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Repair Windows errors before they cause bigger problemsFix Now →Scan for outdated or missing drivers - takes under a minuteDriver Scan →Pacific Northwest startups raised $382 million across 34 disclosed deals in the second quarter of 2024, which runs April through June. That is the total GeekWire reported in its roundup published July 11, 2024. The largest single round was InduPro’s $85 million, which GeekWire identified as a Seattle biotech startup. Below is the full list of the top deals GeekWire named, followed by how the quarter compared with earlier periods and how to read figures like these.
Who raised the most in Q2 2024
GeekWire’s list ranks the largest disclosed rounds by amount. Two companies tied at $35 million, and GeekWire placed Hydrolix ahead of Boulder Care. The table reproduces the list as GeekWire reported it, including its location and industry labels.
| Rank | Company | Amount reported | Location | Industry (as labeled by GeekWire) |
|---|---|---|---|---|
| 1 | InduPro | $85 million | Seattle | Biotech |
| 2 | Hydrolix | $35 million | Portland, Oregon | Data storage and processing |
| 3 | Boulder Care | $35 million | Portland, Oregon | Healthcare |
| 4 | TraceAir | $25 million | Seattle | Construction software |
| 5 | Vilya | $21 million | Seattle | Biotech |
| 6 | Read AI | $21 million | Seattle | Video conferencing |
| 7 | RareCyte | $20 million | Seattle | Biotech |
| 8 | Dropzone AI | $16.8 million | Seattle | Cybersecurity |
| 9 | TerraClear | $15 million | Seattle | Agriculture technology |
| 10 | Reperio Health | $14 million | Portland, Oregon | Healthcare |
| 11 | Abett | $11.6 million | Not stated in GeekWire’s list | Not stated in GeekWire’s list |
| 12 | Overland AI | $10 million | Not stated in GeekWire’s list | Not stated in GeekWire’s list |
The ten largest rounds ranged from $85 million down to $14 million. Abett and Overland AI appear after those ten in GeekWire’s list, and the article does not give their locations or industry labels. The sectors across the list span biotech, healthcare, software, cybersecurity, agriculture technology, video conferencing, and autonomous vehicles.
How the quarter compared with earlier periods
GeekWire reported the quarter’s total in three ways: the dollar amount, the deal count, and comparisons with other quarters. The table below keeps those measures separate, because they do not move together.
#1 Best Overall
| Period | Companies or deals | Total raised | How GeekWire described it |
|---|---|---|---|
| Q2 2024 (April to June 2024) | 34 deals | $382 million | Reported total for the quarter |
| Q1 2024 (January to March 2024) | Not stated | Not stated | Q2 2024’s total was just below the previous quarter’s |
| Q2 2023 (April to June 2023) | Not stated | Not stated | Q2 2024’s total was nearly 50% lower than the year-earlier period |
| Q2 2022 (April to June 2022) | 63 companies | $2.1 billion | Cited as a comparison point |
The gap between 2022 and 2024 is large. GeekWire’s Q2 2022 figure covers 63 companies and $2.1 billion, while Q2 2024 covers 34 deals and $382 million. The article does not give the exact Q1 2024 or Q2 2023 totals, so readers should rely on its descriptive comparisons for those periods rather than calculating them.
What is shaping the totals
AI’s share of funding dollars
GeekWire reports that AI startups received nearly a third of all Q2 2024 funding dollars, attributing that figure to CB Insights. The article also says several of the region’s largest rounds went to startups focused heavily on AI. Treat the one-third share as CB Insights’ figure as reported by GeekWire, not as an independently verified count of Pacific Northwest deals.
Seattle and the PitchBook ranking
According to GeekWire, the Seattle region did not make PitchBook’s top ten metropolitan areas by total funding for the quarter. That is a statement about where Seattle ranked on PitchBook’s metro list. It does not mean the region lacked significant deals, and the Seattle-based names in the table above are evidence of that.
A shift in investor priorities
GeekWire frames the quarter as a move away from growth-at-all-costs investing and abundant venture capital, toward closer attention to profitability and company maturity. It quotes Bobby Franklin, CEO of the National Venture Capital Association, who said the industry is “supporting their most promising companies to maturity amid a historically challenging exit environment.” He added: “This has meant more inside and continuation rounds with valuations under unprecedented levels of scrutiny.”
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How to read a funding roundup like this
A roundup like GeekWire’s is useful for seeing where investor money went in a given period. It is less useful for judging any one company today. Keep these points in mind:
- The amount is a reported raise, not a valuation. The figures say nothing about a company’s valuation, revenue, or current financial health.
- The list is a snapshot of April through June 2024. Companies may have raised again, been acquired, or changed direction since. Check each company’s own announcements for its current status.
- Locations and industry labels are GeekWire’s. A company headquartered elsewhere but with a Pacific Northwest office may be counted differently in another tracker.
- Secondary reporting is not company confirmation. The roundup draws on GeekWire’s own funding tracker and on PitchBook and CB Insights data. Those are attributions, not confirmations from the companies.
- Compare like with like. Dollars and deal counts answer different questions. A quarter can have fewer deals and still a large total if a few rounds are big, and the 2022 comparison covers a much larger deal count.
For a personal-finance reader, the main takeaway is that the total signals how much investor capital reached Pacific Northwest companies in a given quarter. It does not indicate whether a particular employer is financially secure or whether its hiring plans will hold.
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