See who scored the biggest funding deals of the year in San Francisco and Silicon Valley, including a gargantuan $3 billion round.
In terms of the number of megafunding rounds scored by Bay Area startups, 2022 started as the best of times but ended as as the worst of times in recent memory.
That drop-off came amid economic uncertainty, high inflation, rising interest rates and a sell-off in stocks — particularly those of tech companies — in the public markets, all of which weighed on venture investments. Despite all the talk about startups abandoning San Francisco, companies based in the City by the Bay accounted for a plurality of all the megadeals with seven. No other city in the region saw more than two such deals.The decline in megarounds is not just a local phenomenon. Nationwide, the number of such deals has fallen every quarter this year, PitchBook Data said in alast week.
However, a collection of factors may help balance that trend and boost the number of $100 million deals, it said.
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