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.
|8/31/2011||Equity||Consumer Agent Portal||$18,000,000||–|
|UNK||Equity||3D Sports Technology||$60,000||*|
|UNK||Equity||Totally Interactive Weather||$200,000||–|