Scouting VC Deals in the South Worth North of $10M
August 21, 2013
From literature and music to cuisine and customs, the Southern region of the U.S. is known for a plethora of American cultural influences. Information technology may not be counted among the South’s many charms, and while it’s true the IT industry is not as predominant in the region as, say, in Silicon Valley, with Texas-based Ambiq Micro’s recent closing of a $10 million Series B round, we decided to take to the PitchBook Platform to check out Southern companies wrangling in large VC financings.
Since the beginning of 2009, 129 companies headquartered in the South have closed a VC funding round of at least $10 million. The IT industry accounts for the lion’s share of those deals at 41%. Companies in the healthcare industry have been injected with capital through 27% of the deals, with energy and B2B businesses accounting for about a tenth of the deals each. Texas-based GENBAND, which makes IP multimedia app software and infrastructure products, landed the largest deal in the timeframe, roping in over $343 million earlier this year.
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