Vulcan Capital
Raiders RB Ashton Jeanty invests in Nukleus and becomes public face of athlete advisory platform
Nukleus, a startup creating a shared operating system for athletes and their advisors, has signed Las Vegas Raiders running back Ashton Jeanty as an investor and public spokesperson. The Issaquah-based company’s backers also include Microsoft finance EVP Mat McBride, WaFd Bank CEO Brent Beardall, former Vulcan Capital investor Skyler Nelson, and Dr. Brett Kindle, and it operates with a core team of 12 plus engineering support in India.
Echodyne Opens $40 Million, 86,350-Square-Foot Radar Manufacturing Plant in Woodinville
Radar company Echodyne opened an 86,350-square-foot manufacturing plant in Woodinville with a $40 million investment, aiming to employ 200 people within two years. The company plans to produce over 30,000 radars annually as it expands its position as a global leader in the industry.
Seattle Startup Picnic Shuts Down, Sells $50M Pizza Robot Assets to Undisclosed Buyer in May 2024
Seattle-based food automation startup Picnic, which raised about $50 million to develop pizza-making robots, has shut down and liquidated its assets after becoming insolvent. Its assets and intellectual property were sold to an undisclosed buyer in May 2024 through a liquidation process overseen by CMBG Advisors.
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.
Nautilus Biotechnology Lays Off 16% of Staff, Postpones Proteome Platform Launch to Late 2026
Nautilus Biotechnology laid off 16% of its workforce to extend its cash runway into 2027 and delayed the commercial release of its proteome analysis platform until late 2026. The company aims to control operating expenses and maximize its impact on biological science, focusing on proteomics to advance drug development.
Rad Power Bikes Executes Fourth Round of Layoffs Since April 2021 Amid Economic and Legal Challenges
Rad Power Bikes has laid off employees for the fourth time since April 2021, reducing its workforce amid economic challenges and legal issues. The Seattle-based e-bike company now has around 400 employees and is working to become more sustainable under new leadership.
KKR-Backed Alchemer Acquires Seattle Startup Apptentive to Expand Mobile Feedback Tools
Alchemer, backed by private equity firm KKR, acquired Seattle-based Apptentive to integrate mobile customer feedback capabilities into its survey platform. Apptentive CEO Robi Ganguly will join Alchemer's executive team while most Apptentive employees transition to Alchemer.
Rad Power Bikes Conducts Third Layoff in 2023 Amid Economic Downturn and Operational Challenges
Rad Power Bikes is conducting its third round of layoffs in 2023 to reduce costs amid an economic downturn, having previously cut 163 jobs this year from its nearly 500 employees. The Seattle-based company has faced multiple challenges including lawsuits and product recalls, while also recently launching a new three-wheeled electric bike.
Rad Power Bikes CEO Mike Radenbaugh Steps Down, Phil Molyneux Named Successor Amid Company Challenges
Rad Power Bikes CEO Mike Radenbaugh is stepping down and will be replaced by Phil Molyneux, former Sony Electronics president, while Radenbaugh stays on as chairman. The company, valued at $1.65 billion in 2021 and having raised $304 million last year, has faced layoffs, lawsuits, and a large product recall recently.
Echodyne Secures $135M Funding Led by Bill Gates and Baillie Gifford to Expand Next-Gen Radar Production
Echodyne, a radar technology company backed by Bill Gates and Baillie Gifford, secured $135 million in funding to expand production of its advanced radar systems used in drones, law enforcement, and infrastructure monitoring. The funding boosts its total investment to $195 million as it prepares to launch its next-generation radar with triple the range of its current product.
Fintech Startup Formations Raises $8M to Simplify Taxes for Freelancers with Focus on Realtors
Bellevue-based fintech startup Formations raised $8 million to simplify tax and paperwork processes for self-employed individuals, initially targeting realtors. The company has served about 700 customers with average savings of $8,000 each and recently partnered with Gusto to expand its services.
Kevala raises $12.1M to help long-term care providers fill shifts and manage compliance
Seattle-based Kevala raised $12.1 million to expand its software platform that helps long-term care and senior living facilities schedule staff, manage compliance, and access temporary nurses and caregivers across five states. The company has grown from five to 20 corporate employees since January 2021 and serves hundreds of healthcare facilities, offering a pool of more than 1,000 registered and licensed caregivers.
Videon raises $9M from Seattle investors Voyager Capital, Cercano Management and Forston VC after $7.3M July round
Videon, a live-streaming video infrastructure startup led by CEO Tricia Iboshi, raised $9 million in new funding from Seattle investors including Voyager Capital, Cercano Management, and Forston VC, following a separate $7.3 million round in July; the company serves customers in 19 countries from its State College, Pa. base.
