The reverse-logistics operation of Optoro Inc. and the Mediterranean-inspired menu of falafel juggernaut Cava Group Inc. propelled Greater Washington to a strong third quarter for venture funding — and gives it a shot at a record-breaking haul for 2018.
Greater Washington saw $452.67 million in venture funding in the third quarter, according to the new 2018 PitchBook-NVCA Venture Monitor report. The region has seen $1.42 billion in venture funding through the first three quarters, setting the region up for the biggest year recorded by Pitchbook so far (It has been data tracking back to 2002). In comparison, Greater Washington raised $1.54 billion in 2017, the second-biggest year since 2011, when the region saw $1.68 billion in venture funding.
That means another $260 million in the fourth quarter — which would amount to a pretty average haul — would make 2018 the biggest fundraising year on record for the region, according to Pitchbook. The strong funding environment mirrors the…Read the full story from the Washington Business Journal.