Despite COVID-19, the economy of the Greater Baltimore region remained diverse and resilient, recording one of its best investment quarters ever with more than $556 million in total investment.
“The Economic Alliance of Greater Baltimore has emphasized the Region’s richness in the assets that attract talent and investment,” said EAGB President & CEO Michele Whelley. “The exponential increase realized over the past two years is a testament to this richness and underscores Greater Baltimore’s status as a hub for research, innovation and entrepreneurship.”
More specifically, this year’s first quarter saw gains by Howard County-based SparkPost, a global leader in email analytics and delivery, receiving $180 million in Private Equity investment; AbsoluteCARE’s $105 million Private Equity raise to expand its unique healthcare delivery model to more cities across the United States; Baltimore City’s Personal Genome Diagnostics that brought in $103 million Series C round to go to market with its FDA-approved genomic profiling diagnostic kit; and Delfi Diagnostics, a Johns Hopkins spin-out, completed a $100 million Series A round to support the development of early-detection blood tests for various cancers. Additionally, 10 other companies—from fintech to digital health to biofuels exemplifying the diversity of Greater Baltimore’s innovation economy and the “next wave” of successful start-ups — received investments totaling between $1 million and $15 million.
The first quarter investment is more than half 2020’s annual investment and more than the total investment realized in 2019.
For more information and to view the investment report, visit https://www.greaterbaltimore.
About the Economic Alliance of Greater Baltimore: The Economic Alliance of Greater Baltimore (EAGB) brings together business, government, education and non-profit leaders to market the Region’s economic development assets and opportunities. For more information, visit http://www.greaterbaltimore.
