Puget Sound Business Journal
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- Last published Oct 8
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Seattle Venture Funding Reaches Record $3.5B in Q3 on Stoke Space $1B and Temporal $550M Series E Rounds
Seattle-area venture funding hit a quarterly record of $3.5 billion, driven largely by Stoke Space’s $1 billion Series E and Temporal’s $550 million Series E, even as IPO activity remained weak and investment concentration in AI grew.
Temporal acquires AI security startup Oso, adds 11 employees after $550M Series E at $12.6B valuation
Bellevue app development firm Temporal has acquired New York AI security startup Oso to bolster AI agent authorization capabilities, adding 11 of Oso’s 40 employees and expanding Temporal’s headcount after a $550 million Series E that valued the company at $12.6 billion.
Hubble Network raises $200M Series C at $1.6B valuation, seeks 50,000+ sq ft Seattle HQ to expand to 100 employees
Hubble Network raised $200 million at a $1.6 billion valuation and plans to expand its Seattle workforce from about 70 to 100 employees, consolidating offices and manufacturing into at least a 50,000 sq ft facility. The company operates a satellite-based Bluetooth tracking network with six satellites in low-Earth orbit to provide coverage where cellular service is limited.
Hubble Network raises $200M Series C at $1.6B valuation to scale satellite Bluetooth tracking to 60 sats by 2030
Seattle-based Hubble Network raised $200 million in a Series C at a $1.6 billion valuation to expand its satellite-based Bluetooth tracking network from six satellites toward a planned 60 by 2030 and pursue a first Nova Pathfinder rocket launch targeted for early 2027.
Truveta CEO Terry Myerson to Retire End of September; Co-founders Ryan Ahern and Jay Nanduri Named Interim Co-CEOs
Terry Myerson will retire as Truveta CEO at the end of September after leading the Bellevue-based health data company since its 2020 launch, and two co-founders will serve as interim co-CEOs while the board searches for a permanent successor. Truveta, valued at over $1 billion after a $320 million funding round in January 2025, stores and categorizes electronic health records for research and counts 30 health system members.
Temporal raises $550M Series E at $12.55B valuation; will open Atlanta and Bay Area offices while keeping Bellevue coworking HQ
Temporal raised $550 million in a Series E that valued the 3-year-old app development startup at $12.55 billion; it will open permanent offices in Atlanta and the Bay Area while keeping a coworking headquarters in Bellevue as it scales R&D and hiring.
Issaquah startup Nukleus secures investment from Raiders RB Ashton Jeanty as it scales athlete-business platform
Issaquah startup Nukleus, founded by Hector Rivas to help athletes and their business managers organize deals, announced an investment from Las Vegas Raiders running back Ashton Jeanty and currently has 12 employees with plans to grow.
Bellevue’s Temporal raises $550M Series E at $12.55B valuation, doubling since February
Bellevue app-development startup Temporal raised $550 million in a Series E at a $12.55 billion valuation, roughly doubling its worth since a February round and signaling investor focus on leading AI-related companies. Founded in 2019, Temporal employs about 375 people, counts more than 4,300 clients including OpenAI and Netflix, and offers tools to help developers build more reliable back-end and AI applications.
Stoke Space raises $1 billion Series E to fund Nova Block 2 and prep early‑2027 launches; total funding $2.3B
Kent-based reusable rocket startup Stoke Space raised $1 billion in a Series E round led by investors including Point72 Ventures and Spark Capital, bringing its total funding to $2.3 billion as it readies launches and develops its Nova Block 2 rocket for early 2027.
Cowboy Space signs 291,035-sq-ft Kent lease to build orbital AI data centers, adding ~300 jobs
Cowboy Space signed a 291,035-square-foot lease in Kent to build hardware for orbital AI data centers, marking the Puget Sound area's largest industrial lease of 2026 and expected to create about 300 jobs. The 2023-founded aerospace firm plans its first Nova Pathfinder rocket launch in early 2027 and has offices in San Carlos and Seattle.
