Known for its natural splendor and 300 days of annual sunshine, Colorado has another side that shines – its booming technology industry. I live and work directly in the state‘s tech scene, and want to give you an inside look at some of the most impactful tech companies based here.
Whether you‘re looking for a promising startup job, seeking innovations from tech leaders, or just curious about the Colorado economy‘s growth drivers, you’ll discover them among our top tech companies.
Colorado Cultivates Tech Talent
With access to skilled graduates from top engineering schools like CU Boulder, and cities like Denver, Boulder, and Colorado Springs attracting talent with high quality of life scores, Colorado ranks #3 among U.S. states with the best business environments in 2022 (CNBC).
Our state is specifically #2 for Technology and Innovation from the skilled tech workforce flowing in. Colorado is increasingly competitive with historic coastal tech hubs, with tech labor growth of 101% over the past decade – over 3 times the national average (CompTIA).
Venture funding data reveals the momentum:
- Colorado startups raised $6.1 billion in 2021, a 200% annual increase (CBInsights)
- Boulder ranked #9 among "next tech hotspots" predicted by experts, calling it "primed to be the next Austin” (CBRE’s 2022 Scoring Tech Talent Report)
Let‘s look at some of the major tech innovators and top Colorado employers making waves nationally across the industry from right here within state borders.
Largest by Revenue: Arrow Electronics, Inc.
The largest Colorado tech company by annual revenue ($35.165 billion) is Arrow Electronics, Inc. (NYSE: ARW). I personally admire Arrow‘s story of scaling from humble beginnings…
This Fortune 500 tech giant traces its roots back to Arrow Radio, a small electronics parts shop first opened in New York City in 1935 by entrepreneur Maurice Goldberg. Flash forward to today, where Arrow acts as a vital intermediary getting electronic components and computer products from manufacturers to companies building innovative tech solutions worldwide.
Now based in Centennial, CO as of a 2011 headquarters move, Arrow employs over 20,700 people globally. It evolved into a titan within electronics value distribution by acquiring over 50 companies and aggressively expanding into new markets under past CEO Stephen Kaufman.
Current CEO Michael Long continues guiding Arrow toward new records, with:
- 2021 revenue of $35+ billion, up 18% year-over-year
- 2021 operating income up 47% ($1.3 billion)
- 2021 stock growth of 65% supercharging shareholder returns
With a presence in over 20 countries, Arrow plays an indispensable role fueling worldwide supply chains and tech innovation. Their positioning and partnerships across the electronics component industry will enable Arrow to stay a long-term global leader.
Largest Colorado Employer: TTEC Holdings
While Arrow generates impressive sales numbers, TTEC Holdings Inc. stands as the state‘s single biggest tech employer by workforce size. Headquartered in Englewood, CO, TTEC employs over 62,000 people worldwide across its customer experience (CX) and business process outsourcing operations.
TTEC’s roots tie back to CEO Ken Tuchman founding call center operator TeleTech in 1982 at age 26. How did TTEC grow so vast, eclipsing other major Colorado corporations in staff size? Two driving factors:
- Strategic mergers and acquisitions – TTEC acquired over 10 CX service and call center companies since 2010
- Surging demand for customer support and CX technology solutions
Especially amid 2020-2021’s pandemic-fueled spike in online business volumes, large enterprises tapped TTEC for its scalable and efficient solutions managing customer interactions. TTEC incorporated more AI and automation capabilities along the way to handle elevated support ticket volumes more intelligently.
For exhibiting steadfast leadership and positioning TTEC where global customer experience demands are quickly heading, CEO Ken Tuchman earned well-deserved plaudits like Colorado CEO of the Year in 2020.
Homegrown Rising Stars: Webroot & Madwire
In addition to heavyweight enterprises like Arrow and TTEC, Colorado also cultivates a thriving ecosystem of tech startups. Two great examples of fast-rising companies launched from right here in our state are:
Webroot – Founded in Boulder in 1997, Webroot provides industry-leading cybersecurity software and threat intelligence for protecting businesses and individuals globally from internet attacks. Its solutions earned Webroot recognition as a “Leader” in Gartner’s 2021 Magic Quadrant industry report – a coveted distinction marking them as innovators leading the market.
Madwire – Launched in Fort Collins in 2009, this digital marketing agency empowers small businesses to expand their online presence through affordable website building, customer management tools, paid ads platform access and expert consulting. Madwire appeared at #292 on Inc Magazine’s 2021 list of America‘s 5,000 fastest-growing companies, continuing its ascent helping SMBs navigate the digital economy.
Both Webroot and Madwire leverage technology to help other organizations succeed – whether by protecting them from malicious cyber threats with software shields or outfitting them with customer-reaching digital tools. It’s exciting to watch their impact widen from right within our Colorado startup scene.
A Look at "Forgotten" DigitalGlobe and Its Pivotal Legacy
While shining stars like Webroot and Madwire emerge within Colorado‘s tech landscape, we also face big names fading or leaving. One pivotal company that qualifies as “forgotten” is satellite imaging pioneer DigitalGlobe.
Founded originally as WorldView Imaging Corp. in 1992 in Oakland, CA, DigitalGlobe relocated headquarters to Colorado in 1995. There, it became an undisputed leader in commercial space imaging. Over decades DigitalGlobe moved earth observation technology forward by:
- Launching a series of cutting-edge imaging satellites starting with QuickBird (2001) and culminating with ultra high-res WorldViews 1-4 between 2007-2016
- Unlocking unprecedented 30 cm resolution views of Earth from orbit aboard $800 million WorldView-3 satellite
- Fueling geographic analysis breakthroughs across defense, environmental monitoring, urban planning and more
- Empowering crisis response efforts by providing ~36 million km2 of updated global imagery to first responders annually
Despite all these technology accomplishments (including induction into the Space Foundation’s Space Technology Hall of Fame), market declines led DigitalGlobe into a merger with Canadian firm MacDonald Dettwiler in 2017. Through subsequent acquisitions, Maxar Technologies absorbed DigitalGlobe completely by 2019 – closing the operation formerly headquartered in Colorado.
While no longer a homegrown leader, DigitalGlobe‘s imaging innovations brought jobs and prestige to Colorado for over 20 years. And the state retains a rich legacy of aerospace and geospatial technology expertise thanks to trailblazers like DigitalGlobe paving the way.
The Outlook Shines Bright for Colorado Tech
Despite losing native titans like DigitalGlobe to acquisitions, entrepreneurial momentum in Colorado keeps reaching new heights. With access to skilled graduating engineers, rising venture funding, and high rankings for startup viability, our state seems poised for a breakout decade in technology locally and nationally.
Whether you’re an investor tracking growing enterprises like Arrow or TTEC, an engineer considering opportunities with leading firms or scrappy disruptors like Webroot or Madwire, or simply someone who wants to buy the coolest new consumer tech toys originating from Colorado tinkerers – stay tuned!
I’ll be covering the latest innovations, startup funding news, policy moves, and technology career tips right here ongoing. Please bookmark this site and subscribe to stay on top of the red hot tech growth our state offers.
Now tell me – which Colorado tech company most excites you and why? I‘d love to hear your take in the comments!
