Cbinsights-人工智能2022年第三季度报告（英）-2022.11-137正式版

StateofAIGlobal|Q32022Globaldataandanalysisondealmaking,funding,andexitsbyprivatemarketaicompaniesStateofAIGuessLess.WinMore.▮▮▮▮SignupforafreetrialIII

CBInsightshelpstheworld’sleadingcompaniesmakesmartertechnologydecisionswithdata,notopinion.OurTechnologyInsightsPlatformprovidescompanieswithcomprehensivedata,expertinsights,andworkmanagementtoolsthatenablethemtodiscover,understand,andmaketechnologydecisions.2StateofAIPlatformAnalystInsightsDivedeeperwithproprietaryinformationstraightfromtechcompaniesthemselves.Learnaboutwhatacompanydoes,whotheyserve,andhowtheydifferentiatefromthecompetition.StateofAIMakeyourbrandmoresearchable.Findable.Buyable.Partnerable.Investable.

BusinessIntelligence&AnalyticsCompleteafreeAnalystBriefingSurvey*andgetinfrontofenterprisetechbuyers,M&Ateams,andinvestors.*Surveytakershaveincreasedtheirleadgeneration3xonaverage.▮▮▮▮▮SignupApplyforaherefretrialIII4StateofAICBInsightsallowedustobuildaclearviewofthecomprehensiveAIlandscapeanddrawouttrendsthroughacompanybycompanyanalysis.DavidTitusFormerPrincipalandTeamLead,IBM

Viewsuccessstory→5StateofAIDigDeeper.CBInsightsclientscanfindandtrackcompaniesusingouranalyst-curatedExpertCollections.ArtificialIntelligence6StateofAIOurMostPopularResearchonAI

54companiesusingAItoautomatecustomerserviceinteractionsThe3retailbanksleadinginAI—andhowthey'redeployingthetechAnalyzingApple'sgrowthstrategy:Thebusinessmoveshintingatthesecretive$2T+giant'sstrategicfuture

HowisMayoClinicusingAItoimprovepatientcare?95+early-stagecompaniesusingAItocreateandeditdigitalcontentIntelligentprocessautomation:vendorsbringingAI-poweredRPAtoenterprises7StateofAITLDRYourrundownonAIinQ3'22$8.3BTotalAIfunding.GlobalfundingtoAIstartupsreached$8.3BinQ3’22—thelowestquarterlyamountraisedsinceQ3’20.Thismarkeda31%dropfromQ2’22(thelargestinover4years),nearlymatchingthe34%dropacrossallofventure.Fromanindustryperspective,healthcareAIfundingdecreased20%fromQ2’22,fintechAIfundingdropped34%,andretailtechAIfundingfell48%.Seethedata→

-39%Decreaseinmega-roundfunding.AImega-rounds($100M+)accountedfor$3.3BinQ3'22,down39%quarter-over-quarter(QoQ).Thenumberofmega-rounddealsdroppedby41%overthesameperiod.AImega-roundsalsomadeup40%ofQ3’22’stotalfunding—itslowestsharein9quarters.InQ3’22,thelargestAIequitydealwasa$500MroundtoChina-basedBlackSesameTechnologies.Seethedata→

-52%DecreaseinAIexits.AIexitsdropped52%QoQinQ3’22.Oftheexits,45(87%)wereM&Adeals—thefewestin6quarters.TheUScaptured38%ofAIexits,followedbyAsiawith29%andEuropewith27%.Despitethis,themostprominentexitsoccurredoutsideoftheUS:HyundaiacquiredamajoritystakeinSouthKorea-based42dotandBrazil-basedSemantixwentpublicviaSPAC.Seethedata→

9AIstartupsbackedbyInsightPartners.InsightPartnersheldthetopAIinvestorspotforthethirdquarterinarow.IntelCapitalalsoledthepackforthefirsttimethisquarter,tyingwithInsightPartnersat9AIinvestments.NorwestVenturePartnerswasthenextmostactiveAIinvestor,backing6AIstartups.SeveralVCsmade5AIbets,includingKhoslaVentures,TigerGlobalManagement,SOSV,andGaingels.Seethedata→

