Seattle’s 5 Largest Tech Funding Rounds Totaled $92.8M in May

Find out which local companies raised the most funds last month and how they will spend it.
Written by Cassidy Ritter
June 1, 2023Updated: June 1, 2023
The Seattle pier and skyline at dusk.
Photo: Shutterstock

From artificial intelligence and Web3 to 3D laser printers, Puget Sound tech companies from various industries secured capital last month. The five largest funding rounds raised by Seattle-area tech companies totaled $92.8 million in May. That total is down slightly from April’s top five rounds, which pulled in a combined $117 million. Read on to learn how May’s largest rounds will be spent.

Largest Seattle Tech Funding Rounds, May 2023

  1. Story Protocol
  2. Glowforge
  3. Union.ai
  4. Stacklok
  5. Strike Graph

 

#5. $7 million, May 22  $7 million, May 22

Having spun out of Madrona Venture Labs, Strike Graph is a privacy and security compliance and certification company. It allows businesses to streamline their security compliance efforts and also identifies areas of improvement. Strike Graph will use the $7 million round to add new certifications to its platform. 

 

#4. $17.4 million, May 17

Seattle-based Stacklok, which recently raised a $17.5 million Series A round, aims to secure the work developers are doing in the open-source software realm. Its solutions help developers mitigate risk, understand how an open-source software was created and incorporate a tamper-proof ledger.

 

#3. $19.1 million, May 17

Union.ai offers a Kubernetes-native solution intended to simplify the workflow of machine learning engineers and data scientists. The company raised $19.1 million in a Series A round from NEA and Nava Ventures and launched its Union Cloud product to companies in North America and Europe. Union Cloud allows businesses to quickly and cost-effectively develop products that use AI.

 

#2. $20 million, May 17

Glowforge created a 3D laser printer that can carve and engrave on wood, plastic, leather, fabric, chocolate and other materials. The Seattle-based company has raised $135 million since its founding in 2015, including its recent $20 million Series E round. Glowforge is used by more than 100,000 students, schools, small businesses and crafters.

 

#1. $29.3 million, May 17

Currently under development, Story Protocol is building a Web3 platform that will allow users to govern, create and license intellectual property. The startup plans to speed up the development of its platform with its $29.3 million seed round led by a16z Crypto.

Jobs from companies in this blog

Seattle startup guides

LOCAL GUIDE
Best Companies to Work for in Seattle
LOCAL GUIDE
Coolest Tech Offices in Seattle
LOCAL GUIDE
Best Benefits at Seattle Tech Companies
LOCAL GUIDE
Women in Seattle Tech