NEW YORK (AP) — A new report says funding for U.S. startups increased 20 percent in the final three months of 2013 as venture capitalists poured more money into more deals.
Startup investments totaled $8.37 billion in the October-December period, up from $6.95 billion in the fourth quarter of 2012. There were 1,077 deals completed in the quarter, up from 1,050 a year earlier. Software companies received the most money, with biotech a distant second.
Popular online pinboard Pinterest Inc. snagged the most funding in the quarter, getting $225 million from VC firms Andreessen Horowitz, Bessemer Venture Partners and others.
The MoneyTree study released Friday was conducted by PricewaterhouseCoopers and the National Venture Capital Association, based on data from Thomson Reuters.