By Nancy Dahlberg

Venture capital-backed companies nationwide raised a record number of mega-rounds, with 64 $100 million-plus deals this past quarter across the nation. Here in Florida, we had two of them.

Nationally, funding increased 10% in the second quarter. In all, $29B was raised across 1,409 transactions, according to the MoneyTree Report from PricewaterhouseCoopers and CB Insights released Tuesday. The 64 mega-rounds raised this quarter account for nearly half (47%) of all funding raised. 

Statewide, $743 million flowed into Florida companies across 22 deals in the second quarter, according to MoneyTree. But most of that is due to two companies’ raises: Plantation-based Magic Leap, the spatial computing company, drew a $280 million corporate round by Japan’s NTT DoCoMo and Clearwater cybersecurity-training company KnowBe4 raised a $300 million Series D round led by private equity fund KKR.

In addition to KnowBe4 and Magic Leap, top raises in the state included South Florida’s TissueTech ($82.25 million) and Carecloud ($33 million), as well as Naples-based Catalyst Orthoscience at $12.5 million. Rounding out the top 10 were: Aspen Health, Sunwave (of Delray Beach), TrashBulter, Intrinio and FlexEngage, all raising between $4.5 million and $6 million. Software, internet and healthcare companies dominated.

Reality check: Even with those mega-rounds, Florida pulled in just 1.35% of the national venture capital pie. More than three-quarters of the venture capital flowed to just three states: California, New York and Massachusetts.

Other national highlights of the Q2 MoneyTree report:

  •  2019 records the largest first half this century as US funding shows no signs of slowing.
  • This quarter saw one $1B+ deal as Cruise Automation raised $1.2B. 
  •  Juul replaces Uber as the most highly-valued VC-backed company with a $50B valuation and having raised $13.6B in funding.
  • Q2 saw 19 new U.S. unicorns and the unicorn population remains at an all-time high despite recent exits. 
  • U.S. IPO exits reach an 8-quarter record with 33 IPOs. This quarter also saw 163 M&A exits and the time-to-liquidation reaches highest level since Q3’17 with 7.5 years to exit.

“This quarter, the IPOs of Uber, Slack, Pinterest and Zoom helped US IPOs reach an eight-quarter high. In total, 33 companies went public, more than double the number of IPOs in the first quarter of this year,” said Anand Sanwal, CEO and co-founder of CB Insights. “The enthusiasm wasn’t limited to the public markets as the stampede of private unicorns in the US continued with an all-time high of 167 unicorns. The funding landscape for mid- and later-stage companies remains healthy as mega-rounds ($100+ million) have become commonplace and show no signs of slowing.”

The MoneyTree Report can be downloaded  here.

Follow @ndahlberg on Twitter and email her at ndahlbergbiz@gmail.com

READ MORE ON REFRESH

South Florida companies keep raising big rounds: Neocis announces $30 million raise this week

Pitchbook also put out its quarterly report. Read about it here.

Follow me

Nancy Dahlberg

I am a writer, editor and a leader with extensive media experience and a passion for journalism and serving the community. Most of my career has been spent with the Miami Herald in business news, and my expertise is writing about entrepreneurs. I'm also good at research and project planning. I enjoy running community-focused projects and utilizing social media. Contact me at ndahlbergbiz@gmail.com
Nancy Dahlberg
Follow me