BOSTON–Massachusetts had a record-breaking year for venture capital funding, with $7.42 billion invested across 531 deals, Boston Business Journal reported.
According to calculations by Seattle-based venture capital research firm PitchBook, it was the highest-ever annual venture capital investment in at least 15 years.
This year’s dollar investment was 28 percent higher than the $5.76 billion invested across 584 Massachusetts companies last year, Boston Business Journal said.
Quoting the PitchBook, Boston Business Journal added the following:
The research shows that more money was invested in fewer companies this year. The biggest tech deals of 2015 were all cybersecurity companies: Boston-based Cybereason, which raised $59 million in Series A funding; Waltham-based Digital Guardian, which raised $66 million in Series D funding and Bit9 + Carbon Black, which raised a $55 million Series F round.
The tech companies whose valuations increased the most this year, according to PitchBook, were: Cybereason, whose valuation increased from $30 million to $225 million valuation; Boston real estate software firm Placester, whose valuation increased from $48 million to $130 million, and Boston cybersecurity firm Confer Technologies, whose valuation increased from $16.5 million to $41.8 million.
Massachusetts VC funding is in-line with that of New York, which saw $7.65 billion invested across 775 deals.
However, the San Francisco Bay Area still remains at the top — with a whopping $34 billion invested across 1,900 California companies, according to PitchBook, concluded Boston Business Journal.