[Updated April 18 with correction to Madrona Venture Group’s new investment in Q1—Yieldex, not PetraVM (which was Q4)] OK, the venture capital stats are in for the first three months of 2009, and surprise—they’re not very pretty. In fact, venture capitalists and all of us who follow their activities should probably just retire now while … Continue reading “Top 5 First-Quarter Venture Deals in Washington State; Local VCs Weigh In on Downturn”
Category: Seattle
First Quarter Venture Investments Plunge 50 Percent Nationwide
There was a time when venture capital partners used to tell me that venture investing is unaffected by the overall economy, because it takes five to 10 years to realize returns in startup investments. In January 2008, Deepak Kamra of Menlo Park, CA-based Canaan Partners said, “Most venture-backed companies don’t have a lot of debt, so they’re not … Continue reading “First Quarter Venture Investments Plunge 50 Percent Nationwide”
Haute Secure Bought by TRUSTe
Seattle startup Haute Secure, a maker of anti-malware security software, has been acquired by San Francisco-based TRUSTe, an online privacy firm. No terms were disclosed. Haute Secure was backed by Baseline Ventures and Sherpalo Ventures.
GridNetworks Merges with GMS
Global Media Services, based in New York City, has announced it is merging with Seattle-based GridNetworks, an online video startup. Financial terms were not disclosed. The combined company will provide streaming and media services for personal computers, mobile devices, and TV. GridNetworks, founded in 2005, was backed by Comcast, Cisco, and Panorama Capital. News of … Continue reading “GridNetworks Merges with GMS”
Naverus Nets $4M for Navigation Software
Kent, WA-based Naverus, a maker of novel navigation software for airlines, announced today it has raised $4 million in funding led by Foundation Capital and East Peak Partners. Naverus has developed a performance-based navigation system, which provides precise flight paths that are faster and more fuel-efficient and reduce carbon emissions. The company has airline customers … Continue reading “Naverus Nets $4M for Navigation Software”
How Seattle VCs Are Adapting to the UW TechTransfer Revolution (Part 2)
[This is the second part of a series on how the process of identifying venture-backed startups and commercialization opportunities at the University of Washington is evolving—Eds.] How does the University of Washington Tech Transfer office view its ongoing relationship with venture capitalists? On Wednesday, we reported on how venture firms around town are going about … Continue reading “How Seattle VCs Are Adapting to the UW TechTransfer Revolution (Part 2)”
A Tale of Two Startups: Picnik and Wetpaint, Like Peanut Butter and Chocolate
Earlier this week, we heard that two of Seattle’s most promising Internet startups have teamed up to deliver sophisticated photo editing services to a growing pool of social-network users. Picnik, which makes Web-based tools for creating collages and cool photo effects, is now available (with just a click) to users of Wetpaint, a “social publishing” … Continue reading “A Tale of Two Startups: Picnik and Wetpaint, Like Peanut Butter and Chocolate”
RunKeeper’s Mad Dash to the Marathon Finish: Of Foot Injuries, Viral Video, and Dressing Up as an iPhone
If you’re out watching the Boston Marathon on Monday and you see a giant iPhone limp past, chances are it’s Jason Jacobs inside. Jacobs is the hyperkinetic founder and CEO of Boston-based FitnessKeeper, which makes a highly popular run-tracking application for the Apple iPhone 3G called RunKeeper. (He was also a panelist at Xconomy’s recent … Continue reading “RunKeeper’s Mad Dash to the Marathon Finish: Of Foot Injuries, Viral Video, and Dressing Up as an iPhone”
Gregoire’s Innovation Man, Rogers Weed, Gets Marching Orders for New State Strategy
Gov. Chris Gregoire wants to light a spark for innovation in Washington state so much that not only did she hire a Microsoft executive to run a key state agency, she’s supporting legislation to make him craft a new strategy for stimulating the technology and life sciences industries in the state. Rogers Weed, who discussed … Continue reading “Gregoire’s Innovation Man, Rogers Weed, Gets Marching Orders for New State Strategy”
