US venture capital funding fell in the third quarter of 2019 as both funding levels and the number of deals both declined. As funding dips, the Unicorn herd has hit a new record as there are currently 180 private companies valued at over $1 billion. This is according to CB Insights most recent “MoneyTree” report.
According to the report, VC backed firms raised $26 billion in Q3 a 15% decline from Q2. Deals dropped by 16% to 1,304.
In comparison to Q3 of 2018, 1,528 companies were funded raising a total of $29.5 billion – so the declines are sequential as well as year over year.
On a more positive note, US VC funding year to date has a shot at topping 2018 – a record year when $117.2 billion was raised. Currently, for 2019, the total stands at $82.6 billion.
During the quarter, funding declined at all states from Seed to Series E+. The median Seed round stood at $2 million.
When looking specifically at Fintech funding, during Q3 147 Fintechs raised capital for a total of $3.8 billion. During Q2, Fintechs raised $5.2 billion in 164 deals. In Q3 of 2018, more deals received funding for a bit less money (182 deals for $3.1 billion).
The top Fintech deals were all for later-stage rounds ($200 million +). The top five Fintech deals were the following:
- Root Insurance – $350 million
- Robinhood – $323 million
- Stripe – $250 million
- C2FO – $200 million
- Gusto – $200 million