Bonanzle and PhysioSonics, Plus a Few New Kids on the Block in May’s Under the Radar Deals

Much like April’s “under the radar” roundup, this month a number of smaller, but still significant deals (between $100,000 and $1,000,000) have come through for a number of companies we’ve been following for some time. But we also saw a handful of companies for the first time in this month’s installment of local micro-deals compiled by New York-based CB Insights.

Kirkland-based Bonanzle has been much talked about in the online world since its founding in 2007. Last month the online marketplace nabbed $1,000,000 from a group of angel investors and a long list of VC firms, including Seattle-based players Voyager Capital and Ignition Partners, and the Bay Area’s Matrix Partners. But counter to what you might expect, it doesn’t compete with online shopping or auction powerhouses like Amazon and eBay because it specializes in less mainstream, more rare and eclectic pieces of merchandise. Bonanzle’s niche-within-a-niche strategy has paid off. The company was so profitable early on, it actually turned away eager investors wanting to get in on a good thing— and was recognized with a TisBest Seattle 2.0 award.

Another company that you may have heard of made the list last month—Bellevue’s own PhysioSonics, which brought in $750,000 in an Option to Acquire in May. The company, which was founded in 2000 as a spinout from the University of Washington, is working to develop the first automated ultrasound machine that can continually monitor blood flow in the brain. PhysioSonics brought in a $4 million investment led by Johnson & Johnson Development Corp. in 2008, and another $2 million in equity in June of last year.

One company that’s new on the radar for me is Seattle-based Centri Technology. This startup develops mobile data acceleration technology. That means it wants to make downloading files, browsing the Internet, and sending emails from mobile phones even faster (something anyone with a smart phone that’s been dropped one too many times can appreciate).

But enough of the talk up—here’s the list of “under the radar” company financings from May:

Bonanzle Kirkland, WA A marketplace for out of the ordinary items Equity $1,000,000
PhysioSonics Bellevue, WA A developer of blood flow monitoring ultrasound technology Option to Acquire $750,000
Opanga Networks Seattle, WA A provider of online media distribution services Equity


Atlas Guides , Bend, OR An online lead-generation company Equity $400,000
Centri Technology Seattle, WA A mobile streaming data acceleration company Equity $325,435
WaveTech Engines Redmond, OR A research and development laboratory Equity $220,000
Prepared Response Tacoma, WA A crisis management and emergency preparedness training company Debt* $130,000

*Includes options and/or warrants

Thea Chard is a correspondent for Xconomy Seattle. You can e-mail her at or follow her on Twitter at Follow @

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