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 and Pacific Northwest VC Investments Rise 18% to $2.2B in Q2 2023 Despite 23% National Decline
U.S. venture capital investments fell 23% to $62 billion in Q2 2023, marking the largest drop since 2019. In contrast, Seattle and the Pacific Northwest saw an 18% investment increase to $2.2 billion, driven by several large deals above $100 million.
Seattle-Area Startups Raise $1.5 Billion in Q1 2022 Amid U.S. VC Funding Slowdown from $95.4B Q4 2021
Seattle-area startups raised $1.5 billion in Q1 2022 across 112 deals, down from $2.7 billion in Q4 2021 but still higher than Q1 2021, amid a broader U.S. venture capital slowdown driven by inflation, interest rates, and geopolitical uncertainty. Despite lower funding levels, the venture capital market is experiencing a healthy recalibration with strong business models and significant dry powder available to support startups.
Swiftly raises $100M Series B to help grocers including Family Dollar and The Save Mart compete with Amazon
Seattle startup Swiftly raised $100 million in a Series B to provide grocers like Family Dollar and The Save Mart Companies with apps and software that speed in-store shopping, enable mobile checkout, schedule deliveries, and sell advertising across about 10,000 store locations.
Seattle startups push into crypto, blockchain and Web3 amid investor caution and regulatory shifts
The article lists Seattle startups building products and services around crypto, blockchain, and Web3, noting the region’s talent but limited local investor interest and regulatory uncertainty. Industry leaders cite Seattle’s potential as a cloud-computing hub while warning entrepreneurs face funding disadvantages compared with other jurisdictions.
Former Amperity CEO Kabir Shahani Resigned From CEO Role and Board Last Week, Says He Left Voluntarily
Kabir Shahani unexpectedly resigned as CEO of Seattle marketing tech startup Amperity last week and has also left the company’s board; he told GeekWire he left voluntarily for personal reasons while Amperity executives have not publicly commented.
Betterment to acquire Seattle crypto robo-advisor Makara, joining crypto investing to its $32B platform
Betterment agreed to acquire Seattle crypto robo-advisor Makara, which launched in May 2021 and offers thematic crypto baskets; Betterment manages $32 billion for nearly 700,000 clients. Makara spun out of Strix Leviathan, was founded by Jesse Proudman and others, and raised about $3 million in seed funding while pursuing a Series A.
Brightcove acquires Seattle video-audience startup Wicket Labs; all 13 employees join
Brightcove has acquired Seattle-based Wicket Labs, a 13-person startup founded in 2016 that provides audience insights and a 'Wicket Scorecard' for streaming video; terms were not disclosed and Wicket raised about $7 million from investors including WestRiver, Madrona, and Divergent.
Unlock Venture Partners raises $60M second fund to back Seattle and L.A. startups, bringing total raised to $85M
Unlock Venture Partners, a seed-stage firm focused on Seattle and Los Angeles startups, raised a $60 million second fund and has now raised more than $85 million total to back early-stage companies including gaming, Web3 and metaverse plays.
Vulcan Capital renamed Cercano Management and spun off as independent firm managing Allen-era assets
Vulcan Capital, the investment arm created to manage late Microsoft co-founder Paul Allen’s holdings, has been spun off and renamed Cercano Management, a privately held firm working with multiple investors and family foundations. Cercano, based in Bellevue, will remain connected to Allen’s estate, continues Vulcan’s low-profile approach, and was recently disclosed as an investor in a $5.9 million round for Seattle startup Pendulum.
U.S. VC Hits $330B in 2021; Washington State Pulls $8.5B Across 549 Deals, 9 New Seattle Unicorns
Venture capital hit record highs in the U.S. in 2021 with $330 billion across 17,054 deals, and Washington state saw $8.5 billion invested in 549 deals (a 77% increase over 2020), driven in part by newly minted unicorns in the Seattle area.
GeekWire updates Seattle list as Highspot raises $248M at $3.5B; SeekOut and Icertis added to 16 local unicorns
GeekWire updated its list of Seattle-area 'unicorn' startups (privately held companies valued at $1B+) after additions and a valuation change for Icertis, noting recent entrants like SeekOut and Highspot, which raised $248 million at a $3.5 billion valuation. The article highlights that the Seattle cohort includes 16 unicorns, none led by a female or Black CEO, and that many CEOs have Microsoft backgrounds amid a global surge in unicorns and venture funding.
Modern Electron files for $30M raise to scale heat-to-electricity converters, led by CEO Tony Pan and CTO Max Mankin
Modern Electron, an Intellectual Ventures spinoff, is raising $30 million per an SEC filing to commercialize its heat-to-electricity converters that capture wasted heat from furnaces, hot water tanks and industrial sources. The Bothell, Washington startup previously raised about $40 million including backing tied to Bill Gates, and is led by co-founders CEO Tony Pan and CTO Max Mankin.
