After raising near-record amounts in 2018, San Diego startups continued to draw big investments into the new year. In the first quarter of 2019, San Diego companies raised $204 million over 20 deals, down from $358.4 million in the first quarter of 2018, according to a report released on April 9 by PricewaterhouseCoopers and CB Insights.
Nationwide, the amount of funding increased slightly compared with 2018. U.S. companies raised a total of $24.6 billion across 1,279 deals in the first quarter of 2019, compared with $22.8 billion across 1,524 deals at the beginning of 2018.
Though funding in 2019 fell from the explosive funding rounds of late 2018, the U.S. had a record number of unicorns, or private companies valued over $1 billion, with 147 reported in the first quarter. The new year also saw a handful notable companies going public, including Gossamer Bio’s $276 million IPO. The company was valued at $966 million when it went public, making it the third top-valued IPO in the country behind Lyft and Alector Biosciences.