NEW YORK (AP) — Funding for U.S. startup companies soared 57 percent in the first quarter to a level not seen since 2001, as venture capitalists piled more money into a growing number of deals, according to a report due out Friday.

Startup investments totaled $9.47 billion in the first three months of the year, up from $6.01 billion in the first quarter of 2013. It was the highest since the second quarter of 2001, when investments reached $11.5 billion.