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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January 2020 PNW Venture Deals

Here are the PNW startups that announced new fundraising rounds in the month of November. These 23 companies raised ~$180M last month!

Series B and Later Rounds 🚀

  • Porch - Home improvement platform designed to connect homeowners with home repair and maintenance providers - $20.6M Series C
  • Ventec Life Systems - Multi-function respiratory system combining ventilation, oxygen, cough, suction, and nebulization - $20M Series E
  • OceanGate - Manned submersibles for commercial projects, scientific research, and exploration travel - $18M round
  • AbSci - rapid and low-cost biomanufacturing for complex biotherapeutics - $10.4M Series D led by KBI Biopharma
  • Polyverse - Cyber security company that randomizes Linux binaries to deploy moving target defense strategies - $8M round

Series A Rounds 🛫

  • Aspect Biosystems - Microfluidics and 3D bioprinting to create living, human tissue - $20M Series A led by Radical Ventures
  • Twistle - Software to help health systems automate personalized education and care communications with their patients - $18M Series A
  • TwinStrand Biosciences - Next-gen DNA sequencing with 10,000-fold higher accuracy - $16M Series A led by Madrona
  • Powell Software - Collaboration, productivity and governance products for Office 365 - $16M Series A led by Level Equity and CapHorn Invest
  • Joy - Wedding planning platform with websites, guest lists, invites, registries, and mobile apps - $9M Series A

Seed Rounds 🌱

  • Uplevel - Employee effectiveness platform to empower engineering team managers - $7.5M Seed from Norwest, Madrona, and Voyager
  • Alitheon - AI authentication that can distinguish any solid object from visually identical items using computer vision - $3.3M Seed
  • Tectonic Audio Labs - Flat panel audio systems for automotive and professional customers - $1.8M round
  • Cloud Campaign - Digital platform designed to help marketing agencies scale social media management - $1.7M Seed led by Right Side Capital
  • Printforia - Real-time manufacturing and fulfillment for customized apparel - $1.4M Seed
  • Q5id - Multifactor biometric enrollment and authentication platform - $1.4M Seed
  • Nori - Blockchain-based marketplace for carbon removal - $1.3M Seed
  • Riff Cold Brewed - Producer of cold-brewed coffee - $1.2M Seed
  • Carbitex - Manufacturer of carbon fiber fabrics - $1M Seed
  • Soovu Labs - Wearable device designed to treat lower back and menstrual pain - $800K Seed
  • React Mobile - Panic button app and safety platform for the hospitality industry - $750K Seed
  • Traxitt - Software to turn IoT sensor data into actionable insights - CAD800K Seed led by 7 Gate Ventures
  • StormSensor - Stormwater monitoring platform to prevent flooding and sewage overflows - $600K Seed led by American Family Institute

Some observations on this list:

  • The last two months have been slower for fundraising, but expect things to pick back up in February
  • There were fewer SaaS companies raising large rounds last month, but what a cool variety of other types of startups…
  • For example, you can sign up to try the OceanGate submarines on their weekly dives in Possession Sound and see 3D-printed “human tissues on demand” on the Aspect Biosystems YouTube


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