Washington Startups Raised $21.7M in December, Down from $44.4M in Previous Month
Just a quick recap of the venture deals in Washington state from the last month of 2009. Things really slowed down heading into the dead of winter, with just four venture financings, all in software and Internet, worth a total of $21.7 million (see table below). That’s less than half the money invested in November, when Washington-based companies saw $44.4 million put into 10 venture deals across healthcare, energy, and software.
That’s the official tally from ChubbyBrain, the New York-based maker of tools for investors, startups, and entrepreneurs. The figures include only companies headquartered in Washington state.
The good news, in my view, is that the December deals were all Series A or Series B financings of up-and-coming tech companies, all of whom we’ve been tracking at Xconomy. They ranged from LiveMocha, a Bellevue, WA, startup developing online language-learning software, to the brand new online-shopping startup Zulily in Seattle (both companies are backed by Seattle-based VC firm Maveron).
The fear is that, as the effects of the recession reverberate, venture firms will stay in triage mode and devote less of their energy to new startups and new ideas. So far, 2010 is looking a little more promising, but it’s still early.
Here is the recap of December 2009 venture deals in Washington: