Wednesday , 20 September 2017
Home >> F >> Fundings and Exits >> These South Bay and Peninsula cities are raking in try capital

These South Bay and Peninsula cities are raking in try capital

Though a segment famous as Silicon Valley covers dozens of municipalities, a few cities get outsized courtesy in tech circles. Everyone knows Palo Alto, Mountain View, San Jose and San Francisco as hotbeds for startup innovation.

But they’re not a usually ones.

Less-talked-about cities in a segment are also raking in funding, violence out vital cities in other states for sum try investment.

A few days ago, we looked at cities in a East Bay of a San Francisco Bay area with a high thoroughness of saved startups. Today, we spin a courtesy to a Peninsula and South Bay regions, looking for who’s attracting well-funded startups. Here are some of a cities that surfaced a list.

South San Francisco

This city of 60,000 is obvious as a final place we expostulate by when going from San Francisco to a airport. Coming back, it’s also tough to skip a famous South San Francisco bank sign that reads “South San Francisco, The Industrial City.” The sign is outdated, though, as South San Francisco, a city founded by a meatpacking attention in a 1880s, has given remade into a biotech powerhouse.

The mutation began in 1976, when Genentech opened there, and it has been on a hurl ever since. More than 40 South San Francisco biotech and medical companies have lifted appropriation in a past 5 years, and during slightest 12 brought in $40 million or some-more in their final rounds.

The biggest appropriation recipient, cancer therapy developer Stemcentrx, also delivered one of a largest biotech exits ever final year when pharma giant AbbVie concluded to buy it for $5.8 billion adult front and adult to $4 billion in miracle payments. Other heavily saved biotechs include NGM Biopharmaceuticals, a developer of drugs to provide cardio-metabolic and liver diseases, and Freenome, a developer of non-invasive cancer-screening tools.

In total, South San Francisco companies have lifted some-more than $1.1 billion in try appropriation over a past 3 years. That’s some-more than a whole state of Connecticut and about 8 times as many as Rhode Island.

Sunnyvale

While Sunnyvale is famous as a home of Yahoo, a genuine estate marketplace is infrequently noticed as some-more contingent on circuitously Apple than a former internet darling. “Million-dollar homes with fewer bedrooms than your initial apartment” could be a sign of this still ‘burb.

But aside from high housing costs, Sunnyvale boasts a worldly startup ecosystem that pulled in some-more than $1.4 billion over a past 3 years. That means this city of 140,000 has lifted some-more than a whole state of Arizona and some-more than double a VC appropriation for a state of Oregon over a same period.

Sunnyvale’s startup stage isn’t dominated by any one sector. There are heavily saved companies in security, hardware, biotech and even unconstrained vehicles. Illumio, a cybersecurity provider, lifted a many collateral of any internal startup over a past 3 years, followed by Quanergy, a developer of LiDAR sensors and program for 3D mapping.

The city has copiousness of startups that have grown into multi-billion-dollar companies, too. A few of those sole to acquirers in new years, including confidence provider Blue Coat Systems, that Symantec bought final year for $4.65 billion, and network infrastructure provider Aruba Networks, which sold to HP two years ago for $3 billion.

And, of course, there’s Yahoo.

Milpitas

Milpitas fought a conflict for autonomy 56 years ago, and it won. It faced cast by a land-hungry neighbor, a city of San Jose, and a organisation famous as a “Milpitas Minutemen” came together to quarrel for a town’s independence.

Since then, Milpitas has developed in a sprawling, tech-infused city dotted with bureau parks and newish housing developments. It’s expected interjection to a Minutemen that Milpitas, and not San Jose, can now explain itself domicile of SanDisk and LSI Logic, dual companies swallowed adult in some of a biggest semiconductor acquisitions of new years. Thanks to them, Milpitas can also call itself home to startups that have lifted some-more than $650 million over a past 3 years.

A city of scarcely 80,000, Milpitas drew some-more VC appropriation over that duration than Indianapolis (population 850,000). A singular company, View, is obliged for over half of a sum appropriation haul, carrying lifted $400 million in a past dual years to commercialize a line of energetic potion that automatically changes tint. Next biggest is Beamreach (formerly Solexel), a developer of solar panels that lifted some-more than $200 million in try appropriation before filing for failure progressing this year.

The rest of Milpitas’ venture-funded companies paint a far-reaching accumulation of sectors, including biotech, VR and craving software. The brew is rather suggestive of a incomparable neighbor, San Jose. But make no mistake; this isn’t San Jose.

Santa Clara

Santa Clara, home of Intel, Applied Materials, a new San Francisco 49ers track and a lot of costly houses, is a vital heart for venture-backed startups. Companies in this city of 120,000 have lifted some-more than $1.4 billion over a past 3 years.

The executive post of a startup ecosystem here is craving technology. Think security, cloud storage, software-defined networking and deeply geeky, difficult technologies that advantage from a talent pool filled by Cisco, Intel and others. The biggest recipients of appropriation in a final integrate of years include CloudMinds, a developer of distributed computing record for AI-enabled robots, and Cohesity, developer of a hyper-converged height for storing backup data.

Despite a heft as a record powerhouse, however, Santa Clara doesn’t get a lot of specific approval as a tech hub. It’s generally lumped in a larger stretch famous as Silicon Valley. A contributing cause might be that a other cities it borders, that embody Sunnyvale, Milpitas and San Jose, are no slouches in tech, either.

Where have all a orchards gone

The record bravery of all these Peninsula and South Bay cities is all a some-more considerable when one considers what a brief time they’ve had to grow. Prior to World War II, a area was best famous as a core for fruit harvesting and canning. Today, a many profitable association here might bear a name of a fruit, though it focuses on (much) aloft domain products.

Illustration: Li-Anne Dias

close
==[ Click Here 1X ] [ Close ]==