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Washington Companies Score Fewer But Larger Venture Rounds in Q1

Xconomy Seattle — 

If it seemed a little quiet in venture capital investing around here so far this year, that’s because Washington state saw the fewest deals during the first quarter since 1996. But investors bet more money on the 19 companies that did close funding rounds during the first three months of 2015.

Venture capitalists put just over $299 million into the 19 Washington deals tracked in the MoneyTree Report for the first quarter. You have to go back to 2007 to find a larger first-quarter investment total. (That year, it was $360 million across 37 deals.)

The first quarter of 2014 saw 25 investments in Washington companies totaling $169.5 million.

Nationally, venture capital investing notched its fifth consecutive quarter in excess of $10 billion. With $13.4 billion invested across 1,020 deals, it was the biggest first quarter since 2000.

Here are the 19 Washington deals, as tracked in the MoneyTree Report by PricewaterhouseCoopers and the National Venture Capital Association based on data from Thomson Reuters:

  • Porch.com raised $65,949,800 from Battery Ventures, Capricorn Investment Group, Founders Fund, Lowe Enterprises Investment Management, Panorama Point Partners, Valor Equity Parters, and an undisclosed firm.
  • Donuts, Inc. raised $54,172,000 from TL Ventures and an undisclosed firm.
  • Chef raised $32,240,000 from Battery Ventures, and undisclosed firms.
  • Tune raised $27,000,000 from Accel Partners & Co, Icon Ventures, and Performance Equity Management.
  • Tempered Networks raised $20,050,000 from IDG Ventures USA, and Ignition Ventures Management.
  • Spaceflight Industries raised $19,250,000 from RRE Ventures, Razor’s Edge Management, Vulcan Capital Group, and an undisclosed firm.
  • Rover raised $16,000,000 from Foundry Group , Madrona Venture Group, Menlo Venture Corp, Technology Crossover Ventures, and an undisclosed firm.
  • Cardiac Dimensions raised $15,200,000 from Aperture Venture Partners, Arboretum Ventures, Life Sciences Partners BV, Lumira Capital Investment Management, MH Carnegie & Co, and three undisclosed firms.
  • Remitly raised $12,499,900 from DN Capital, Draper Fisher Jurvetson, QED Investors, and Trilogy Equity Partners.
  • PlayFab raised $10,001,200 from Benchmark Capital Management, Madrona Venture Group, Startup Capital Ventures, and an undisclosed firm.
  • Koru raised $7,500,000 from Battery Ventures, City Light Capital, First Round Capital, Maveron, and Trilogy Equity Partners.
  • Nlight Photonics raised $7,000,000 from two undisclosed firms.
  • Blue Box Group raised $3,999,900 from Founder Collective, Voyager Capital, and an undisclosed firm.
  • Algorithmics raised $3,000,000 from Runa Capital.
  • Cheezburger raised $2,740,000 from Madrona Venture Group.
  • Dato raised $1,000,000 from New Enterprise Associates, Inc.
  • Cadence Biomedical raised $960,000 from HealthTech Capital, and an undisclosed firm.
  • KinDex Pharmaceuticals raised $500,000 from an undisclosed firm.
  • Ossia raised an undisclosed sum from Global Brain Corp.