Naverus Receives $4,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=b8ffa0fd-a5a4-465c-b626-2243f097ad04&Preview=1 Date 4/17/2009 Company Name Naverus Mailing Address 20415 72nd Ave S Kent, WA 98032 Company Description Our mission is to harness emerging navigation technologies to make air transportation operations around the world run better by making them more efficient and predictable, giving them better access to more airports through higher capacity … Continue reading “Naverus Receives $4,000,000 New Funding Round”
Amgen Shows Off Cancer Drug Pipeline Before Scientific Meeting
Amgen became the world’s biggest biotech company because of its ability to treat the side effects of cancer chemotherapy. But Amgen’s dream over the past decade has been to get into the game of targeted cancer drugs that actually kill tumors, and over the next few years it will find out if it will be … Continue reading “Amgen Shows Off Cancer Drug Pipeline Before Scientific Meeting”
SignaCert Closes $8.8M Series B
Portland, OR-based SignaCert, a maker of IT security and management software, announced it has raised $8.8 million in Series B funding. The round was led by existing investors including DCM, Intel Capital, and SmartForest Ventures, with new participation from In-Q-Tel and other strategic investors. SignaCert was founded in 2004, and has customers in financial services, … Continue reading “SignaCert Closes $8.8M Series B”
UW’s Connie Bourassa-Shaw on the Genetics of Entrepreneurs, and Why Seattle Is Startup Mecca
Connie Bourassa-Shaw has been the director of the University of Washington’s Center for Innovation and Entrepreneurship (CIE) in the Foster School of Business for just three years. But her ties to the UW go back to 1987, when she was a writer for the UW economic and business magazine, Pacific Northwest Executive. She has played … Continue reading “UW’s Connie Bourassa-Shaw on the Genetics of Entrepreneurs, and Why Seattle Is Startup Mecca”
Dendreon’s “Clear Hit” on Provenge, Oncothyreon Rides Coattails, Cell Therapeutics Nabs $15M, & More Seattle-Area Life Sciences News
The Xconomy biotech desk felt more like “Dendreon News Central” this week. The Seattle biotech company captured headlines around the world when its immune-stimulating treatment for prostate cancer showed it could help men live longer with prostate cancer with minimal side effects. We had several angles on this story, but there was actually plenty of … Continue reading “Dendreon’s “Clear Hit” on Provenge, Oncothyreon Rides Coattails, Cell Therapeutics Nabs $15M, & More Seattle-Area Life Sciences News”
TrustE Acquires Haute Secure Inc for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e28a2171-1eec-4fdd-88e4-ddfdb255c2df&Preview=1 Date 4/16/2009 Company Name Haute Secure Inc Mailing Address 2212 Queen Anne Ave Seattle, WA 98109 Company Description HauteSecure was founded in 2006 by a team of security, internet and web experts with a near-obsessive desire to make the web safer for everybody. After watching helplessly as several of our friends … Continue reading “TrustE Acquires Haute Secure Inc for Undisclosed Sum”
Max-Viz Inc. Garners $3,000,000 Series A Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=440edaa4-0fd4-4b1d-a2f4-051e62f26608&Preview=1 Date 4/16/2009 Company Name Max-Viz Inc. Mailing Address 16165 S.W. 72nd Avenue Portland, OR 97224 Company Description Max-Viz is the only aerospace company in the world dedicated solely to the design, development and manufacture of Enhanced Vision Systems for the aviation industry. Website http://www.Max-Viz.com Transaction Type Venture Equity Transaction Amount $3,000,000 … Continue reading “Max-Viz Inc. Garners $3,000,000 Series A Funding Round”
