US VC funding falls in 2019 from near-record levels
US VC funding fell in Q4’19 and YoY: US VC-backed
companies raise $23B in Q4’19, down 16% compared to
Q3. YoY funding falls 9% to $108B; third biggest year ever.
$100M+ rounds fall for the second-straight quarter: 38
companies raise rounds worth $100M or more in Q4’19,
a sharp decline from 58 in Q3’19 and a record 67 in
Q2’19. The most $100M+ rounds ever (213) raised $47B
in 2019; the second biggest year of mega-round funding.
US technology IPOs fall for the second-straight quarter,
though YoY exits remain elevated: 20 US VC-backed tech
companies exit in IPOs in Q4’19, compared to 22 in Q3’19.
YoY IPOs increase, with 90 technology companies exiting
in IPOs in 2019, compared to 86 in 2018.
At the end of 2019, a record number of unicorn companies
remain in the US: As of EoY 2019, there are 199 US VC-
backed private companies valued at $1B+; up significantly
from 149 at the end of 2018.
Global deal activity, funding declines in last quarter of
North America, Asia, and Europe see combined funding
of $45B in Q4’19: Global VC funding falls 16% in Q4’19
compared to Q3’19.
Asia and Europe see increased deal activity, while North
American deals fall: North American deal activity declines for
the second consecutive quarter in Q4’19, and global financing
is down 12% in 2019.
Seattle is a bright spot amid quarterly declines in other US
Metros: Seattle quarterly funding hits a two-year high at
$897M as the region sees a $400M mega-round. Seattle VC-
backed startups raised $2.7B in 2019; their second largest
funding year ever.
Silicon Valley sees multiple $200M+ deals despite quarterly
drop in funding and deal activity: Silicon Valley funding falls
21% to $9B in Q3’19. Deals also fall sharply to 380
transactions; a 14% decline compared to Q3’19.
Source: PwC / CB Insights MoneyTree™ Report Q4 2019