After San Diego startups saw funding levels on par with the dot-com bubble last year, the deal-making and high valuations appears to be continuing into 2019.
Companies in San Diego County raised $889.65 million in the second quarter of 2019, up 19 percent from 2018, according to a July 8 report by Dow Jones VentureSource. Last year, startups raised $750.4 million in the second quarter.
The number of deals also increased by 25 percent year-over-year. In the second quarter of 2019, startups saw a total of 40 funding rounds, according to Dow Jones. In the same quarter last year, they saw 32 deals.
The local data reflects a broader trend. Across the U.S., funding levels for the second quarter increased by 5 percent year-over-year to $31.59 billion. Companies raised a total of 1,416 rounds, with the median deal size increasing to $8 million.
If the rest of 2019 follows this trend, the U.S. won’t top last year’s venture capital levels, but would come in at a close second, Dow Jones VentureSource Data Manager Jonathan Cohen wrote in an email. Last year, U.S. startups raised a total of $135 billion in funding. They would be on track to raise a total of $127 billion at the end of 2019.