-59%DropinSiliconValleyAIfunding.AIfundingtoSiliconValley-basedcompaniesdroppedfrom$4.4BinQ2’22to$1.8BinQ3’22.Notably,dealsonlyfellby18%overthesameperiod.Thedeclineinfundingwasmostlyduetoamajordrop-offinSiliconValley-basedmega-rounds.InQ2’22,SiliconValleysecured11mega-roundsworthover$2.4Bintotal.InQ3’22,thisnumberdroppedto4mega-roundstotaling$540M.Seethedata→8StateofAIContentsGlobalTrendsInvestmentTrendsUnicornsExitTrendsInvestorsCollectionSpotlightsHealthcareAIFintechAIRetailTechAIGeographicTrendsUSSiliconValleyNewYorkBostonSeattle

10Asia10111China10734India111Israel11540Japan11946Europe12350UnitedKingdom129Germany1335160697879858993979GlobalTrends10InvestmentTrends11StateofAI|GlobalTrends|InvestmentTrendsAIfundingreaches$35.5Binthefirstthreequartersof2022800003,500700003,000600002,500500002,000400001,500300001,000200005001000000

ProjectedDeals3,1072,9732,7972,604Deals2,4512,230ProjectedFunding$47.3BFunding$35.5B$27.1B$30.7B$32.4B$68.8B20182019202020212022YTD12StateofAI|GlobalTrends|InvestmentTrendsDealsandfundingdropto8-quarterlows$20.0B$18.0B914$16.0B$14.0B754791807751Deals693681711720682$12.0B667669670672619632606591559Funding$10.0B$8.0B$8.3B$6.0B$4.0B$2.0B$0.0B$4.1B$7.0B$6.6B$9.4B$6.8B$8.3B$8.7B$7.0B$6.5B$7.2B$7.8B$10.9B$16.0B$16.7B$18.0B$18.0B$15.1B$12.1BQ1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q320182019202020212022

1,2001,000800600400200013StateofAI|GlobalTrends|InvestmentTrendsTheUSraises$4.4B,accountingforoverhalfofglobalfundinginQ3’22Canada$35M11Deals AsiaUS$4.4B258Deals

Europe$1.4B131DealsAfrica$13M4DealsLatAm&Caribbean$42M10Deals

$2.3B249DealsAustralia$48MDeals14StateofAI|GlobalTrends|InvestmentTrendsTheUScontinuestoleadAIdealshare,Asiaisaclosesecond6%5%5%7%6%5%6%5%6%8%6%5%6%7%22%17%20%19%19%20%18%21%20%20%19%20%17%18%16%19%19%22%28%34%35%33%31%36%35%33%35%37%38%34%39%41%38%34%39%33%44%43%37%41%41%42%41%40%41%39%42%39%39%41%38%37%36%36%

AllOtherRegions,5%Europe,19%Asia,37%US,38%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q32018201920202021202215StateofAI|GlobalTrends|InvestmentTrendsVCdealsharedipsbutstillleadsthepackinQ3’2211%9%11%7%12%7%6%6%6%6%12%6%12%10%12%11%12%9%9%10%10%9%7%9%10%8%8%8%9%16%

7%12% 12%7%5% 5%11%12% 11%8% 10% 9%11% 9% 9%

7%6%7%7%7%6%6%8%6%5%7%6%7%5%6%7%6%8%10%10%10%8%10%11%11%11%10%10%10%10%11%9%8%10%11%8%9%10%11%10%11%9%11%11%9%11%10%

6%6%8%10%12%9%

PrivateEquity,6%Incubator/Accelerator,7%Asset/InvestmentManagement,8%CVC,10%Angel,10%Corp,12%14%17%17%14%16%15% 17% 14% 16% 17% 14% 17% 14% 14% 15% 14%

