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
GeekWire 200 update: Remitly No. 3 as proposed IPO looms; Hootsuite debuts No. 6, Convoy rises to No. 7
GeekWire updated its GeekWire 200 list highlighting Pacific Northwest private tech startups amid record investment and M&A activity, with trends toward virtual experiences, at-home healthcare, remote education, and e-commerce. Notable rankings: Remitly at No. 3 (last valued $1.5B, proposed IPO), Hootsuite debuted at No. 6, Convoy rose to No. 7 (valued $2.75B in 2019), and Fabric jumped 26 spots to No. 95.
Flyhomes raises $150 million to scale cash-offer homebuying and mortgage services nationwide
Seattle startup Flyhomes raised $150 million to expand its cash-offer homebuying model and integrated mortgage and selling services nationwide, positioning itself against iBuyers and Zillow. CEO Tushar Garg said the funding supports building an end-to-end home-buying experience that gives clients a competitive edge in a chaotic market.
Twilio acquires Seattle business-texting startup Zipwhip for $850M in cash-and-stock deal
Twilio is acquiring Seattle business-texting startup Zipwhip for about $850 million in a cash-and-stock deal, a transaction that closed on July 14. Zipwhip, founded in 2007, pivoted to enable businesses to send and receive texts from landlines and toll-free numbers, and Twilio says the acquisition advances their shared vision for business messaging.
Seattle-area startups raise record $1.64B in Q1 as U.S. VC funding jumps to $69B, PitchBook/NVCA say
PitchBook and NVCA report U.S. VC activity surged in Q1 2021 to $69 billion across 3,987 deals, while Seattle-area startups raised a Q1 record $1.64 billion across 88 deals, up from $616 million a year earlier. Mega-deals, fundraises, exits and SPAC activity all hit notable highs, and industry leaders say ample dry powder and economic recovery are driving larger investments.
Amgen to buy Seattle startup Rodeo Therapeutics for $55M upfront, up to $666M more in milestones
Amgen agreed to acquire Seattle biotech Rodeo Therapeutics, which develops small-molecule therapies to repair and regrow tissues, for $55 million upfront plus up to $666 million in contingent payments. Rodeo, led by CEO Thong Le and founded by Sanford Markowitz, Stanton Gerson and Joseph Ready, has backing from investors including AbbVie, Lilly, Arch Venture Partners and Johnson & Johnson and had raised over $14 million.
U.S. Venture Capital Tops $150B in 2020; Pacific Northwest Raises $4.4B as VC Appetite for Disruption Persists
Despite the pandemic and economic recession, U.S. venture capital investment hit a record above $150 billion in 2020, with the Pacific Northwest raising $4.4 billion (up 15% year-over-year). GeekWire’s John Cook interviews Seattle tech veteran Mike Davidson, who characterizes venture capital as attracted to disruption and offers analysis on why investment climbed.
U.S. Startups Raised Record $156.2B in 2020; Pacific Northwest Logged $946M in Q4 Across 54 Deals
U.S. startups set a new annual VC funding record in 2020 with $156.2 billion raised, driven by digital acceleration during the pandemic and a surge in mega-deals; Q4 saw $946 million invested across 54 Pacific Northwest deals. VC fundraises also hit records and IPO activity boosted exit values, suggesting continued momentum into 2021 as investors hold dry powder.
FlowPlay buys out investors to become fully employee- and founder-owned after 50% revenue spike in 2020
Seattle social-game developer FlowPlay repurchased investor shares to become fully employee- and founder-owned after seeing revenue rise 50% during 2020; the 14-year-old company has 75 million registered users and plans a new title in 2021.
Seattle Reaches 10 Unicorns Worth $1B+, Mostly Enterprise Software Firms with Microsoft Links
Seattle now has 10 unicorn startups valued at $1 billion or more, many concentrated in enterprise software/cloud computing and driven by rapid digital transformation and strong revenue run rates. Most have immigrant founders and Microsoft ties, but none have female co-founders or CEOs.
2048 Ventures Hires Seattle Investor Minda Brusse to Lead Pre-Seed Sourcing in Seattle and Portland
NYC-based 2048 Ventures has hired Seattle investor Minda Brusse as a venture partner to source pre-seed investments in Seattle and Portland while she remains at First Row Partners; 2048 launched last year with a $27 million fund and has backed 29 companies.
