These Seattle tech startups certainly didn’t let the ongoing lull in VC funding slow them down, capping off Q2 with a cumulative $151 million in fresh capital. Most of June’s top earners are healthcare focused, but others are focused on real estate investment and financial services, too. Keep reading to learn more about these local standouts, and how they plan to spend their newly earned millions.
Seattle’s Largest Tech Funding Rounds, June 2023
- DexCare
- Mozart Therapeutics
- Picket Homes
- Outbound AI
- Heard Technologies
#5. $15 million, June 22
Heard supports mental health professionals with financial software and services, offering an array of booking, payroll and tax workflow products. CEO and co-founder Andrew Riesen called this the company’s “Series A-2” round, which was led by Headline with participation from GGV and all its previous institutional backers, including Heron Rock, Act One and Footwork Founders Co-Op. Heard will use the $15 million to scale and automate its products, as well as build up its integration with banking and retirement partners.
#4. $16 million, June 21
Outbound AI offers a conversational AI tool to handle revenue cycle-related administrative tasks for healthcare companies, including eligibility and benefits verification, claims status and prior authorization. This fresh $16 million will help the company accelerate its sales and marketing efforts, evaluate new use cases for administrative work areas and launch new programs with partners. Madrona Venture Group and SpringRock Ventures co-led the seed round, with participation from Ascend, Pack Ventures, Epic Ventures, Tacoma Venture Fund, Locke Capital and KCRise Fund.
#3. $20 million, June 20
Led by LL Funds with participation from RET Ventures, this $20 million Series B will be used to grow Picket Homes’ real estate investment and property management platform, which focuses specifically on the single-family rental market. Investors can use the platform to analyze the supply and demand of more than 25 U.S. markets, and automatically evaluate the investment potential of more than 50 million properties. Once an investor purchases a property, their assets are moved to Picket’s property management system, which offers renters various digital features like online maintenance requests and smart home technology. Picket Homes has mainly served institutional clients to date, but plans to expand its reach to individual investors as well.
#2. $25 million, June 7
Mozart Therapeutics is out to treat various autoimmune and inflammatory conditions with its portfolio of CD8 Treg Modulators — one of which the company anticipates will enter Phase 1 clinical trials in early 2024. Another is currently in preclinical development. This $25 million is an extension of a $55 million Series A round in 2021, bringing the total raised to $80 million. New investors Pfizer Ventures, AbbVie Ventures, Ono Venture Investment and UPMC Enterprise participated in the round, joining existing backers such as ARCH Venture Partners, Eli Lilly & Company, Leaps by Bayer, Altitude Life Science Ventures and others. The money will be used to advance the company’s leading treatment, MTX-101, into first-in-human clinical trials, as well as support pipeline expansion.
#1. $75 million, June 21
DexCare’s platform manages the logistics of digital healthcare delivery, enabling systems to forecast and predict demand so that it can manage how and where care is delivered to customers. The goal is to reduce workforce constraints and lower operational costs. Since spinning out from non-profit health system Providence in 2021, DexCare has raised a total of $146 million, including two oversubscribed rounds. This latest $75 million Series C was led by ICONIQ Growth, and included participation from existing partners including Kaiser Permanente Ventures, Define Ventures, Transformation Capital and more. The funds will be used to further advance DexCare’s platform.
