Zulily Raises $6M More, Korrio Nabs $3.3M for Youth Sports Automation, & More Seattle Area Deals News
Although it’s been another slow week for Seattle-area technology deals, there have been a few notable financings and one pretty sizable acquisition. Of the three deals this week, two fell into the online space, while the third was in the security and software sector. Take a look at this week’s highlights:
—Seattle-based private-sales website Zulily raised $6 million more in Series B financing led by August Capital, and existing Seattle-based Maveron. The 6-month-old e-commerce company offers daily deals for national baby gear, children’s apparel, kid’s toys, and maternity brands. The company rolled out of stealth with a $4.6 million Series A back in December. Since then co-founder and CEO Darrell Cavens says Zulily has grown faster than expected, expanding its product base to offer around 500 available items every day.
—Online youth sports startup Korrio, based in Mercer Island, WA, has raised $3.3 million in equity, according to a regulatory filing. The company, formerly known as iPlaySportz, is developing a cloud-based platform that uses Web technology to organize and automate youth sports information and registration for families, players, coaches, and fans. The company, still in its early stages, is headed up by former Isilon Systems CEO and senior executive at F5 Networks Steve Goldman.
—Texas-based Tektronix Communications, a networking software firm now owned by tech conglomerate Danaher (NYSE: DHR), has agreed to acquire Chelmsford, MA-based security and network management software developer Arbor Networks for an undisclosed amount. Although this doesn’t have a direct Northwest connection, Tektronix Communications is affiliated with Oregon tech institution Tektronix, which was acquired by Danaher for $2.85 billion in 2007.
—This isn’t exactly a deal, but it does speak to venture capital trends in Seattle and other tech hotspots including San Francisco, San Diego, and Boston. In the last week Menlo Park, CA-based VentureDeal released its IPO activity report for the first half of 2010, which indicated that though IPOs are still weak, they show an distinct improvement from the first half of 2009. Although only one of the 21 venture-backed technology or life sciences companies that went public in the U.S. in the first half of 2010 was in Seattle, it brought in a pretty heft amount. Bellevue, WA-based Motricity (NASDAQ: [[ticker: MOTR]]) went public in June with an IPO of $50 million.
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