Venture capital to Utah companies rose to $103 million in this year's second quarter, up slightly from $90 million in the first quarter and nearly double the $57 million raised in the second quarter of 2004.

The 2005 second quarter's funding represented the highest amount raised by Utah companies since the third quarter of 2000.

According to the quarterly MoneyTree Survey, by PricewaterhouseCoopers, eight Utah companies captured venture money, led by a $40 million deal to Orem-based Omniture Inc., which was funded in large part by Bank of America Venture Partners.

The Omniture deal ranked as the 10th largest deal nationwide in the second quarter, according to Steven Stauffer, senior audit manager of PricewaterhouseCoopers in Salt Lake City.

The largest deal was a $312 million funding for Integro Limited of New York City.

Other investors in the Omniture deal included Hummer Winblad Venture Partners and Attractor Investment Management.

Omniture, which tracks Web site traffic, said its latest deal represents its third round of financing, through which the company has raised a total of $65 million since its founding in 1996.

"It appears the investors have regained their confidence in the economy and continue to make later-stage investments in companies," Stauffer said. "And the number of companies that are getting their initial round of financing is also increasing."

Salt Lake-based Tandem Labs, which helps clients reduce the overall time in bringing new medicines to market, secured $18.8 million during the quarter.

Utah venture funding in the second quarter of 2005 made up 1.8 percent of the $5.8 billion in total U.S. venture investments.

"In comparison to the rest of the country, we are doing very well," Stauffer said. "Our average deal is way up, and the percentage of deals and the percentage of money that we're getting is also way up in comparison to where we've been in prior years. On a whole, Utah is doing very well."

John Knab, a board member of Salt Lake-based MountainWest Capital Network, said venture capital flowing to Utah companies is strong.

"Last year was a great year," Knab said. "And for this year to be up so dramatic in Utah is a really impressive fact. I don't think there has been a better time to raise money in Utah than right now."

Knab added that the state's venture capital infrastructure is in place.

"We have a nice array of venture capital firms from early stage angel money all the way through to later stage buyout funds like Sorenson Capital," Knab said. "I think it is a great day to be an entrepreneur in Utah. That wasn't the case a few years ago."

The MoneyTree Survey is made in cooperation with PricewaterhouseCoopers, Venture Economics and the National Venture Capital Association.

The survey captures equity investments but excludes debt, bridge loans, recapitalizations and initial public offerings.

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E-mail: danderton@desnews.com