Big Wave of Q2 VC Funding Washes Ashore in San Diego with $222M

Torrey Pines State Park San Diego

Tealium, which provides Web-based technology to help big brand-name organizations manage their metadata tags.

So how does San Diego stack up in comparison with other U.S. regions during the same quarter?

More than half the nationwide total was invested in Silicon Valley, with $7.1 billion going into 365 deals. Other regions, in descending order of total capital invested, based on MoneyTree data:

2) New York metro area: $1.2 billion; 122 deals.

3) Boston metro: $1.08 billion; 101 deals.

4) Seattle metro: $359 million; 31 deals.

5) Washington, DC, metro: $247.3 million; 58 deals.

6) San Diego: $222 million; 26 deals.

7) Austin, TX: $168 million; 29 deals.

8) Colorado: $151 million; 20 deals (19 in Denver-Boulder).

Another survey of second-quarter venture activity released by Dow Jones VentureSource showed that VCs invested a total of $294 million in 17 deals in the San Diego area. (Different venture activity surveys use different sources, criteria, and methodology to count venture deals.)

According to MoneyTree data, the Top 10 deals in San Diego during the second quarter were:

—Otonomy; San Diego, $49 million, Biotechnology.

—Verdezyne; Carlsbad, $48 million, Biotechnology (Industrial Biotechnology).

—Cidara Therapeutics; San Diego, $32 million, Biotechnology.

—Sotera Wireless; San Diego, $20.7 million, Medical Devices & Equipment (Digital Health).

—Tealium; San Diego, $20 million, Software.

—On-Ramp Wireless; San Diego, $13.6 million, Networking Equipment.

—Inception 1; San Diego, $5.5 million, Biotechnology.

—Transaction Wireless; San Diego, $5.2 million, IT Services (Digital gift card).

—Sente; Encinitas, CA,  $5 million, Consumer (Cosmetics).

—Inception 5; San Diego, $5 million, Biotechnology.

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Author: Bruce V. Bigelow

In Memoriam: Our dear friend Bruce V. Bigelow passed away on June 29, 2018. He was the editor of Xconomy San Diego from 2008 to 2018. Read more about his life and work here. Bruce Bigelow joined Xconomy from the business desk of the San Diego Union-Tribune. He was a member of the team of reporters who were awarded the 2006 Pulitzer Prize in National Reporting for uncovering bribes paid to San Diego Republican Rep. Randy “Duke” Cunningham in exchange for special legislation earmarks. He also shared a 2006 award for enterprise reporting from the Society of Business Editors and Writers for “In Harm’s Way,” an article about the extraordinary casualty rate among employees working in Iraq for San Diego’s Titan Corp. He has written extensively about the 2002 corporate accounting scandal at software goliath Peregrine Systems. He also was a Gerald Loeb Award finalist and National Headline Award winner for “The Toymaker,” a 14-part chronicle of a San Diego start-up company. He takes special satisfaction, though, that the series was included in the library for nonfiction narrative journalism at the Nieman Foundation for Journalism at Harvard University. Bigelow graduated from U.C. Berkeley in 1977 with a degree in English Literature and from the Columbia University Graduate School of Journalism in 1979. Before joining the Union-Tribune in 1990, he worked for the Associated Press in Los Angeles and The Kansas City Times.