Startups

American Underground
www.americanunderground.com

African-American startup companies are vying for a coveted spot in Durham's Black Founders event.

Durham-based American Underground, along with the Google for Entrepreneurs Exchange Program, is organizing the week-long event later this year as a way to encourage diverse business startups, according to Jessica Averhart, American Underground's Director of Corporate Partnerships. 

Bronto, American Tobacco
Leoneda Inge

Durham-based Bronto Software has been sold for $200 million dollars to NetSuite of San Mateo, California.

Bronto Software, founded in 2002, has been growing like gangbusters for years.  

“We had a great 2014, over 40% growth.  And we have even more amazing things for 2015," said CEO Joe Colopy in a video of the company's fourth quarter update in 2014.

A picture of hands holding cash.
401(K) 2013 / Flickr

The Council for Entrepreneurial Development says start-up businesses in the state are receiving record-breaking funding.

The CED annual Investors Report shows technology, life science, advanced manufacturing and clean-tech companies raised $622 million in 2014.  That’s about 35 percent more than in 2013.

Dhruv Patel is CED’s Director of Investor Relations.

“I think we have companies that are holding their own, companies that are making great progress and can compete with the best of the best," said Patel.