Hey, I'm Dan! I'm the CEO of Plus and a venture partner at Madrona. I write the DL, a newsletter about tech in the Pacific Northwest

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October 2020 PNW Venture Deals

Here are the PNW startups that announced new fundraising rounds in the month of October. These 27 companies raised more than $400M last month!

Series B and Later Rounds 🚀

  • 98point6 - On-demand, text-based primary care platform - $118M Series E co-led by L Catterton and Activant
  • AbSci - All-in-one protein expression platform - $65M Series E led by Casdin Capital
  • Pulumi - Modern infrastructure as code platform - $37.5M Series B led by NEA
  • Skilljar - Customer training and education platform - $33M Series B led by Insight
  • Possible Finance - Fast and affordable payday loan alternative - $11M Series B led by USV

Series A Rounds 🛫

  • Agility Robotics - Developer of bipedal walking robots - $20M Series A4 led by Playground Global and DCVC
  • Temporal Technologies - Open source microservices orchestration platform - $18.75M Series A led by Sequoia
  • Eclypsium - Cloud-based device security platform - $13M round
  • JAXJOX - All-in-one connected home fitness platform - $10M Series A

Seed Rounds 🌱

  • Tomo - Tech-enabled real estate transactions - $40M Seed led by Ribbit, NFX, and Zigg
  • Fabric - API-first, headless commerce platform - $9.5M Seed led by Redpoint
  • Gather - SaaS platform for funeral home services - $4M Seed
  • Strike Graph - Security audits and certifications software - $3.9M Seed led by Madrona
  • Leadr - People management software for leaders - $3.6M Seed
  • Covalent - API for Ethereum-backed assets and protocols - $3.1M Seed
  • HDT Bio - Immunotherapies for oncology and infectious disease - $3M Seed
  • Picnic - Pizza-making robot system - $3M Seed
  • LMPM - Property management software - $2.5M Seed
  • Shotcall - Marketplace to connect creators and fans - $2.2M Seed led by Initial Capital and New Stack Ventures
  • Scener - Virtual movie theater for hosting watch parties - $2.1M Seed led by SeaChange
  • Enviral Tech - COVID surveillance for long-term care communities - $1.5M Seed led by Rogue Venture Partners
  • Voleo - Investment club apps and software - $1.35M round
  • Boost - Sports analytics engine - $1.3M Seed led by TitletownTech
  • Vimocity - Workplace safety platform - $1.25M Seed
  • Neu - Cleaning services for vacation rentals - $800K Seed led by New Stack
  • LegUp - Enrollment software for childcare facilities - $750K Seed
  • Niricson - Infrastructure inspection and risk management software – C$800K Seed led by Swan Venture Fund

M&A and IPOs 💥

  • Smartsweets - Candy with no added sugars and artificial sweeteners - $360M acquisition by TPG Growth
  • TTR - Sales and use tax answers and tax rates - $337M acquisition by Avalara
  • Chef - Infrastructure, application, and DevSecOps automation - $220M acquisition by Progress

Thoughts and Observations 🧐

  • $40M seed round for Tomo! Very cool for the PNW to take the “largest seed round” ever record. Google tells me the largest ever Series A was $946M, so hopefully that is the next milestone!
  • Smartsheet and Smartsweets. Seems like a winning naming strategy for PNW startups! What’s next - SmartSeat, SmartREIT, or… SmartMeat?
  • It looks like after a long, strange year of ups and downs for startup funding, we are back to a normal pace for deal volume and distribution of seed, A, and later stage rounds

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