A series of very large financing deals — including Cloudera ($900 million); TangoMe ($280 million); and Domo Technologies ($125 million) — helped propel U.S. venture capital totals to the highest level since second quarter of 2001. Investments jumped 44 percent to $10 billion, while deal activity rose five percent compared to the same quarter last year, according to a report out today from CB Insights.
“Yes the market is frothy,” wrote the authors of the report.
California saw more than half of venture capital investments, pulling in a whopping $5.75 billion, a 56 percent increase.
California was followed by Massachusetts ($899 million); New York ($843 million); and Texas ($565 million).
Washington state didn’t fare quite as well in the first quarter, as investments fell to $151 million, giving the state a rank of 7th in terms of dollars. It ranked fifth in number of deals, while Oregon ranked 21st. The fourth quarter was propped up in Washington state by one mega-deal of $125 million in Juno Therapeutics.
Washington state also was not helped by the fact that DocuSign, which raised $85 million during the first quarter, is classified as a California company even though the company’s offices and execs are split between Seattle and San Francisco.