Palo Alto ranks as the number one location for companies receiving VC funding thus far in 2019
With nearly $3 billion raised by companies in Palo Alto, the city ranks number one across both the Silicon Valley and Mid-Peninsula markets
July 17, 2019
- With nearly $3 billion raised by companies in Palo Alto, the city ranks number one across both the Silicon Valley and Mid-Peninsula markets with the largest amount of venture funding to companies located there since the beginning of 2019.
- Since the beginning of the year, VC funding in Palo Alto was spread across 68 companies in 43 industries.
- Across all cities, seed funding was the most popular stage of funding with a total of 80 transactions, followed closely by Series A funding across 72 transactions.
- The largest single funding transaction occurred in Mountain View-based autonomous vehicle technology company, Nuro, which received $940 million in Series B funding on February 11th of this year.
- The Artificial Intelligence industry saw the most companies receive funding (56 companies), while ranking 2nd in money raised by industry across all locations.
Sources: Crunchbase, JLL Research