Seattle Venture Capital Watch: Nohla, Auth0, Glowforge & More
A maker of a 3D laser printer and an A.I. algorithm startup are among the Seattle-area companies that have in recent weeks raised a notable funding round. Let’s catch up on some of the Emerald City deals action.
—Glowforge, a Seattle-based startup that sells 3D laser printers for designers, artists, and other tinkerers, received a $10 million investment from True Ventures and Foundry Group, Geekwire reported. Those two firms co-led Glowforge’s $22 million Series B funding round in mid-2016.
The startup, which previously raised nearly $28 million in pre-orders for a laser cutter and engraver targeted at hobbyists and other consumers, recently said it had launched sales of its line of devices. The basic model costs $2,495, the company said; that’s less than half the cost of Glowforge Pro ($5,995), which it says “is for serious makers, home entrepreneurs, and small businesses.”
Earlier this year, former Xconomy Seattle editor Benjamin Romano wrote a first-person account about pre-ordering one of Glowforge’s printers and his experience using the product after it finally reached his doorstep, following multiple delays.
—Nohla Therapeutics raised $45 million to continue mid-stage studies for its lead drug candidate, dilanubicel, an off-the-shelf cell therapy developed to provide bone marrow function. The Seattle company is testing dilanubicel in two Phase 2 clinical trials, one for patients who have blood cancers and are undergoing stem cell transplant treatment, and another for acute myeloid leukemia patients whose bone marrow activity is diminished as a consequence of chemotherapy. The Series B round of financing added Fidelity Management & Research Company and Celgene (NASDAQ: CELG) as new investors. Earlier investors ARCH Venture Partners, 5AM Ventures, Alexandria Venture Investments, and AML Biotech Partners also participated in the financing.
—Bellevue-based Auth0, which develops user identification and login tools for software developers and large businesses, said it raised $55 million from investors. The investment comes less than a year after Auth0 said it had raised $30 million as part of a Series C funding round. The latest round, which was led by Palo Alto, CA-based Sapphire Ventures, will allow Auth0 to continue its global expansion, the company said. It currently has satellite offices in London, Sydney, and Tokyo, and its revenues more than doubled in 2017, Auth0 said.
—SkyKick, a Seattle-based company that develops data backup and migration tools that interface with cloud products like Microsoft Office 365, said it raised $40 million from investors. The company, which said it has raised more than $65 million in outside investment since launching in 2011, said its products are used by IT professionals in more than 125 countries. Skykick said it plans to use some of the proceeds from the new funding round, which it said was led by a network of “insider” angel investors, to expand its line of cloud software management applications.
—Xnor.AI, which develops device-enhancing artificial intelligence technology, said it raised $12 million from investors as part of a Series A financing round. Madrona Venture Group, which like Xnor.AI is based in Seattle, led the round, according to a news release. The company’s vision is to make A.I. more efficient and widespread by having algorithms developed by Xnor run directly on smartphones and other devices equipped with commodity computer chips. Xnor said it will use some of the new money to speed up the development of a proprietary platform for software programmers it plans to launch in the fall.
Frank Vinluan contributed to this report.