By Cynthia Clarfield Hess, Mark A. Leahy and Khang Tran
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Background
We analyzed the terms of 215 venture financings closed in the second quarter of 2019 by companies headquartered in Silicon Valley. The quarter showed the highest percentage of up rounds since 2004, when we first started publishing this report, and the strongest rise in median price increases since mid-2015.
Key Findings
- Strong Valuation Results Improved Moderately
- Series B and C Financings Valuations Were Stronger Compared to the Prior Quarter
- Software Industry Showed Strongest Valuations
- Across the U.S., exit activity surged in the second quarter, with the highest number of IPOs since Q2 2015 and the greatest aggregate amount raised in more than 10 years. Acquisition deal volume and aggregate deal value also increased in Q2 compared to the previous quarter.
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