Seattle’s tech companies pulled in funding rounds big and small last week. Read up on the latest developments. This is the Built In Seattle weekly refresh.
Rad Power Bikes secured $150M. The popularity of energy efficient travel is on the rise, and this startup is looking to become one of the top brands in the electronic bike space. With this new funding from investors including Morgan Stanley and Fidelity, Rad is planning to expand its international presence as well as grow its team to 650 in 2021. [Built In Seattle]
Andy Jassy steps up as Amazon’s new CEO. Upon Jeff Bezos moving to the executive chair position, longtime company executive Jassy will take up the CEO seat during the third quarter of this year. With his cloud computing expertise, Jassy has run Amazon Web Services for nearly 20 years. As CEO of Amazon, Jassy is poised to make changes and potentially reinvent many aspects of the prominent company. [The Verge]
Seattle Tech Quote of the Week
Brightloom raised $15M. This data-science-as-a-service company works to help consumer brands like restaurants learn from their customer data. Its platform connects to transaction information and uses machine learning to help brands understand this information and make predictions based upon it. The new raise will fund R&D and company growth. [Built In Seattle]
Lockstep pulled in $10M. On its mission to streamline the business-to-business accounting process, this company secured Series A funding led by Point72 Ventures. Its cloud-based platform connects accounts receivable and accounts payable to optimize invoicing. Part of the new capital will go toward tripling its development team and hiring in sales and marketing. [Built In Seattle]
Iteratively got $5.4M. The startup aims to help enterprises build trustworthy data pipelines. Its platform sits at the site of data’s origin and then validates that data before sending it out to a third-party solution. Following a seed funding round led by Gradient Ventures, Iteratively plans to double its team of 10 by the end of the year with available roles in R&D, sales and marketing. [TechCrunch]