Last year was a bonanza for U.S. startups. They collected more than $67 billion in venture-capital funding, a new record that beat the previous high in 2015 by more than 5 percent.
Silicon Valley continues to dominate the VC landscape. But its grip is slipping. Companies in the San Francisco-Oakland-Fremont metropolitan area collected $19.7 billion last year, 12 percent less than in 2015. Part of that is because Lyft Inc. and Uber Technologies, Inc., which raised the most capital in the Bay Area last year, fell short of previous landmark deals, including Uber’s $3.5 billion or Snap Inc.’s $1.8 billion, both raised in 2016. Another reason: many of the biggest deals in 2017 were based somewhere else.
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