The Seattle tech sector is going through a particularly quiet spell for venture funding. Despite the lull, several companies secured new rounds to back their ideas last month. Read on to learn which tech innovations have sparked investor confidence, and find out how these companies are spending their fresh cash.
Largest Seattle Tech Funding Rounds, January 2023
- DevZero
- SirionLabs
- XetHub
- Membrion
- CypherD Wallet
#5. CypherD Wallet: $4.3 million, January 20
Y Combinator led a round of funding for a Web3 company that aims to simplify the design of crypto wallet apps. CypherD Wallet developed a non-custodial crypto wallet where users can hold, buy, sell and stake their currencies across multiple blockchains. The fresh capital will fuel R&D, product development and possible banking partnerships.
#4. Membrion: $7 million, January 17
Greentech company Membrion developed an on-premises solution for treating industrial wastewater, providing businesses with an economical and eco-friendly alternative to transporting it elsewhere. PureTerra Ventures led the Series B round. Membrion plans to put the fresh capital toward increasing its manufacturing capacity as well as its commercial and operations teams.
#3. XetHub: $7.5 million, January 9
XetHub engineered a way for remote machine learning app developers to collaborate on data-centric apps. The company emerged from stealth in January with a seed funding round from Madrona. XetHub’s tech aims to help developers work with their data using familiar conventions in a git-influenced environment.
#2. SirionLabs: $25 million, January 3
Helping companies keep track of customer needs and overall business operations, SirionLabs developed an artificial intelligence-powered contract lifecycle management platform. The company announced a $25 million addition from Brookfield Growth to its Series D raise, which was announced in May. New advances in the company’s AI capabilities as well as new integrations with enterprise solutions such as Salesforce and Microsoft 365 are underway with the new money.
#1. DevZero: $26 million, January 24
DevZero works to help developers ship better applications, offering them a cloud-based solution for writing, sharing and testing code in production-like environments. The company pulled in $26 million in venture capital from investors including Anthos Capital and Foundation Capital. With the money, DevZero will fuel product development and grow its team across engineering and go-to-market.
