PitchBook
Facts
- HQ
- United States
- Sectors
- Venture Capital and Private Equity Principals
- Founded
- 2007
- Type
- Corporation Seattle business license
- Employees
- 1569
- Registered name
- PitchBook Data Inc Seattle business license
- Stage
- Public
- Founders
- John Gabbert
Seattle’s Rad Power Bikes Files for Chapter 11 Bankruptcy with $73M Liabilities Amid Declining Revenue, Pursues Sale to Stay Afloat
Seattle-based Rad Power Bikes filed for Chapter 11 bankruptcy protection amid declining revenue and liabilities over twice its assets, while pursuing a sale to keep the company operating. The filing follows a recent CPSC safety warning over battery issues and ongoing financial challenges threatening the company's future and 64 jobs.
HandsRing Health Acquires Seattle’s Joon Care to Expand Digital Youth Mental Health Services
Seattle-based Joon Care, a mental health startup serving youth with evidence-based online therapy, was acquired by New York-based Handspring Health, which also offers virtual mental health services. The acquisition aims to build a leading digital platform for youth and family mental healthcare, though financial terms were not disclosed.
U.S. Safety Commission Warns Against Use of Rad Power Bikes' Lithium-Ion Batteries Citing Fire Hazard Amid Company's Financial Crisis
Rad Power Bikes is facing a U.S. Consumer Product Safety Commission warning to stop using certain lithium-ion batteries due to fire risks, which the company disputes, amid its ongoing financial struggles and potential shutdown. The CPSC urged removal and disposal of hazardous batteries sold with multiple Rad bike models, while Rad disagrees with calling the batteries defective or unsafe.
Rad Power Bikes Faces Potential Shutdown by January 2026 Amid Financial Struggles and Job Losses
Rad Power Bikes, a leading Seattle-based e-bike company that reached unicorn status during the pandemic, is facing potential shutdown due to significant financial challenges, with a possible closure impacting 64 jobs as early as January 2026. The company is exploring funding or acquisition options after a promising deal fell through and cites a drop in consumer demand, tariffs, and macroeconomic issues as contributing factors.
Founders' Co-op raises $50M to back ~30 Pacific Northwest early-stage tech startups with up to $1.5M each
Seattle venture capital firm Founders' Co-op raised a $50 million fund to invest up to $1.5 million each in about 30 early-stage Pacific Northwest tech startups, with a focus on enterprise software. The firm aims to shore up local founders amid uneven regional investment compared with San Francisco while local startup funding showed volatility in 2025.
Boundless Immigration Layoffs Precede Acquisition of Berlin-Based Localyze, Projected $31M Sales in 2025
Seattle startup Boundless Immigration laid off an undisclosed number of employees on September 25, 2025, reducing its staff to about 500, just days before announcing its acquisition of Berlin-based Localyze on October 1, 2025. Boundless anticipates 40% growth this year with projected sales of $31 million in 2025 and aims for profitability by 2027.
Seattle’s Agtech Startups Like Carbon Robotics Garner $157M to Drive Sustainable Farming Amid Industry Growth
Seattle and the Pacific Northwest are becoming a major hub for agriculture technology, driven by local tech talent, innovative farming, and advances in robotics and AI. Despite a dip in agtech investments from 2021 to 2022, startups like Seattle-based Carbon Robotics are raising significant funding and developing sustainable farming technologies.
Seattle Startup Boundless Acquires Berlin's Localyze to Expand Global Immigration Services Amid U.S. Policy Crackdown
Seattle startup Boundless Immigration has acquired Berlin-based Localyze to expand its immigration services globally amid the Trump administration's tightening of U.S. immigration policies. This acquisition allows Boundless to serve clients immigrating to over 30 countries, simplifying visa processes for corporate clients with international offices.
Seattle Ranks 4th in U.S. AI Startup Funding with 5.1%, Bay Area Leads with 51%, Data from Carta Shows
Seattle ranks fourth in AI startup funding in the U.S., capturing 5.1% of the market, while California’s Bay Area leads with 51%. The city is sixth overall in startup funding across sectors with $3.46 billion invested but lacks top-funded AI startups so far in 2024.
FoundHer House, San Francisco’s All-Female AI Hacker House Founded by Seattle Natives, Eyes Expansion to Seattle Amid $1.2B Funding Surge for Female-led Startups
FoundHer House, an all-female AI entrepreneur co-living space launched in San Francisco by Seattle natives Miki Safronov-Yamamoto and Anantika Mannby, is gaining attention as a model to support female founders amid the AI boom. With Seattle’s growing female-led startup funding surpassing $1.2 billion in 2024, the city is being considered for expansion of this initiative to help close the tech industry’s gender gap.
Apple Acquires Seattle AI Startup WhyLabs and Integrates Founders into New Roles in 2024
Apple has quietly acquired Seattle startup WhyLabs in 2024, incorporating its founding team into AI-related roles. WhyLabs is discontinuing operations and open-sourcing its platform following the acquisition, which includes rights to its intellectual property.
Seattle Startup Founders Discuss Fundraising, Hiring, and Return-to-Office Strategies at GeekWire Fremont Event
Seattle startup founders shared insights on fundraising, hiring, and navigating challenges such as talent acquisition and return-to-office policies during a GeekWire event in Fremont. Several CEOs highlighted successful capital raises in 2023, mixed approaches to in-office work, and the importance of networks amid a competitive talent market.
