Founders Fund
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- Venture Capital
Nominal opens permanent Seattle office, led by Stephen Slattery, after $80M raise at $1B valuation
Los Angeles-based industrial-software startup Nominal is opening a permanent Seattle office, led by Stephen Slattery, and plans to more than double its local team after raising $80 million at a $1 billion valuation. The company, which serves defense, energy, robotics and automotive customers, cited Seattle's engineering and aerospace talent as key reasons for the expansion.
OpenAI’s Kevin Weil Joins Stoke Space Board as Company Prepares First Launch of Fully Reusable Nova Rocket
OpenAI chief product officer Kevin Weil has joined the board of reusable rocket startup Stoke Space as it prepares for the launch of its fully reusable Nova rocket. Weil's expertise in scaling tech and AI products is expected to help guide Stoke from development to commercial operations.
Endurance Energy Raises $54M Series A to Advance Deep-Ocean Geothermal Infrastructure
Endurance Energy, a Seattle developer of deep-ocean geothermal energy harvesting infrastructure, raised $54 million in a Series A funding round.
Seattle's Endurance Energy Raises $54M to Develop Deep-Sea Geothermal Power, Targets Grid Delivery in Two Years
Seattle startup Endurance Energy, led by former SpaceX engineer Andrew Redd, raised $54 million to develop deep-sea geothermal power technology and plans to deliver electricity to the grid within two years. The company aims to produce gigawatt-scale energy by deploying its 100-kilowatt generator 'Adelie' to the Juan de Fuca ridge this fall.
Avalanche Energy Secures $29M Led by RA Capital to Develop Desktop-Sized Fusion Power and Launch FusionWERX Facility
Seattle's Avalanche Energy raised $29 million led by RA Capital Management to advance fusion power and open FusionWERX, a commercial-scale test facility in Washington. The funding supports developing compact fusion devices for specialized applications, diverging from competitors focusing on large-scale fusion reactors.
Seattle Fusion Startup Avalanche Energy Raises $14.9 Million to Advance Compact Fusion Devices
Seattle startup Avalanche Energy raised $14.9 million in a new funding round to develop compact fusion energy devices and pursue commercial applications. The company already secured $50 million from investors and contracts including a Pentagon deal and a $10 million state grant for a fusion testing facility.
Avalanche Energy Receives $10M Washington State Grant to Build FusionWERX Fusion Energy R&D Site
Avalanche Energy secured a $10 million grant from the Washington State Department of Commerce to build FusionWERX, a commercial-scale fusion energy testing facility in Richland, Washington, aimed at supporting fusion R&D and job creation. The facility will serve universities, companies, and government labs to advance fusion power technologies and the clean energy supply chain.
Galvanick Industrial Cybersecurity Startup Opens Seattle Office to Combat Rising Ransomware Threats
Galvanick, an industrial cybersecurity startup founded in 2021 by former White House and Amazon experts, helps manufacturers monitor for cyberattacks and recently opened a Seattle office near Amazon's headquarters amid rising ransomware threats.
Avalanche Energy Raises $40M Series A Led by Lowercarbon Capital and Hits 200 kV Fusion Milestone with Device Marty
Avalanche Energy, a Seattle-based micro-fusion startup, secured $40 million in a Series A funding round led by Lowercarbon Capital and announced a technology milestone operating its fusion device Marty at 200 kV. The company aims to develop small-scale fusion power with the potential for unlimited clean energy and plans to reach 300 kV within the next year.
QA Wolf Raises $20.1M from Peter Thiel to Expand Code Vetting Services as Startup Exits Stealth
QA Wolf, a Seattle-based startup helping companies vet lines of code for bugs, emerged from stealth after raising $20.1 million led by Peter Thiel to expand engineering and marketing. The firm, founded in 2019, serves clients from startups to large enterprises and has seen fivefold revenue growth in nine months.
Citizen expands to Seattle after testing, bringing nearly 10M users and $133M in funding to 60+ US cities
Citizen, a public-safety app that monitors 911 and other emergency feeds and lets users share and view incident reports, is officially launching in Seattle after months of testing and about 30,000 local downloads. The startup operates in 60+ U.S. cities with nearly 10 million users, has raised $133 million, and offers a $19.99/month Protect subscription for 24/7 emergency assistance.
Chronosphere raises $200M Series C led by General Atlantic, valuation tops $1B
Chronosphere, founded in 2019 by former Microsoft and Uber engineers Martin Mao and Rob Skillington, raised $200 million in a Series C led by General Atlantic, valuing the company above $1 billion. The cloud-native data observability startup has grown ARR 9x in 2021, has 80 employees (plans to add 35), and has raised $255 million total.
Seattle-area CaaMTech Raises $22M to Develop Novel Tryptamines, Aiming for Human Testing
Seattle-area startup CaaMTech raised $22 million to develop synthesized tryptamine compounds similar to those in psilocybin and LSD, aiming to create defined formulations that maximize desired psychedelic effects and minimize side effects. The company says many of its novel agents are unscheduled in the U.S., and it plans to advance toward human testing amid growing investment and interest in psychedelics for mental-health treatments.
Porch Group (PRCH) Raises $322M, Debuts on Nasdaq with $1B+ Valuation After SPAC Merger
Seattle-based home services technology company Porch (now Porch Group) went public via a SPAC merger and private investment, raising more than $322 million and debuting with a market value above $1 billion at $15 per share. Founder and CEO Matt Ehrlichman marked the Nasdaq opening bell on Dec. 24, 2020, and the company will trade under ticker PRCH.
Porch to Merge with PropTech Acquisition Corp. in SPAC Deal Valuing Company at $523M; to Trade as PRCH
Porch, a Seattle-based real estate tech and home-improvement marketplace, will go public via a SPAC merger with PropTech Acquisition Corp. at a $523 million valuation, receiving a $150 million investment and an expected $205 million cash balance while projecting revenue growth and narrowing losses.
Kandela sues Porch and CEO Matt Ehrlichman for $11.5M, alleging fraud over earnout after April 2019 acquisition
Kandela, a Los Angeles moving-concierge startup acquired by Porch in April 2019, sued Porch and CEO Matt Ehrlichman in Los Angeles County Superior Court alleging fraud and breach of contract aimed at denying Kandela its earnout, seeking $11.5 million plus punitive damages.
