Maryland is on track to top $2 billion worth of venture capital deals in 2021, its highest ever total.
The state had 34 deals totaling almost $400 million in the third quarter of the year, according to the most recent PitchBook-NVCA Venture Monitor report, which is released quarterly with support from Silicon Valley Bank and Affinity.
Through three quarters of 2021, Maryland has had 134 deals worth about $1.6 billion, the report said. This surpasses the entire amount of venture capital raised in 2020, when companies in Maryland raised about $1.26 billion.
PitchBook-NVCA Venture Monitor revised some figures it released earlier this year, but Greater Baltimore still appears headed for a record-breaking year. The area had 13 deals totaling $72 million in Q3, pushing its year-to-date total past $500 million. That's just shy of 2020's $524 million VC total for the entire year.
These totals do not include the recent announcement by Hanover-based cybersecurity firm Dragos Inc. that it had raised $200 million in Series D funding. That appears to be the biggest single haul raised by a Maryland cybersecurity firm since 2015.
Here are the five largest venture deals in Maryland in Q3:
- Rockville’s Cellular Biomedicine Group $120 million Series A
- Gaithersburg’s Sirnaomics $105 million Series E
- Rockville’s Innovative Cellular Therapeutics $40 million Series C
- Linthicum Heights’s Real Time Medical Systems $20 million Series C
- Linthicum Heights’s Real Time Medical Systems $18 million Later Stage VC
Here are the five largest venture deals in the Greater Baltimore area in Q3:
- Linthicum Heights’s Real Time Medical Systems $20 million Series C
- Linthicum Heights’s Real Time Medical Systems $18 million Later Stage VC
- Baltimore’s Facet Wealth $17 million Later Stage VC
- Fulton’s Cloudtamer $10 million Series A
- Columbia’s Ravgen $2 million Angel
