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Report Shows Strength in Minnesota Funding Ecosystem

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What to know about the PricewaterhouseCoopers/CB Insights MoneyTree Report on Q3 2020 Minnesota funding:

  • Minnesota funding in Q1 and Q2 were fairly modest with $103 million and $79 million being raised respectively
  • Q3 shows a healthier ecosystem with $600 million in raises, although this figure excludes at least one major raise — the $137 million Series B round by Eagan’s Preventice Solutions
  • The $600 million figure is overwhelmingly led by Bright Health’s massive $500 million Series E round
  • According to the report, Q3 2020 is overshadowed only by Q4 2019 (clocking in at $775 million and led by Bright Health’s Series D round — the largest in Minnesota history)
  • The top five raises as designated by the PricewaterhouseCoopers/CB Insights MoneyTree Report (again, excluding the Preventice Solutions Series B) are below

minnesota-startup-funding

Check out the full report.
Alex Skjong
Alex Skjong
Alex oversees the content produced for BETA, Twin Cities Startup Week, and tech.mn. When he’s not writing or editing, there’s a good chance he’s enjoying a refreshing brew and explaining the merits of heavy metal (of which there are many).

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