17%

Other,18%37%38%36%36%37%35%35%35%34%34%34%34%33%32%32%32%31%31%

VC,29%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q32018201920202021202216StateofAI|GlobalTrends|InvestmentTrendsAveragedealsizedropsto$21Min2022YTDAverageDealSizeMedianDealSize$31M$21M$16M$6M$5M$3M201820202022201820202022YTDYTD17StateofAI|GlobalTrends|InvestmentTrendsTheUSandAsiaseemediandealsizedecreasein2022YTDUSAsiaEurope$9M$8M$8M$6M$4M$4M$3M$3M$2M201820202022201820202022201820202022YTDYTDYTD18StateofAI|GlobalTrends|InvestmentTrendsAngelmediandealsizeflattens,allotherinvestorcategoriesseeadeclineAngelAsset/InvestmentCVCCorpManagement$61M$26M$19M$20M$18M$17M$14M$14M$10M$2M$5M$5M201820202022201820202022201820202022201820202022YTDYTDYTDYTD

PrivateEquityVC$50M$28M$16M$16M$13M$8M201820202022201820202022YTDYTD19StateofAI|GlobalTrends|InvestmentTrendsMega-roundfundinganddealsdropto9-quarterlows$12.0B70$10.0B6049504646$8.0B444240$6.0B32222227Funding30$4.0B18$3.3B16162015111214Deals$2.0B819106$0.0B$0.8B$3.5B$3.1B$5.7B$3.1B$3.6B$4.5B$2.2B$2.7B$2.4B$4.1B$5.6B$11.1B$10.0B$9.9B$10.5B$7.8B$5.4B0Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q32018201920202021202220StateofAI|GlobalTrends|InvestmentTrendsTheUSleadsinmega-roundfundinganddealsinQ3'22EuropeUS$0.8BAsia4Deals$1.8B$0.8B3Deals12Deals21StateofAI|GlobalTrends|InvestmentTrendsMega-rounddealsdropQoQintheUSandAsia231344Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q32018201920202021

30271911US,129945Europe,4211Asia,32AllOtherRegions,0Q4Q1Q2Q3202222StateofAI|GlobalTrends|InvestmentTrends$100M+mega-roundsaccountfor40%ofglobalfundinginQ3’2239%30%47%40%45%42%50%53%54%49%49%48%57%58%56%67%69%81%61%70%53%60%55%58%50%47%51%51%52%46%43%42%44%31%33%19%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q320182019202020212022

Non-mega-rounds,60%Mega-rounds,40%23StateofAI|GlobalTrends|InvestmentTrendsGlobal:TopequitydealsinQ3'22CompanyRoundAmountRoundRoundValuationSelectInvestorsCountry%ofTotalDateFunding1BlackSesameTechnologies$500MSeriesCN/ASummitViewCapital,GFXindeInvestmentManagementCo.,IndustrialBankChina6.0%2022-08-082BendingSpoons$340MSeriesAN/ABancoBPM,CreatorPartners,IntesaSanpaolo,MaximumEffort,EricSchmidtItaly4.1%2022-09-273Triller$310MSeriesDN/AGlobalEmergingMarketsUnitedStates3.7%2022-09-29ArsenalBio$220MSeriesBKleinerPerkinsCaufield&Byers,Bristol-MyersSquibb,EuclideanCapital,4N/AParkerInstituteforCancerImmunotherapy,UCSFFoundationInvestmentUnitedStates2.7%2022-09-06Company5Triller$200MConvertibleNoteN/AClearVuePartners,FalconCapital,FubonVentureCapitalUnitedStates2.4%2022-08-296Cleerly$192MSeriesC$572MFidelityInvestments,T.RowePrice,CignaVentures,DigiTxPartners,UnitedStates2.3%2022-07-25LRVHealth7Cera$160MSeriesCN/AKairosHQ,EvolveHealthcarePartners,GuinnessAssetManagement,YabeoUnitedKingdom1.9%2022-08-03Capital8Muxi$150MSeriesAN/AChaosInvestment,ChinaCentralTelevision,ChinaInternetInvestmentFund,China1.8%2022-07-05GuochuangZhongding,MatrixPartnersChina9Velas$135MUndisclosedN/AGEMDigitalSwitzerland1.6%2022-09-2810SendaBiosciences$123MSeriesCN/AAlexandriaVentureInvestments,FlagshipPioneering,LongevityVisionFund,UnitedStates1.5%2022-08-16PartnersInvestment,StateofMichiganRetirementSystem24StateofAI|GlobalTrends|InvestmentTrendsEarly-stageroundscontinuetodominatetheoveralldealshare6%7%6%7%6%8%10%13%15%19%21%76%73%67%64%20182019202020212022YTD

