May 2020 PNW Venture Deals
Here are the PNW startups that announced new fundraising rounds in the month of May. These 18 companies raised ~$340M last month!
Series B and Later Rounds 🚀
- AbCellera - Single-cell platform for therapeutic antibody discovery - $105M Series B led by OrbiMed and DCVC
- Nautilus Biotechnology - High-throughput, low-cost platform for proteome analysis - $76M Series B led by Vulcan
- DefinedCrowd - Platform for sourcing, structuring, and enriching ML training data - $50M Series B
- Knock - Front office platform for multifamily property management companies - $12M Series B led by Madrona
- Bright.md - Asynchronous virtual healthcare platform - $8.7M Series C led by B Capital, Seven Peaks, and Concord Health
Series A Rounds 🛫
- Good Therapeutics - “Context-dependent” protein drugs that act only when and where they are needed - $22M Series A
- ARTMS – Systems for local production of diagnostic imaging isotopes - $19M Series A led by Deerfield
- Wyze - Smart home cameras and devices at affordable prices - $10M Series A1 led by Norwest
- Syndio - Pay-equity analysis platform - $7.5M Series A led by Voyager and Emerson Collective
- Coinme - Bitcoin ATM network - $5.5M Series A1 led by Pantera
- Beta Hatch - Insect protein for animal feed - $3M Series A1
Seed Rounds 🌱
- Ziva Dynamics - Virtual character simulation software - $7M Seed
- React Mobile - Panic button apps and devices - $6.8M Seed
- Skinny Dipped Almonds - Chocolate coated almonds - $5.8M Seed
- Latchel - Rental property maintenance platform - $3.4M Seed
- Tripgrid - Workspace to manage project travel - $1.9M Seed
- Cloud Paper - Toilet paper made with ultra-soft bamboo - $1.6M Seed
- MDMetrix - Healthcare analytics platform - $1.15M Seed
- Stably – Asset-backed stablecoins on the blockchain - $1M round
M&A and IPOs 💥
- Tune - SaaS platform for managing marketing partnerships - Acquired by Constellation Software
- – next two are not Seattle companies, but were acquired by one –
- Softomotive - RPA platform focused on desktop automation - Acquired by Microsoft
- Metaswitch - Software for communications platform providers - Acquired by Microsoft
Thoughts and Observations 🧐
- Two-thirds of investment dollars went towards life sciences companies
- Only one company on this list was founded in 2019 or later. We’ll continue watching how the pandemic slows down the rate of new startup formation in the PNW
- Expect to see more big tech acquisitions in the coming quarters as startups look for exits, and valuations come down