Home / Tech News / In 2020, VCs invested $428M into US-based startups every day

In 2020, VCs invested $428M into US-based startups every day


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u201cWe are delighted to support Simon and the team at PPRO as they continue to develop best-in-class local payment solutions,u201d commented Nathalie Kornhoff-Bru00fcls, managing director at Eurazeo Growth, in a statement. u201cAll signs for the future indicate that digital commerce, and even more so cross-border commerce, will continue to grow exponentially while innovation in payment methods remains strong. As a result, facilitating local payments is becoming increasingly complex. Payment service providers, however, no longer have a choice as merchants and their customers are pushing for the adoption.u201dn

u201cPPRO has proven to be the go-to problem solver in this area, providing the local payments technology and expertise that the worldu2019s biggest payment players rely on. Our investment reflects our confidence in the growth potential for PPRO and weu2019re excited to support PPRO and its team on their journey,u201d added Voria Fattahi, a partner at Sprints Capital, in a separate statement.n”,”protected”:false},”excerpt”:”rendered”:”

The pandemic has hastened a shift of most commerce becoming e-commerce in the last year, and that has brought a new focus on startups that are helping to enable that process. In the latest development, PPRO, a London-based startup that has built a platform to make it easier for marketplaces, payment providers and other e-commerce […]n”,”protected”:false,”author”:13119829,”featured_media”:1511311,”comment_status”:”open”,”ping_status”:”closed”,”sticky”:false,”template”:””,”format”:”standard”,”meta”:”outcome”:””,”status”:””,”crunchbase_tag”:0,”amp_status”:””,”relegenceEntities”:[],”relegenceSubjects”:[],”carmot_uuid”:”4752cced-cf64-3dc2-9f22-c1aa71115e55″,”categories”:[11160,449557100,15835174,576597428,576602979,20429,17396],”tags”:[576673059,63860,576606996,576846249,936158],”crunchbase_tag”:[576846250],”tc_stories_tax”:[],”tc_ec_category”:[],”tc_event”:[],”jetpack_featured_media_url”:”https://techcrunch.com/wp-content/uploads/2017/07/gettyimages-165418688.jpg”,”shortlink”:”https://tcrn.ch/3ishRxB”,”rapidData”:”pt”:””,”pct”:””,”premiumContent”:false,”premiumCutoffPercent”:1,”featured”:false,”subtitle”:””,”seoTitle”:””,”seoDescription”:””,”tc_cb_mapping”:[“slug”:”ppro”,”cb_name”:”PPRO”,”cb_slug”:”ppro-group-organization”,”cb_link”:”https://crunchbase.com/organization/ppro-group”,”slug”:”wellington-management”,”cb_name”:”Wellington Management”,”cb_slug”:”wellington-management-organization”,”cb_link”:”https://crunchbase.com/organization/wellington-management”,”slug”:”sprints-capital”,”cb_name”:”Sprints Capital”,”cb_slug”:”sprints-capital-organization”,”cb_link”:”https://crunchbase.com/organization/sprints-capital”],”associatedEvent”:null,”event”:null,”authors”:[13119829],”hideFeaturedImage”:false,”_links”:”self”:[“href”:”https://techcrunch.com/wp-json/wp/v2/posts/2097940″],”collection”:[“href”:”https://techcrunch.com/wp-json/wp/v2/posts”],”about”:[“href”:”https://techcrunch.com/wp-json/wp/v2/types/post”],”replies”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/comments?post=2097940″],”version-history”:[“count”:0,”href”:”https://techcrunch.com/wp-json/wp/v2/posts/2097940/revisions”],”authors”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/tc/v1/users/13119829″],”https://techcrunch.com/edit”:[“href”:”https://techcrunch.com/wp-admin/post.php?post=2097940&action=edit”],”author”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/tc/v1/users/13119829″],”wp:featuredmedia”:[“embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/media/1511311″],”wp:attachment”:[“href”:”https://techcrunch.com/wp-json/wp/v2/media?parent=2097940″],”wp:term”:[“taxonomy”:”category”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/categories?post=2097940″,”taxonomy”:”post_tag”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tags?post=2097940″,”taxonomy”:”_tc_cb_tag_taxonomy”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/crunchbase_tag?post=2097940″,”taxonomy”:”tc_stories_tax”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tc_stories_tax?post=2097940″,”taxonomy”:”tc_ec_category”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tc_ec_category?post=2097940″,”taxonomy”:”tc_event”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tc_event?post=2097940″],”curies”:[“name”:”wp”,”href”:”https://api.w.org/rel”,”templated”:true],”_embedded”:{“authors”:[“id”:13119829,”name”:”Ingrid Lunden”,”url”:””,”description”:””,”link”:”https://techcrunch.com/author/ingrid-lunden/”,”slug”:”ingrid-lunden”,”avatar_urls”:”24″:”https://secure.gravatar.com/avatar/6648ec93043f0f368091adece63c6d52?s=24&d=identicon&r=g”,”48″:”https://secure.gravatar.com/avatar/6648ec93043f0f368091adece63c6d52?s=48&d=identicon&r=g”,”96″:”https://secure.gravatar.com/avatar/6648ec93043f0f368091adece63c6d52?s=96&d=identicon&r=g”,”links”:”facebook”:”https://www.facebook.com/ingridlunden”,”twitter”:”https://twitter.com/ingridlunden”,”linkedin”:”https://www.linkedin.com/in/ingridlunden”,”crunchbase”:”https://www.crunchbase.com/person/ingrid-lunden”,”position”:”Writer”,”cbDescription”:”