Other,8%Late-stage,9%Mid-stage,18%Early-stage,65%25StateofAI|GlobalTrends|InvestmentTrendsAsialeadsinearly-,mid-,andlate-stagedealshareinQ3’22USAsiaEuropeAllOtherRegionsEarly-stage33%37%23%Mid-stage39%46%12%Late-stage31%51%15%Other74%13%13%26StateofAI|GlobalTrends|InvestmentTrendsLate-stagemediandealsizemorethanhalvesin2022YTDEarly-stageMid-stageLate-stage$95M$45M$35M$30M$31M$22M$2M$3M$3M201820202022201820202022201820202022YTDYTDYTD27StateofAI|GlobalTrends|InvestmentTrendsGlobal:Topseed/angeldealsinQ3'22CompanyRoundAmountRoundSelectInvestorsCountryDate1Voyantis$19MSeedVCCharlesandLynnSchustermanFamilyFoundation,JibeVentures,KaedanIsrael2022-07-05CapitalGroup,OperatorPartners,SquarePegCapital2ElevenTherapeutics$18MSeedVCEntreeCapital,KindredCapital,NFX,Bill&MelindaGatesFoundation,HarelIsrael2022-08-02InsuranceInvestments&FinancialServices3CAF$15MAngelAndreEdelbrock,AndrewProzes,DarrylGreen,TrevorClarke,JamesPeckBrazil2022-07-263FosunAItrox$15MSeedFosunPharmaceutical,SinopharmCICC,AntingShiyeChina2022-08-023YijiaBianli$15MSeedN/AChina2022-07-286ANESIDORABOX$14MSeedVCInsightPartnersChina2022-08-116SpiceAI$14MSeedVCMadronaVentureGroup,AlumniVentures,Asymmetric,BasisSetVentures,UnitedStates2022-09-07BlackbirdVentures8Luminovo$11MSeedVCChalfenVentures,CherryVentures,LaFamiglia,KhadjaviCapitalPartners,Germany2022-08-18TencentHoldings8MelioraTherapeutics$11MSeedVCHOFCapital,ZhenFund,Axial,BrightEdge,ObviousVenturesUnitedStates2022-09-298SpaceData$11MSeedVCGREEVentures,Headline,KDDIOpenInnovationFund,MZWeb3Fund,Japan2022-08-03SPARXInnovationfortheFuture28StateofAI|GlobalTrends|InvestmentTrendsGlobal:TopSeriesAdealsinQ3'22CompanyRoundAmountRoundSelectInvestorsCountryDate1BendingSpoons$340MSeriesABancoBPM,CreatorPartners,IntesaSanpaolo,MaximumEffort,EricItaly2022-09-27Schmidt2Muxi$150MSeriesAChaosInvestment,ChinaCentralTelevision,ChinaInternetInvestmentChina2022-07-05Fund,GuochuangZhongding,MatrixPartnersChina3InworldAI$50MSeriesAIntelCapital,Section32,KleinerPerkinsCaufield&Byers,BITKRAFTUnitedStates2022-07-20EsportsVentures,CRV3AprioriBio$50MSeriesAFlagshipPioneeringUnitedStates2022-07-115graas$40MSeriesAKejoraVentures,AJCapital,IntegraPartners,YujVentures,PerformaSingapore2022-08-176AssemblyAI$30MSeriesAInsightPartners,Accel,YCombinatorUnitedStates2022-07-146Hebbia$30MSeriesAIndexVentures,RadicalVentures,JerryYang,RaquelUrtasunUnitedStates2022-07-016EdgeGaming$30MSeriesACornerVentures,AnDVentures,Playtika,StardomVenturesIsrael2022-07-1164MAnalytics$30MSeriesAITIVentureCapitalPartners,InsightPartners,F2Capital,ViolaVentures,UnitedStates2022-09-20NirErez6Modulate$30MSeriesALakestar,EverblueManagement,HyperplaneVentureCapitalUnitedStates2022-08-166accessiBe$30MSeriesAK1CapitalManagement,GlilotCapitalPartners,ThePhoenixIsrael2022-08-2129StateofAI|GlobalTrends|InvestmentTrendsGlobal:TopSeriesBdealsinQ3'22CompanyRoundAmountRoundSelectInvestorsCountryDateArsenalBio$220MSeriesBKleinerPerkinsCaufield&Byers,Bristol-MyersSquibb,EuclideanCapital,1ParkerInstituteforCancerImmunotherapy,UCSFFoundationInvestmentUnitedStates2022-09-06Company2MerlinLabs$120MSeriesBBaillieGifford&Co.,SnowPointVentures,FirstRoundCapital,GoogleUnitedStates2022-07-13Ventures,JSCapitalManagement3Afresh$115MSeriesBSparkCapital,InsightPartners,BaselineVentures,FoodRetailVentures,UnitedStates2022-08-04ImpactEngine4TierIV$88MSeriesBSompoHoldings,YamahaMotorCompany,BridgestoneJapan2022-07-195BigHatBiosciences$75MSeriesBSection32,AndreessenHorowitz,8VC,AMECloudVentures,GaingelsUnitedStates2022-07-20DMAI$74MSeriesBGIIHG,GuangzhouCityConstructionInvestment,GuangzhouSmalland6MediumEnterpriseDevelopmentFund,NanshaFinancialHolding,GuangzhouChina2022-07-04FinanceHoldings7AI21Labs$64MSeriesBAhrenInnovationCapital,PitangoVentureCapital,TPYCapital,WaldenIsrael2022-07-12CatalystVentures,AmnonShashua8ZILLIZ$60MSeriesBProsperity7Ventures,5YCapital,HillhouseCapitalManagement,PavilionUnitedStates2022-08-24Capital,YunqiPartners9DiagnosticRobotics$45MSeriesBStageOneVentures,ClalInsurance,MayoClinicVentures,BankHapoalim,Israel2022-07-25MigdalInsurance10Arthur.ai$42MSeriesBAcrewCapital,Greycroft,AshleyMayer,TheresiaGouwUnitedStates2022-09-2730StateofAI|GlobalTrends|InvestmentTrendsGlobal:TopSeriesCdealsinQ3'22CompanyRoundAmountRoundSelectInvestorsCountryDate1BlackSesameTechnologies$500MSeriesCSummitViewCapital,GFXindeInvestmentManagementCo.,China2022-08-08IndustrialBank2Cleerly$192MSeriesCFidelityInvestments,T.RowePrice,CignaVentures,DigiTxUnitedStates2022-07-25Partners,LRVHealth3Cera$160MSeriesCKairosHQ,EvolveHealthcarePartners,GuinnessAssetUnitedKingdom2022-08-03Management,YabeoCapitalSendaBiosciences$123MSeriesCAlexandriaVentureInvestments,FlagshipPioneering,4LongevityVisionFund,PartnersInvestment,StateofUnitedStates2022-08-16MichiganRetirementSystem5YuLife$120MSeriesCDai-ichiLifeInsurance,Anthemis,Creandum,Eurazeo,UnitedKingdom2022-07-07LatitudeMayMobility$111MSeriesCMiraiCreationFund,CyrusCapitalPartners,LGTechnology6Ventures,MavenVentures,MillenniumTechnologyValueUnitedStates2022-07-12Partners7Swiftly$100MSeriesCBRVCapitalManagementUnitedStates2022-09-197Tecton$100MSeriesCKleinerPerkinsCaufield&Byers,AndreessenHorowitz,BainUnitedStates2022-07-12CapitalVentures,SequoiaCapital,Databricks9Anyscale$99MSeriesCAddition,IntelCapital,FoundationCapitalUnitedStates2022-08-2310Fortanix$90MSeriesCGoldmanSachsGrowthEquity,FoundationCapital,IntelUnitedStates2022-08-11Capital,NeotribeVentures,GiantleapCapital31StateofAI|GlobalTrends|InvestmentTrendsGlobal:TopSeriesDdealsinQ3'22CompanyRoundAmountRoundRoundValuationSelectInvestorsCountryDate1Triller$310MSeriesDN/AGlobalEmergingMarketsUnitedStates2022-09-292CleverTap$105MSeriesD$775MCaissededepotetplacementduQuebec,RecruitHoldings,UnitedStates2022-08-09SequoiaCapitalIndia,TigerGlobalManagement,IIFLAMC3AISERA$90MSeriesDN/AGSGrowth,ThomaBravo,NorwestVenturePartners,FirstUnitedStates2022-08-03RoundCapital,KhoslaVentures4UnravelData$50MSeriesDN/AThirdPointVentures,GGVCapital,HarmonyPartners,MenloUnitedStates2022-09-27Ventures,Point72AssetManagement5Taranis$40MSeriesDN/AINVENCapital,CavalloVentures,EyalGura,FinistereVentures,Israel2022-09-07HitachiVentures6InsilicoMedicine$35MSeriesDN/AProsperity7Ventures,BCapitalGroup,BOLDCapitalPartners,HongKong2022-08-10BohaiHuamei,DeerfieldManagement7FourKites$30MSeriesD$1.0BN/AUnitedStates2022-08-25AnyMindGroup$29MSeriesDJICVentureGrowthInvestments,JapanPostInvestment,8N/AMitsubishiUFJCapital,NomuraSparxInvestment,PROTOJapan2022-07-19Ventures9Planck$23MSeriesDN/AVintageInvestmentPartners,3L,ArborVentures,EightRoadsUnitedStates2022-09-14Ventures,GreenfieldPartners10Biofourmis$20MSeriesDN/AIntelCapitalUnitedStates2022-08-1032StateofAI|GlobalTrends|InvestmentTrendsGlobal:TopSeriesE+dealsinQ3'22CompanyRoundAmountRoundRoundValuationSelectInvestorsCountryDate1Geek+$100MSeriesE$2.0BIntelCapital,VertexGrowth,QingyueCapitalChina2022-08-082DeepInstinct$62MSeriesEN/ABlackRock,JupiterAssetManagementUnitedStates2022-09-193FullStory$25MSeriesEN/AAccel,GoogleVentures,Permira,StripesGroup,VoyagerCapitalUnitedStates2022-08-0933Unicorns34StateofAI|GlobalTrends|UnicornsUnicornbirthsplummettoa5-yearlowwithjust1newunicorninQ3’22154147134124

