Investment in Washington Startups Totaled $25M (or $51.4M, Depending on How You Count) in August

9/9/09Follow @gthuang

Last month sure seemed like a busy one for Seattle-area startup financings, especially for summer. But the hard data paints a much more modest picture. Venture capitalists invested $25 million into four companies headquartered in Washington state last month, according to data provided to Xconomy by ChubbyBrain, a New York-based information services company that develops tools for investors, startups, and entrepreneurs. There was also one debt financing for a Washington company, worth $10 million. Two other firms with Seattle offices, but whose headquarters are elsewhere, raised $16.4 in venture funding.

The deals were spread evenly across software, mobile, gaming, and energy. The biggest one was Bellevue, WA-based Apptio’s $14 million Series B financing from Madrona Venture Group, Greylock Partners, and new investors Shasta Ventures and Andreessen Horowitz Fund. Apptio makes software to help businesses manage their IT costs.

A couple of notes about the companies that did not make the table below. Bellevue, WA-based Smith & Tinker’s most recent venture round, which we and others reported in August, didn’t make the list, as it closed in July. (The company has raised $29 million in funding to date.) Jambool, a virtual currency startup founded in Seattle and now headquartered in San Francisco, raised $5 million led by Madrona. And Profibrix, a Netherlands-based healthcare company focused on stopping surgical bleeding, which has a Seattle subsidiary, raised $11.4 million led by Gilde Healthcare Partners.

Four of the six venture financings in firms with ties to Washington state were Series B rounds, versus one Series A round—Madrona’s $3 million investment in mobile social gaming startup Z2Live—and one unspecified round, Portland, OR-based Pivotal Investments’ $2 million backing of Seattle solar developer Tuusso Energy (an early-stage deal). Madrona was the most active Seattle-area VC firm in August, being involved in three of the Washington deals.

In addition to the venture deals, Seattle-based NewPath Networks, a wireless infrastructure company, raised $10 million in debt financing from Square 1 Bank, to help expand its distributed antenna systems in the U.S.

WA state venture deals in August 2009 (courtesy of ChubbyBrain)

Gregory T. Huang is Xconomy's Deputy Editor, National IT Editor, and the Editor of Xconomy Boston. You can e-mail him at Follow @gthuang