Online learning platform 2tor today announced the close of a $26 million Series D funding round led by an affiliate of the Hillman Company. This brings the Chelsea Piers-based company’s total venture funding to $96 million. All previous investors—Bessemer Venture Partners, Highland Capital, Redpoint Ventures, Novak Biddle Venture Partners and City Light Capital—who helped 2tor raise $32.5 million just over a year ago decided to come back. Joining them were new investors SVB Capital and WestRiver Capital.
The National Venture Capital Association and Thomson Reuters issued their third quarter survey today for money raised by venture capital funds and the results seem to show a downward trend, perhaps slouching towards that startup winter we’ve been warned about.
According to the report, 52 U.S. VC funds raised $1.72 billion in Q3–the lowest dollar amount raised since Q3 2003. The report says, “This level marks a 53 percent decrease by dollar commitments and a 4 percent decline by number of funds compared to the third quarter of 2010, which saw 53 funds raise $3.5 billion during the period.”
Just 16 percent of that $1.72 billion was raised for funds based in New York. NVCA sent Betabeat a breakdown that showed $278.64 million raised by seven different local funds, with the largest amount going to RRE. That’s a big drop from the $2.866 billion raised by New York-based funds in Q1, 2011 and notable 40.3 percent drop from the $463.73 million raised by New York funds in Q2.