In Boston startups managed to haul in over $1.two billion in venture financing in 142 offers for the last quarter, marking the strongest fundraising environment for Boston tech start ups since back in 2009. Taking the pole position in Boston’s tech resurgence is the online home furnishing retailer Wayfair, which raised $157 million ahead of a planned original public offering later this year. The company is a bit of an outlier in Boston’s technology scene, where biotech, clean technology, & life sciences startups have hoovered up most of the massive financing rounds in recent years.
Still the company’s success plus the recent public providing for Care.com hold out the promise of a brand new wave of consumer-facing tech innovation coming out of Beantown. And while the Care public offering caused consternation in a number of corners over Boston’s tech scene and the coverage it receives, the start ups in the city are flourishing in various sectors. One need only look at Boston’s start up map on Techscene to see how robust the tech ecosystem in Boston remains. And, as with San Francisco, start up businesses are moving back from the exurbs to take up space in the greater metropolitan area .
Beyond Wayfair’s substantial round, start ups like the data storage company Actifio managed to join the billionaire club for start ups; while application checking company, uTest , and the security company Bit9 also raised large new rounds of funding. In truth, fewer than half of the companies among the top ten start ups by capital commitment in the very first quarter were from the life sciences sector, which points to the potential for diversity among the city’s tech scene.