Ernst & Young and Innovation Works released their ninth annual review of Pittsburgh’s technology investment landscape. This report provides a comprehensive review of investment and exit activity in the Pittsburgh region from 2011 to 2020.
We will welcome Rich Lunak, President and CEO of Innovation Works, and Leon Hoffman, Pittsburgh Office Managing Partner at Ernst & Young, to provide us with key highlights and takeaways from the report.
As a sneak peek: 2020 saw dramatic swings in regional investment trends as the COVID-19 pandemic led startups to raise funds to bolster their balance sheets and extend their runway.
In total, 171 companies raised $993 million, a decrease from the almost $3 billion raised in 2019, but reflecting the second-best investment year in the past decade. In the past 10 years, nearly 600 unique Pittsburgh companies attracted a total of over $7.2b in investment.