TotalUnicornsewUnicorns,1Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q32018201920202021202235StateofAI|GlobalTrends|UnicornsTheUSmaintainsitsleadinglobalAIunicornsUS1021New

Canada30NewAsiaEurope380New90NewLatAm&Caribbean30New36StateofAI|GlobalTrends|UnicornsTheUShastheonlyunicornbirthinQ3’221110 10843221111Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q220182019202020212022

US,1Europe,0Asia,0AllOtherRegions,0Q337StateofAI|GlobalTrends|UnicornsGlobal:UnicornbirthinQ3'22CompanyLatestValuationCountry1SingleStore$1.0BUnitedStates38StateofAI|GlobalTrends|UnicornsGlobal:TopunicornsbyvaluationinQ3'22CompanyLatestValuationCountry1ByteDance$140.0BChina2Databricks$38.0BUnitedStates3Grammarly$13.0BUnitedStates4Faire$12.6BUnitedStates5Tanium$9.0BUnitedStates6Nuro$8.6BUnitedStates6Snyk$8.6BUnitedKingdom8Pony.ai$8.5BUnitedStates9Lacework$8.3BUnitedStates10Tempus$8.1BUnitedStates39ExitTrends40StateofAI|GlobalTrends|ExitTrendsAIM&Aexitsdrop54%QoQ10298594791186334

M&A,45IPO,4SPAC,3Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q32018201920202021202241StateofAI|GlobalTrends|ExitTrendsTheUSseesthelargestshareofglobalexitsat38%14%5%7%9%6%10%6%11%13%10%10%10%11%9%9%7%20%15%22%22%18%13%25%18%12%29%28%22%23%30%26%32%33%14%9%20%40%20%15%16%30%13%25%18%12%20%14%19%19%60%64%55%56%51%56%48%51%17%58%50%58%62%48%47%45%40%41%31%

