Updated as of 5/21/2019: An examination of Minnesota based technology companies based on the gross amount of investment capital received since inception. Excluding Private Equity (majority buyout) deals & debt financing, here are Minnesota’s 25 most funded tech firms based on public disclosure and years of archived reporting:
Remember KeyedIn Solutions, the Bloomington-based ERP SaaS firm with a vision to become a $100m company in three years and ultimately IPO?
The company is now raising ~$7.5m with ~$2.7m claimed, according to a new SEC filing.
At least a dozen private tech companies in Minnesota collectively fundraised $58m during the fourth quarter of this year, according to information collected and analyzed from the period of October 1 – December 31, 2013.
The data includes on the record activity compiled from multiple sources, although 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 dollar amount is nearly doubled from the previous quarter yet on par with same period last year; the largest rounds of this term include JAMF Software – $30m, SmartThings – $12.5m, Once Innovations – $5.3m. Below is a list of those on record:
Now capitalized over $2om (+undoubtedly some friends and family money from Epicor), CEO and veteran ERP exec Lauri Klaus has publicly stated KeyedIn’s goal on no uncertain terms: $100m in annual revenue by three years, eventually to become a $1b public company.
By Tim Engstrom, news-press.com
The Minneapolis-based company, which provides software solutions in the cloud to anyone with an Internet connection, has opened a new office near Gateway to better serve its markets on the East Coast and in Europe.”
Sixty-one different local tech ventures raised over $65m during the second quarter of this year, according to verifiable information collected and analyzed from the period of April 1 through June 31, 2013.
Both the number of unique firms that received capital and the cumulative funding amount are the highest on record for Minnesota.
KeyedIn offers both enterprise software (ERP) and services to verticalized markets such as manufacturing and professional service organizations.
At least 87 Minnesota tech ventures fundraised in excess of $145 million dollars last year, according to information collected and analyzed from Jan – Dec 2012.
The data includes on the record deals, whereas the actual numbers are estimated to be 25%+ higher according to many active investors who are not inclined to disclose their investment activity publicly.
Nonetheless, it’s a solid proxy of the local funding market activity and trends. As a comparison — in 2011 63 ventures raised $126m and in 2010 that figure was around 42 / $60m. There’s less of an “innovation contraction” in Minnesota and more of vibrant market for startups and investors, according to the facts.