SignaCert Garners $8,800,000 Series B Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3b741207-54dc-4317-b222-97fb036d56fe&Preview=1 Date 4/16/2009 Company Name SignaCert Mailing Address 707 SW Washington Street, 7th Floor Portland, OR 97205 Company Description SignaCert is a Delaware C-Corporation doing business in Portland, Oregon. The company focus is the development and delivery of software and services to provide enhanced trust management and enforcement of Information Technology (IT) … Continue reading “SignaCert Garners $8,800,000 Series B Funding Round”
Hutch Cuts 83 Jobs To Cope with Drop in Philanthropy
[[Updated, 11:55 am Pacific April 16, with corrected employee and budget figures]] The Fred Hutchinson Cancer Research Center has joined the list of organizations announcing layoffs, by eliminating 83 jobs, or about 3 percent of its workforce. The Seattle-based nonprofit research institute said in a statement that it made the budget cuts to offset the … Continue reading “Hutch Cuts 83 Jobs To Cope with Drop in Philanthropy”
How Seattle VCs Are Adapting to the UW TechTransfer Revolution
[This is Part 1 of a two-part series on how the process of identifying venture-backed startup opportunities at the University of Washington is evolving—Eds.] Back in February, we reported on the “VC revolution” happening on the campus of the University of Washington. Six months into her tenure as vice provost of UW TechTransfer, Linden Rhoads … Continue reading “How Seattle VCs Are Adapting to the UW TechTransfer Revolution”
Vulcan-backed BiPar Sold to Sanofi
BiPar Sciences, a Brisbane, CA-based developer of cancer drugs, said today it agreed to be acquired by Paris-based Sanofi-Aventis in a deal that could be worth as much as $500 million if the company’s lead drug candidate reaches certain milestones in development. Paul Allen’s Vulcan Capital led a $13 million Series A round in BiPar … Continue reading “Vulcan-backed BiPar Sold to Sanofi”
From Microsoft to Olympia: Q&A With Rogers Weed, New Washington Commerce Chief
Olympia, in the view of many entrepreneurs I’ve talked to over the years, is practically a code word in this state for “bureaucrats out of touch with what it takes to run a business.” So when I heard Gov. Chris Gregoire turned to Rogers Weed, a former Microsoft vice president, to be in her cabinet … Continue reading “From Microsoft to Olympia: Q&A With Rogers Weed, New Washington Commerce Chief”
Microsoft Sells Franchise for $20M, Cell Therapeutics Collects $15M, Adapx Raises $9M, & More Seattle-Area Deals News
Maybe everyone has finally done their taxes, so they can announce their funding deals. For whatever reason, it was a busy week for deals in the Northwest, with quite a bit of financing activity in software, biotech, and devices. —Seattle-based ExtraHop Networks announced it raised a $5.1 million Series A round led by Madrona Venture … Continue reading “Microsoft Sells Franchise for $20M, Cell Therapeutics Collects $15M, Adapx Raises $9M, & More Seattle-Area Deals News”
Riding Dendreon’s Coattails, Antigenics and Oncothyreon Shares Soar
Who will be the next Dendreon? That’s the question investors are asking today, as Dendreon’s good news from this morning is sending a ripple effect through shares of other companies that aspire to develop treatments that stimulate the immune system to fight cancer. Lexington, MA-based Antigenics saw its shares rocket 63 percent in mid-day trading, … Continue reading “Riding Dendreon’s Coattails, Antigenics and Oncothyreon Shares Soar”
ExtraHop Hauls In $5.1M to Help Companies Manage Their Networks Efficiently
And the hits keep coming. In a busy week for financing deals, Seattle-based ExtraHop Networks is announcing today it has raised a $5.1 million Series A round, led by Madrona Venture Group. Prominent angel investors Marc Andreessen and Ben Horowitz also participated in the funding round, which closed at the end of February. ExtraHop, which … Continue reading “ExtraHop Hauls In $5.1M to Help Companies Manage Their Networks Efficiently”
Cell Therapeutics Seeks Pixantrone Approval
Cell Therapeutics says that it has begun a rolling submission of an application to the FDA to garner approval of its drug pixantrone, a treatment for relapsed or refractory aggressive cases of non-Hodgkin’s lymphoma. The Seattle-based drug developer (NASDAQ:[[ticker:CTIC]])—which revealed yesterday that it secured $15 million from institutional investor Cranshire Capital—plans to complete submission of … Continue reading “Cell Therapeutics Seeks Pixantrone Approval”
