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Incubator/Accelerator
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Investments

82

Portfolio Exits

7

Funds

4

Partners & Customers

4

About Boomtown Accelerator

Boomtown is the IoT, adtech, media and marketing focused accelerator located in Boulder, CO.

Boomtown Accelerator Headquarter Location

2060 Broadway Street Suite B-1

Boulder, Colorado, 80302,

United States

303-842-9098

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Latest Boomtown Accelerator News

Intellabridge tries to build new future for banking

Aug 30, 2021

“We are at the beginning of a massive disruption in the financial space,” said John Eagleton, CEO of Intellabridge. Intellabridge originated as a peer-to-peer lending platform that used blockchain technology to send funds. It graduated from the Boomtown Accelerator and went public on the Canadian Stock Exchange in 2018 when it received a capital injection from a venture-capital firm in Vancouver. At that time, the company was building its own blockchain infrastructure from scratch. After going public, Eagleton said, Intellabridge decided instead to adopt the Terra decentralized financial infrastructure and blockchain protocol and pivot to the idea that became its app, Kash. Kash’s alpha version launched in March, followed by a private beta in June that has attracted more than 10,000 customers. The full product is expected to go live at the end of September, Eagleton said. Like any traditional banking service, Kash offers checking, savings and investment accounts. It offers debit and credit cards. The difference is that Kash accounts operate using Terra. Terra offers numerous stablecoins, or cryptocurrencies that are directly linked to an asset such as a fiat currency. Users can hold both fiat currency and stablecoins in their Kash checking accounts. Through Terra’s protocols, these stablecoins allow users to earn far higher interest than they would from a bank. Terra operates using proof-of-stake. That is, users can stake their currency, putting it to work validating transactions on the blockchain. Users who do this are rewarded with more currency. This is how Kash customers will generate interest. Eagleton said that Kash’s interest rate is around 12% right now. It won’t always be that high, he said, but it still will remain orders of magnitude greater than what banks offer. Kash also plans to offer Terra-based CDs for businesses that will generate 10% interest on average, a product that is slated to launch in the fourth quarter of 2021. Kash customers will be able to use their coins as collateral for a loan, as well as invest in tokenized versions of traditional financial assets and commodities such as stocks, bonds, funds and precious metals. “That’s especially interesting in emerging market countries where opening brokerage accounts and investing in U.S. companies can be really hard and complicated,” Eagleton said. Indeed, Kash aims to mitigate the worst aspects of traditional banking in both emerging and developed markets. In addition to the difficulty customers in emerging markets face in investing in U.S. companies, those markets also tend to have much higher inflation. In developed markets, interest rates tend to be very low. Because cryptocurrencies are resistant to inflation and because Terra enables such high interest rates, Kash may just strike that balance. “This is not traditional borrowers and lenders with banks controlling the markets,” Eagleton said. The big similarity between Kash and legacy banks is the user experience. That is intentional. Eagleton said that one of the goals of Kash is that it is easier and more convenient for users than it would be to decentralize their finances on their own. Theoretically, individuals could do on their own all of the services that Kash offers — purchase stablecoins, stake them, use them as collateral — but that would entail operating numerous accounts on numerous exchanges, making transfers that would likely not be instantaneous and being responsible for their own security. Kash handles all of that for its users. Intellabridge is continuing to iterate on Kash as it nears its launch date at the end of September. The company raised $10 million CAD in July, funds it will put toward product development and marketing for launch. Eagleton said Intellabridge is working to add instant transfers to and from checking accounts and greater security such as multi-factor authentication. Eagleton is hoping that decentralized finance will be so easy, seamless and convenient that users won’t even realize they’re using it. He compared it to the internet protocol suite TCP/IP as something that is so simple and effective that it became ubiquitous without most of its users even knowing. “This will be a cheaper, better, faster banking experience,” Eagleton said. “Basically, just a better bank. Just as neobanking disrupted the market, decentralized finance banking will also be disruptive.” © 2021 BizWest Media LLC BOULDER — If Intellabridge Technology Corp. (CSE: INTL) gets its way, traditional banking — and the ways in which it takes advantage of its customers — could be on the way out. Intellabridge, a Boulder blockchain company that was founded in 2017, is developing an app — launching at the end of September — that aims to decentralize traditional banking for everyday customers, giving them the ease of use of legacy banking while also providing the higher interest rates, security and protection from inflation that the nascent decentralized finance space offers. Sponsored Content

Boomtown Accelerator Investments

82 Investments

Boomtown Accelerator has made 82 investments. Their latest investment was in Xompass as part of their Seed on November 11, 2018.