AllOtherRegions,6%Europe,27%Asia,29%US,38%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q32018201920202021202242StateofAI|GlobalTrends|ExitTrendsGlobal:TopM&AexitsinQ3'22CompanyRoundValuationAcquirerCountry142dot$438MHyundaiMotorCompanySouthKorea2Supertone$32MHYBESouthKorea3Zendoc$3MSirionLabsUnitedStates43StateofAI|GlobalTrends|ExitTrendsGlobal:TopIPOsinQ3'22CompanyCountryKonanTechnologySouthKoreaLunit

SouthKoreaTechFishChinaWearableDevices

Israel44StateofAI|GlobalTrends|ExitTrendsGlobal:TopSPACsinQ3'22CompanyRoundValuationSelectInvestorsCountry1Semantix$1.0BAlphaCapitalAcquisitionCompanyBrazil2GorillaTechnologyN/AGlobalSPACPartnersTaiwan2InspireSemiN/AGreenfieldAcquisitionCorp.UnitedStates45Investors46StateofAI|GlobalTrends|InvestorsGlobal:TopinvestorsbycompanycountinQ3'22InvestorCompanyCountInvestorGroupCountry1InsightPartners9VCUnitedStates1IntelCapital9CVCUnitedStates3NorwestVenturePartners6VCUnitedStates4DEEPCORE5VCJapan4FoundationCapital5VCUnitedStates4Gaingels5AngelUnitedStates4KhoslaVentures5VCUnitedStates4PlugandPlayVentures5VCUnitedStates4SOSV5VCUnitedStates4TigerGlobalManagement5Asset/InvestmentManagementUnitedStates47StateofAI|GlobalTrends|InvestorsGlobal:TopVCsbycompanycountinQ3'22InvestorCompanyCountCountry1InsightPartners9UnitedStates2NorwestVenturePartners6UnitedStates3DEEPCORE5Japan3FoundationCapital5UnitedStates3KhoslaVentures5UnitedStates3PlugandPlayVentures5UnitedStates3SOSV5UnitedStates8MMCVentures4UnitedKingdom8ViolaVentures4Israel48StateofAI|GlobalTrends|InvestorsGlobal:TopCVCsbycompanycountinQ3'22InvestorCompanyCountCountry1IntelCapital9UnitedStates2DaiwaCorporateInvestment3Japan2KakaoVentures3SouthKorea2MassMutualVentures3UnitedStates2MitsubishiUFJCapital3Japan2NTTDoCoMoVentures3Japan2SMBCVentureCapital3Japan49CollectionSpotlights50HealthcareAI51StateofAI|CollectionSpotlights|HealthcareAIHealthcareAIfundingdropstoa9-quarterlow$4.0B$3.5B$3.0B$2.5B$2.0B$1.5B$1.0B$0.5B$0.0B

200164180144142147160138137136140124117Deals115109110108107129104120878384Funding100$1.6B80604020$0.7B$1.0B$1.1B$0.6B$0.7B$1.1B$1.8B$0.9B$1.2B$1.3B$2.1B$2.3B$2.6B$2.8B$3.4B$3.7B$2.5B$2.0B0Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q32018201920202021202252StateofAI|CollectionSpotlights|HealthcareAITheUSaccountsfor62%ofhealthcareAIfundingUS$1.0B58Deals

Canada$9M3DealsEurope$0.3B24DealsLatAm&Caribbean$2M1Deal

Asia$0.3B42DealsAustralia$7M1Deal53StateofAI|CollectionSpotlights|HealthcareAIUSquarterlydealsharedips,breakingits4-quartergrowthstreak7%7%6%7%5%6%6%5%8%7%7%20%13%15%19%14%15%16%18%18%19%19%14%16%16%16%20%24%20%28%31%27%28%27%25%35%34%34%28%35%40%24%33%39%35%37%32%

AllOtherRegions,4%Europe,19%Asia,33%53%52%52%51%51%48%US,45%47%41%38%45%43%39%41%46%41%40%44%46%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q32018201920202021202254StateofAI|CollectionSpotlights|HealthcareAIAverageandmediandealsizesarebothdownin2022YTDAverageDealSizeMedianDealSize$29M$19M$13M$4M$7M$6M201820202022201820202022YTDYTD55StateofAI|CollectionSpotlights|HealthcareAIMid-stagedealshareisdown5percentagepointsin2022YTD6%7%7%7%5%9%9%13%18%22%22%75%71%62% 62%20182019202020212022YTD

