July 2020 PNW Venture Deals
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Here are the PNW startups that announced new fundraising rounds in the month of June. These 23 companies raised more than $500M last month!
Series B and Later Rounds 🚀
- Qumulo – File data platform built for the cloud - $125M Series E led by BlackRock
- Auth0 - Identity and authentication platform - $120M Series F led by Salesforce
- Remitly – International money transfer platform - $85M Series F led by PayU
- Puppet - Infrastructure automation and delivery - $40M debt financing led by BlackRock
- LOGE - Hotels for outdoor lovers - $15M round
- LumiThera - Medical device intended to prevent vision loss - $14M Series C led by WaterStar
- Curvafix - Curved medical screws for pelvic fractures - $10.75M Series B led by Sectoral
- Polyarc - VR action-adventure puzzle game- $9M Series B led by Hiro Capital
- JetClosing - Mobile-first title and escrow company - $8.57M Series B led by Trilogy
- Kollective - Enterprise content delivery networking infrastructure - $6.93M Series C1
Series A Rounds 🛫
- Tasso - Patient-centric blood sampling kits - $17M Series A led by Foresite
- Wyze - Smart home cameras and devices - $15M Series A1
- Shelf Engine - Prediction engine for perishable goods - $12M Series A led by GGV
- Liquid Wire - Stretchable and flexible circuits - $10M Series A led by Deerfield Management
- AstrumU - Predictive individual learning scores - $7.65M Series A led by Kingdom Capital
Seed Rounds 🌱
- HighKey - Keto cookies, cereal, and snacks - $9.5M Seed
- VodaSafe - Sonar water rescue device - $1.4M Seed led by Vanedge and BDC
- Joe - Mobile coffee ordering app - $1.3M Seed led by Craft Ventures
- Ideon Technologies - Cosmic-ray muon tomography - C$1.3M Seed led by UBC Seed Fund
- Killer Creamery - Keto-friendly ice cream - $945K Seed led by Sage Capital
- MilkRun - Local grocery delivery service - $690K Seed
- RipeLocker - Containers to extend shelf-life of produce - $676K Seed
- Drop-in Gaming - Gaming tournament platform - $500K Seed
M&A and IPOs 💥
- Accolade - Member engagement services for healthcare and benefits providers - $220M IPO
- Porch - Home services platform - SPAC merger valuing the company at $523M
Thoughts and Observations 🧐
- July was all about later stage deals, which created three new $1B+ companies (Qumulo, Remitly, and Accolade)
- There is a slowdown in seed deals, especially for software companies
- Accolade went public in an IPO, but Porch went public through a merger with a SPAC. With so many people raising SPACs, it will be interesting to see how many SPAC transactions get done this year