Dendreon Immune Booster for Prostate Cancer Helps Men Live Longer; Shares Boom
[[Updated]] Dendreon has been vindicated. The Seattle biotech company, after living through years of controversy about whether its experimental drug helps prostate cancer patients live longer, said today that a clinical trial of 512 men now shows that the treatment can help prolong life with minimal side effects. Shares skyrocketed by more than $12, rising … Continue reading “Dendreon Immune Booster for Prostate Cancer Helps Men Live Longer; Shares Boom”
Dendreon’s Top Five Shareholders Hold Their Breath for Big Trial Result
One way or another, Dendreon is going to create some major winners and losers today, but who will they be? Investors will find out if the company has been able to show in a clinical trial whether its immune-boosting therapy for prostate cancer, Provenge, is able to prolong lives. A positive result could send the … Continue reading “Dendreon’s Top Five Shareholders Hold Their Breath for Big Trial Result”
ExtraHop Networks, Inc. Secures $5,000,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=a45b3228-e897-4e7a-b264-dfb772b321a9&Preview=1 Date 4/14/2009 Company Name ExtraHop Networks, Inc. Mailing Address 300 Elliott Ave Seattle, WA 98119 Company Description ExtraHop Networks is a venture-backed technology startup based in Seattle. We have a world-class team focused on solving problems in computer networks everywhere. We are building cutting-edge technology to deliver a disruptive level of … Continue reading “ExtraHop Networks, Inc. Secures $5,000,000 New Financing”
Buckle Up: Dendreon Trading Halted With Prostate Cancer Results Due Tomorrow Morning
Dendreon’s long-awaited big news is coming tomorrow morning. The Seattle biotech company (NASDAQ: [[ticker:DNDN]]) said it will hold a conference call before stock trading opens tomorrow morning to discuss the final results of a clinical trial that will show whether its immune-stimulating drug for prostate cancer, Provenge, can help men live longer. The company’s conference … Continue reading “Buckle Up: Dendreon Trading Halted With Prostate Cancer Results Due Tomorrow Morning”
Microsoft Live Labs Reorganization, Questioned by Many, Is Great for Innovation, Says Lazowska
Much has been made of the fact that Microsoft is moving about half of its Live Labs applied research staff to other divisions, such as product groups and Microsoft Research. The news, announced within Microsoft a week ago, has been met with criticism from outside observers, who lament the reduction of one of the company’s … Continue reading “Microsoft Live Labs Reorganization, Questioned by Many, Is Great for Innovation, Says Lazowska”
Cell Therapeutics Grabs $15M From Single Investor
[[Updated 1:30 pm with investor name]] Cell Therapeutics has been slashing costs to keep its doors open this year, and now it has found a source of new capital to keep going at least a little while longer. The Seattle biotech company (NASDAQ: [[ticker:CTIC]]) said today it has pulled in $15 million from a single … Continue reading “Cell Therapeutics Grabs $15M From Single Investor”
Picnik, Wetpaint Team Up on Photos
Seattle-based Picnik, a maker of Web-based photo editing software, announced today it has teamed up with fellow Seattle startup Wetpaint, a social publishing site, to allow social network and fan site users to fine-tune their pictures. There is no financial or investment relationship between the companies, but now more than 8 million Wetpaint customers can … Continue reading “Picnik, Wetpaint Team Up on Photos”
Adapx Raises $9M to Bring Digital Pen Technology to Mobile Field Workers
A few local tech companies have still been able to raise significant new funding rounds in a very tough climate. The latest is Seattle-based Adapx, which is announcing today it has raised a $9 million Series B round, led by new investor UV Partners in Salt Lake City, UT. Existing investors OVP Venture Partners, based … Continue reading “Adapx Raises $9M to Bring Digital Pen Technology to Mobile Field Workers”
