2016年-数据局_Mattermark_2015美国创业公司风险投资发展趋势报告Mattermark_2015_Venture_Capital_Report_Final_40页_1mb

Mattermark 2015 US Startup Funding Report Summary

Core Content Overview

This report provides an analysis of venture capital funding trends for US startups from 2006 to 2015, with a focus on deal volume and capital deployment across various funding stages (Pre Series A, Series A, Series B, Series C, and Late Stage). It also explores the relationship between funding activity and the broader economic indicators such as the S&P 500 Index.

Key Trends and Insights

Overall Funding Trends (2006–2015)

• Deal Volume: Increased significantly over the past decade, with a notable 20% year-over-year (YoY) increase in 2015.
• Capital Deployment: Rose by 46% YoY in 2015, indicating a trend toward larger rounds and higher valuations.
• Seasonal Patterns: Deal volume tends to increase in January following the holiday slowdown in November and December.

Pre Series A

• 10-Year Trends:
  • Deal volume increased by 39% YoY.
  • Capital deployment increased by 32% YoY.
  • The 6-month average round size remained stable at $1.7 million.
• Top Deals (2015):
  • Globality: $10M
  • Sano: $10.25M
  • Stellar Labs: $8.6M
  • Jukely: $8M
  • Ground Signal: $8M
  • Cube26: $7.7M
  • Flexport: $6.9M
  • Stringify: $6.3M
  • Pixvana: $6M
  • PeerlQ: $6M

Series A

• 10-Year Trends:
  • Deal volume increased by 16% YoY.
  • Capital deployment increased by 43% YoY.
  • The 6-month average round size increased by 20%.
• Top Deals (2015):
  • Karhoo: $250M
  • Denali Therapeutics: $217M
  • Gritstone Oncology: $102M
  • Clover Health: $100M
  • Turing Pharmaceuticals: $90M
  • Atreca: $56M
  • Neon Therapeutics: $55M
  • Decibel Therapeutics: $52M

Series B

• 10-Year Trends:
  • Deal volume increased by 13% YoY.
  • Capital deployment increased by 32% YoY.
  • The 6-month average round size increased by 9%.
• Top Deals (2015):
  • Tenable Network Security: $250M
  • GitHub: $250M
  • OnceSource Virtual: $150M
  • Humacyte: $150M
  • Oscar: $145M
  • Jet: $140M
  • Editas Medicine: $120M
  • 21 Inc.: $116M
  • ZScaler: $110M
  • FinancialForce.com: $110M

Series C

• 10-Year Trends:
  • Deal volume increased by 7% YoY.
  • Capital deployment increased by 29% YoY.
  • The 6-month average round size reached a peak in November 2015.
• Top Deals (2015):
  • Zenefits: $500M
  • Jet: $350M
  • Affirm: $275M
  • Instacart: $220M
  • NantHealth: $200M
  • Purch: $135M
  • Apttus: $108M
  • Mirantis: $100M
  • Carbon3D: $100M
  • Crowdstrike: $100M

Late Stage

• 10-Year Trends:
  • Late Stage (Series D and beyond) capital deployment increased by 959% from 2006 to 2015.
• 2015 Trends:
  • Deal Volume: Slightly declined by 0.4% YoY, but January 2016 saw a significant increase.
  • Capital Deployment: Rose by 67% YoY, with a notable $4.1B deployed in January 2016.
• Top Deals (2015):
  • Uber: $2.8B (2015), $1.2B (2015), $1.0B (2015)
  • Airbnb: $1.5B
  • SoFi: $1.0B
  • SpaceX: $1.0B
  • Snapchat: $537M
  • Lyft: $530M
  • Pinterest: $367M
  • DocuSign: $300M

Methodology Notes

• Data is sourced from a variety of public databases and direct relationships with investors, community leaders, and startup founders.
• The report includes Angel, Seed, and "stageless" rounds of $1 million or less for Pre Series A.
• Late Stage rounds exclude those categorized as Private Equity.
• The report highlights that while deal volume and capital deployment have increased, the trends show some fluctuations and seasonal patterns.

Key Observations

• Healthcare Industry: Played a significant role in driving Series A and Series B deal sizes.
• Bay Area Dominance: Remained the most active region for capital deployment across all stages.
• Unicorn Startups: The rise of high-valued companies contributed to larger late stage rounds and higher valuations.
• Market Volatility: The stock market correction in August 2015 had a noticeable impact on seed round sizes, but overall funding continued to rise.

Conclusion

The 2015 report highlights a continued growth in venture capital funding, with significant increases in both deal volume and capital deployment across all stages. The report underscores the importance of understanding these trends in the context of broader economic factors and regional dynamics, particularly the dominance of the Bay Area in funding activity.