HOUSTON, April 4, 2019 /PRNewswire/ -- Fundraising for Texas based companies boomed in the first quarter of 2019. A total of 103 companies were successful in raising funding. This is a marked increase of 72% from the first quarter of 2018, in which 60 companies raised funding by this time last year.*
An astounding $7.6 billion was raised in the state of Texas alone in the past three months.** Companies based in the Dallas metro came in first with $4.9 billion raised, followed by Houston with $1.8 billion, Austin with $918 million, and San Antonio with $6.5 million.
The range of industries that received funding was vast and varied from Entertainment/Media to Online Banking Services. The top three industries that attracted capital during the past quarter include Energy, Healthcare, and Software/Internet Services.
In addition, 51 private firms announced mergers and/or acquisitions, and 11 firms announced significant hiring plans.
"The Texas economy and fundraising environment are extremely favorable for companies across industries that are working on new concepts, disruptive technologies, or achieving scale within their space. In particular, the large Texas metros (Houston, Dallas, Austin, San Antonio) continue to outpace the rest of the state in economic activity, experiencing over 3% job growth in Q1 2019," said Vinay Bachireddy, CEO of HRO Resources.
*According to PWC, MoneyTree
**Fundraising totals do not include transactions that occurred with undisclosed amounts.
About HRO Resources
HRO Resources is well positioned to help entrepreneurs grow their businesses. HRO offers a one-stop solution for key administrative functions, including payroll services, outsourced HR services, employee benefit and commercial insurance and risk solutions.
"More board members, and investors, have a strong interest in compliance and risk management services as their organization grows. HRO's deep bench of services offer emerging companies the tools to help them move through various stages of development," said Julie Davis, Director HRO Commercial.
If you're currently raising capital and would like to know more about how our resources can support your growth, please contact us:
HRO Resources – 17347 Village Green Dr. Suite 111 Houston, TX 77040
Contact Sara Gomez: Marketing Coordinator at 832.486.9436
SOURCE HRO Resources