29 Apr Connecticut IT landscape experiences boost in venture capital
While New York City is trying to stake a claim as the Silicon Valley of the east, with varying levels of success, there are surrounding areas that want a piece of that title. While Boston has long been the title holder, Connecticut is starting to make some waves.
According to a recent article from The New Haven Courant, despite only being a few months into 2014, Connecticut has already experienced more venture capital poured into the IT landscape than it has in years. So far there have been three major investments that tally $189 million.
The piece cites a MoneyTree Report that found the first quarter of 2014 was more than three times as large as any quarter in the previous two years. While the focal point is on the three major deals, there are several other partnerships that total an additional $12 million.
"The large quarter for tech investments does not necessarily mark a trend, as venture capital deals don't follow a clear pattern from quarter to quarter," the article reads. "But the New York metro region, which includes Fairfield and New Haven counties, has had two straight quarters with deal levels not seen since 2001."
The article adds that so far in 2014, $9.5 billion has been invested in tech firms. That is the highest number since early 2001.
The Connecticut technology landscape is of to a stellar 2014. This is the perfect time for local companies that were considering investing in new hardware and software to start doing so by partnering with a local IT solution provide or specialty companies like a Connecticut FileMaker developer.