Wisconsin deal flow data for calendar year 2016 show encouraging trends. The total dollar amount of investment increased by $7.4 million compared to the prior year, bringing the 2016 investment total to a record $261.7 million. In addition, the average deal size in 2016 was $810,000—nearly twice the average for 2015.

The data reported by Pitchbook, an investment research firm, show that 87 companies closed 100 funding rounds in 2016, compared to 113 companies closing 140 rounds in 2015. The drop in the number of deals comes primarily from a decrease in the number of deals smaller than $30,000—and this may be partly due to reporting error, since smaller deals are less likely to be publicized and therefore less likely to be counted by Pitchbook. Overall, the increase in investment, and the record level it reached in 2016, are significant, and worth celebrating.

Company valuation more than doubled from 2015 to 2016, indicating that Wisconsin’s startups are, on average, in a stronger position and more attractive to investors than they were a year ago. Read the full release here.