Stoke Space raises $1 billion Series E, bringing total funding to $2.3B to fund Nova Block 2 and launches
Kent-based reusable-rocket startup Stoke Space raised $1 billion in a Series E round, bringing total funding to $2.3 billion to support upcoming launches and development of its Nova Block 2 rocket. The company is targeting early 2027 for the first orbital launch of its Nova Pathfinder vehicle and is expanding manufacturing and test facilities.
Highspot merges with Seismic in deal reported near $2.8B; combined company totals $600M revenue and keeps Seattle HQ
Sales software companies Highspot and San Diego-based Seismic completed a merger that combines about $600 million in annual revenue, will keep Highspot's Seattle Belltown office and brand as "Highspot by Seismic," and is expected to close in Q1 2027 in a deal reported around $2.8 billion. The combined company, taking the Seismic name, says it will invest more than $100 million annually in R&D and serves roughly 2,500 customers and 3.5 million users.
InduPro raises $77M Series B as it doses first patient in Phase 1 lung cancer trial
Seattle- and Cambridge-based biotech InduPro raised $77 million in a Series B to advance its oncology protein-therapeutics pipeline and is dosing the first patient in a Phase 1 trial targeting lung cancer and other solid tumors.
Whatnot raises $545 million Series G at $20 billion valuation, plans to triple Seattle staff and expand South Lake Union office
Live-commerce company Whatnot raised $545 million in a Series G round that values it at $20 billion and plans to triple its Seattle workforce, seeking a larger South Lake Union office to accommodate growth.
80 Acres Farms shutters Marysville facility, ceases operations after prospective buyer withdraws; 55 laid off
80 Acres Farms, a Hamilton, Ohio-based vertical farming startup that raised hundreds of millions in venture capital, is closing its Marysville production and packhouse facility and ceasing operations after a prospective buyer withdrew, resulting in 55 layoffs and citing financial and funding challenges.
ABC Fitness Acquires Seattle Gym AI Startup Replify, Co-Founded by Zillow Alum Spencer Rascoff
Seattle gym-AI startup Replify, co-founded in 2023 by Spencer Rascoff and Zillow veterans, was acquired by Sherwood, Arkansas–based ABC Fitness; financial terms were not disclosed.
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’s Amperity Makes Layoffs Weeks After Co-Founders Return as Co-CEOs in Third Leadership Shift Since 2022
Seattle-based customer data company Amperity made staff cuts shortly after co-founders resumed roles as co-CEOs, marking its third leadership change since 2022.
Former Redfin CEO Glenn Kelman Joins Greylock as Executive in Residence After $1.75 Billion Rocket Sale
Glenn Kelman, former CEO of Redfin who led the company for over 20 years and through its $1.75 billion acquisition by Rocket, has joined venture capital firm Greylock as an executive in residence.
AI2 Incubator Rebrands as AI House and Hires Former Point72 Partner Sri Chandrasekar as Managing Director
AI House, formerly AI2 Incubator, has appointed Sri Chandrasekar, a former Point72 partner, as managing director and implemented a residency requirement for founders at its Seattle headquarters.
Former Convoy CEO Dan Lewis Launches Stealth Startup Focused on AI Infrastructure and Supply Chain Intelligence
Dan Lewis, former CEO of Convoy, has launched a stealth startup aimed at developing AI infrastructure and enhancing supply chain intelligence.
Seattle Biotech Vedana Therapeutics Raises $46 Million to Develop Injectable Migraine Treatments
Seattle biotech Vedana Therapeutics raised $46 million in funding to develop injectable migraine treatments and plans to start Phase 1 trials next year under CEO Anurag Agarwal. The company has launched out of stealth mode to pursue its migraine therapy development.
Zócalo Health raises $15 million Series A led by EO Ventures, seeks first office in Bothell/Kenmore to support planned hiring
Seattle-area primary care startup Zócalo Health raised a $15 million Series A led by EO Ventures and is seeking a first office in Bothell/Kenmore as it plans to double its ~150-person workforce and expand services for underserved populations.
Remitly co-founder Matt Oppenheimer becomes executive chairman as ex-Amazon exec Sebastian Gunningham named CEO
Remitly co-founder Matt Oppenheimer is stepping down as CEO and becoming executive chairman while former Amazon executive Sebastian Gunningham will succeed him as CEO; Oppenly (sic) remains a major shareholder and will focus on long-term strategy.
