Venture capitalists opened their checkbooks in Washington state in the second quarter as investors pumped $393 million into 27 deals, more than double the amount of investment over the previous quarter, according to a new report out today from venture capital database CB Insights.
That was enough to put Washington state in fourth place in terms of dollars invested, behind California, New York and Massachusetts.
Some of the biggest deals in the state during the quarter included ExtraHop Networks ($41 million); Avvo ($38 million); and Smartsheet ($35 million).
Internet deals accounted for 41 percent of all deals, followed by healthcare at 19 percent. Series B and Series C deals accounted for 53 percent of all deals during the quarter, while series A deals fell to just 18 percent.
California remained the top dog in terms of venture capital, accounting for 64 percent of all investments. That was followed by New York and Massachusetts at eight percent, with Washington state accounting for three percent of all VC investments.
Meanwhile, Oregon — whose startup scene continues to gain momentum — ranked 20th in terms of deals with eight investments bringing in $88 million.
(GeekWire tracks venture capital deals here, so you can see the activity occurring in the Pacific Northwest).
Nationally, it was also a strong quarter as 974 companies raised $13.8 billion, a significant uptick over the $9.9 billion invested in the first quarter.
Part of the reason for that surge is major financing rounds at valuations of $1 billion or more.