Ingrid is a writer and editor for TechCrunch, joining February 2012, based out of London.nn

Before TechCrunch, Ingrid worked at paidContent.org, where she was a staff writer, and has in the past also written freelance regularly for other publications such as the Financial Times. Ingrid covers mobile, digital media, advertising and the spaces where these intersect.nn

When it comes to work, she feels most comfortable speaking in English but can also speak Russian, Spanish and French (in descending order of competence).”,”cbAvatar”:”https://crunchbase-production-res.cloudinary.com/image/upload/v1421351035/tbebbexwnizrc5qurxt4.jpg”,”twitter”:”ingridlunden”,”_links”:”self”:[“href”:”https://techcrunch.com/wp-json/tc/v1/users/13119829″],”collection”:[“href”:”https://techcrunch.com/wp-json/tc/v1/users”]],”author”:[“id”:13119829,”name”:”Ingrid Lunden”,”url”:””,”description”:””,”link”:”https://techcrunch.com/author/ingrid-lunden/”,”slug”:”ingrid-lunden”,”avatar_urls”:”24″:”https://secure.gravatar.com/avatar/6648ec93043f0f368091adece63c6d52?s=24&d=identicon&r=g”,”48″:”https://secure.gravatar.com/avatar/6648ec93043f0f368091adece63c6d52?s=48&d=identicon&r=g”,”96″:”https://secure.gravatar.com/avatar/6648ec93043f0f368091adece63c6d52?s=96&d=identicon&r=g”,”links”:”facebook”:”https://www.facebook.com/ingridlunden”,”twitter”:”https://twitter.com/ingridlunden”,”linkedin”:”https://www.linkedin.com/in/ingridlunden”,”crunchbase”:”https://www.crunchbase.com/person/ingrid-lunden”,”position”:”Writer”,”cbDescription”:”

Ingrid is a writer and editor for TechCrunch, joining February 2012, based out of London.nn

Before TechCrunch, Ingrid worked at paidContent.org, where she was a staff writer, and has in the past also written freelance regularly for other publications such as the Financial Times. Ingrid covers mobile, digital media, advertising and the spaces where these intersect.nn

When it comes to work, she feels most comfortable speaking in English but can also speak Russian, Spanish and French (in descending order of competence).”,”cbAvatar”:”https://crunchbase-production-res.cloudinary.com/image/upload/v1421351035/tbebbexwnizrc5qurxt4.jpg”,”twitter”:”ingridlunden”,”_links”:”self”:[“href”:”https://techcrunch.com/wp-json/tc/v1/users/13119829″],”collection”:[“href”:”https://techcrunch.com/wp-json/tc/v1/users”]],”wp:featuredmedia”:[“id”:1511311,”date”:”2017-07-05T09:52:29″,”slug”:”gold-coins-2″,”type”:”attachment”,”link”:”https://techcrunch.com/2019/03/24/the-ethics-of-internet-culture-a-conversation-with-taylor-lorenz/gold-coins-2/”,”title”:”rendered”:”Gold coins”,”author”:24893112,”license”:”source_key”:”getty images”,”person”:”gmutlu/iStock”,”authors”:[24893112],”caption”:”rendered”:”

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day”,”content”:{“rendered”:”

Despite a pandemic that sparked a global recession, 2020 was still a record year for venture capital investments into American startups.n

According to data shared by PitchBook and the National Venture Capital Association, investors poured $156.2 billion into domestic startups last year, or around $428 million for each day of the year. The huge sum of money, however, was itself dwarfed by the amount of liquidity that American startups generated, some $290.1 billion.n


n

The Exchange explores startups, markets and money. Read it every morning on Extra Crunch, or get The Exchange newsletter every Saturday.n


n

The exit-value figure was a record as well, as were the 321 rounds worth $100 million u2014 nearly one for each day of the year.n

But while the U.S. venture capital market in 2020 was hot, it was not newly so. In 2018 and 2019, VCs invested around $140 billion into domestic startups, making last year’s $156 billion result a record, but not a shocking departure from previous years.n

""A first read of the data indicates that the U.S. venture capital market is still getting larger in scale and later-stage in focus. But inside those well-worn trends are a host of notable movements that both underscore what we observed last year in real-timeu00a0and teach us something new about today’s venture capital market.n

So far, 2021’s startup financing and exit market appears to be the mirror of what we saw in late 2020. So we’d best understand the past so we can forecast what we’ll see in Q1 of 2021.n

To avoid getting too lost in the data, we’ll proceed by stage, pulling out key facts for each step of the startup lifecycle. Feel free to scroll to the one that makes the most sense for where your company is or where your fund invests.n

Seedn

In the U.S., seed deal count was high in 2020, around 5,227 per PitchBook’s estimates. Those rounds were worth just over $10 billion, making it the third year in a row in which American seed-stage startups managed around $10 billion in capital against around 5,000 rounds.n

Boring, yeah? Not really. Inside those numbers are the whole year’s ups and downs: The fact that the seed data is so close to 2018 and 2019 levels is almost silly.n

""n

The real surprise from seed, per PitchBook’s report, is that these valuations actually fell on a year-over-year basis in 2020. This, despite the fact that seed deal sizes rose.n

Considering these two trends at once, it appears likely that, on average, VC ownership as a percentage of seed-stage companies rose in 2020.n

Frankly I was just surprised to see a form of startup valuation decrease after expanding for nearly a decade.



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