2019 tech investment funding off to a banner start
Technology funding volume for 2019 is on track to surpass 2018’s record high of $1.2B
May 22, 2019
- Technology funding volume for 2019 is on track to surpass 2018’s record high of $1.2B, already hitting one third of 2018’s total funding in just the first quarter and nearly halfway to the 5-year average of $831M. Software, artificial intelligence, and IoT firms saw majority of the tech investment in Q1, accounting for 86 percent of total funding.
- San Diego tech start-ups are growing throughout the metro with the help from accelerators, incubators, and established tech companies; therefore, investors and equity firms are becoming even more confident in the market’s innovation ecosystem with supplying capital.
- The significance of increasing capital provided for the growing tech companies is positively impacting demand for the San Diego office market. Kyriba, a cloud-based software company, relocated and consolidated from New York and expanded their footprint for a new 25,000 s.f. lease in UTC, and Measurabl, an ESG platform for commercial real estate, expanded their footprint to 10,000 s.f. in Downtown after being granted funding.
Source: JLL Research, Crunchbase