Leafly
Facts
- HQ
- Seattle
- Sectors
- Cannabis, Online marketplace, Information
- Stage
- Public
Seattle Tech Startups Eye IPO Revival in 2024 After Two-Year Drought Amid Market Stabilization
Seattle's tech industry has seen no traditional IPOs in over two years amid a market slowdown, but optimism is growing for more public listings in 2024 due to a stabilized macroeconomic environment and a rising stock market. Experts caution that realistic pricing and market conditions will influence which startups decide to go public.
Seattle Tech Leaders Dave Cotter, Johanna Faries, and Marie Donoghue Take New Roles at D3 Advisors, Blizzard, and DraftKings
Dave Cotter, former Leafly chief product officer and ex-Amazon executive, launched advisory firm D3 Advisors to consult startups and VCs. Other Seattle tech moves include Johanna Faries becoming Blizzard Entertainment president and Marie Donoghue joining DraftKings as chief business officer.
Tagboard CEO Nate Peterson led turnaround to $6M ARR and closed $14.2M Series A in 2021 to scale cloud live-production tools
Nate Peterson, CEO of Tagboard, described his path from corporate roles at Microsoft and T-Mobile through startups and Privateer Holdings to joining Tagboard, where he led a turnaround and helped grow the company to $6M ARR before raising a $14.2M Series A in 2021. Tagboard pivoted from social-aggregation displays to cloud-based live production tools (Tagboard Producer and Cloud Graphics), now serving 500+ media brands, powering major live events, and delivering hundreds of billions of impressions annually.
Seattle Carbon Removal Startup Nori Lays Off 10 Employees Amid Market Challenges
Seattle-based carbon removal startup Nori laid off 10 employees, about 37% of its staff, due to challenging market conditions and tightening startup funding. Founded in 2017, Nori focuses on selling carbon credits from sustainable farming practices and recently integrated its marketplace on blockchain.
PitchBook Introduces VC Exit Predictor Tool Analyzing Successful Exit Chances for Top Pacific Northwest Startups
PitchBook has launched a new machine learning tool called the VC Exit Predictor that forecasts the likelihood and type of successful exits for venture-backed startups using data from over 120,000 companies. The tool was applied to analyze the top 50 Pacific Northwest tech startups in the GeekWire 200, highlighting several with notable opportunity scores, but it is not intended to replace traditional due diligence.
RealWear to Go Public via SPAC Merger with Cascadia Capital Valued at $375.5 Million
RealWear, a Vancouver, Washington-based industrial headset maker, is going public through a SPAC merger with Seattle's Cascadia Capital, valuing the combined company at $375.5 million. The company, serving over 5,000 enterprise customers including 41 Fortune 100 firms, reported $20.5 million in revenue for 2022 with a 63% gross margin.
Seattle’s Banzai to Go Public via SPAC with 7GC Holdings and Acquire Hyros for $110 Million
Seattle marketing software startup Banzai announced it will go public via a SPAC merger with 7GC Holdings and pay $110 million to acquire marketing optimization company Hyros after the deal closes. Founded in 2016, Banzai has pivoted to provide an end-to-end video engagement marketing platform and now employs 94 people.
Seattle Trucking Startup Convoy Conducts New Layoffs Amid Economic Pressures Following $260M Funding
Seattle-based trucking startup Convoy has conducted another round of layoffs amid economic uncertainty and supply chain challenges, following a 7% workforce reduction earlier this year after raising $260 million at a $3.8 billion valuation.
Seattle Cannabis Startup Polite Launches Science-Backed THC and CBD Products Focusing on Health Since 2020
Seattle-based cannabis startup Polite offers science-backed, health-focused THC and CBD products launched in 2020 and 2022, aiming to reframe cannabis as a polite self-care solution. The company partners with physicians to study patient outcomes and emphasizes medical benefits over recreational use.
Tagboard raises $8M to expand cloud live-production platform as Nathan Peterson becomes CEO
Seattle-area startup Tagboard raised $8 million to expand its cloud-based live production and graphics platform used by sports teams, broadcasters and media companies. The 40-person firm, which counts more than 600 clients including CNN, FOX and Telemundo, aims to replace legacy hardware and enable remote production after promoting Nathan Peterson to CEO.
Headset raises $8.6M — $3M VC led by Althea plus $5.6M bridge-note conversions — to expand cannabis analytics
Seattle-based cannabis analytics firm Headset raised $8.6 million, including $3 million from a VC round led by Althea and conversion of $5.6 million in bridge notes, to expand into new legal markets and add services.
GeekWire: Pacific Northwest records 55 exits and 282 VC deals this year, including Rad Power Bikes’ $154M round
GeekWire reports a surge in deal activity across the Pacific Northwest this year, tracking 55 acquisitions, SPACs, IPOs and private equity buyouts and 282 venture financings (nearly one per day). Notable transactions include Nintendo’s Jan. 5 acquisition of Next Level Games, BitTitan’s sale to Idera, and Rad Power Bikes’ $154 million funding round.
Dutchie raises $350M Series D, valuation doubles to $3.75B after seven months
Cannabis e-commerce and point-of-sale startup Dutchie raised $350 million in a Series D, doubling its valuation to $3.75 billion just seven months after a $200 million round and bringing total funding to $603 million.
Cloudentity Names Jason Needham as CEO After $13M Series A; Leafly Appoints Suresh Krishnaswamy as CFO; Chris Suh Joins Cardlytics Board; Three Named HHMI Investigators
Seattle startup Cloudentity named Jason Needham, ex-CloudCoreo and VMware multi-cloud security lead, as CEO and board member after a $13M Series A; Leafly hired Suresh Krishnaswamy as CFO as it prepares for a SPAC, and Microsoft CVP Chris Suh joined Cardlytics' board. Trevor Bedford, Frederick Matsen IV and David Veesler were named 2021 HHMI Investigators, each receiving roughly $9M over seven years.
GeekWire Podcast: SPACs propel Seattle startups public — Leafly-like cannabis marketplace, pet-care firm posts first public earnings, Redmond biotech raises $80M
The GeekWire Podcast explores how SPACs are rapidly taking Seattle startups public, highlighting a soon-to-be Nasdaq-listed cannabis marketplace, a pet-care company reporting its first public earnings, and a 3-year-old Redmond biotech that raised $80 million. The episode features intern and guest editor Laurel Deppen discussing local reporting, her Seattle impressions, and lighter cultural segments.
Headset raises $1.8M led by Silverleaf to expand cannabis data platform into newly legalized U.S. markets
Seattle startup Headset, which offers a business-intelligence platform for the legal cannabis industry, raised $1.8 million to expand into newly legalized markets; the round was led by Silverleaf Venture Partners with WGD Capital and Poseidon participating. Founded in 2015 by former Leafly co-founders Cy Scott, Brian Wansolich and Scott Vickers, Headset has now raised nearly $20 million after a $3.2 million raise last year.
Usermind lays off 15 employees (25% of staff) amid COVID-19; CEO Michel Feaster calls it heartbreaking
Seattle marketing-software startup Usermind laid off 15 employees — about 25% of its staff — citing economic impact from the COVID-19 crisis, CEO and co-founder Michel Feaster said. The company, founded in 2013 and backed with over $45 million in funding, will help affected workers find new jobs while focusing on its customer-journey platform.
Rover lays off 41% of staff (194 people) amid COVID-19, extends health benefits for six months
Seattle-based pet care startup Rover laid off 41% of its workforce (194 employees impacted) and put an additional 9% on standby due to revenue declines from COVID-19; about 275 employees remain and affected staff receive six months of extended health benefits and extended stock option exercise windows.
