And that must include late-stage venture deals, too. Two companies based in the Lone Star State ranked in the Top 10 of largest “venture” deals done in the third quarter, according to a MoneyTree Report.
As my colleague Mark Boslet already reported today, venture deal activity took a dip as investments totaled $6.95 billion during the three-month period, with 876 deals receiving funding, according to the MoneyTree Report issued by PricewaterhouseCoopers and the National Venture Capital Association, based on data by Thomson Reuters, publisher of this blog. This was a 12% decrease in dollars and a 14% drop in deals from the second quarter, though capital allocated was up 31% from a year ago.
Just under half of the money invested in Q3 went to companies at the early or even seed stage of funding, according to MoneyTree. The average seed deal was $2 million, down from $3.3 million in the second quarter, and the average early stage deal was $5.7 million, down slightly from $5.8 million.
The average “expansion” stage deal was $9.6 million, up slightly from the prior quarter. The average later stage deal was $12.5 million. That is up from $11 million in the previous quarter and represents the largest average deal size for this stage in a decade.
For the 10 companies in the following slideshow, all raised either expansion or late stage funding. Combined, the top 10 raised just over $1 billion during the quarter, or about 13% of the total raised by all U.S. companies.
By the way, I politely disagree with my colleague Mark that some of the 10 deals listed here are “venture,” as designated by the MoneyTree. I argue that if you’re a 9-year-old company, and you’ve raised more than $483 million, you can’t call the latest funding venture-related. After you go through the list and you see the top money raiser, let us know what you think.
[slide title=”No. 10 Palantir Technologies”]
Location: Palo Alto, Calif.
Raised in Q3: $68M
Total Raised: $255M
Description: Develops data analysis software
Select Investors: The Founders Fund
[slide title=”No. 9 Essence Group Holdings Corp.”]
Location: Maryland Heights, Mo.
Raised in Q3: $70M
Total Raised: $70M
Description: Provides health insurance and software
Select Investors: Camden Partners, Kleiner Perkins Caufield & Byers
[slide title=”No. 8 ClearEdge Power”]
Location: Hillsboro, Ore.
Raised in Q3: $73.5M
Total Raised: $129.5M
Description: Makes power and heat energy systems
Select Investors: Kohlberg Ventures
[slide title=”No. 7 ZocDoc”]
Location: New York
Raised in Q3: $75M
Total Raised: $94.7M
Description: Provides booking appointment services online with doctors
Select Investors: Digital Sky Technologies, Goldman Sachs
[slide title=”No. 6 Valeritas”]
Location: Bridgewater, N.J.
Raised in Q3: $75.8M
Total Raised: $231.9M
Description: Operates as a med tech company
Select Investors: Abingworth Management, Advanced Technology Ventures, CHL Medical Partners, Kaiser Permanente Ventures, MPM Capital, ONSET Ventures
[slide title=”No. 5 HelioVolt”]
Location: Austin, Texas
Raised in Q3: $85M
Total Raised: $198.05M
Description: Makes thin film solar products
Select Investors: Undisclosed
[slide title=”No. 4 Tumblr”]
Location: New York
Raised in Q3: $85M
Total Raised: $125.3M
Description: Operates an online publishing platform
Select Investors: Greylock Partners, Insight Venture Partners, Sequoia Capital, Spark Capital, Union Square Ventures
[slide title=”No. 3 Airbnb”]
Location: San Francisco
Raised in Q3: $112M
Total Raised: $119.8M
Description: Operates a community rental marketplace
Select Investors: Andreessen Horowitz, Digital Sky Technologies, General Catalyst Partners, Greylock Partners
[slide title=”No. 2 Cvent”]
Location: McLean, Va.
Raised in Q3: $135M
Total Raised: $147.87M
Description: Provides Web-based enterprise software for the event planning industry
Select Investors: Greenspring Associates, Insight Venture Partners, New Enterprise Associates
[slide title=”No. 1 Reata Pharmaceuticals”]
Location: Irving, Texas
Raised in Q3: $300M
Total Raised: $484M
Description: Develops oral anti-inflammatory drugs.
Select Investors: Undisclosed.