Venture Capital Deals Lifting Many Boats in Seattle

Seattle ranked fifth among metro areas nationwide in attracting VC funds in Q3, new report shows
Updated: Wed, 10/09/2019 - 10:03
 
 
  • Seattle ranked fifth among metro areas nationwide in attracting VC funds in Q3, new report shows

A total of 278 venture capital deals in the greater Seattle area brought in an aggregate $2.5 billion in funds to area companies through the third quarter of this year, which is on par with the same period last year, when the same amount of money was invested in companies in the region across 256 venture capital deals, according to a just-released study.

For the third quarter of 2019, Seattle ranked fifth among metro areas nationally in the amount of venture capital dollars its companies attracted ― $970 million, according to the most recent Venture Monitor report produced by Pitchbook and the National Venture Capital Association.

Metro areas ranking ahead of Seattle on that front for the third quarter were the following: Silicon Valley (including San Jose and San Francisco), at $12.3 billion; New York City, $3.1 billion; Boston, $2.6 billion; and Los Angeles, $1.5 billion ― with San Diego and Atlanta close behind Seattle, with third-quarter marks of $996 million and $829 million, respectively.

Venture-capital deal value nationwide in 2019 is set to surpass $100 billion for the second year straight, marked by the rising tide of so-called mega-deals. Through the third quarter of 2019, 85 mega-deals ― those valued at $100 million-plus ― have closed. 

“These outsized [mega-deal] transactions comprise 43% of total 2019 deal value, which has continued to climb unabated to a total of $96.7 billion year to date [through the third quarter],” states the Venture Monitor report.

The Seattle area boasts three such mega-deals for the third quarter of the year. The companies and the amount of venture capital raised are as follows: international money-transfer platform Remitly, $220 million; real estate brokerage Flyhomes, $141 million; and enterprise contract-management company Icertis, $115 million.

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