At least 18 different Minnesota tech startups raised in excess of $31m during the third quarter of this year, according to information collected and analyzed from the period of July 1 – September 30th, 2013.
The data includes on the record activity compiled from multiple sources, while actual numbers are estimated to be higher by investors who are not inclined to disclose their activity. While imperfect, it’s a solid proxy of current local funding activity and trends — consider it a worse case scenario.
The figure is up ~20% YoY from Q3 2012, yet down from a record Q2 2013. As natural fluctuations do occur quarter to quarter, it will be interesting to observe where this year ends up relative to 2012’s total of 87 ventures & $145m gross raise. The largest rounds of this term include CAP – $6m, LeadPages – $5m and CloudCover – $3.14m.
A list of all the deals recorded during the third quarter of this year. Did we miss something? Leave a note…
*The MoneyTree™ Report by PricewaterhouseCoopers and the National Venture Capital Association based on data from Thomson Reuters.