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Pacific Northwest tech companies announced more than $2 billion across 44 deals in the third quarter of 2024, according to GeekWire’s funding tracker. Clio’s $900 million Series F was the largest round in GeekWire’s list and accounted for nearly half of the quarter’s reported total. The roundup covers privately held regional tech companies and orders the deals as published; it does not state a ranking methodology.
What the Q3 2024 funding figures show
GeekWire reported more than $2 billion across 44 Pacific Northwest tech funding deals in July through September 2024. That compared with $382 million across 35 deals in Q2 2024 and $1.02 billion in Q3 2023. These are tracker figures reported by GeekWire, not a separately audited tally.
The quarter’s total was unusually concentrated in its largest disclosed round: Clio raised $900 million, nearly half of the region’s Q3 funding, according to GeekWire. The other listed rounds show activity across healthcare and biotechnology as well as cybersecurity, energy, software, and data companies.
The 15 rounds, as listed by GeekWire
Amounts and company descriptions below follow GeekWire’s ordered list. Because its article does not explain the ranking method or publish a complete deal dataset, the order should be read as the roundup’s presentation rather than an independently verified ranking.
| Company | