Total technology industry venture financing deals in February 2020 worth $4.48bn were announced in the US, according to GlobalData’s deals database.

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The value marked an increase of 3.5% over the previous month and a drop of 8% when compared with the last 12-month average of $4.87bn.

The US held a 57.8% share of the global technology industry venture financing deal value that totalled $7.75bn in February 2020.

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In terms of deal activity, the US recorded 293 deals during February 2020, marking a decrease of 5.8% over the previous month and a drop of 28.4% over the 12-month average.

The US technology industry venture financing deals in February 2020: Top deals

The top five technology industry venture financing deals accounted for 37.5% of the overall value during February 2020.

The combined value of the top five technology venture financing deals stood at $1.68bn, against the overall value of $4.48bn recorded for the month.

The top five technology industry deals of February 2020 tracked by GlobalData were:

1) Altimeter Capital Management, Dragoneer Investment Group, ICONIQ Capital, Madrona Venture Group, Redpoint Ventures, Salesforce Ventures, Sequoia Capital Operations and Sutter Hill Ventures’ $479m venture financing of Snowflake

2) The $400m venture financing of Toast by Alta Park Capital, Bessemer Venture Partners, Durable Capital Partners, Greenoaks Capital Management, G Squared, Light Street Capital, T. Rowe Price Group, TCV, Tiger Global Management and TPG Capital

3) Accel, Base Partners, Canada Pension Plan Investment Board, Geodesic Capital, ICONIQ Capital, Lightspeed Management Company, PSP INVESTMENTS, Sapphire Ventures, Sequoia Capital Global Equities and Social Capital’s $340m venture financing of Netskope

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4) The $250m venture financing of Sambanova Systems by BlackRock, GV Management Co, Intel Capital, Redline Capital Management, Walden International and WRVI Capital

5) Coatue Management and Insight Partners’ venture financing of OneTrust for $210m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

 

Visit our ‘Technology Deals Dashboard’ for the latest trends in M&A, PE, and VC activity, top deals and advisory league tables in the technology industry.