Updated: 2015 Was A Banner Year For Minnesota Tech: 104 Ventures Raised ~$388 Million


Redpath3[Update 2/11/15 @8:45pm – multiple sources have confirmed that Parker Hannifin’s investment into Exosite Q3 was $38.5m]

A strong fourth quarter pushed 2015’s cumulative funding levels in Minnesota’s technology industry to a new high.

For five years counting, we’ve been following the paper trail to bring clarity around the investment climate here.  This annual review underwritten by RedPath and Company serves as proxy for local funding activity, including: crowdfunding, accelerators, angel investments, venture capital, corporate strategic, and private/growth equity.

Overall we counted 104 unique companies that raised a combined ~$350  388 million dollars in 2015, making it the largest amount in a single year — ever.

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Our goal is to provide Minnesota’s tech community with the most thorough reporting and transparent data set possible.  This does not include off the record transactions and undisclosed deals, so consider it a minimum threshold (for example, these three deals could easily add another $50m to the top line for 2015).

There’s many different angles to look at here and we’re still reviewing it all to see what stands out. Over the course of the coming weeks, we’ll highlight unique aspects and seek input from our readers ([email protected]/comment) as to what they want to see.  It’s also going to be a topic of discussion at the 2015 Midwest Capital Call next month.

Let’s start today by taking a look at the high level, here’s 2015 by quarter:

Top 11 single rounds in 2015

1) Code 42 – $85m in October

2) Exosite- $38.5m in July

3) Field Nation – $30m in September

4) Site Improve – $27.5m in December (only 50% counted considering they are split location)

5) LeadPages – $27m in June

6) Novu – $20m in April

7) Vidku – $17m in February

8) Ativa – $15m in September ($7m already counted)

9) Insite Commerce – $15m in January

10) Gravie – $12.5m in April

11) Conservis – $10m in December

When I Work, Sentera, TrackIF, and Questar Assessment all tied with $5m.

Here’s a look back at previous years:

2014: 119 companies raised $173m

2013: 115 companies raised $182m

2012: 87 companies raised $145m

2011: 92 companies raised $126m

2010: 42 companies raised $60m