Financial firms reap benefits of hot venture capital market

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Stripe, a privately held payments processor whose valuation recently doubled, is emblematic of how heated the venture capital market has become.

It was one of 55 U.S. companies that each raised $100 million or more in funding rounds held in the third quarter. Six companies broke the $500 million investment mark.

Largely as a result, overall venture funding rose 17% from the second quarter and 33% year over year to $27.5 billion, according to an analysis from PwC and CB Insights. There were 1,229 deals in the third quarter.

“This quarter approached quarterly funding records,” Tom Ciccolella, partner and U.S. venture capital leader at PwC, said in the report.

Stripe’s value skyrocketed to $20 billion from a previously reported $9

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