Xconomy: Venture Goes Mobile as 3rd Quarter Deal Activity Hits 12-Year High
Summary
Venture Goes Mobile as 3rd Quarter Deal Activity Hits 12-Year High Xconomy National — Venture deal activity hit a 12-year high during the third quarter, and big VC investments in Uber, Kymeta, and Flipboard helped push venture funding for U.S. mobile startups over $1 billion for the first time, according to a report today from CB Insights.The Internet sector continued to claim the biggest share of venture dollars (over $2.9 billion) and deal flow (408) during the quarter.“For venture investors, mobile is the next frontier,” CB Insights CEO Anand Sanwal told me by phone yesterday.Apart from the Uber, Kymeta, and Flipboard deals, the biggest slice of venture funding in mobile (6 percent) went to startups focused on business intelligence, analytics, and performance management.The biggest percentage of deals (9 percent) went mobile startups focused on customer relationship management.