Five Hot Prospects on the UW Faculty, from Engineering Dean Matt O’Donnell
This is the time of year when I look for hot young prospects for my fantasy baseball team. Maybe that’s why it seemed natural to think of Matt O’Donnell, the dean of the University of Washington’s College of Engineering, as being like a baseball general manager. Part of his job is to recruit and develop … Continue reading “Five Hot Prospects on the UW Faculty, from Engineering Dean Matt O’Donnell”
Adapx Inc. Secures $9,000,000 Series B Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=97c70bc6-5dcf-4316-8d3a-c22e3eb211a6&Preview=1 Date 4/12/2009 Company Name Adapx Inc. Mailing Address 821 Second Avenue Seattle, WA 98104 Company Description Adapx has developed field information capture technology that digitizes field personnel handwritten information. Website http://www.adapx.com Transaction Type Venture Equity Transaction Amount $9,000,000 Transaction Round Series B Proceeds Purposes Adapx will use the additional capital to … Continue reading “Adapx Inc. Secures $9,000,000 Series B Financing”
Geospiza Raises $750K
Geospiza, the maker of software for biomedical researchers, has raised $750,000 from new and existing angel investors, according to Laura Lucas, vice president of marketing. The company had gained some momentum in the past year, helping scientists cope with information overload of the genomic age. The company secured a $1.1 million grant last month from … Continue reading “Geospiza Raises $750K”
Seattle Layoff Update: Amgen, Isilon Cut Staff
The carnage continues at tech and life sciences companies in the Northwest. You can follow Xconomy Seattle’s updated layoff litany here—we’ve kept a running tally of job cuts since November. (If you’ve heard of other layoffs in the innovation community, please drop us a line at [email protected] or [email protected].) —Luke broke the news that Amgen … Continue reading “Seattle Layoff Update: Amgen, Isilon Cut Staff”
TalentSpring Scores $1.6M
Seattle-based TalentSpring, a developer of semantic-search software that helps recruiters better match job candidates to open positions, announced today it has closed a $1.6 million round of funding from Second Avenue Partners and private investors. TalentSpring, led by founder and CEO Bryan Starbuck, plans to release its product to the public next month.
Boston Can Survive, Even Thrive, Without Today’s Globe
It’s difficult to see how the Boston Globe can last long in its current form. Even if its owner, the New York Times Co., extracts the entire $20 million in concessions that it demanded this week from the paper’s unions, the paper would still lose $65 million this year, according to the company’s own figures. … Continue reading “Boston Can Survive, Even Thrive, Without Today’s Globe”
CarDomain Scrapes for Survival in Struggling Auto Website Sector
Sitting in the cockpit of a brand new 2010 Chevy Camaro SS (red paint job with 6-speed manual transmission), Rob Einaudi probably has better things to do than talk to the media. But I reached Einaudi, the editor-in-chief of CarDomain.com, yesterday at the New York International Auto Show, where he was taking this particular sports … Continue reading “CarDomain Scrapes for Survival in Struggling Auto Website Sector”
Brother, Can You Spare a Stimulus Dime? Washington Innovation Summit Notebook
Every entrepreneur in the Northwest seems to be wondering about how to scrape up a few bucks from President Obama’s economic stimulus, yet hardly anybody has any coherent answers about how to actually get any of it. That was the main impression I got yesterday after attending the Washington Innovation Summit. This event, organized by … Continue reading “Brother, Can You Spare a Stimulus Dime? Washington Innovation Summit Notebook”
At CHI Meeting, Microsoft Turns Computing Interfaces on Their Head, and Side, and Back
