Facts
- HQ
- United States
- Sectors
- Fintech, Banking, Corporate cards
- Founded
- 2024 Seattle business license
- Type
- Corporation Seattle business license
- Registered name
- Brex Inc Seattle business license
PitchBook: AI Megadeals Took 87.5% of U.S. VC Dollars in H1 2026, Series D+ AI Valuations Jump 6.6x
PitchBook's Q2 2026 U.S. VC valuations show that AI megadeals captured 87.5% of venture dollars in H1, driving much larger valuation step-ups (median 2.2x for AI vs 1.6x non-AI and 6.6x at Series D+). Liquidity is limited—IPOs are sparse and acquisitions are mixed—while top AI firms like Anthropic are inflating return expectations and skewing the market.
Logic raises $4.3M seed round and launches GA no-code automation platform
Logic, a Seattle business automation company founded in 2024, raised $4.3 million in a Seed round and launched the general availability of its no-code automation platform after a year-long beta. The funding, from investors including Founders’ Co-op, Audacious, Neo (Ali Partovi), Brex executives, and Convoy co-founder Dan Lewis, will be used to expand product capabilities, grow adoption, and strengthen engineering and go-to-market teams.
Stifel Bank’s Minh Le Urges Startups to Use Two Banks and Highlights Stifel’s $250M FDIC-Insured Cash Sweep
Minh Le, Managing Director at Stifel Bank, advises startup founders to maintain two banks (a primary strategic bank and a backup), prioritize cash safety and liquidity (highlighting Stifel’s Insured Cash Sweep offering up to $250M FDIC coverage), and consider bank choice based on platform, relationships, and product fit rather than just UI. He discusses pros and cons of Stifel, big banks, and fintechs like Mercury and Brex, and offers practical guidance on sweep accounts, treasuries, venture debt terms, working-capital facilities, and equipment financing.
Databricks Raises $10B at $62B Valuation and Expands Seattle Area Workforce to Nearly 400 Employees
Databricks is raising $10 billion at a $62 billion valuation to accelerate its AI efforts and plans to expand its Seattle-area offices, which have grown from 52 employees in 2021 to nearly 400 today. The company is actively hiring across engineering, product, and security roles to compete for AI talent alongside companies like OpenAI and Anthropic.
Seattle Engineers Steve Krenzel and Jess Garms Raise $4.3M for Logic, an AI Startup Automating Business Processes via Document-Driven APIs
Seattle engineers Steve Krenzel and Jess Garms founded Logic, raising $4.3 million to develop AI-powered automation that transforms business workflow documents into APIs. Their startup aims to simplify enterprise automation using large language models for various industries including e-commerce and logistics.
OpenAI Opens Bellevue Office Near Microsoft HQ Following $6.5 Billion Funding Round
OpenAI has opened a new office in Bellevue, Washington, near Microsoft’s headquarters, to leverage local engineering talent and strengthen their partnership. This move follows OpenAI's $6.5 billion funding round and expansion of offices globally including New York, Paris, and Singapore.
Center Raises $30M Series C to Expand Corporate Expense Software with API and Bank Partnerships
Center, a Seattle-area startup offering a corporate credit card and real-time expense analytics platform used by over 1,000 companies, raised $30 million in Series C funding to expand via APIs and potential bank partnerships. The company has seen 64% customer growth and doubled revenue, aiming to innovate with AI and industry-specific integrations.
Statsig Releases Warehouse Native Platform and AI Experimentation Tools Under CEO Vijaye Raji
Statsig, founded by Vijaye Raji in 2021, has released Statsig Warehouse Native, enabling privacy-conscious companies to run A/B testing via their own data warehouses. The Seattle startup also launched generative AI experimentation tools and now serves hundreds of paying customers including Microsoft and Notion.
Statsig Raises $43M Series B Led by Sequoia to Accelerate Real-Time Product Feature Testing
Seattle-based startup Statsig raised $43 million in a Series B round led by Sequoia Capital to enhance its real-time product feature testing technology. Founded by ex-Facebook engineer Vijaye Raji, Statsig helps companies run hundreds of product experiments in parallel using live data, boasting rapid growth and seven-figure revenues.
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.
