In the U.S., venture funding in November was close to $9 billion, representing nearly 50% of total global funding. Health care and financial services companies raised the most funds, with over $3 billion invested in each sector. Artificial intelligence companies raised $2.4 billion, with the largest fundings going to Aleph Alpha and Together AI. M&A activity also increased, with significant deals including Rover's acquisition by Blackstone Group and Palo Alto Networks' planned acquisition of Talon Cyber Security.
Key takeaways:
- Global venture funding reached $19.2 billion in November 2023, a 16% decrease from the $23 billion invested in November 2022.
- Early-stage funding declined the most year over year by 34%, with seed funding slowing by more than 15%, while late-stage funding increased by around 7% compared to November 2022.
- Venture funding to U.S. companies in November reached close to $9 billion, slightly less than 50% of total global funding. Health care and financial services companies raised the largest amounts last month.
- Significant events in November included a guilty verdict for Sam Bankman-Fried, founder of the collapsed cryptocurrency exchange FTX, and a crisis at OpenAI that saw the firing and subsequent rehiring of Sam Altman.