Orange County innovative companies raise nearly $1.0 billion in 2019 led by medical device industry
Orange County tech and life science firms had another active year raising capital, totaling $990.6 million in 2019.
February 18, 2020
- The medical device sector led all funding, thanks in large part to Axonics Modulation ($127.0 million), Laboratory for Advanced Medicine ($86.0 million), and Swift Health Systems ($45.0 million). Additional significant investment rounds include Anduril (AI, $127.0 million), Acorns (fintech, $105.0 million), and Restaurant365 (software, $88.0 million).
- Orange County’s central location in Southern California enables companies to recruit highly educated and talented employees from Los Angeles and San Diego, in addition to the local talent living in Orange County.
- Expansion in Orange County’s tech and life science industries is also making an impact on the local office market. Looking at leases 20,000 square feet and greater signed in 2019, there was 3.5 million square feet of leasing activity, of which 40 percent came from tech and life science firms, including Alteryx (188,733 square feet), Epson America (150,342 square feet), and Ambry Genetics (109,948 square feet).
Source: JLL Research, Crunchbase