Philly’s Biggest Venture Capital Deals of 2015
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Whether they’re startups or well-established in their fields, companies of many shapes, sizes and categories were on the hunt for venture capital funding in 2015 — and business in biotechnology, software and medical devices cashed in big time.
Venture capitalists made more than $539 million in investments in Philadelphia-area companies 2015 — the most since 2008 ($675 million.) It represents a 15 percent increase from 2014, when $465 million was raised. The numbers come from the newly released PwC/NVCA MoneyTree Report based on data from Thomson Reuters.
In the fourth quarter of 2015, VCs invested $121 million — but that’s an 18 percent drop from Q4 of 2014, when $148 million was invested.
The fourth quarter was led by a $37.1 million raise by Galera Labs, a Malvern, Pa.-based company that’s developing new treatments for cancer patients. Accolade, a Plymouth Meeting, Pa.-based consumer health engagement platform for large employers and insurers, raised $16.1 million in the quarter.
Companies based in Philadelphia proper raised nearly $50 million in investment dollars in 2015, with $14 million coming in Q4. The largest raise was nearly $8 million by Sidecar Interactive Inc., which provides an automated online marketing platform for e-commerce companies.
Check out the following tables for more details:
Largest Greater Philadelphia VC Investments in 2015
| Company | Amount | City | Industry | Business Description |
|---|---|---|---|---|
| SevOne Inc. | $47,078,000 | Wilmington | IT Services | Provides IT performance management software. |
| Aclaris Therapeutics Inc | $38,199,600 | Malvern | Biotechnology | Specialty pharmaceutical company. |
| Galera Labs LLC | $37,103,000 | Malvern | Biotechnology | Develops drugs targeting the oxygen metabolic pathways. |
| Intact Vascular Inc. | $35,309,000 | Wayne | Medical Devices and Equipment | Develops minimally invasive peripheral vascular products. |
| Neuronetics Inc. | $34,342,900 | Malvern | Medical Devices and Equipment | A medical device company. |
| Coredial LLC | $27,500,000 | Blue Bell | Software | Offers software-as-a-service platform. |
| CloudBees Inc. | $22,976,000 | Lewes | Software | Provides a continuous delivery platform as a service. |
| Accolade Inc. | $22,500,000 | Plymouth Meeting | Healthcare Services | Provides healthcare-related information services. |
| InfaCare Pharmaceutical Corp. | $20,000,000 | Trevose | Biotechnology | Operates as a specialty pharmaceutical company. |
| PhaseBio Pharmaceuticals Inc. | $19,100,000 | Malvern | Biotechnology | A biopharmaceutical company. |
Largest Greater Philadelphia VC Investments in Q4 of 2015
| Company | Amount | City | Industry | Business Description |
|---|---|---|---|---|
| Galera Labs LLC | $37,103,000 | Malvern | Biotechnology | Develops drugs targeting the oxygen metabolic pathways. |
| Accolade, Inc. | $16,100,000 | Plymouth Meeting | Healthcare Services | Provides healthcare related information services. |
| Velicept Therapeutics Inc. | $11,329,000 | Malvern | Biotechnology | A clinical development company. |
| Sidecar Interactive Inc. | $7,999,900 | Philadelphia | IT Services | Provides an automated online marketing platform for e-commerce companies. |
| Phenom People Inc. | $6,830,000 | Horsham | Software | Phenom People is a talent relationship marketing company. |
| Agilence, Inc. | $6,000,000 | Mount Laurel | Software | Offers cloud-based reporting solutions. |
| Freedompay Inc. | $5,600,000 | Wayne | IT Services | Engaged in offering payment technology. |
| ReliefBand Technologies LLC | $5,000,000 | Jenkintown | Medical Devices and Equipment | A therapeutic technology company. |
| Ella Health Inc. | $4,608,000 | West Chester | Healthcare Services | Provides services, including mammography and physical therapy. |
| Journey Sales, Inc. | $3,400,000 | Conshohocken | Software | Provides customer engagement solutions for sales professionals. |
Metro Philly VC Funding by Category
| Industry | 2013 Total | 2014 Total | 2015 Total |
|---|---|---|---|
| Biotechnology | $153,110,000 | $191,902,000 | $160,898,600 |
| Business Products and Services | $0 | $52,541,000 | $9,000,000 |
| Computers and Peripherals | $0 | $100,000 | $250,000 |
| Consumer Products and Services | $6,950,000 | $530,000 | $5,875,000 |
| Electronics/Instrumentation | $0 | $3,205,000 | $2,055,200 |
| Financial Services | $0 | $13,506,000 | $50,000 |
| Healthcare Services | $36,100,000 | $5,075,000 | $45,307,800 |
| Industrial/Energy | $1,285,000 | $54,790,100 | $11,725,100 |
| IT Services | $79,110,100 | $19,513,100 | $70,696,900 |
| Media and Entertainment | $2,888,900 | $4,025,200 | $2,100,000 |
| Medical Devices and Equipment | $19,823,000 | $14,625,000 | $122,284,700 |
| Networking and Equipment | $200,000 | $0 | $500,000 |
| Other | $0 | $0 | $75,000 |
| Retailing/Distribution | $100,000 | $400,000 | $0 |
| Semiconductors | $350,000 | $565,000 | $0 |
| Software | $95,114,200 | $104,727,200 | $106,288,000 |
| Telecommunications | $100,000 | $150,000 | $2,200,200 |
| TOTAL | $395,131,200 | $465,654,600 | $539,306,500 |
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