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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June 2020 PNW Venture Deals

Here are the PNW startups that announced new fundraising rounds in the month of June. These 20 companies raised more than $1.1B last month!


Series B and Later Rounds 🚀

  • Sana Biotechnology - Platform to repair and control genes in cells or replace any cell in the body - $700M “initial financing”
  • Vacasa - Vacation rental management services - $108M Series D led by Silver Lake
  • Athira Pharma - Drug company focused on neurodegenerative diseases - $85.5M Series B led by Perceptive Advisors
  • Outreach - Sales engagement platform designed to automate repetitive sales tasks - $50M Series F led by Sands Capital
  • Unbounce - Custom landing page builder designed to increase website and campaign conversions - $38.4M round led by Crest Rock
  • Thoughtexchange - Crowdsourcing software for surfacing insights from employees, communities, and customers - $30M Series B led by IVP
  • HeadLight – Photo-based inspection software for the construction industry - $25.6M Series B led by Viking Global


Series A Rounds 🛫

  • Proprio - Computational imaging for precision tasks like brain surgery - $23M Series A led by Data Collective
  • DigniFi - Fast, affordable loans for car repairs - $14M Series A led by BuildGroup
  • Tackle.io - Platform to help software vendors list in cloud marketplaces - $7.25M Series A led by Bessemer
  • Dumpling - Platform for individuals to start, run, and grow a personal shopping business - $6.5M Series A led by Forerunner
  • Honey Mama’s - Manufacturer of honey cocoa bars - $5.8M Series A led by Amberstone
  • WiBotic - Wireless charging and power optimization systems - $5.7M Series A


Seed Rounds 🌱

  • Zeitworks - Software to discover, analyze, and improve customers’ business processes - $4.5M Seed led by Madrona
  • DemandStar - Open marketplace for bidding on government contracts - $2M Seed led by Version One
  • StrategyBox - Online dashboard for making data-driven decisions - $2M Seed led by Fuel Ventures
  • Modento - Cloud-based patient engagement platform for dentists - $1M Seed
  • Humanly - Automated platform for candidate screening, scheduling, and engagement - $800K Seed
  • Observa - AI platform for providing real time insights into shelf issues- $725K Seed
  • DivDot - Online payments for high-value transactions - $500K Seed


M&A and IPOs 💥


Thoughts and Observations 🧐

  • Investors are back! Tons of later stage deals, tons of early stage deals, and 2020’s largest tech IPO!
  • Makes sense that the former CEO, CFO, and President of R&D from Juno ($9B exit) can raise $700M to start a new company. And nice flex to title their press release “Completion Of Initial Financing”
  • The only consumer deals were Vacasa, Honey Mama’s, and DigniFi. Everything else was life sciences or enterprise software


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