Wind Creek Hospitality acquires Seattle social-games developer FlowPlay; terms undisclosed
Seattle social-games developer FlowPlay, maker of Vegas World and Casino World with more than 75 million registered users, has been acquired by Wind Creek Hospitality; terms were not disclosed. Wind Creek — which runs 10 casinos and WindCreekCasino.com for the Poarch Band of Creek Indians — plans to keep FlowPlay in Seattle under CEO Derrick Morton, retaining its brand and staff.
Madrona Venture Group raises $120M Fund VII Extension to support 10–12 portfolio companies from its 2018 $300M fund
Madrona Venture Group has raised a $120 million Fund VII Extension Fund from prior investors to provide follow-on capital for 10–12 companies from its 2018 $300 million Fund VII, responding to larger, faster rounds in today’s frothy venture market.
Amazon’s $2B Climate Pledge Fund Invests in Hippo Harvest and Amogy to Cut Grocery and Shipping Emissions
Amazon’s $2 billion Climate Pledge Fund has invested in two climate tech startups — Hippo Harvest, which develops closed-loop greenhouse systems using robotics and ML to cut water use and emissions, and Amogy, which converts ammonia into power for heavy transport — part of Amazon’s push to reach net zero by 2040. The moves aim to reduce emissions across Amazon’s grocery stores and shipping operations amid rising company emissions.
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.
Four High School Interns Analyze GeekWire 200 Rankings with UW Bothell Dean via SparkSIP
Four high school students worked with UW Bothell Business Dean Sandeep Krishnamurthy through the SparkSIP program to analyze the GeekWire 200 startup rankings over a summer, using the April update, past lists and public data. They aimed to apply data analysis to understand factors behind successful Pacific Northwest startups and gain entrepreneurial and regional startup insights.
Remitly files to raise up to $332.6M in IPO at roughly $6.5B valuation with $38–$42 price range
Remitly set IPO terms expecting to raise $284.6 million (up to $332.6 million with overallotment) at $38–$42 a share, valuing the Seattle fintech about $6.5 billion. The company reported $202M revenue and a $9.2M net loss in the first half of the year and competes with firms like Wise and Zepz.
Investors Pour Billions into Climate Tech as E8 Expands and Sector Raises $14.2B by Midyear
A wide range of investors — from tech employees to former VCs and concerned parents — are increasingly funding climate-tech startups, driving a sharp rise in capital flows after years of stagnation. By midyear, climate tech companies raised $14.2 billion globally, supported by growing networks like Seattle’s E8 and large climate-focused funds from private equity and venture firms.
Former Tech Leaders Join Biotech: Isilon Founder Sujal Patel, Ex-Microsoft Terry Myerson and Others Lead AI-Driven Life Sciences Startups
Several former software and tech executives are moving into biotech and life sciences startups, bringing AI, machine learning, and tech-style business models to companies that analyze proteins, microbes, and medical records. Their tech backgrounds are reshaping product development and funding approaches at firms such as Nautilus Biotechnology, Truveta, insitro and Viome.
98point6 co-founder Robbie Cape abruptly exits as CEO; chairman Jeff Greenstein named interim leader
98point6 co-founder and CEO Robbie Cape has abruptly left the virtual primary care company he helped start in 2015, with chairman and co-founder Jeff Greenstein named interim CEO while the board searches for a replacement. The 350-person startup, which raised a $118 million Series E in October, said the C-suite will continue leading operations and praised Cape’s six years of leadership.
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.
Seattle startups raise record $3.1B in H1 2021, producing 12 local unicorns as Auth0 exits for $6.5B
Seattle-area startups raised a record $3.1 billion across 205 deals in H1 2021, driven by mega-rounds that produced at least 12 local unicorns and broader Pacific Northwest tech funding topping $5 billion. National VC activity and IPO/M&A dollar volumes are also surpassing prior records, with major exits like Auth0’s $6.5 billion acquisition by Okta highlighting regional maturation.
ZoomInfo to Buy Chorus.ai for $575M Cash, Adds Conversation-Analysis AI; Jim Benton to Become SVP
ZoomInfo will acquire conversation intelligence startup Chorus.ai for $575 million in cash, adding AI-driven analysis of calls, meetings and emails to its sales and marketing data platform. The deal expands ZoomInfo’s addressable market to $70 billion, values the company at about $21 billion, and names Chorus CEO Jim Benton as SVP of emerging products.
Updater acquires Seattle on-demand moving startup Dolly; terms undisclosed
New York moving services company Updater has acquired Seattle on-demand moving startup Dolly; terms were not disclosed and Dolly will operate as an Updater subsidiary with its Seattle team retained.
