Indiana VC Activity Down for Third Quarter, Up for the Year: Top 10 Deals

According to a new quarterly report put together by Seattle-based PitchBook and the National Venture Capital Association, Indiana’s VC and angel investment activity was down in the third quarter of 2016.

A total of 19 funding deals worth $22.7 million were logged by Indiana companies during Q3 of 2016, according to PitchBook data. That’s a slight decrease compared to the third quarter of 2015, when 14 deals scored $33.6 million in funding. It’s a more significant decrease when compared to the previous quarter of 2016, when 24 companies raised $70.3 million.

However, 2016 overall is shaping up to be a more active year than 2015, with more Indiana companies closing funding rounds. So far this year, a total of 62 deals have totaled $131.5 million. Last year, the first three quarters saw 50 deals worth a total of $130.6 million.

Without further ado, here are the top 10 Indiana-based funding deals of the third quarter:

Octiv, an Indianapolis-based software startup working on productivity tools for sales teams, raised $5 million.

Emu Technology, a South Bend big-data operation, raised $3 million.

Doxly, a legal tech startup based in Indianapolis, raised $3 million.

SmarterHQ, an Indianapolis-based startup developing contextual marketing software for retailers, raised $3 million.

180 Skills, which offers industrial and manufacturing training courses in Indianapolis, raised $2 million.

Bolstra, a Carmel-based maker of business productivity software, raised $2 million.

Owl Manor Veterinary, a Warsaw maker of regenerative medicine products for animal health, raised $1 million.

SmartFile, an Indianapolis enterprise file-sharing startup, raised $1 million.

Anagin, an Indiana University spinout developing treatments for PTSD, raised $1 million.

Gifted Custom Art, an Indianapolis paint-by-numbers startup, raised $1 million.

Sarah Schmid Stevenson is the editor of Xconomy Detroit/Ann Arbor. You can reach her at 313-570-9823 or sschmid@xconomy.com. Follow @XconomyDET_AA

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