At least 24 Minnesota tech ventures raised in excess of $28 million dollars in the first quarter of 2013, according to information collected and analyzed from Jan 1 through March 31, 2013.
The data includes on the record activity compiled from multiple sources and actual numbers are estimated to be 20%+ higher according to investors who are not inclined to disclose their investment activity publicly. While imperfect, it’s a solid proxy of current local funding activity and trends — considered a worse case scenario.
As a comparison — in Q1 2012, 24 companies raised $58.6m, heavily skewed by one anomalous $52.5m deal; a more balanced comparison would be that 23 companies raised $6.1m in Q1 2013. The largest deal of Q1 was UpdateLogic ($10.9m), followed by Cachet ($7.9m) and Conservis ($1.46m).
Company: $AMT – date
UpdateLogic – $10,973,000 UNK/PWCMT
Anser Innovation: $25k – UNKQ1/AITC
IndusTrack: $207k – UNKQ1/AITC
Card Cells: $262k – UNKQ1/AITC
SportsData: 822k – UNKQ1/AITC
Conservis: $1.46m – UNKQ1/AITC
CoraCove: $45k – UNKQ1/AITC
DealCurious: $105k – UNKQ1/AITC
Empathic: $107k – UNKQ1/AITC
Fitness on Request: $300k – UNKQ1/AITC
LeagueSafe: 100k – UNKQ1/AITC
Markupr.net: 955k – UNKQ1/AITC
MinuteBids: 25k – UNKQ1/AITC
MobileRealtyApps: 575k – UNKQ1/AITC
RowBot Systems (stealth): 155k – UNKQ1/AITC
Standard Health: $24k – UNKQ1/AITC