Foursquare CEO David Shim to Resign; Gary Little Named CEO in 2021; Other Tech Leadership Moves Reported
Foursquare CEO David Shim, founder of Placed, is resigning and will be succeeded by board member Gary Little in 2021 after a transition; Shim plans to return to entrepreneurship. Other moves: investor Karan Mehandru left Trinity Ventures to join Steadfast Financial while remaining on several boards, 343 Industries’ Chris Lee stepped down from Halo Infinite project direction, and WTIA hired Molly Jones as VP of government affairs.
GeekWire: Pacific NW startups raise big rounds — Vacasa $108M, Remitly $85M, Auth0 $120M, OfferUp $120M, Outreach $50M; Qumulo hits $1B
Pacific Northwest privately-held tech startups raised large funding rounds and increased valuations during the 2020 economic crisis, with several firms hitting or exceeding $1 billion valuations and total H1 2020 investment of $2.3 billion across 135 deals.
Ignition Partners investors spin out Fuse Venture Partners led by Kellan Carter, Cameron Borumand and Seahawks star Bobby Wagner
A group of investors from Seattle VC firm Ignition Partners, including managing partner John Connors, have launched a spinoff called Fuse Venture Partners led by general partners Kellan Carter and Cameron Borumand and featuring Seahawks linebacker Bobby Wagner as a venture partner. Ignite will sunset its brand while Fuse focuses on doubling down in Seattle and managing new investments, with Wagner committing to active involvement.
Accolade prices IPO at $22, raises $220M and debuts on Nasdaq at $1.2B valuation as shares jump 40%
Health benefits platform Accolade priced its IPO at $22 per share, raising $220 million and debuting on Nasdaq with a $1.2 billion valuation; shares rose over 40% to $30.90 in early trading. The Seattle- and Philadelphia-based company, led by CEO Raj Singh, serves employers with a subscription model and reported $132.5 million revenue for fiscal 2020, with four customers contributing 59% of that revenue.
Roche acquires Seattle startup Stratos Genomics, home of Sequencing By Expansion, to form Roche Diagnostics Seattle
Roche has acquired Seattle DNA sequencing startup Stratos Genomics, maker of Sequencing By Expansion (SBX) technology; Stratos will operate as Roche Diagnostics Seattle with its 60 employees joining Roche. Financial terms were not disclosed; Stratos had raised over $60 million previously and Roche was an early investor.
U.S. VC Funding Falls 46% in April to $7.3B; Washington State Raises $190M in 21 Deals Led by Health and Biotech
U.S. venture capital investment plunged in April — down 46% from March to $7.3 billion and 43% year-over-year — while Washington state fared better with $190 million across 21 deals, helped by health and life-sciences financings.
U.S. VC Investments Total $34.2B in Q1 2020 as COVID-19 Threatens Decade-Long Growth
U.S. venture capitalists invested $34.2 billion across 2,298 deals in Q1 2020, slightly down from the prior year, but analysts expect investment pace and valuations to slow as COVID-19 disrupts the startup ecosystem and deal pipelines.
Zscaler to acquire Cloudneeti, 3-year-old Redmond cloud governance startup with ~30 employees
Zscaler is acquiring Cloudneeti, a three-year-old Redmond cloud security startup with about 30 employees that offers a digital governance platform for automated cloud data monitoring; Cloudneeti raised $500,000 and its team will join Zscaler.
OfferUp Raises $120M, Acquires Letgo; OLX Group to Own 40% of Combined Entity
OfferUp raised $120 million and agreed to acquire rival app Letgo, creating a combined U.S. marketplace with over 20 million monthly active users; OLX Group led the round and will own 40% of the merged company. OfferUp CEO Nick Huzar will lead the combined business, while Letgo's non‑North American operations will remain with OLX.
Apptio CEO Sunny Gupta to receive $196 million as Vista Equity closes $1.94B take-private at $38 per share
Apptio CEO and co-founder Sunny Gupta stood to receive about $196 million after Vista Equity Partners completed a $1.94 billion buyout at $38 per share, a 53% premium over Apptio's market price.
GeekWire 200 November Update: DocuSign Tops as Textio Rises 23 Spots and Morningstar Acquires PitchBook for $180M
The November update of the GeekWire 200 highlights Pacific Northwest startups leveraging recent large funding rounds to expand products and staff, with DocuSign leading the list. Notable moves include Textio jumping 23 spots to number 176 and Avvo advancing into the seventh spot, while PitchBook was acquired by Morningstar for $180 million.
