Venture capital investment in central and southeast Wisconsin topped $83 million in the second quarter of 2019, down from $105 million in the year-ago quarter, according to a new report from PitchBook Data and the National Venture Capital Association.
For the quarter, Wisconsin startups secured funding across 17 deals, down from 22 deals in the second quarter of 2018. The deal and funding total in the quarter is four times the amount raised in the first quarter of 2019, when Wisconsin companies raised only $20 million across seven deals.
The biggest venture deal of the second quarter this year was Madison-based Redox raising $36 million. The company, which developed a secure network for exchanging health care data, initially reported it raised $33 million. The funding round was led by Boston-based Battery Ventures. Other investors in the round included Boston’s .406 Ventures, New York’s RRE Ventures and Intermountain Ventures of Salt Lake City.
The second-largest deal of the quarter was by Janesville-based SHINE Medical Technologies, which reported to the U.S. Securities and Exchange Commission on June 28 it had sold $18 million of a $30 million-funding round. Read the full story here.