Midwest Funding Report: Vertex of Des Moines, IA Closes $38.5M

The Funding Roundup is a weekly note about companies that raised venture capital.  We use four sources – 1) those that are sent to us via press release ([email protected]), 2) Form D filings in the sixteen states that we cover, 3) Databases to which we subscribe (particularly Pitchbook, Crunchbase), 4) Other sources (such as SBIR grant database).  The goal of the funding roundup is to provide a quick synthesis of companies that are actively raising money.  This is not a value judgment placing VC backed companies over bootstrapped – only a recognition that VC backed companies often file paperwork that puts them on our radar. 

The week before a holiday weekend is usually pretty slow.  However, last week had more than thirty early-stage fundraising events in the Middle.  Vertex, a 3D visualization company that has relatively limited code, was the largest deal in the region.  The company is based in Des Moines and continues to raise money after strong showings in 2019 and 2020.  Ohio and Minnesota had strong weeks as well – including multiple healthcare companies that raised money.  Healthcare technologies continue to evolve in the region – including multiple biotechnology companies and healthcare software.