State tech startups raised $454M in 2019

Posted on Jul 6, 2020 :: Insight on Business, Web Exclusive
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Posted by of Insight Publications

Wisconsin tech startups raised a total of $454 million in investment capital in 2019 — surpassing the $400 million mark for the first time in a calendar year.

The data was presented in “Wisconsin Investments: On the Rise,” a report conducted by the Wisconsin Technology Council and Tech Council Investor Network.

While the Madison area leads the state in raising early-stage investing dollars, TitletownTech’s presence in the New North is leading to more local deals. A partnership between the Green Bay Packers and Microsoft — along with other investors — TitletownTech’s venture fund made three investments in startups during 2019:

  • $1 million to Boost Energy
  • $500,000 to Strive Orthopedics
  • $100,000 to Innov8 Languages

Also in Northeast Wisconsin, the Winnebago Seed Fund in Neenah joined with the BrightStar Wisconsin Foundation to invest $700,000 in Abre Technology.

Some other trends from the report include:

  • A larger share of companies — 41.5 percent — raised funding for the first time than in the past three years
  • Equity funding — 57.7 percent — was the No. 1 way early-stage businesses funded their endeavors. Debt funding finished second at 17.1 percent, and 6.5 percent of companies used a combination of the two.
  • More women-owned or women-led businesses raised funding this year — 22 percent of the total.