Venture capital funding is known for its potential to spawn job growth. With today’s failing economy and deflated job market, venture capital designed to fund new jobs gets praise all across the board. A Denver company recently closed on a venture capital round that totaled $14 million.
eWise, now based in Denver, was started in Australia in 2000. Over the past decade, the company has been responsible for the creation of many of the online banking tools that are frequently used by banks and financial managers. The company created software that allows customers to make secure purchases online.
eWise began growing its venture capital fund before making the move to Denver. To date, the company has raised more than $26 million total. The latest venture capital round will allow the company to hire additional personnel in the research and development department, tech support, as well as sales and marketing. The goal of the executives at the company is to increase the staff size from 42 to 60 by the end of this year.
The company’s customer base continues to grow, and because of the mounting venture capital fund, the ability to hire new employees continues to grow as well. As of now there’s been no report on how many of the new jobs will be available to the local population in Denver and how many will be awarded to people at the company’s other locations of London, China, and Australia. Hopefully this venture capital deal will add at least some jobs in the Denver office.
Source: Business Journal, Denver’s eWise raises another $14 million, Greg Avery, 07 Jun, 2011