Venture funding raised by Maryland companies took a big jump in the second quarter of the year, as companies in the state raised a total of $226 million.
That’s a 180% increase over the first quarter total of $80 million, according to data from a PwC/CB Insights MoneyTree report. The number of deals also increased, from 19 in the first quarter to 21.
When it comes to overall totals, it marked a “a significant rebound for the state,” said Brad Phillips, a director in PwC’s Emerging Company Services practice. It came after totals dipped in Q1 coming off a year in 2018 that saw the highest VC haul since 2001.
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