Seattle on pace for second consecutive year of record-breaking venture capital investment
Building on the success of 2018, in which Seattle raised an unprecedented $5.1B in venture capital, the Puget Sound is on pace for another record-breaking year
August 07, 2019
- Building on the success of 2018, in which Seattle raised an unprecedented $5.1B in venture capital, the Puget Sound is on pace for another record-breaking year. Seattle’s 2019 year-to-date venture capital investment stands 18.6 percent greater than 2018 through July – already surpassing total annual investment 2010-2017.
- While Seattle’s 2018 venture capital was well behind Bay Area investment, it has benefited immensely from the funding of out-of-state startups. Seattle’s rich concentration of talent has fueled a significant migration of software engineering offices to the Puget Sound this cycle – half of which hail from California-based companies.
- In 2018, software-focused companies took the lion’s share of U.S. venture capital, with 41.4 percent of all deals. This bodes well for Seattle, which stands near the top of the pack in terms of tech employment. Despite significant cost of living increases this cycle, Seattle ranks as one of the most appealing markets for both domestic and international tech talent.
- Second only to software investment by volume comes life sciences. Led by local institutions like the Fred Hutchinson Cancer Research Center, Allen Institute for Brain Science and Juno Therapeutics, Seattle has seen a 17.4 percent growth in life science employment since 2014. Puget Sound life science growth is expected to continue as it contends with saturated markets like Boston and San Francisco.
Source: JLL Research, Forbes, Crunchbase, PItchBook