Funding Trends
Baltimore Region Total Venture Funding by Year by UpSurge Baltimore – Swipe to compare to national funding trends
Baltimore Region Total Venture Funding by Year
Venture funding in the Baltimore region remained consistent with the previous two years, in line with the national trend. Activity remains well below the 2021 peak. The year’s largest funding rounds included Huntress (Series D), Delfi Diagnostics (Series B), and Impact Analytics (Series C), as reported by PitchBook, along with b.well Connected Health (Series C), as reported by Crunchbase.
Major changes from the 2024 Ecosystem Report:
- From 2023 data, Clasp Therapeutics (ManaT Bio) was removed due to its $120M Series A being based in Rockville, MD.
- From 2022 data, SamCart was removed based on its relocation to Austin, TX, and Y-Trap was removed due to its $25M Series B being based in San Francisco.
Baltimore Region Venture Deals Closed by Year by UpSurge Baltimore
Baltimore Region Venture Deal Count by Year
Startup deal volume continued to decline in 2024, with significant drops at every stage. The rise in Series Unknown deals indicates more solo investments and bridge investments.
The dataset includes the following deal types:
- Seed includes: Angel, Convertible Note, Equity Crowdfunding, Pre-seed, Seed.
- Early Stage VC includes: Early Stage VC, Series A, Series B, Venture Debt.
- Later Stage VC includes: Later Stage VC, Series C, Series D, Mezzanine, PE Growth/Expansion, Post-IPO Equity.
- Unknown Series includes: Funding Round, Venture – Series Unknown.
Median Deal Venture Size by Year by UpSurge Baltimore
Median Venture Deal Size by Year
Although deal volume fell at a similar rate across all stages, the median deal size nearly doubled year-over-year, driven by larger funding rounds at every stage, especially in the early stages where deals are typically the smallest.
Considerations For All Data Visualizations
Source: PitchBook, Crunchbase, Tracxn, Public Sources, Primary Sources
Datasets include the following deal types: Angel, Convertible Note, Equity Crowdfunding, Pre-seed, Seed, Early Stage VC, Series A, Series B, Venture Debt, Later Stage VC, Series C, Series D, Mezzanine, PE Growth/Expansion, Post-IPO Equity, Funding Round, Venture – Series Unknown. Data include deals worth more than $0.