Editor’s note: This story and the headline have been revised to reflect changes in statistical data from the CED.

RALEIGH, N.C. – Angel investors, corporate funds and family offices are the story behind a significant jump in funding to North Carolina companies from 2013 to 2014.

The Council for Entrepreneurial Development calls them “undisclosed investors.”

They aren’t required to report their investments to the Securities and Exchange Commission, meaning they’re left out of national venture capital data that show declines in funding to North Carolina startups in recent years.

According to the CED Innovators Report—what the organization believes to be the first of its kind nationally—total funding topped $622 million in 2014, up from $461 million. Especially interesting in the data was a spike in tech funding from $116.9 million in 2013 to $278 million in 2014, outpacing life science investment by about $36,000.

Advanced manufacturing companies, meanwhile, received $81.7 million, a $12 million increase over 2013. 

One way to explain the trend, says CED President Joan Siefert Rose, is those active angels and family offices want returns in three to five years and traditional life science companies (pharmaceutical and drug development specifically) can’t meet that demand due to government regulation. A growing piece of the tech pie, however, are digital health companies.

For the first time this year, they also will have a large presence at the CED Life Science Conference, which kicks off today in downtown Raleigh.

CED says investors attending the conference asked for them to be included.

Other interesting highlights of the study include a growth in the number of investors into North Carolina companies—132 unique funders up 23 percent from 108 in 2013. 20 of those came from California, representing the second largest state for investment into NC startups.

For more details, read: http://exitevent.com/article/funding-to-nc-companies-jumps-35-in-2014-150303

(Note: ExitEvent is a news partner of WRAL TechWire.)