These 5 Seattle Tech Companies Raised a Combined $633M in May
These five Seattle tech companies raised the most capital last month, accumulating $633 million in total. Most of these rounds were in the tens of millions, but one stellar company brought in a whopping $400 million. Read on to see which companies topped the charts and how they will put their new capital to use.
#5. $25 million, May 17
Arrived Homes, a real estate investing platform, raised $25 million in a Series A funding round led by Forerunner Ventures. The company makes real estate investing more accessible to a wider population by allowing users to purchase shares of single-family rental homes. This allows investors to still see a return on their investment without needing to actually manage the property themselves. The new funding will allow Arrived Homes to expand its licensure to launch single-family rental and short-term rental properties in Florida, Texas, Nevada and Indiana.
#4. $60 million, May 3
AccelByte, a software company that develops backend tools and services for the gaming industry, raised $60 million in a Series B funding round led by SoftBank Vision Fund 2 with participation from Sony Interactive Entertainment. AccelByte creates a number of tools for gaming developers including connectivity and player matching technology as well as solutions for game distribution, analytics and monetization. The company plans to use its new funding to grow its product and engineering teams.
#3. $63 million, May 3
Edge Delta, an observability and data analytics platform, raised $63 million last month in a Series B round led by Quiet Capital. Edge Delta uses distributed stream processing and federated machine learning to extract and analyze data while giving organizations greater visibility. The company plans to use its new funds to accelerate recruitment, marketing and product innovation growth.
#2. $85 million, May 10
CLM software startup SirionLabs raised $85 million in a Series D funding round led by Partners Group. SirionLabs uses AI to streamline and automate lengthy processes like creating new contracts. The platform pulls language from previous contracts as well as data and records to create new contracts with ease. The company plans to use its new funding to hire 200 employees, focusing on AI and UX positions. As part of the funding round, the managing director of Partners Group’s Private Equity Technology division Cyrus Driver joined the company’s board.
#1. $400 million, May 4
Group14 Technologies develops and supplies advanced silicon-carbon technology for lithium-silicon batteries, many of which are used in electric vehicles. The startup raised $400 million in Series C funding led by Porsche AG and plans to use the new funds to break ground on its second U.S. Battery Active Materials factory in Washington.