Layer3 TV opened its new headquarters in LoDo on Sept. 15. It already has about 50 employees, but the company remains in stealth mode.
The company's website touts it as a "next generation cable provider spearheading a new era of home media, combining the best of television, social, and digital life," but details about its technology and business model remain scant.
CEO Jeff Binder says the main decision behind locating in Colorado was the state's workforce. "Denver has a long history, especially in the cable industry, of having some of the best and brightest talent in the industry," he says. "Modern pay TV has it roots in Denver, and it is here where we hope to continue to evolve and innovate the industry."
The company plans to hire more than 300 people in Denver, with an average wage topping $90,000. It is already hiring positions with a heavy focus on IT positions, from software engineers to Web developers. As of early October, Layer3 was advertising 13 open positions on its website
The company, which was previously based in Boston, raised $21 million in its Series A financing. The series was led by North Bridge Venture Partners and Evolution Media Growth Partners (a joint venture between private equity firm TPG Growth and Evolution Media Capital). That round of financing also helped the company become one of the Denver Gazelles in conjunction with Denver Startup Week
The fundraising and potential jobs growth netted the startup $2.9 million in state job growth incentive fund tax credits. In addition, Denver is providing Layer3 TV with business personal property tax credits, as well as workforce development and technical assistance to support the relocation.
"The commitment at both the state and local level to bring startups and entrepreneurs to the Mile High City speaks to the general overall climate for business in Colorado," Binder says. "We are looking forward to playing meaningful a role in this emerging center of innovation."
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