When the dust settled on the Bay Area in a pandemic-inflected 2020, it turned out to be one of the best years for the amount of dollars raised since the Great Recession of 12 years ago.
About $61.3 billion was raked in by VC-backed businesses in the region, according to PitchBook Data, trailing only 2018 when $66.8 billion in funding happened. The number of Bay Area deals, however, continued its recent drop to 2,484 — the lowest number since 2016.