It’s good to be in the tech startup scene these days.
When the market gets this hot, it’s easy to lose track of all the transactions.
No. 5: Los Angeles. LA companies raised more than $560 million in the first quarter. Most of the money went to consumer and healthcare startups. Stance, a luxury socks startup, raised with the highest valuation at $245 million.
No. 4: Pacific Northwest. Companies here raised $687 million, with more than half of it going to the IT sector. Porch, which makes software to help homeowners find home repair professionals, saw its valuation jump 5.1x to $435 million. The region's median pre-money valuation also more than doubled from last quarter.
No. 3: Boston. Startups here raised a total of $1.3 billion in the first quarter of 2015. Healthcare and IT startups took in more than 85% of the total funding. Seres Health, a drug maker, was the highest valued company at $389 million.
No. 2: New York City. It barely beat out Boston, with $1.42 billion in VC money going to startups there. The IT and B2B sectors took in the lion's share, while consumer startups also raised about a quarter of the total money. Social commerce service Fancy had the highest valuation at $1.18 billion.
No. 1: San Francisco Bay Area. Startups in and around Silicon Valley raised $5.4 billion in the first quarter alone, which is more than the sum of all other regions combined. The IT sector raised $2.1 billion, while both the healthcare and consumer sectors also attracted more than $1 billion each. Cab hailing app Lyft had the highest pre-money valuation of $2 billion when it raised more than $500 million in March.
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