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.
NetBase Quid acquires Seattle social analytics startup Rival IQ; Rival IQ to remain independent
Santa Clara-based NetBase Quid has acquired Seattle social media analytics startup Rival IQ, which serves nearly 700 customers and will continue operating independently.
Rad Power Bikes raises $154M after $150M earlier in 2021 to expand retail, service network and operations
Rad Power Bikes raised $154 million in a new financing round after a $150 million infusion in February to expand its e-bike business, grow retail/service locations, and scale operations amid rising demand. The Seattle-based company, with more than 350,000 riders and 625 employees, plans to triple physical locations and speed deliveries to one-week fulfillment in North America.
Microsoft acquires Seattle OKR startup Ally to integrate into Microsoft Viva; terms undisclosed
Microsoft has acquired Seattle-based OKR startup Ally, founded three years ago, to integrate its goal-tracking capabilities into Microsoft Viva and other products; financial terms were not disclosed.
Bridgestone leads investment in Wrench, to integrate mobile mechanic platform with 2,200+ Bridgestone Americas stores
Bridgestone led a new investment round in Seattle-based mobile car service Wrench and will partner to integrate Wrench’s mobile mechanics platform with Bridgestone Americas’ network of over 2,200 service stores. Wrench, which operates in 40 metro areas with about 285 employees and has grown through acquisitions like Lemon Squad, Fiix and Octobots, declined to disclose the amount raised.
Booster Fuels launches public mobile gas service at three Seattle Safeway lots, first in Washington
Booster Fuels has begun offering mobile gasoline service to the general public at three Safeway parking lots in the Seattle area, marking the first consumer-facing deployment of its trucks in Washington state. Customers pay by smartphone while a Booster employee refuels vehicles, with prices tied to nearby station averages and no immediate expansion plans announced.
AdaptX (formerly MDMetrix) raises $6M Series A led by Vulcan Capital to expand AI-driven healthcare data platform
AdaptX, formerly MDMetrix, raised $6 million in a Series A led by Vulcan Capital to expand its AI-driven platform that extracts insights from electronic medical records to improve clinical, financial and equity outcomes. The Seattle startup, founded by anesthesiologist Dr. Dan Low, has raised over $11 million total, employs about 20 people, and will use proceeds for hiring and product development.
Nautilus Biotechnology (NAUT) goes public via SPAC, raises $345 million to commercialize proteome analysis
Nautilus Biotechnology, co-founded by Sujal Patel and Parag Mallick, is going public on Nasdaq as NAUT through a SPAC merger that raised $345 million to advance a new proteome analysis platform aimed at accelerating biomedical research and drug development. Institutional backers include Bezos Expeditions, Vulcan Capital and Madrona Venture Group, and the deal closes on the 25th anniversary of Patel’s arrival in Seattle.
Picnic raises $16.3M Series A to scale pizza-making robot as pandemic fuels demand for food automation
Seattle food-automation startup Picnic raised $16.3 million in Series A financing to scale its Picnic Pizza System, a pizza-assembly device that enables a single employee to produce up to 100 customized 12-inch pizzas per hour. The company says pandemic-driven demand for delivery, carry-out and high-volume food prep has accelerated interest in automation and it recently redesigned the system with improved interface, safety and food-handling features.
Echodyne’s tablet-sized radars enable autonomous AiRanger drone to complete 14.5-mile NASA pipeline test; Gates is an investor
NASA tests with an AiRanger drone and Echodyne’s compact flat‑panel radars demonstrated autonomous detect-and-avoid capability over a 14.5-mile pipeline inspection, showing the potential for drones to operate in crowded airspace. Echodyne, backed by investors including Bill Gates, says regulatory clarity from the FAA is needed before commercial deployment scales.
Ally raises $50M Series C led by Green Oaks, Tiger Global and Madrona as remote work fuels demand
Seattle startup Ally raised $50 million in a Series C led by Green Oaks Capital, Tiger Global and Madrona, bringing total funding to $76 million as remote work drove demand for its OKR goal-tracking software that tripled revenue in 2020.
Ozette, a Fred Hutch spinout incubated at AI2, raises $6M seed to scale AI immune-monitoring platform
Ozette, a Seattle biotech spun out of Fred Hutch and incubated at AI2, raised a $6 million seed round to scale its eight-person team and commercialize an AI-driven Immune Monitoring Platform that analyzes high-dimensional single-cell protein data, initially focused on cancer. The founders say the platform automates analysis of billions-to-trillions of protein-expression combinations and increases usable information from roughly 10% to 100% of study data.
