With 2018 now distant in the rearview mirror, venture capital numbers for the year have started to trickle in and the dominant narrative, while assessing the year in VC, is that there's more money than ever, despite fewer deals.
In the United States, $99.5 billion in venture capital was raised, the highest since the dot com era; yet that total amount was spread across 5,536 deals, the lowest since 2013, according to PwC & CB Insights' MoneyTree report. These two figures indicate that, in the U.S. and globally, the venture landscape is being anchored by large (monster) rounds.
And if you're searching for an example of this trend, look no further than Florida's 2018.
Of the $992 million raised in the state in 2018 (across 101 deals), $760 million - a whopping 76 percent - came from the top ten funding rounds. So, given the weight these deals carry, let's take a look at the top 10 Florida venture deals, according to PwC and CB Insights.
Magic Leap, Plantation, $461,000,000
- Investors: Public Investment Fund of Saudi Arabia; Undisclosed
- Details: In March, Magic Leap, the makers of an augmented reality headset that has yet to release a product to market, raised $461 million from the Kingdom of Saudi Arabia’s sovereign investment arm. This amount was added on to its $502 million Series D from October, 2017, bringing that total round now to $963 million. The startup has raised a staggering $2.3 billion to date.
FairWarning, Clearwater, $60,000,000
- Investors: Mainsail Partners
- Details: FairWarning, a provider of security solutions for the healthcare and financial services industries, raised a $60 million “growth equity investment” round from Bay Area capital market company Mainsail Partners. According to the company, the funding round will be used towards expanding the company's focus on customer success and accelerating product innovation.
A-LIGN, Tampa, $54,500,000
- Investors: FTV Capital
- Details: Cybersecurity firm A-LIGN, which specializes in helping businesses navigate the complexities of regulatory and compliance needs, raised a $54.5 million growth equity round in July from Bay Area-based FTV Capital. As part of the funding, FTV’s Liron Gitig and Richard Garman joined A-LIGN’s board of directors.
MDLIVE, Fort Lauderdale, $50,000,000
- Investors: Cigna, Health Care Service Corporation, Health Velocity Capital, Industry Ventures, Novo Ventures
- Details: MDLIVE, one of the country’s largest telehealth platforms, raised a $50 million growth investment in August. The round was led new investor Health Velocity Capital and existing partners Cigna and HCSC, with participation from Novo Ventures and Industry Ventures.
Metrc, Lakeland, $50,000,000
- Investors: Casa Verde Capital, Tiger Global Management
- Details: Metrc, a marijuana tech company, raised a $50 million round from Tiger Global Management and Casa Verde Capital. Metrc has developed a “track-and-trace system,” which is positioned as a turnkey solution for cannabis regulators.
Oncology Analytics, Fort Lauderdale, $21,000,000
- Investors: BlueCross BlueShield Venture Partners, McKesson Ventures, Oak HC/FT Partners, Sandbox Industries
Sentieo, Satellite Beach, $19,000,000
- Investors: Centana Growth Partners
Avalon Healthcare Solutions, Tampa, $16,500,000
- Investors: Francisco Partners, HCSC Ventures
CareStack, Celebration, $16,000,000
- Investors: Accel, Eight Roads Ventures, F-Prime Capital
YellowPepper, Miami, $12,500,000
- Investors: Visa
