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VentureTrends Report - State Spotlight On Ohio

Thursday, July 16, 2015 9:51:00 AM PDT | VentureTrends Research
Summary

Venture capital funding of technology companies based in the state of Ohio for the five-year period of 2010 -2014 has seen significant changes.

Of the five-year period, 2012 was by far the best year, with Ohio-based companies raising in excess of $500 million.

2013 in 2014 showed a market decrease in results, however 2014 at least improved upon 2013's final tally with an increase to a nearly $400 million annual funding run rate.

Ohio companies across 28 industries received funding, indicating a wide dispersion of technologies garnering venture-capital firm interest. This is commensurate with other Midwest states, such as Texas, Illinois and Colorado.


Investment by Industry

The "Buckeye State" accounted for a total of 321 transactions during the five-year period. Medical Devices tallied 70 transactions, followed by Software at 53, Internet at 37 and biotechnology at 30.




Investment by Year

Ohio venture capital funding has shown marked differences during the five-year period, with the peak reached in 2012. Hopefully, a rebuilding is now occurring with improved results in 2014 versus 2013.





Investment by City

Cincinnati-based companies received in excess of $400 million in financing during the five-year period, followed by Cleveland-based companies at $291 million and Columbus companies garnering $225 million. Notably, three other tech hotspots accounted for at least $100 million in funding, Beachwood, Oakwood Village and Mason.





Investment by Round

Of the disclosed funding round stages, seed stage companies showed the greatest activity, with 26 disclosed fundings. Series A and Series B rounds followed closely at 22 and 21 instances respectively. If the "Undisclosed" category were allocated to other rounds, it is likely that these numbers would increase proportionately.




Investment Totals by Industry

Closely mirroring the number of companies receiving investment by industry, the chart below indicates that Medical Devices received the most investment, exceeding $300 million during the five-year period. Biotechnology firms came in second at $279 million, followed by Infrastructure at $200 million and Software at $191 million.

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