(Photo by Stephen Babcock)
In the second quarter of 2016, Maryland posted the lowest total of venture capital investments in the last two years.
In all, investors piped in about $72.2 million to companies, according to the latest MoneyTree Report from PricewaterhouseCoopers LLP and the National Venture Capital Association. The data is provided by Thomson Reuters.
That’s down from nearly $110 million in venture investment in the first quarter, and the lowest statewide total since the $63 million recorded in the second quarter of 2014. That year ended up being the lowest of the last five years.
Baltimore city’s lone two companies on the state’s top 10 deals of the quarter were Blispay’s $12.75 million, and a $7 million infusion for WellDoc that was tacked on to the company’s $20 million Series B. Just outside the city, Cockeysville’s SafeOp Surgical raised $3.75 million, and Healthcare Interactive’s $3.4 million also made the list.
A handful of Baltimore city companies helped drive the higher first quarter total in the state, with a trio of Series A rounds from Allovue, Protenus and Terbium Labs and Harpoon Medical’s $3.9 million deal with Edwards Lifesciences.
The first quarter also saw deals with Sonatype and Fugue that each infused more than $20 million. Baltimore-baesd later-stage IT company Catalyst DevWorks also raised $11.5 million that quarter to round out the top three.