Venture capital funding in Oregon hit a high in the first six months of 2014, raising more investment dollars in the first half of the year than in all of 2013. According to the Oregonian, Dow Jones VentureSource reported that Oregon startups raised $174 million in venture capital investment from January through June this year, while 2013’s yearlong total was $162 million. However, this half-year’s big numbers were buoyed by major investments in just two startups: almost half of this year’s investment total is comprised of Act-On Software’s $42 million round and Puppet Lab’s $40 million investment. Still, it’s an impressive showing of VC interest in the Portland area’s thriving startup scene, and the best may be yet to come.
In fact, just days into July and the Q2 2014 opens with news of fresh investments. PayRange, a Portland startup that makes technologies to enable smartphone purchases from vending machines, revealed a $2.6 million investment round. Earlier this week, Northwest Analytics, which makes manufacturing analytics software, announced $1.4 million in angel funding. The company intends to use the money for marketing and sales support for its product NWA Focus EMI, which provides manufacturers with real-time process management.
Triquint Semiconductor also had good news to report. The chipmaker announced second-quarter revenues of $230.8 million, up 21 percent from the same period last year, with profits totaling $5.2 million. Triquint was in the news last year when it revealed that it would merge with a rival semiconductor manufacturer, RF Micro Devices, based in North Carolina. Triquint chips have been used in recent Apple iPhones; Foxconn, which manufactures Apple products in China, accounts for roughly one-third of Triquint’s sales.
No summer doldrums here in Techlandia!
By Bill McRae of McClenahan Bruer