Seattle Startup Circulate Health Raises $12M to Expand $8,000-$10,000 Plasma Exchange Longevity Treatment
Seattle's Circulate Health raised $12 million in seed funding to expand its costly therapeutic plasma exchange service aimed at promoting longevity by cleaning blood plasma. The company partners with clinics across eight states and has delivered over 1,000 treatments since May 2024, although the procedure is not proven to slow aging or covered by insurance.
Nearly All Seattle GeekWire 200 CEOs Report AI-Driven Productivity Gains, Citing Up to 30% Increases
A survey of GeekWire 200 CEOs reveals that nearly all Seattle-area startups are experiencing productivity gains from AI, with many integrating it across multiple departments despite varying adoption levels. The trend aligns with broader industry data showing increased AI use, while challenges like trustworthiness and workforce impact remain.
Seattle Has Fewer Than 20 Unicorn Startups Amid Top AI Talent and Tech Giants in 2025
Seattle hosts fewer than 20 unicorn startups, representing about 1.5% of global unicorns as of January 2025, despite having a dense tech talent pool and being a prime location for AI businesses. Industry leaders argue that the number of unicorns alone is a poor measure of regional tech success, pointing to Seattle's strengths in AI, cloud giants, and fast-growing startups.
Apple Quietly Acquires Seattle AI Startup WhyLabs in 2025, Expanding Local AI Expertise
Apple appears to have quietly acquired Seattle startup WhyLabs, which specializes in AI application monitoring, marking another in a series of AI and machine learning acquisitions in the Seattle area. The acquisition, indicated by venture capital and LinkedIn clues but not publicly confirmed, aligns with Apple's ongoing investment in AI despite reports of lagging behind competitors.
GeekWire Week in Review: Bill Gates Pledges $200B, Statsig Hits $1.1B Valuation, Seattle Startups Raise Millions in May 2025
This GeekWire Week in Review highlights top tech stories including Bill Gates' $200 billion philanthropy pledge, Seattle startups raising significant capital, and the emergence of new AI-driven unicorn Statsig valued at $1.1 billion. It also covers local news like a controversial Washington EV tax and cultural moments involving Seattle figures.
Stepchange Raises $7M for Climate-Focused Venture Fund Targeting Software Startups in Transportation, Energy, and Resilience
Seattle-based venture firm Stepchange raised $7 million for its inaugural fund to invest in climate-focused startups targeting sectors like transportation, energy, and resilience with asset-light, cost-competitive software solutions. Founded by Anay Shah and Ben Eidelson, the fund has already backed 13 startups and plans 30 investments, supported by over 100 investors including Bain Capital Ventures and tech leaders from major companies.
Seattle VC Firm Ascend Raises Third Fund to Back Early-Stage AI Startups After $25M Second Fund in 2023
Seattle venture capital firm Ascend is raising its third fund to invest in early-stage tech startups focused on vertical AI and infrastructure, following a $25 million second fund in 2023. Founder Kirby Winfield launched Ascend in 2019 and the firm primarily supports Seattle-area founders with investments ranging from $250,000 to $750,000.
VCs Urge Startups to Focus Long-Term Despite $3 Trillion Market Loss from Trump’s Tariff Announcement
Venture capitalists advise startups to maintain a long-term focus despite uncertainty caused by President Trump’s new tariffs, which triggered a $3 trillion market value loss. While tariffs pose short-term challenges for hardware and manufacturing startups, many emphasize resilience and product-centric growth strategies.
Agility Robotics Seeks $400 Million Funding at $1.75 Billion Valuation to Advance Digit Warehouse Robots
Agility Robotics is reportedly raising $400 million at a $1.75 billion valuation to fund its Digit humanoid warehouse robots, with lead investor WP Global and participation from SoftBank. The company recently announced new improvements to Digit's capabilities and continues pilot testing with Amazon, a previous investor.
Icertis Raises $50M from B Capital to Reduce Debt, Reports $300M Annual Recurring Revenue in 2024
Icertis, a Bellevue-based contract management software company, raised $50 million from existing investor B Capital to pay down debt, marking over $500 million raised since its 2009 founding. Valued at $5 billion in 2021, Icertis reported $300 million in annual recurring revenue in 2024 and has been expanding its AI product offerings.
Seattle Startup Homeostasis Raises $1.3M to Convert Atmospheric CO₂ into Graphite for Industrial Use
Seattle-area startup Homeostasis raised $600,000 in pre-seed funding and $700,000 from Washington's Climate Commitment Act to develop technology that captures atmospheric CO₂ and converts it into graphite, a critical mineral used in batteries and defense. The company plans pilot deployments by 2026, aiming to provide carbon removal systems to industrial customers and eventually operate its own carbon-removal production facilities.
Rad Power Bikes Names Kathi Lentzsch, Former Bartell Drugs CEO, as New CEO Amid Strategic Retail Shift
Seattle-based e-bike company Rad Power Bikes appointed Kathi Lentzsch, former CEO of Bartell Drugs, as its new CEO amid a strategic shift to retail-focused operations and recent layoffs. Lentzsch replaces Phil Molyneux, who led the company for over two years during a period marked by lawsuits and recalls.
Rad Power Bikes CEO Phil Molyneux Steps Down Amid Strategic Shift and Layoffs; CFO Stephanie Roberts Named Interim CEO
Phil Molyneux has stepped down as CEO of Rad Power Bikes after more than two years, with CFO Stephanie Roberts serving as interim CEO during the leadership transition. The Seattle-based e-bike company is undergoing a strategic shift toward physical retail, resulting in additional layoffs and operational changes.