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Boomtown Accelerator Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

11/15/2018

Seed

Xompass

$0.02M

Yes

1

11/15/2018

Seed

Wellian

$0.02M

Yes

1

11/15/2018

Seed

ToMarket

$0.02M

Yes

1

11/15/2018

Seed

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$99M

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10

11/15/2018

Seed

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$99M

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10

Date

11/15/2018

11/15/2018

11/15/2018

11/15/2018

11/15/2018

Round

Seed

Seed

Seed

Seed

Seed

Company

Xompass

Wellian

ToMarket

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Amount

$0.02M

$0.02M

$0.02M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Sources

1

1

1

10

10

Boomtown Accelerator Portfolio Exits

7 Portfolio Exits

Boomtown Accelerator has 7 portfolio exits. Their latest portfolio exit was TrueFace on June 02, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/2/2021

Acquired

3

3/24/2021

Acquired

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10

8/17/2020

Acquired

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10

5/14/2019

Acquired

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10

2/1/2018

Acquired

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10

Date

6/2/2021

3/24/2021

8/17/2020

5/14/2019

2/1/2018

Exit

Acquired

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

Acquirer

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Sources

3

10

10

10

10

Boomtown Accelerator Fund History

4 Fund Histories

Boomtown Accelerator has 4 funds, including Boomtown Fund III LLC.

Closing Date

Fund

Fund Type

Status

Amount

Sources

2/12/2018

Boomtown Fund III LLC

Early-Stage Venture Capital

Open

$1M

1

6/8/2017

HC Accelerator Fund I

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$99M

10

8/5/2015

Boomtown Fund II

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$99M

10

4/17/2015

Boomtown 2014

$99M

10

Closing Date

2/12/2018

6/8/2017

8/5/2015

4/17/2015

Fund

Boomtown Fund III LLC

HC Accelerator Fund I

Boomtown Fund II

Boomtown 2014

Fund Type

Early-Stage Venture Capital

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Status

Open

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Amount

$1M

$99M

$99M

$99M

Sources

1

10

10

10

Boomtown Accelerator Partners & Customers

4 Partners and customers

Boomtown Accelerator has 4 strategic partners and customers. Boomtown Accelerator recently partnered with Comcast on March 3, 2017.

Date

Type

Business Partner

Country

News Snippet

Sources

3/23/2017

Client

United States

Comcast NBCUniversal Announces Launch of Startup Accelerator “The Farm”

Many of these companies benefited from Boomtown 's first collaboration with Comcast Corporation -- Comcast sponsored the Connectivity Lab in Boomtown 's Boulder location , one of the world 's first Internet of Things labs focused on developing , integrating and deploying products that change how people are entertained and informed .

4

3/23/2017

Client

United States

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10

2/27/2015

Partner

Australia

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10

2/18/2015

Partner

United States

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10

Date

3/23/2017

3/23/2017

2/27/2015

2/18/2015

Type

Client

Client

Partner

Partner

Business Partner

Country

United States

United States

Australia

United States

News Snippet

Comcast NBCUniversal Announces Launch of Startup Accelerator “The Farm”

Many of these companies benefited from Boomtown 's first collaboration with Comcast Corporation -- Comcast sponsored the Connectivity Lab in Boomtown 's Boulder location , one of the world 's first Internet of Things labs focused on developing , integrating and deploying products that change how people are entertained and informed .

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Sources

4

10

10

10

Boomtown Accelerator Team

2 Team Members

Boomtown Accelerator has 2 team members, including current Chief Technology Officer, Jason Cole.

Name

Work History

Title

Status

Stephen Groth

Founder

Current

Jason Cole

Chief Technology Officer

Current

Name

Stephen Groth

Jason Cole

Work History

Title

Founder

Chief Technology Officer

Status

Current

Current

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