Venture Capital Funding Triples In St. Louis

Photo courtesy of Creative Commons
Photo courtesy of Creative Commons

Seventy-five startup companies raised money in the St. Louis area in 2013, and 33 of them attracted $1 million or more, according to Jay DeLong, the St. Louis Regional Chamber’s vice president for new ventures.

DeLong has been tracking money raised by early-stage tech and biotech firms since he came to town in 2006. The figures were always promising but predictable, with a dozen or so companies each year managing to raise $1 million or more. The 2013 figures are the highest in the seven years that DeLong has been keeping track, and the million-plus tally was more than double the previous high.

The $380 million invested in St. Louis startups last year is a stunner too, but it comes with an asterisk. Roughly $200 million went to Answers, an Internet company in University City that raised money for an acquisition. DeLong thinks there’s a need for a similar amount of money this year: He counted more than 50 brand-new companies in 2013, many of which will need to raise significant sums soon.

Read more from the St. Louis Post-Dispatch

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