While 2020 was a challenging year for many businesses, it appears investors weren’t too scared off by uncertainty to funnel money into local startups.

In 2020, the Philadelphia region saw $1.47 billion in venture capital deals, according to a recent PricewaterhouseCoopers (PwC)/CB Insights MoneyTree report. That includes deals made in the city, as well as surrounding counties in Pennsylvania, Delaware, New Jersey and Maryland.

The region’s $1.47 billion went into 73 deals, following a continuing national and local trend of seeing fewer deals made, but higher price tags on those deals, Brad Phillips, a director in PwC’s emerging companies practice, told Technical.ly. The report shows that besides 2019 — which was an outstanding year for fundraising at more than $2 billion in deals — 2020 was the best year for deals since the 2000 dot-com-era boom, the report shows.

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