PACT Tracks Outstanding Results for Philly Capital in New Venture Report

Breaking down all key trends in Philly MSA from 2019, powered by PitchBook Data

February 18, 2020 (Philadelphia, PA) — PACT announces the release of its 2019 Philadelphia Venture Report with data produced by PitchBook. Philadelphia’s “grit” sets the region apart and this report showcases how Philadelphians are increasingly using their inner grit and industry passion to fuel innovation. It identifies key trends and advancements in Philadelphia’s 2019 capital activity. The report was sponsored by 11 organizations: Bridge Bank, Ben Franklin Technology Partners of Southeastern PA, BioAdvance, CEO Council for Growth, EY, Janney Montgomery Scott, Life Sciences PA, Penn Medicine, Toppan Merrill, University City Science Center, and Wilson Sonsini.

According to PitchBook’s data:

At $2.5 billion invested across 225 venture financings, Philly’s venture ecosystem closed out a record 2019 for both dollars invested and the number of deals closed. Philadelphia is firmly in the top ten venture capital markets in the U.S. ranking 7th in dollars invested in 2019. Moreover, the region’s pharma & biotech sector commanded more than $1 billion in overall deal value, also setting a record.

The 2019 Philadelphia Venture Report uncovers the underlying drivers of the robust Philly ecosystem, exploring datasets ranging from VC activity by sector to the sustained rise in the participation of outside investors.

Additional highlights include:

  • goPuff’s massive $750M investment from SoftBank
  • Analysis of the drivers behind Philly’s angel & seed VC deal activity
  • Highlight of the growing capital flowing to Philadelphia startups from other top markets
  • Examination of the annual growth in corporate venture investment over the past decade

“The Philadelphia entrepreneurial community is no longer the ‘best kept secret.’ From cutting edge cell and gene therapy to enterprise software and even digital convenience delivery, Philadelphia’s entrepreneurs are setting the pace for innovation, fundraising and deals,” shared PACT President and CEO Dean Miller. “We thank Pitchbook and our sponsors for their partnership and look forward to working with the region to continue to elevate Philadelphia together!”

The full report is now available. Click here: https://philadelphiapact.com/2019-philadelphia-venture-report/

About the Contributors:

PitchBook

PitchBook is a financial data and software company that provides transparency into the capital markets to help professionals discover and execute opportunities with confidence and efficiency. PitchBook collects and analyzes detailed data on the entire venture capital, private equity and M&A landscape—including public and private companies, investors, funds, investments, exits and people. The company’s data and analysis are available through the PitchBook Platform, industry news and in-depth reports. Founded in 2007, PitchBook has offices in Seattle, San Francisco, New York and London and serves more than 23,000 professionals around the world. In 2016, Morningstar acquired PitchBook, which now operates as an independent subsidiary. https://pitchbook.com/

Philadelphia Alliance for Capital and Technologies (PACT)

PACT’s vision is to be the go-to resource for fast growing companies, and a driver of entrepreneurship and innovation in the Philadelphia region. PACT provides its members with valuable content and connections to capital, talent, and customers that will accelerate their growth and success, and to collaborate with other organizations to drive innovation and entrepreneurship in the region. www.philadelphiapact.com

Media Contact:

Amanda Nardi Di Filippo

609-790-6206

[email protected]

-###-

2019 Philadelphia Venture Report

The PACT 2019 Philadelphia Venture Report is now available, powered by PitchBook Data and breaking down all key trends in the Philly MSA from last year.

At $2.5 billion invested across 225 venture financings, Philly’s venture ecosystem closed out a record 2019 for both dollars invested and the number of deals closed. Philadelphia is firmly in the top ten venture capital markets in the U.S. ranking 7th in dollars invested in 2019. Moreover, the region’s pharma & biotech sector commanded more than $1 billion in overall deal value, also setting a record.

The 2019 Philadelphia Venture Report uncovers the underlying drivers of the robust Philly ecosystem, exploring datasets ranging from VC activity by sector to the sustained rise in the participation of outside investors.

Additional highlights include:

  • goPuff’s massive $750M investment from SoftBank
  • Analysis of the drivers behind Philly’s angel & seed VC deal activity
  • Highlight of the growing capital flowing to Philadelphia startups from other top markets
  • Examination of the annual growth in corporate venture investment over the past decade

“The Philadelphia entrepreneurial community is no longer the ‘best kept secret.’ From cutting edge cell and gene therapy to enterprise software and even digital convenience delivery, Philadelphia’s entrepreneurs are setting the pace for innovation, fundraising and deals,” shared PACT President and CEO Dean Miller. “We thank Pitchbook and our sponsors for their partnership and look forward to working with the region to continue to elevate Philadelphia together!”

Read the full 2019 Philadelphia Venture Report.

Report Sponsors

 

Safeguard Scientifics leads $750,000 Seed Financing for MedCrypt, an early-stage medical device software security company

Core technology will secure communications between clinicians and connected medical devices at health systems

Philadelphia, PA and San Diego, CA, September 13, 2016 — MedCrypt, an early-stage medical device software security company, today announced the closing of $750,000 in seed round financing led by Safeguard Scientifics (NYSE:SFE) and a group of angel investors. Proceeds will be used to conduct commercial pilots with leading medical device vendors.

“The increased use of, and dependency on, connected devices at hospitals and health systems has revealed security risks and vulnerabilities, consequently putting patient safety at risk,” said Mike Kijewski, co-founder and CEO of MedCrypt. “While it’s distressing to think about a hacker remotely disabling a medical device, it’s far more unnerving to consider a hacker silently taking over a device and sending it malicious instructions, resulting in a patient’s injury or worse, death. MedCrypt’s software allows manufacturers to authenticate users, encrypt data, and cryptographically sign settings and patient prescriptions. MedCrypt also has the ability to monitor transactions between clinicians and devices for malicious behavior, protecting struggling health networks from unforeseen cyber threats. Our technology is designed to ensure that only instructions from a trusted source are executed by the medical device.”

Click here to read the full press release.