Accolade
Facts
- HQ
- Pittsburgh, Pennsylvania
- Sectors
- Health benefits, Healthcare delivery, Healthcare navigation, Advocacy services, Health tech
- Stage
- Public
Matt McIlwain (Madrona) on lessons from 20 years of VC investing, traits of top entrepreneurs, and building a bigger pie
20 years as a VC at Madrona. Headline IPOs like Accolade, Smartsheet, Apptio, Isilon. Invested in cloud before it was cool. 3x Midas list. 3x CB's top 100 VC list. Matt goes behind the scenes on his lessons (from the highs and lows), Madrona's philosophy, and how the best leaders work.
Athira Pharma prices IPO at $17, sells 12M shares to raise $204M; will trade as ATHA on Nasdaq
Seattle biotech Athira Pharma priced its IPO at $17 per share, selling 12 million shares to raise at least $204 million and will begin trading on Nasdaq under ticker ATHA; the company is developing NDX-1017 for neurodegenerative diseases and has no commercial products yet. Founded in 2011 and led by CEO Dr. Leen Kawas, Athira reported net losses in 2019 and H1 2020 and has raised over $100 million privately, including an $85 million Series B.
Snowflake raises $3.4B in largest software IPO, opens at $245 and closes at $253.93 valuing company over $60B; Madrona an early investor
Snowflake raised $3.4 billion in the largest-ever software IPO, pricing at $120 and opening at $245 before closing at $253.93 to value the company above $60 billion; early investor Madrona Venture Group, which invested in 2017, benefited though it holds under 5% and did not disclose stake value.
GeekWire: Pacific NW startups raise big rounds — Vacasa $108M, Remitly $85M, Auth0 $120M, OfferUp $120M, Outreach $50M; Qumulo hits $1B
Pacific Northwest privately-held tech startups raised large funding rounds and increased valuations during the 2020 economic crisis, with several firms hitting or exceeding $1 billion valuations and total H1 2020 investment of $2.3 billion across 135 deals.
ZoomInfo posts Q1 as public company: revenue $110.9M (up 62%), non-GAAP EPS $0.07; shares fall 4% after hours
ZoomInfo reported its first quarterly results as a public company with revenue up 62% year-over-year to $110.9 million and non-GAAP EPS of $0.07, both beating expectations, while shares fell over 4% in after-hours trading.
GeekWire Awards 2020 Goes Virtual; Ally Wins Startup of the Year as Bill Gates and Celebrities Celebrate
GeekWire held a virtual GeekWire Awards livestream honoring top Pacific Northwest tech companies and leaders across 12 categories, with winners accepting via Zoom and special video messages from figures like Bill Gates. Seattle startup Ally won Startup of the Year, and the event included entertainment such as The Drunken Tenorperforming an "Opera di Zoom."
Seattle tech CFO survey: 37 respondents say three-quarters expect full COVID-19 recovery; nearly half raise 2020 spending forecasts
A survey of 37 Seattle-based tech CFOs finds the local tech industry remains resilient during the COVID-19 pandemic, with three-quarters expecting full recovery and nearly half raising 2020 spending forecasts versus early March. Many CFOs report higher Q2 bookings expectations and over 40% say their companies are increasing headcount despite widespread industry layoffs elsewhere.
Accolade exits GeekWire 200 after $220M IPO at $1.2B valuation; PNW health techs climb as VC funding hits $2.3B in H1 2020
GeekWire’s latest GeekWire 200 update shows health tech startups rising in the Pacific Northwest rankings during the pandemic, highlighted by Accolade’s $220M IPO at a $1.2B valuation and a surge in VC activity ($2.3B across 135 deals in H1 2020).
GeekWire: Pacific NW tech funding rises in H1 2020; Accolade prices IPO at $1.2B; GeekWire events go virtual
GeekWire Podcast reports Pacific Northwest tech funding stayed strong in H1 2020 despite the pandemic, with totals ahead of last year and Accolade becoming Seattle’s first 2020 IPO at a $1.2 billion valuation; the episode also previews virtual GeekWire events including Geeks Gaming for Good, a July 16 Roundtable on the Future of Sports, and the July 23 virtual GeekWire Awards.
Pacific Northwest startups attract $2.3B in H1 2020 as Sana Biotech’s >$700M June raise boosts totals
Despite the pandemic and recession fears, Pacific Northwest startups attracted $2.3 billion across 135 deals in H1 2020, up from $1.1 billion in 94 deals in H1 2019; Seattle-based Sana Biotechnology’s >$700 million June raise heavily skewed totals but H1 2020 still topped $1.6 billion excluding that deal.
Startup Surprise: Funding skyrockets despite pandemic
Here’s what we’re talking about on the GeekWire Podcast this week. Despite the pandemic, funding for Seattle tech startups remains robust in the first half of 2020. In fact, funding is ahead of last year. What gives? We consider whether COVID-19 is accelerating some companies into the new economy of remote working, online shopping and more. Check out our list of startup funding to see how companies are doing. Health benefits platform Accolade became Seattle's first IPO of the year, with an initial valuation of $1.2 billion. Headed by Raj Singh, a veteran Seattle startup entrepreneur, Accolade uses a variety…
Accolade prices IPO at $22, raises $220M and debuts on Nasdaq at $1.2B valuation as shares jump 40%
Health benefits platform Accolade priced its IPO at $22 per share, raising $220 million and debuting on Nasdaq with a $1.2 billion valuation; shares rose over 40% to $30.90 in early trading. The Seattle- and Philadelphia-based company, led by CEO Raj Singh, serves employers with a subscription model and reported $132.5 million revenue for fiscal 2020, with four customers contributing 59% of that revenue.
Accolade files IPO to sell 8.75M shares at $19–$21, seeks up to $211M and ~$1B valuation; will trade as ACCD
Accolade priced 8.75 million IPO shares at $19–$21 to raise up to $211 million, aiming for a ~ $1 billion valuation and Nasdaq ticker ACCD, positioning itself as Seattle's first public company of 2020. The health benefits platform reported $132.5 million revenue and a $51.3 million net loss for the fiscal year ending Feb. 29, serves 1.6 million members across 58 corporate customers, and estimates a $24 billion total addressable market.
Seattle Tech Firms Shift Perks to Remote Support: Accolade Hosts Virtual Commencement; OfferUp Adds Summer Fridays
With employees working from home during the pandemic and amid racial justice protests, Seattle-area tech companies are replacing traditional office perks with remote-focused benefits—virtual events, expanded leave and care packages—to support staff wellbeing and culture. Examples include Accolade's virtual commencement for employees' children and OfferUp's 'Summer Fridays' schedule.
GeekWire 200 CEOs and execs from Accolade, PayScale, DreamBox, Auth0, Moz and others share COVID-19 leadership advice
GeekWire interviewed leaders from top Pacific Northwest startups on the GeekWire 200 about how they’re responding to the COVID-19 crisis, sharing actions taken, leadership principles, and cautious optimism. The piece presents company-by-company perspectives from executives at firms such as Accolade, PayScale, DreamBox Learning, Auth0, Moz, Act-On, Remitly, Puppet, DefinedCrowd, and Icertis.
