Philadelphia Alliance for Capital and Technologies (PACT) just released its annual report on venture investment spending in the region, and unsurprisingly, in 2019, Philadelphia continued to be a strong attraction for VC dollars into life sciences and technology companies.

Notably, though, the region was ranked seventh in the country for investment dollars after setting a record of close to $2.5 billion in investments. Compare that to the $1.4 billion in deals that took place in the area in 2018.

On-demand delivery startup goPuff’s $750 million investment that went down in August likely plays a large part in this ranking, PACT President and CEO Dean Miller said. (Note: Technical.ly reported a mere $1.35 billion in 2019 deals at the end of January because we were looking at a PricewaterhouseCoopers/CB Insights MoneyTree report that didn’t account for the previously secret goPuff deal). The PACT report names this deal as the biggest-ever round of fundraising for a startup in Philly.

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