Here are the top VC deals in Ohio in 2020 - Crain's Cleveland Business

In Ohio, funds raised by venture capital-backed startups grew about 15% in 2020 over the prior year, according to data collected by PwC and CB Insights.

A few Northeast Ohio companies participated in that activity with significant raises, including Within3, a Lakewood-based software company; BoxCast, a live-streaming platform in Cleveland; and Neuros Medical, a neuromodulation company in Willoughby Hills.

In total, 2020 was a record-breaking year for VC-backed firms, according to the report, with nearly half of all VC funding generated coming from $100 million-plus "mega-rounds."

Exits via initial public offerings also increased for the third straight quarter in Q4 2020, leading to a record number of IPOs in 2020. Much of this activity was driven by special purpose acquisition companies (SPACs), such as Cleveland's Zanite Acquisition Corp., which raised $232 million in an IPO announced in November.

VC-backed American companies raised nearly $130 billion in 2020, an increase of 14% over 2019.

However, overall deal activity decreased 9%.

In Ohio, there was about $920 million in VC investments over 67 deals in 2020, compared with $802 million over 78 deals in 2019.

You can find a list of the largest Ohio VC deals in 2019 here. That list includes companies such as Independence-based cybersecurity firm Keyfactor.

Here are the top-10 VC deals in Ohio in 2020, which account for 76% of all VC dollars invested in the state last year:

• Olive (Columbus): $382.5 million raised over three rounds: $225.5 million Series G in Q4; $106 million Series F in Q3; $51 million Series E in Q1

• Within3 (Lakewood): $100 million in Q3

• Neuros Medical (Willoughby): $42.8 million in Q4

• Forge Biologics (Grove City): $40 million in Q3

• Aver (Columbus): $27 million in Q1

• The Mom Project (Cincinnati): $25 million in Q2

• Matic Insurance Services (Columbus): $24.5 million in Q4

• Branch Insurance (Columbus): $24 million in Q3

• BoxCast (Cleveland): $20 million in Q4

• MedVet (Worthington): $17 million in Q1

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Here are the top VC deals in Ohio in 2020 - Crain's Cleveland Business
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