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Soteris Raises $8M+ Seed Round Led by Spider Capital to Offer Policy-Level Profitability AI for P&C Insurers
Soteris, a Y Combinator–backed machine-learning startup led by CEO Sunit Shah, raised over $8 million in seed funding led by Spider Capital to expand its AI product that identifies profitable and loss-making individual policies for property-and-casualty insurers. The platform analyzes policy-level combinations of characteristics to pinpoint risky or valuable policies without changing rates, forms, filings, or staffing.
Temporal Raises $300M at $5B Valuation to Support Reliable AI Agent Workflows in Production
Temporal raised $300 million in a Series D round led by Andreessen Horowitz, doubling its valuation to $5 billion by supporting reliable execution for AI systems. The Bellevue-based company's software powers long-running workflows for clients like OpenAI, with revenue and usage surging significantly as AI agent deployments grow.
Tiger Global Leads $146M Funding Round for Temporal, Raising Valuation to $1.72B
Temporal, a Seattle startup that offers an open-source microservices orchestration platform, raised $146 million in a funding round led by Tiger Global, boosting its valuation to $1.72 billion. The company serves major clients like Snap and Netflix, with a reported 4.4X revenue growth in 18 months.
Nvidia Acquires Seattle AI Startup OctoAI for Over $250 Million, Ending Its Service Offering by October 31
Nvidia has acquired Seattle-based AI startup OctoAI, which helps run generative AI models efficiently, for a price potentially exceeding $250 million including retention incentives. OctoAI is winding down its services by October 31, marking Nvidia's continued expansion in AI amid rising regulatory scrutiny.
Yifan Zhang Joins AI2 Incubator as Managing Director; Dropbox, Marchex, and Seattle Startups Appoint New Tech Leaders
Yifan Zhang, former Loftium co-founder, is joining the AI2 Incubator as managing director starting February 2024, while several Seattle tech companies made key executive hires including Dropbox, Marchex, Simply Augmented, and Chainguard.
Seattle-Area Startup Chainguard Raises $61M Series B to Secure Open Source Software Supply Chains
Chainguard, a Kirkland-based cybersecurity startup focused on securing open source software supply chains, raised $61 million in a Series B funding round led by Spark Capital. The company has tripled its annual recurring revenue recently and counts Hewlett Packard Enterprise and Snowflake among its customers.
Seattle Startup MotherDuck Raises $52.5M Series B at $400M Valuation to Expand DuckDB-Based Analytics Platform
MotherDuck, a Seattle-based analytics startup founded by former Google engineer Jordan Tigani, raised $52.5 million in a Series B round at a $400 million valuation to advance its collaborative serverless analytics platform built on DuckDB. The funding follows prior rounds led by Andreessen Horowitz and Redpoint Ventures and aims to offer a simpler, cost-effective SQL analytics solution for businesses without petabyte-scale data.
Seattle Startup MotherDuck Launches Serverless Analytics Platform With $47.5M Funding Led by Andreessen Horowitz
Seattle-based startup MotherDuck, founded by Jordan Tigani, unveiled its serverless data analytics platform built on DuckDB and announced $47.5 million in funding led by Andreessen Horowitz. The company aims to enable analysts to query data across multiple sources and plans a public beta release in March 2023.
Seattle Startup Diagrid Raises $20M Series A Led by Norwest, Backed by Microsoft Azure CTO and Kubernetes Co-founder
Seattle startup Diagrid, co-founded by former Microsoft engineers who created the Dapr project, raised $20 million in a Series A led by Norwest Venture Partners to provide managed Dapr on Kubernetes services. The company’s software supports cloud-native applications and has backing from prominent industry figures including Microsoft Azure CTO Mark Russinovich and Kubernetes co-founder Joe Beda.
Temporal raises $103M Series B at $1.5B valuation as 55-person startup reaches unicorn status
Temporal, a 55-person Seattle startup that provides an open-source microservices orchestration platform, raised $103 million at a $1.5 billion valuation, becoming a unicorn three years after launch with total funding over $120 million. The company—founded by former Uber engineers Maxim Fateev (CEO) and Samar Abbas (CTO)—says adoption is growing 25–50% month-over-month and counts customers like Snap, Netflix, Instacart, and Qualtrics.
OctoML Raises $85M Series C Led by Tiger Global to Expand ML Partnerships and Engineering Team
OctoML, a University of Washington spinout specializing in machine learning optimization, raised $85 million in a Series C funding round, bringing its total to $132 million. The company plans to expand its partnerships with hardware and cloud vendors while nearly tripling its engineering team.
Archera raises $7M Series A to automate AWS and Azure cost optimization, bringing total funding to $10.3M
Seattle startup Archera (formerly Reserved.ai) raised $7 million in a Series A to help AWS, Azure and other cloud customers automate resource management and purchasing; the company reports 150% revenue growth this year and counts customers like Fortive and Guardant Health.
Microsoft acquires Seattle AI spend-analysis startup Suplari, to integrate with Dynamics 365
Microsoft has acquired Seattle startup Suplari, which uses AI to analyze procurement and spending data and manages over $180 billion in spend; Suplari’s Spend Intelligence Cloud will remain available to existing customers and will be paired with Microsoft Dynamics 365. Terms were not disclosed; Suplari — a 40-person company founded in 2016 that raised $18 million — provides AI-driven cost-savings and risk insights across enterprise systems.
OctoML raises $28M Series B to speed ML deployment across phones, cars and cloud; backed by Apache TVM creators
Seattle startup OctoML, a University of Washington spinout led by CEO Luis Ceze, raised $28 million in Series B funding to help companies deploy and optimize machine-learning models across diverse hardware. The team — creators of Apache TVM — counts partners like Qualcomm, Microsoft and AMD, has ~1,000 early Octomizer sign-ups, 45 employees and plans >50% headcount growth this year.
Temporal raises $20M Series A led by Sequoia to commercialize open-source microservices orchestration
Temporal, a Seattle startup founded by former Uber engineers and cloud veterans, raised $20 million in a Series A led by Sequoia to commercialize its open-source microservices orchestration platform that improves developer productivity and reliability. Major customers include Snap, Box, Checkr, HashiCorp, and Coinbase, and investors include Madrona, Addition, Amplify and Snowflake ex-CEO Bob Muglia.
OneTrust acquires Seattle AI-focused privacy startup Integris, folds tech into OneTrust DataDiscovery and keeps 20-person Seattle team
Atlanta-based privacy software firm OneTrust has acquired Seattle startup Integris Software and integrated its AI-based discovery technology into OneTrust DataDiscovery while retaining Integris’s 20-person Seattle team. Integris, founded in 2016 and a $16 million VC-backed company, will support tasks like compliance monitoring during cloud migrations and data governance.
OctoML raises $15M from Amplify and Madrona to scale TVM-based ML deployment tools
Seattle startup OctoML, spun out of the University of Washington and led by Apache TVM creators, raised $15 million from investors including Amplify and Madrona to expand its ML deployment software. The company, which launched a TVM-based SaaS called Octomizer, will use the funding to grow hiring and scale its optimizer for edge and cloud model deployment.
