The Riveter
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- Coworking, Community
Seattle Opens AI House and Foundations Startup Hubs Amid Growing AI Ecosystem
Seattle launched two new startup hubs, AI House and Foundations, to support its growing AI ecosystem, hosting events with notable figures like venture capitalist Vinod Khosla and Mayor Bruce Harrell. These hubs aim to foster collaboration and growth within Seattle's burgeoning AI startup community.
Aviel Ginzburg Launches Seattle Foundations to Support Tech Startups with Non-Equity Accelerator in Capitol Hill
Aviel Ginzburg and a team of entrepreneurs are launching Seattle Foundations, a new invite-only entrepreneurial community and shared workspace in Seattle, aiming to support tech founders with mentorship and resources without taking equity. The initiative, set to open later this year in Capitol Hill, will offer co-working space, events, and six-month memberships focused on startup acceleration.
Ada Developers Academy Cuts 45% Staff, Pauses Admissions, Names Shawna Young Interim CEO Amid Tech Industry Downturn
Seattle-based nonprofit Ada Developers Academy, which provides tuition-free tech training for underrepresented groups, has significantly reduced its workforce and paused admissions amid economic challenges. Shawna Young has been named interim CEO following Lauren Sato's resignation, as the organization refocuses on sustainability.
Ada Developers Academy Cuts 45% of Staff Amid Tech Hiring Slowdown, Slows Expansion Despite $10M Grant
Ada Developers Academy laid off 45% of its staff, about 34 employees, due to a tech industry hiring slowdown and fewer internship opportunities for students, impacting its mission to diversify tech. The Seattle-based nonprofit also plans to reduce student enrollment and halt expansion efforts initially funded by a $10 million grant from the Equality Can’t Wait challenge.
Flexe hires Amazon biometrics lead Lara Rogers as SVP/GM; Magnify names ex‑Amazon Sajo Jacob CTO; Schuster joins Open Systems board
Several Seattle-area tech companies announced senior hires and board moves: Flexe hired former Amazon biometrics leader Lara Rogers as SVP and GM; Magnify named Sajo Jacob as CTO and co‑founder after a $6M launch; Open Systems added ex‑Microsoft exec Gavriella Schuster to its board; Fabric and Scener also announced senior appointments.
Sally Jewell named Edward V. Fritzky chair at UW Foster; Riveter CEO Amy Nelson relocates to Columbus; other exec moves
A roundup of leadership moves: former Interior Secretary Sally Jewell will be the Edward V. Fritzky endowed chair at UW Foster School for 2021–22; Riveter CEO Amy Nelson is relocating to Columbus but will remain with the company; and several other executives (including Jeff Blackburn, Randy Tinseth, and Vinayak Hegde) are taking new roles or joining boards.
Madrona pauses Create33 co-working space, shifts to free virtual membership after COVID-19 forces closure
Madrona’s Create33, a Seattle founder center launched in July 2018, has closed its co-working space and is converting to a free virtual membership program after pandemic-related event cancellations and lost rental revenue; key staff including executive director Rebecca Lovell have departed.
SBA Reveals Seattle Tech Startups Received Millions in PPP Loans Including ExtraHop’s $10M and Rover’s $8.1M
The Small Business Administration released detailed data on Paycheck Protection Program loans, revealing Seattle-area tech startups like ExtraHop and Rover received between $5.4 million and $10 million to support payroll during the COVID-19 crisis. The PPP distributed $525 billion across over 5 million loans before ending in August amid issues with loan forgiveness and fraud.
WestRiver Group Sells Debt Investment Business to SVB Financial Group; Erik Anderson Named Executive Chairman of New SVB Capital Credit Platform
Seattle-based WestRiver Group agreed to sell its debt investment business to SVB Financial Group to form the SVB Capital Credit Platform, with WestRiver CEO Erik Anderson joining SVB as executive chairman; terms were not disclosed. WestRiver manages about $2 billion AUM and holds investments including Singularity University and several Seattle startups.
WestRiver Group CEO Erik Anderson and Riverstone launch Decarbonization Plus Acquisition SPAC, raising $200M to pursue global decarbonization targets
WestRiver Group CEO Erik Anderson and asset manager Riverstone launched Decarbonization Plus Acquisition, a SPAC that raised $200 million to target companies advancing global decarbonization across energy, agriculture, industrials, transportation and commercial/residential sectors.
SBA data: Seattle startups Rover, ExtraHop, Porch, Promethean and Logic20/20 each received $5–$10M in PPP loans
The SBA released Paycheck Protection Program data showing several Seattle-area tech startups received $5–$10 million PPP loans to help during COVID-19; recipients include Rover, ExtraHop, Porch, Promethean and Logic20/20. The program has seen controversy over eligibility and forgiveness guidance, and some venture-backed startups declined loans on ethical grounds.
Pro.com lays off 52 employees as COVID-19 halts construction; CEO Matt Williams confirms WARN filing
Seattle-based Pro.com laid off 52 employees after COVID-19 halted its construction work, and the company is resuming jobs with new safety and contact-tracing measures. CEO Matt Williams said the cuts were disclosed in a Washington WARN filing and affect a company that employs about 150 people on LinkedIn.
Madrona Venture Labs launches Founders Unite to connect startup founders with veteran execs through AMAs during pandemic
Seattle-based Madrona Venture Labs launched Founders Unite, a community and AMA series connecting startup founders with veteran tech leaders for advice and peer support during the pandemic. MVL — which raised $11 million for its third fund last year and has launched around ten companies — organized the initiative after polling 100+ founders about what they value most.
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.
GeekWire Calendar: Online events March 31–April 1 — Zoom etiquette, women investors panel, founding-team advice, COVID‑19 relief briefing
GeekWire lists several online events for March 31–April 1 including a Zoom etiquette session, panels on women investors and founding teams, a briefing on the ~$2 trillion COVID-19 relief package, and a Female Founders Alliance workshop on resilience.
Founders’ Co-op marks 10 years after launching in 2008 with $2.7M, raised $7.7M fund and brought Techstars to Seattle
Founders’ Co-op reflects on its first decade after launching in early 2008 with a $2.7M seed fund, helping regional startups through investments and by bringing Techstars to Seattle in 2010 while raising a second $7.7M fund.
LIVE: Community + the future of work
Coworking! Accelerators! Virtual offices! The nature of work -- and of workplaces -- is changing in the startup world and beyond, and so are the communities built around those workplaces. Join GeekWire Co-founders John Cook and Todd Bishop for a conversation with The Riveter Founder and CEO Amy Nelson and ImpactHub Seattle leader Sarah Studer about the future of work and the communities around it. We'll also run down some of the biggest news stories of the week. See omnystudio.com/listener for privacy information.
