Seattle startup Rubica shuts down after raising $15 million but failing to secure further investment

Seattle cybersecurity startup Rubica, founded in 2016 and spun out of Concentric Advisors, shut down after raising $15 million but failing to secure further investment or reach profitability amid pandemic-driven revenue declines. CEO Frances Dewing said the company is liquidating assets and was unable to convince investors to back a pivot toward serving larger businesses.