Denver’s Brandfolder promoting for $155M as publicly traded tech agency buys its means into metropolis


Denver tech agency Brandfolder already helps big-name firms like P. F. Chang’s China Bistro, Beneath Armour, HealthOne and the Houston Texans NFL franchise retailer, observe and use digital logos, images, hype movies and different advertising supplies.
On Monday, it introduced it’s being acquired by publicly traded Seattle software program firm Smartsheet in a $155 million stock-and-cash deal that ought to solely develop its attain whereas additional cementing the Mile Excessive Metropolis’s place as a serious tech hub.
“Now we have actually been capable of create a significant and progressive software program firm in Denver,” Luke Beatty, Brandfolder’s co-founder and chairman, stated Monday. “The true worth for the town is having a giant, public-traded firm that now has an workplace and a presence right here. I believe having extra publicly traded tech firms right here in Colorado actually issues.”
The deal is anticipated to shut subsequent month.
Brandfolder bought began in 2012 and graduated from the Techstars Boulder program. It has grow to be a go-to storage and administration software program supplier for the advertising world, holding shoppers’ whole artistic portfolio in a single sortable, trackable place and offering knowledge about how items of selling materials are doing, Beatty stated.
“What performs effectively, when, wherever on the earth? We’re actually offering that next-level understanding,” Beatty stated, “There isn’t a purpose why (a consumer) shouldn’t have the ability to perceive how one menu performs in comparison with one other menu.”
The corporate, which has 60 staff in Denver, hasn’t been overly energetic within the enterprise funding realm, solely elevating $10 million so far, Beatty stated. Firm management was contemplating launching a push for extra funding when Smartsheet got here calling. Now he expects the corporate’s back-end expertise to enhance together with its attain.
Smartsheet focuses on workflow administration software program. The Bellevue, Washington-based firm went public in 2018. It now has a market cap of greater than $5.78 billion. Its inventory value was flat Monday, with shares buying and selling for proper round $48.30 as of mid-afternoon.
Buying Brandfolder, an organization that it already shares a lot of shoppers with, in accordance with Beatty, offers Smartsheet extra utility to firms.
“Brandfolder’s content material capabilities coupled with Smartsheet’s highly effective workflow and collaboration options will present groups with a dynamic resolution to securely handle, share, and publish their content material, empowering cross-team and group collaboration,” Smartsheet CEO Mark Mader stated in a information launch.
That is the second time Beatty has bought a startup he launched in Denver to a (then) public firm. In 2010, Yahoo bought his firm Related Content material for $100 million.
Brandfolder’s model identify isn’t going wherever within the wake of the acquisition, Beatty stated. Its Denver headquarters is primed to accommodate development even because it operates on an advert hoc work-for-home/in-office mannequin amid the COVID-19 pandemic. The corporate just lately grew its footprint within the Zeppelin Station constructing at 3501 Wazee St. and now has greater than 8,000 sq. ft of area on the fourth ground there.


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