Facts
- HQ
- Menlo Park, CA, US
- Sectors
- Venture Capital and Private Equity Principals
- Founded
- 2019
- Employees
- 34
Global Fusion Investment Hits Record $4.48 Billion, Four Startups Capture Majority Including $3.85B for Commonwealth Fusion Systems
Global fusion investment reached a record $4.48 billion last year, up 69%, with four startups—Commonwealth Fusion Systems, Helion Energy, Proxima Fusion, and Inertia Enterprises—capturing over half the funding. Commonwealth Fusion Systems leads with a $3.85 billion round, while Helion and Proxima have notable partnerships and distinct fusion approaches.
Fusion Startups Have Raised $7.1 Billion, Led by Commonwealth Fusion Systems’ $863M Round
Fusion startups have collectively raised $7.1 billion, with Commonwealth Fusion Systems accounting for about one-third of this private investment. Advances in computing, AI, and superconducting magnets, along with key scientific milestones, are driving rapid progress toward commercially viable fusion power.
Seattle Startup QA Wolf Raises $36M Series B Led by Scale to Expand Mobile Testing
Seattle startup QA Wolf raised $36 million in a Series B round led by Scale Venture Partners to expand its software testing capabilities into native mobile apps. Founded in 2019, QA Wolf automates quality assurance for web and mobile applications and has 130 employees.
Bay Area Climate Tech Startup Planette Raises $2.4M to Deliver AI-Driven Near-Term Weather Forecasts
Planette, a Bay Area climate tech startup specializing in near-term AI-driven climate forecasts, has raised $2.4 million after graduating from Techstars Seattle. Led by climate and AI experts Dr. Hansi Singh and Dr. Kalai Ramea, Planette targets energy and utility sectors with high-resolution seasonal weather predictions.
Techstars Seattle Demo Day 2024 Unveils 24 Startups Poised to Rival 2011 Unicorn Trio Including Discoverist and TalkStack AI
The 2024 Techstars Seattle Demo Day showcased 24 startups, with experts optimistic that this cohort could rival the successful 2011 group that included three billion-dollar companies. Notable startups like Discoverist and TalkStack AI are leveraging AI for personalized retail recommendations and conversation analysis, respectively.
Flyhomes Acquires Seattle’s Loftium to Expand Host-to-Own Real Estate Services
Flyhomes has acquired Seattle-based host-to-own real estate platform Loftium, expanding its home-buying services while retaining Loftium’s team and operations amid a challenging market. Loftium’s unique model enables buyers to use rental income from Airbnb hosting to finance down payments, a program launched a year ago.
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.
Remitly prices IPO at $43, values company near $7B and raises $300M+ as shares debut on NASDAQ
Remitly, a 10-year-old mobile remittance company, priced its IPO at $43 per share valuing the firm near $7 billion and raised over $300 million in net proceeds as it began trading on NASDAQ; shares opened at $53 and closed at $48.45 on debut. CEO Matt Oppenheimer framed the IPO as a step in the company’s mission to simplify cross-border money transfers for immigrants and their families.
Xealth, a Providence Spinout, Raises $24M to Expand Digital Health Platform and Workforce
Seattle-based Xealth, a Providence spinout that helps more than 20 hospital systems prescribe and monitor digital health tools, raised $24 million in new funding to expand its platform and double its 55-person workforce. The company integrates with major electronic health records, licenses its platform to hospital systems, and has onboarded services from over 50 digital health vendors.
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.
Opendoor acquires Seattle’s Pro.com and San Francisco’s Skylight, will shut both platforms
Opendoor acquired Seattle-based Pro.com and San Francisco-based Skylight, will discontinue both companies' consumer platforms and integrate their teams and technology into Opendoor’s roadmap; deal terms were not disclosed. The moves give Opendoor a Seattle presence and add home-improvement talent as the iBuyer expands amid increased digital homebuying adoption.
Remitly files S-1 ahead of IPO after 2020 revenue doubles to $257M and $1.5B valuation
Remitly filed an S-1 ahead of a conventional IPO, reporting $257M revenue and a $32.5M net loss for 2020 and $202M revenue with a $9.2M loss in H1 of the current year, with a $1.5B valuation from a July funding round and roughly $16.1B in trailing 12-month send volume.
Acumen announces patient-capital impact investing since 2001 to address poverty by strengthening companies and local markets
Acumen, founded in 2001, is an impact investing organization that provides patient capital to early-stage companies focused on alleviating poverty by understanding root causes and strengthening local markets. Unlike traditional venture capital, Acumen prioritizes measurable social outcomes alongside long-term financial support to build lasting change in underserved communities.
Remitly raises $85M, reaches $1.5B valuation as digital remittance demand spikes during COVID-19
Remitly, a Seattle-based digital remittance platform, raised $85 million in new funding, valuing the company at $1.5 billion as customer growth surged amid the COVID-19 pandemic.
Observa raises $725,000 from Paul Mikesell, Bill Bryant and Drew Bradley to scale AI retail-audit platform
Seattle startup Observa, which uses AI and crowd-sourced retail audits to track product displays and link them to in-store sales, closed a $725,000 financing round from notable investors and reported four-fold revenue growth and 23% average customer sales gains. The five-year-old company has 20 employees, has raised over $2 million to date, and counts investors including Paul Mikesell, Bill Bryant and Drew Bradley.
Remitly reports 100% customer growth and 40% transaction-volume increase from Feb–Mar as COVID-19 drives digital remittances
Seattle remittance startup Remitly experienced rapid growth during the COVID-19 pandemic, with customer numbers up 100% and transaction volume up 40% from February to March, as users shifted to digital transfers while physical providers closed. CEO Matt Oppenheimer said the crisis accelerated the company’s mission to provide safe, mobile cross-border payments for immigrants supporting families abroad.
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Bill Bryant General Partner
