The Partnership sends updates for the most important economic indicators each month. If you would like to opt-in to receive these updates, please click here.
For the latest data, click here.
Houston companies received $173.7 million in venture capital (VC) investment in Q1/20, up 57.7 percent from Q1/19, according to a Partnership analysis of PitchBook data. The bulk of the investment came in a $125 million late-stage round to the financial software firm HighRadius, a deal which boosted the company’s valuation to over $1 billion. This was also the largest VC deal for a Houston tech company in the past 20 years, according to PitchBook data. The latest numbers don’t yet reflect the impact caused by the COVID-19 shutdown, though Q2 fundings could take a significant hit. For the 12 months ending March ’20, VC investments in Houston totaled $662.6 million, a 68.3 percent increase from the same period last year.
While overall investment volume was up, deal counts were down from Q1/19. Startups closed 19 VC deals in Q1/20, down from 26 deals during the same quarter last year.
Broken out by industry sector:
• Health Care, 10 deals worth $35.2 million,
• Information technology, three deals worth $133.0 million,
• Business Products and Services (B2B), three deals worth $3.6 million,
• Consumer Products and Services (B2C), three deals worth $1.2 million,
• Energy, one deal worth $0.6 million.
Among the notable life science deals, ImmunoMet, a therapeutics company, received $13.6 million in late stage funding; the medical device firm Noninvasix, a product of the TMCx accelerator, received $3.6 million; and the digital health platform Vivante Health received $8.5 million in early stage funding.
Prepared by Greater Houston Partnership Research
Director, Data Analytics
Houston companies received $173.7 million in VC funding in Q1/20