24 Minnesota Tech Ventures Raised over $34m in Q3 2011

by Zach Robins

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According to TECHdotMN’s quarterly investment review, at least 24 Minnesota technology firms received investment capital during the months of July, August, and September of 2011.

 

 

 

Total funding for the period was approximately $34.5m and was largely impacted by Consumer Agent Portal’s $18m round.  The second largest raise of $5m was received by RedBrick Health, followed by TST Media’s $3.5m Series B led by El Dorado Ventures. The remaining 21 companies raised roughly $8m combined.

The number of transactions increased by 30% over last quarter, while the aggregate funding volume was on par, indicating a decrease in average transaction size.

The table below shows a large spectrum of capital raises starting at $25k, regardless of stage or round type (angel, seed, series A, etc.). While we attempt to compile the most complete set of data, it is imperfect because some transactions are not reported.  Deals dated “UNK” are sourced from the Angel-Investor-Tax-Credits-Issued-9-15-2011 and in some cases represents the difference between previous amounts declared and current data. This is a dynamic report and will be updated accordingly.

Previous capital recaps include: 2010Q1 2011Q2 2011

Date Type Company Amt. Note(s)
7/12/2011 Equity Nomolos $262,500 [2]
7/22/2011 Equity DigitalTown $1,100,000
7/25/2011 Equity CRAM $600,000
7/26/2011 Equity Workface $900,000
8/10/2011 Equity RedBrick Health $5,000,000
8/11/2011 Equity Cymbet $1,579,000
8/12/2011 Equity Metafarms $346,000
8/16/2011 Equity AsystMe $185,000
8/17/2011 Equity DelaGet $100,000
8/22/2011 Equity TST Media $3,500,000
8/26/2011 Equity ActiFi $137,000
8/26/2011 Equity PetChatz $125,000 *
8/31/2011 Equity Consumer Agent Portal $18,000,000
9/1/2011 Equity PointTunes $50,000
9/7/2011 Equity OnPoint Medical $525,000
UNK Equity 3D Sports Technology $60,000 *
UNK Equity Argos Risk $250,000
UNK Equity Cachet Financial $1,324,000
UNK Equity Echobit $25,000
UNK Equity ForMyChildren (stealth) $58,000
UNK Equity LeagueSafe $50,000
UNK Equity SecuroNet (stealth) $158,000
UNK Equity Totally Interactive Weather $200,000
UNK Equity Localoop $89,000

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