I spent a couple of days this week at CHI, the big annual meeting of the Association for Computing Machinery’s Special Interest Group on Computer-Human Interaction (ACM SIGCHI). It was the first time since 1994 that the conference—the main international gathering for scholars and practitioners in user interface design—has come to Boston. But it wasn’t … Continue reading “At CHI Meeting, Microsoft Turns Computing Interfaces on Their Head, and Side, and Back”
Geospiza Inc Obtains $750,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=8bdac28a-71da-4116-817c-6b82f5ab5bd1&Preview=1 Date 4/10/2009 Company Name Geospiza Inc Mailing Address 100 West Harrison, North Tower Seattle, WA 98119 Company Description Geospiza is a leading developer of enterprise-class software systems for workflow management of genetic analysis. Website http://www.geospiza.com/ Transaction Type Venture Equity Transaction Amount $750,000 Transaction Round Undisclosed Proceeds Purposes Proceeds purposes were not … Continue reading “Geospiza Inc Obtains $750,000 New Funding Round”
Microsoft Downsizes Live Labs
Microsoft is cutting its three-year-old Live Labs applied research group in half and moving the rest of the staff to product groups and other divisions, as first reported by PaidContent.org. Microsoft cited economic conditions as part of the reason for the move. The remaining Live Labs staff will focus on Internet search technologies.
Big Fish to Open Ireland Office
Seattle-based Big Fish Games announced today it is setting up European headquarters in Cork, Ireland, and expects to create as many as 100 positions there over the next three years. The new office will focus on multilingual customer support, game testing, and product localization. Big Fish is a leading developer and distributor of casual games.
Amgen Cuts 100 Jobs in Bothell
Amgen, the world’s biggest biotech company, is cutting 100 jobs at a drug manufacturing site in Bothell, WA, Xconomy has learned. This round of cuts will leave Amgen with about 70 people still working in Bothell, and a total workforce in the state of just under 900 people, company spokeswoman Carol Pawlak confirmed. Amgen, which … Continue reading “Amgen Cuts 100 Jobs in Bothell”
JanRain Offers Universal Logins, Puts Portland at Center of Internet Identity Movement
Are you tired of trying to remember 20 different passwords for all your online accounts? If so, Larry Drebes has a proposition for you. His Portland, OR-based company, JanRain, makes software that gives customers and employees secure, universal logins for the Web, and it enables companies’ websites to accept these logins. The software works via … Continue reading “JanRain Offers Universal Logins, Puts Portland at Center of Internet Identity Movement”
Putting UW Startup Dreams on Hold: Entrepreneur Advises Researchers to Nurture Ideas More
We’ve been writing for months about the renaissance in startup activity at the University of Washington since Linden Rhoads came to campus to run tech transfer. The big ideas, and the fire in the belly, are easy to find coming from UW these days (Arzeda and EnerG2 pop to mind), but as any businessperson will … Continue reading “Putting UW Startup Dreams on Hold: Entrepreneur Advises Researchers to Nurture Ideas More”
Dendreon Saga Nears Climax, Gregoire Biotech Fund in Jeopardy, UW’s Biofuel Futurist, & More Seattle-Area Life Sciences News
Seattle biotech had a little something for everybody this past week. There was drama (Dendreon), politics (Life Sciences Discovery Fund getting whacked), a scientist’s life story (David Baker), and young competitors vying to make the world a better place (UW Environmental Innovation Challenge). —Dendreon (NASDAQ: [[ticker:DNDN]]), the Seattle developer of an immune-stimulating therapy for prostate … Continue reading “Dendreon Saga Nears Climax, Gregoire Biotech Fund in Jeopardy, UW’s Biofuel Futurist, & More Seattle-Area Life Sciences News”
WRS Buys Isonics Semiconductor
San Jose, CA-based WRS Materials announced it has acquired Isonics Semiconductor Group, based in Vancouver, WA. Terms of the deal were not disclosed. The semiconductor group, which includes silicon wafer manufacturing facilities, was a division of New York-based Isonics.