Seattle Venture Capital Watch: Crelate, Cyemptive, Blue Canoe & More
Businesses developing software to assist recruiters, corporate IT departments, and people learning to speak English are among the Seattle-area companies that have in recent weeks raised new funding from investors. Let’s catch up on some of the Emerald City Deals action.
—Crelate Talent, which is developing recruiting software used by staffing agencies, executive search firms, and other organizations, raised more than $5.3 million in equity funding from 22 investors, according to an SEC filing. On its website, Kirkland, WA-based Crelate says its candidate relationship management software allows recruiters to track people as they progress through the hiring process and includes dashboards that let users create custom views with information on their candidates. Launched in 2012, Crelate previously raised $1.7 million-plus from investors two years ago, a securities document shows.
—Cyemptive, a Snohomish, WA-based startup developing cybersecurity tools for businesses and government entities, said it raised $3.5 million from an unidentified group of “private investors.” The company says its software can help organizations reduce the risk of a ransomware attack and configure the firewall guarding their IT infrastructure, among other functions. Cyemptive, which says its leadership team includes former leaders at Microsoft (NASDAQ: MSFT) and the US National Security Agency, plans to use the money to accelerate product development.
—Blue Canoe Learning, which is developing speech recognition software to help people who aren’t native English speakers communicate with co-workers and clients, raised nearly $2.5 million in equity funding from 20 investors, according to an SEC filing. Bellevue, WA-based Blue Canoe, which bills itself as “the English pronunciation expert,” uses a combination of visual aids, touchscreen-based games, and other activities to help users improve their speaking skills. The three-year-old company was incubated at Seattle’s Allen Institute for Artificial Intelligence, and raised a $1.2 million funding round in 2017.
—Seattle-based Know Labs, which is developing non-invasive technology to detect and measure glucose, alcohol, and other substances in the blood, raised nearly $4 million across three investments disclosed to federal securities regulators in March. The investments are a mix of equity and other securities, filings show. Know Labs launched in 1998 and was formerly known as Visualant. The company previously focused on technology to identify the composition of chemical substances by measuring the light reflected off of a substance.
—Ventec Life Systems, which is developing a portable respiratory and life-support device, raised more than $4 million in equity funding from 16 investors, according to an SEC filing. Bothell, WA-based Ventec says its flagship Vocsn product weighs 18 pounds and combines the functionality of a ventilator, oxygen concentrator, nebulizer, and other devices. Launched in 2012, Ventec has raised more than $39 million from investors, securities documents show.
—Faraday Pharmaceuticals, which is developing treatments designed to reduce the risk of damage from reperfusion, the surging of blood back into tissue after an injury or medical procedure, raised $5 million from seven investors, according to a securities filing. Seattle-based Faraday launched in 2013, emerged from stealth mode the following year, and raised a $30 million Series A funding round in 2015.
—Jargon, a startup headquartered in Seattle developing software that helps users build applications for Amazon’s (NASDAQ: AMZN) Echo speakers and other voice-based virtual assistants, raised more than $1.8 million from 11 investors, according to an SEC filing. Launched in 2017, Jargon offers a software development kit that it says helps programmers organize and manage information in order to offer users a personalized experience when using the application.
—Rodeo Therapeutics, which is developing small-molecule therapies aimed at promoting regeneration and repair of different types of tissue, raised more than $4.2 million in equity funding from eight investors, according to a securities document. Seattle-based Rodeo has raised more than $13.3 million in outside funding since launching in 2017, SEC filings show.
—TableSafe, which is developing software allowing restaurant customers to pay the check at their table, without diners’ credit cards leaving their sight, raised more than $4 million in convertible debt funding, according to a SEC filing. Kirkland-based TableSafe was founded in 2010 as Viableware, but switched to its current name in 2014.