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Biz Talk: Looking ahead to 2023 after a strong year for venture capital

This article was written by Adam Henry, CEcD, EDP, Senior Business Development Manager for Arlington Economic Development.

In 2022, there were several challenges facing tech companies and the venture capital community — inflation, a decrease in tech exits and IPOs, rising interest rates, and over 150,000 layoffs in the tech sector.

While all of these factors affected deal size and valuations for tech companies, Arlington’s tech ecosystem saw some exciting deal flow among its businesses.

Arlington-headquartered companies were involved in 31 deals totaling more than $1.5 billion from venture capital raises, mergers and acquisitions, strategic corporate investments and other activity. Some of the notable venture capital raises in 2022 included:

In addition to the dynamic venture capital activity, Arlington companies were also involved in some notable mergers and acquisitions and IPOs.

Finally, Arlington Economic Development also saw a number of great investments in our community this past year, including:

  • Technomics, an employee-owned decision analysis company that specializes in cost analysis, data management, and data analytics, announced with Governor Youngkin a $1.7 million expansion in Arlington County, creating 150 new jobs.
  • MarginEdge announced its relocation to Arlington County, taking 23,500 square feet in Ballston.
  • Shift5 announced it will double its space in Arlington to 19,840 square feet in Rosslyn citing a 54% growth in employment since the start of 2022 and revenue doubling year-over-year.
  • Federated Wireless announced a private wireless partnership with JBG Smith in conjunction with Federated Wireless’ corporate headquarters relocation to National Landing.

Despite the challenges of the past year, it’s clear that Arlington-based tech companies continue to launch and grow, creating several opportunities for employment growth in Arlington and Northern Virginia.

In 2023, AED is excited to continue the momentum of creating a welcoming environment for the tech community to raise capital, launch and grow businesses.

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