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
- Story Protocol
- Glowforge
- Union.ai
- Stacklok
- 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.