Other,10%Late-stage,9%Mid-stage,17%Early-stage,63%56StateofAI|CollectionSpotlights|HealthcareAIHealthcareAI:TopequitydealsinQ3'22CompanyRoundAmountRoundRoundValuationSelectInvestorsCountry%ofTotalDateFundingArsenalBio$220MSeriesBKleinerPerkinsCaufield&Byers,Bristol-MyersSquibb,1N/AEuclideanCapital,ParkerInstituteforCancerUnitedStates14.0%2022-09-06Immunotherapy,UCSFFoundationInvestmentCompany2Cleerly$192MSeriesC$572MFidelityInvestments,T.RowePrice,CignaVentures,DigiTxUnitedStates12.2%2022-07-25Partners,LRVHealth3Cera$160MSeriesCN/AKairosHQ,EvolveHealthcarePartners,GuinnessAssetUnitedKingdom10.2%2022-08-03Management,YabeoCapitalSendaBiosciences$123MSeriesCAlexandriaVentureInvestments,FlagshipPioneering,4N/ALongevityVisionFund,PartnersInvestment,StateofUnitedStates7.8%2022-08-16MichiganRetirementSystem5BigHatBiosciences$75MSeriesB$228MSection32,AndreessenHorowitz,8VC,AMECloudVentures,UnitedStates4.8%2022-07-20Gaingels6EchoNous$57MSeriesCN/AN/AUnitedStates3.7%2022-09-267DiagnosticRobotics$45MSeriesBN/AStageOneVentures,ClalInsurance,MayoClinicVentures,Israel2.9%2022-07-25BankHapoalim,MigdalInsuranceSyapse$35MVentureCapitalInnovatusCapitalPartners,AllyBridgeGroup,MerckGlobal8N/AHealthInnovationFund,NorthpondVentures,RevelationUnitedStates2.2%2022-07-27Partners8InsilicoMedicine$35MSeriesDN/AProsperity7Ventures,BCapitalGroup,BOLDCapitalHongKong2.2%2022-08-10Partners,BohaiHuamei,DeerfieldManagement10ADEN$30MSeriesBN/AHaierCapital,EasternBellCapital,SinovationVentures,China1.9%2022-07-08XingtuoCapital57StateofAI|CollectionSpotlights|HealthcareAIQ3’22seesnonewhealthcareAIunicorns20TotalUnicorns,201816134322NewUnicorns,0Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q32018201920202021202258StateofAI|CollectionSpotlights|HealthcareAIM&AexitsplummetQoQ11 119 952 21 1 1

M&A,3SPAC,1IPO,1Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q32018201920202021202259FintechAI60StateofAI|CollectionSpotlights|FintechAIFintechAIdealshitarecordlow$1,400M$1,200M

60 60

62 63 63

69705756596055$1,000M$800M$600M$400M$200M$M

535350$338M$266M$551M$371M$306M$1,131M$730M$445MQ1Q2Q3Q4Q1Q2Q3Q420182019

535148465044Deals4240Funding$550M302010$462M$674M$873M$914M$798M$1,131M$1,151M$886M$885M$833M0Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q320202021202261StateofAI|CollectionSpotlights|FintechAIEuropecapturesmorethanhalfoftheglobalfundingtofintechAICanada$10M3DealsAsia$34M$214MEurope$292MUS19Deals10Deals

10Deals62StateofAI|CollectionSpotlights|FintechAIUSdealsharesurges20percentagepointsinQ3’225%12%11%6%6%7%11%11%8%9%13%8%10%13%30%25%19%32%33%16%29%26%25%30%27%19%29%20%25%34%44%28%37%29%32%16%21%18%32%25%30%34%27%35%32%25%36%24%14%22%40%49%45%46%48%46%37%38%39%38%37%35%36%28%30%30%30%25%

AllOtherRegions,7%Europe,24%Asia,24%US,45%Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q32018201920202021202263StateofAI|CollectionSpotlights|FintechAIAverageandmediandealsizesdropin2022YTDAverageDealSizeMedianDealSize$22M$19M$1