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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February 2020 PNW Venture Deals

Here are the PNW startups that announced new fundraising rounds in the month of February. These 29 companies raised ~$325M last month!

Series B and Later Rounds 🚀

  • Semios - Agricultural data platform with real-time insights into weather, pests, disease, frost, and irrigation - $75M round led by Morningside
  • PayRange - Mobile payment technology for laundry, vending, and amusement machines - $70M round
  • Inpria - EUV photolithography resist materials for the semiconductor industry - $31M Series C led by JSR Micro
  • Rad Power Bikes - Electric bicycles sold directly to customers at radical prices - $25M round led by Vulcan and Durable Capital
  • Polyverse - Cyber-security platform leveraging moving-target defense technologies - $8M round
  • Cardiac Insight - Advanced, body worn ECG sensing technology - $8M Series D
  • Peach - Lunch-delivery service partnering with restaurants to deliver food to working professionals - $5M Series 2
  • Acuva - UV LED water-purification system designed to offer safe and hygienic drinking water- $5.4M round

Series A Rounds 🛫

  • Transparent Systems - Open platform for secure, frictionless payments using distributed cryptographic systems - $14M Series A led by Pantera
  • Fatigue Science - Sleep and fatigue risk management software for heavy industry, military, and elite sports - $10.85M Series A from Rhino Ventures and Sea Purity
  • Kaskada - End-to-end feature engineering and feature serving platform for data scientists - $8M Series A led by Walnut Street Capital
  • Esper - Platform for Android device deployment and application management - $7.6M Series A led by Madrona
  • PocketPills - Online pharmacy that ships meds in “Pocket Packs” to make them easier to manage - CAD7.35M Series A led by WaterBridge

Seed Rounds 🌱

  • Docugami - Document technology using AI to help businesses create and manage documents - $10M Seed led by SignalFire
  • Selkirk Pharma - Aseptic manufacturing services of injectable drugs - $9M Seed
  • PharmID - System to verify the medication and concentration in products within seconds - $5M Seed
  • Househappy - Concierge services for home projects and home maintenance - $3.1M Seed
  • FreightWeb - Easy, reliable, and affordable shipping based on freight, rather than full truckloads - $3M Seed led by Madrona and 8VC
  • Oisin Biotechnologies - Senolytic therapy technology intended to eliminate senescent cells from the body - $3M round
  • AVM Biotechnology - Stem cell tech designed to offer treatment in the form of regenerative medicine for oncology purposes - $2.6M round
  • Source - Platform to help construction professionals find samples, pricing, and documents - $2.5M round
  • Supercast - Podcast analytics and monetization platform - $2M Seed
  • LumaTax - Tax management platform for sales tax compliance for small businesses - $2M round from KPMG, Vulcan, and Cowboy Ventures
  • The Wild - Immersive collaboration platform for designers to create spatial designs in VR and AR - $1.5M round from Portland Seed Fund
  • PypeServer - Software tool for pipe spool design and fabrication - $1.5M Seed
  • n2uitive - Insurance claims interview and recorded statement management platform - $1.3M Seed led by Cascade Seed Fund
  • Cuboh - Software to bring online delivery services into one system and integrate with restaurant POS systems - $1.2M Seed
  • Boost - Basketball scouting and recruiting platform - $1M Seed
  • Joe Coffee - Mobile, order ahead network for indie coffee shops - $1M Seed led by Gravity Payments and Flying Fish

Some observations on this list:

  • Almost 2x the number of investment dollars from January. Deal pace is picking back up!
  • Awesome variety of seed stage companies (and seed stage investors) in vertical AI, vertical SaaS, life sciences, marketplaces, podcasting, AR/VR, insurance automation, consumer, etc.
  • Lots of Canadian companies on the list this month from Semios at the later stage, to Fatigue Science and Pocket Pills at the Series A, to Supercast and Cuboh at the seed stage

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