Bing Partners with Wolfram Alpha, OVP Leads $30M Fate Deal, Redfin Rakes In $10M, & More Seattle-Area Deals News

11/17/09Follow @gthuang

Just when I thought venture deals, especially for software and tech companies, had headed south for the winter (or longer), the Northwest erupted with a slew of financings in the past week.

—But first, some serious biotech. Kirkland, WA-based OVP Venture Partners led a $30 million Series B round for Fate Therapeutics, a San Diego-based stem cell company with ties to the University of Washington, as Luke reported. Existing investors Arch Venture Partners, Polaris Venture Partners, and Venrock Associates also participated in the funding, as well as three strategic corporate investors—Astellas Venture Management and Genzyme Ventures were named.

—Seattle-based DocuSign, a maker of software to automate and control the process of electronic signatures, received a strategic investment from Second Century Ventures, the VC fund of the National Association of Realtors. The funding amount was undisclosed, but the money will be used to accelerate and extend DocuSign’s efforts with real estate customers.

—Beaverton, OR-based Avnera pulled in an $8 million equity round from undisclosed investors, according to a regulatory filing. The company’s previous investors include Bessemer Venture Partners, Redpoint Ventures, Jafco Ventures, Intel Capital, and DAG Ventures. Avnera was founded in 2004, and designs novel chips for wireless audio applications.

—Seattle stealth startup Doxo raised $5.25 million in equity financing, according to a regulatory filing and media reports. The investors were not disclosed, but David Feinleib of Mohr Davidow Ventures was listed on the SEC form as a director.

—Bellevue, WA-based Enroute Systems, a developer of software that helps companies manage their parcel-shipping logistics, closed a Series A funding round worth $810,000 from Keiretsu Forum, Zino Society, Puget Sound Venture Club, and angel investors. Next up, Enroute is looking to expand its customer base, including internationally in Europe and Asia.

—Seattle-based Redfin, the online real estate firm, raised a $10 million Series D funding round led by Greylock Partners. Existing investors Madrona Venture Group, Draper Fisher Jurvetson, Vulcan Capital, and The Hillman Company also participated in the round, which brings Redfin’s total funding to $30.8 million. Redfin, which turned profitable for the first time this year, said it will use the cash to expand its infrastructure for customer service, grow into new markets, and invest in R&D.

—Seattle’s Qliance Medical Management has been selected for a one-year pilot program to offer services to members of Washington state’s largest employee union, South Health & Wellness Trust, as Luke reported. Qliance runs primary-care health clinics that freeze out insurance companies and deal directly with patients.

—Seattle-based Widevine Technologies, a provider of content security software for online video operators, raised $7.25 million in equity financing, according to the VentureDeal database. Widevine is backed by investors including Constellation Growth Fund and VantagePoint Venture Partners.

—Microsoft’s Bing search engine team has formed a partnership with Wolfram Alpha, the advanced knowledge engine created by noted scientist and computing expert Stephen Wolfram. Financial details weren’t given, but the deal gives Bing users access to Wolfram Alpha’s algorithms and data on search topics like nutrition, health, and mathematics.

Gregory T. Huang is Xconomy's Deputy Editor, National IT Editor, and the Editor of Xconomy Boston. You can e-mail him at gthuang@xconomy.com or call him at 617-252-7323. Follow @gthuang

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