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.