Fifteen Minnesota Tech Ventures Raised $24m in Q3 2012


Money StackAt least 15 early-stage Minnesota tech companies raised a cumulative $24m in financing during the months of July, August and September according to information collected and analyzed for the third quarter 2012 Capital Review.

The data set represents a proxy of local investment activity into IT, saas, web/mobile, hardware and robotics.

That were undisclosed transactions, ongoing rounds, and those deals decidedly are off the record. The cumulative figure is also susceptible to volatility, considering the effect that any one company can have on the bottom line (see Code 42′s anomalous $52.5m Q1 raise).  The largest three rounds of Q3 were Healthsense’s $7m series D, $6.6m for CAP, and $3m for BringMeTheNews.  SmartThings also came through with $1.2m — Minnesota’s most successful Kickstarter crowdfunding campaign yet.

The expiration of the Minnesota Angel Tax Credits at the end of Q2 likely had an adverse effect on the amount of activity in the third quarter as investment in this sector of technology is comparatively down 30% year over year and 15% from last quarter.

Below is a list of the Minnesota tech companies that are on record as receiving investment capital during the second quarter of 2012; if anything was missed or appears erroneous, leave a comment.

KC Associates


Date Type Company Amt. Note(s)
 7/20/12  PreciouStatus  $1.2m
 7/19/12  Uber Pro Baseball  $250k
 7/27/12  BringMeTheNews  $3m
 8/7/12  FeedLogic  $678k
 8/30/12  KeyedIn Solutions  $2m confirmed
 9/4/12  riteSOFT  $50k
 9/10/12  KidBlog  $400k
 9/14/12  Consumer Agent Portal  $6.6m
 9/15/12  Horse Sense Shoes  $125k
 9/17/12  AUDserv  $183k
 9/18/12  Healthsense  $7m
 9/23/12  SmartThings  $1.2m
 9/25/12  Anser Innovation  $1m
 UNK Optimine Software  $250k PWCMT
 UNK MinuteBids  $95k PWCMT