Hey, I'm Dan! I invest in startups at Madrona and write the DL, a weekly newsletter about tech in the Pacific Northwest

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April 2020 PNW Venture Deals

Here are the PNW startups that announced new fundraising rounds in the month of April. Despite the COVID slowdown, these 28 companies raised $220M+ last month!

Series B and Later Rounds 🚀

  • 98point6 – On-demand, text-based primary care platform - $43M Series D
  • Avalyn - Biopharma company developing therapies for idiopathic pulmonary fibrosis - $35.5M Series B led by Norwest
  • Vera Whole Health - Operator of 26 clinics that offer advanced primary care for employers and insurers - $10M round
  • Laird Superfood - Organic food brand producing creamers, mushroom blends, and freeze-dried coconut water - $10M round from Danone
  • Ayogo - Engagement platform designed to measure and monitor perceived self-efficacy - $7.5M Series B led by Merck
  • Blaze Bioscience - Biotech company developing “Tumor Paint” to improve surgical outcomes - $5M Series B2
  • Qorus - Sales enablement platform for building personalized proposals and presentations - $5M round led by WestRiver Group
  • Buurst - Dedicated cloud NAS and hybrid cloud data platform - $5M round

Series A Rounds 🛫

  • OctoML - Platform for optimizing and automating the deployment of ML models - $15M Series A led by Madrona and Amplify
  • Rodeo Therapeutics - Small-molecule therapies for enhancing tissue repair and regeneration - $9M Series A1
  • GrowFlow - Compliance software for cannabis growers, processors, and retailers - $8.75M Series A led by TVC Capital
  • Form - Augmented reality swimming googles - $8.5M Series A
  • Rebellyous Foods - Nuggets made from wheat, soy and other plant products- $6M Series A led by Clear Current Capital
  • AuthorDigital - Storytelling game designed to connect players across disparate genres - $5.5M round from Super.com
  • Intelage - Trade platform for suppliers, buyers, logistics providers, and financial institutions - $5M round led by Blumberg Capital
  • Jenny Life - Exam-free life insurance policies for busy parents - $3.5M Series A led by CMFG Ventures

Seed Rounds 🌱

  • Sila - Banking, digital wallet, and ACH payments API - $7.7M Seed led by Madrona and Oregon Venture Fund
  • Center - Real-time expense software and corporate debit card for mid-market companies - $5M round
  • NextStep - Learning and hiring platform focused on training CNAs and Certified Caregivers - $3.6M round led by SpringRock
  • Gemma Labs - Direct-to-consumer haircare company offering personalized shampoos and conditioners - $3.5M Seed
  • Imperative - Peer-coaching platform to empower leaders and managers - $3M Seed led by Voyager
  • Damon Motorcycles - Electric motorcycle with advanced sensor system to track objects around the motorcycle - $3M Seed
  • Asensys - High-performance blockchain system based on asynchronous consensus zones - $2.7M Seed
  • Megh Computing - FPGA platform for real-time streaming analytics - $2.5M round led by Vulcan
  • Bateau - Compliance software for managing operations at multi-location businesses - $1.5M Seed led by Founders’ Co-op
  • Myosana Therapeutics - Gene therapies that slow skeletal muscle degeneration and heart failure - $1M Seed led by CureDuchenne
  • Unison Migraine - Biofeedback therapy to decrease and prevent migraine pain - $500K Seed

M&A and IPOs 💥

  • Shiftboard – Employee scheduling software - $8M fundraise and merger with Vancouver-based SchedulePro
  • Cloudneeti - Cloud security and compliance software - Acquired by Zscaler

Thoughts and Observations 🧐

  • Not sure if it’s coincidence, but definitely more deals in life sciences, healthcare, and food last month
  • Local VCs are on 🔥! New deals by Founders’ Co-op, Vulcan, Voyager, SpringRock, Oregon Venture Fund, WestRiver Group, and Madrona!


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