After Kirkland, Wash., and Stanford, Calif., Madison came in third on the firm’s list, which focuses on investment funding in the second quarter of this year. It spotlights three significant funding rounds: a $20 million Series A round for EnsoData; a $30 million Series B round by Moxe Health; and a $240 million Series E round for Fetch Rewards.

Fetch Rewards’ large round in April drove “a huge increase” in Madison’s funding growth, report authors wrote. The list shows a 793 percent growth rate for the city, calculated by comparing the total funding amount for the second quarter with the city’s average quarterly funding amount over the prior four quarters.

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