Tech Super Bowl prediction: Panthers over Broncos

Based on which state has a better-funded tech ecosystem

When it comes to sports betting, it seems like people will latch onto anything, and I mean anything, if it might tell them who will win. Even if it's completely ridiculous. Remember Paul, the octopus that could predict the World Cup in 2010? Like I said, ridiculous, though he did turn out to be right, so maybe it's less crazy than I thought.

If we're willing to potentially lose a ton of money based on the predictions of a sea creature, why not base it on something equally unrelated, like which one has the best tech ecosystem?

Pitchbook has released data on how well funded Colorado and North Dakota are. Let's see how the two stack up, and who will emerge victorious. This is something that seems especially approrpiate this year, by the way, since the game is going to be played in the heart of the tech capital of the world. 

Total fundings and deals

In 2015, North Carolina startups raised $1.3 billion, barely edging out Colorado's $1.2 billion. So one point to North Carolina.

However, Colorado did win when it came to number of deals, 273 to 169, so that's one for Colorado. This one turned out to be a tie.

Colorado: 1, North Carolina: 1

Tech spaces

Pitchbook outlined five sectors, and how much each had raised in each state. I will give one point based on each one.

North Carolina bested Colorado in healthcare services ($347 million to $103 million); pharma and biotech ($279 million to $95 million) and commercial services, ($117 million to $76 million). 

Colorado, meanwhile, won in software ($473 million to $356 million) and IT hardware ($57 million to $19 million). So North Carolina wins this round, giving it a slight edge.

Colorado: 3, North Carolina: 4

By deal size

Again, let's award one point for each stage.

North Carolina takes a beating here, as it only wins one category: late stage deals, with a median size of $10.9 to Colorado's $9.2.

Other than that, Colorado cleaned up. It came on top for seed/angel fundings ($790,000 to $687,000); early stage ($3 million to $2.9 million); and overall deal size ($1.8 million to $1.4 million). And, like that, Colorado takes the lead. 

Colorado: 6, North Carolina: 5

Largest deals

When it came to the largest deals in 2015, there was no contest between the two states. North Carolina won, and it won big.

The biggest deal in North Carolina was AvidXchange, which raised $225 million in September. In Colorado, the biggest deal was Conga, which raised $70 million in June, less than a third of what AvidXchange raised.

Point NC, obviously. 

Colorado: 6, North Carolina: 6

Largest companies

You'll never guess what the largest company in North Carolina is. Just guess.

AvidXchange has raised $225 million, beating out Welltok, the largest comoany in Colorado, which has raised $130 million. And AvidXchange also has a higher valuation, $535 million to $412 million.

North Carolina is starting to run away with this thing. 

Colorado: 6, North Carolina: 8

Top investors

But wait, Colorado isn't out of it yet. It might have one more trick up its sleeve.

When it comes to top investors in the state, Colorado wins big. Boulder-based Foundry Group made 44 investments in 2015, compared to only 22 for investor's Circle, which is based in Durham, North Carolina.

Colorado: 7, North Carolina: 8

Step-up multiples

Ok, so it all comes down to this. Either Colorado ties it up, or North Carolina wins it.

When it came to company valuations the winner is.... North Carolina.

Earth Renewable Technologies saw its valuation go up 16x when it raised $4.15 million in February, while Layer3 TV's valuation went up 6.3x when it raised a $21 million round in March. 

So there you have it folks, North Carolina will win the Super Bowl 9 to 7. You heard it here first!

(Image source: nfl.com)