- Coplex, a Phoenix, Arizona-based Venture Builder, announced several milestones
- The company has helped start over 300 tech companies with an aggregate market value of more than $4.5 billion
- And Coplex raised $2.5 million in a Series Seed Round led by DFE
Coplex, a Phoenix, Arizona-based Venture Builder that partners with industry experts, entrepreneurs, and corporate innovators for starting high-growth tech companies, announced several milestones recently.
Recently, Coplex announced it raised $2.5 million in a Series Seed Round led by DFE (the family office of Bennett Dorrance of Campbell Soup) and AZ Crown (the family office of Insight Enterprise co-founders Tim Crown and Eric Crown). With this round of funding, Coplex will expand in the market and focus on building the infrastructure required for supporting the start of over 60 high-growth tech companies in 2019. Plus Coplex is also launching a Corporate Venture Builder Program that is designed for enterprises looking to create high-growth tech “spin-outs.”
“Our sights are set on starting hundreds of high-growth potential tech companies each year and building one of the most respected and supportive entrepreneurial networks in the world,” said Coplex CEO Zach Ferres. “By bringing Coplex to more markets and by partnering with corporations, we can empower more entrepreneurs to quickly turn industry problems into venture-backable companies. We’re inspired by the enthusiastic support we’ve received from notable investors, and look forward to continuing to make a significant impact in the tech-startup scene.”
There were a total of 9 investors who participated in the round. This round also included entrepreneurs like Ilya Pozin (co-founder of Coplex and Coplex alumni company Pluto TV — which sold to Viacom for $340 million), Berke Bakay (founder of BBS Capital and the Phoenix Rising FC Governor), Gregg Larson (founder of Clarity — which sold to CoreLogic in 2017), and Kal Somani (CEO of IntraEdge).
“Entrepreneurial activity across the nation is strong, and Coplex has created winning programs that can accelerate the valuation of the most promising start-up,” added Michael Kaplan — a partner at DFE Venture Fund. “Our investment will help Coplex extend its reach into traditional industry entrepreneurs, and corporations that are seeking to capitalize on the rapidly accelerating global landscape of technology innovation.”
The Series Seed Round happened about a year after Coplex merged with AZCrown Ventures LLC. And to date, Coplex helped start over 300 tech companies with an aggregate market value of more than $4.5 billion — which have raised over $1.5 billion in venture capital. Some of the most successful Coplex graduates include Dental Genie, Pluto TV, and Qwick. Coplex is currently based in Phoenix and it has locations in Seattle, Denver, and Los Angeles.
“The Coplex team is serving a crucial need in the marketplace for traditional industry entrepreneurs and corporations with great ideas, that lack the type of expertise required to start a high growth tech company,” explained Tim Crown — the principal at AZ Crown. “In addition to its successful programs, Coplex has built an incredible network of seasoned entrepreneurs and technology industry veterans dedicated to supporting its portfolio of ventures.”
