US venture capital-backed companies raised $23bn in Q4'19, down 16% compared to Q3. YoY funding fell 9% to $108bn making 2019 the third biggest year ever (with 2018 in the first place; 2000 in second).

Mega-rounds ($100m+) played a role in this as they fell for the second-straight quarter. 38 companies raised rounds worth $100m or more in Q4'19. This is a sharp d