From April through June, Venture Capitalists (VC) funded eight firms in Arizona with a total amounting to $92 million. In almost two years, no quarterly total has been as high as this one. According to the National Venture Capital Association and PricewaterhouseCoopers’ MoneyTree report with data presented by Thomson Reuters, this places Arizona’s first-half total investment at $123 million.
PricewaterhouseCoopers’ partner in Phoenix, Andy Coumides said, “This was a strong quarter for venture capital investments in Arizona, not only in terms of dollars invested but also number of deals.” Coumides did not attribute the strong quarterly results to any specific catalyst.
Arizona already exceeded the total VC investments amount secured last year. Centauri Health Solutions, a firm that offers government-sponsored software for health care programs and applications, acquired the greatest part of funding statewide amounting to $50 million.
Freshly Inc, a meal delivery startup, received $21 million in a series round while World View Enterprises, a space travel service provider, received $15 million. Other firms were Omedix of Scottsdale, $520,000; Emailage of Chandler, $1.8 million; and Solera Health of Phoenix, $4 million. Trusona and MobileLogix also secured funding in undisclosed amounts.
Throughout the entire nation, venture capitalists released $15.3 billion in 961 deals, where software firms enticed over half the total, approximately $8.7 billion. Biotechnology and information technology came next securing $1.7 billion and $946 million, respectively.
April to June 2015 was recorded as the strongest quarter for VC investments since 2000. In the latest quarter, California attracted $10.7 billion, leading all the states. New York ranked second place with $1.2 billion, while Arizona came in 14th place.
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