Total technology industry future of work venture financing deals worth $1.89bn were announced in North America in February 2021, led by $750m venture financing of UiPath, according to GlobalData’s deals database.

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The value marked an increase of 101.5% over the previous month of $937.77m and a rise of 322.2% when compared with the last 12-month average of $447.7m.

North America held an 86.30% share of the global technology industry future of work venture financing deal value that totalled $2.19bn in February 2021. With an 86.30% share and deals worth $1.89bn, the US was the top country in North America’s future of work venture financing deal value across technology industry.

In terms of future of work venture financing deal activity, North America recorded 32 deals during February 2021, marking an increase of 88.24% over the previous month and a rise of 45.45% over the 12-month average. The US recorded 31 deals during the month.

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North America technology industry future of work venture financing deals in February 2021: Top deals

The top five technology industry future of work venture financing deals accounted for 70.9% of the overall value during February 2021.

The combined value of the top five technology future of work venture financing deals stood at $1.34bn, against the overall value of $1.89bn recorded for the month.

The top five technology industry future of work venture financing deals of February 2021 tracked by GlobalData were:

1) Alkeon Capital, Altimeter Capital Management, Coatue Management, Dragoneer Investment Group, IVP, Sequoia Capital VI and Tiger Global Management’s $750m venture financing of UiPath

2) The $200m venture financing of Highspot by Bain &Inc, ICONIQ Growth, Madrona Venture Group, OpenView Advisors, Salesforce Ventures, Sapphire Ventures, Shasta Ventures Management and Tiger Global Management

3) Charles River Ventures, EQT Ventures Fund, SK Networks, SoftBank Vision Fund II and TI Platform Management’s $150m venture financing of Standard Cognition

4) The $150m venture financing of SLocus Robotics by Bond Capital Partners (UK), Prologis Ventures, Scale Venture Partners and Tiger Global Management

5) Point72 Ventures’ venture financing of Shield AI for $90m.