IPOs, acquisitions, unicorn valuations and funding rounds are just a few. And when you start to look at change over time instead of just totals, several cities outside of Silicon Valley start to look really impressive. With a staggering 3,269 percent jump in investment money, Boise had the biggest surge in VC funding in 2015. However, unlike Miami’s healthcare sector rise, the success of Boise hinged on fewer deals of higher dollar amounts. In particular, network solutions company CradlePoint hit it big with a $48 million Series B funding in April. CradlePoint focused on using the funds to acquire, which it did later by buying software-defined networking company Pertino.
Then in December, fraud detection organization Kount hit it big with an $80 million announcement (this investment was from private equity, rather than VC funds). Kount protects users from online and mobile payment fraud, and its emergence asserts the company’s place in a cyber security field traditionally crowded with Boston and DC-Virginia pillars.
CVC Capital Partners Managing Partner John Clark assessed Boise’s evolution, explaining that the investment aligns with company strategy of “partnering with uniquely positioned technology companies in large, growing markets.” With these investments and the continued presence of Boise anchor Micron Technology, it’s worth keeping your eyes trained on Idaho’s most populous city.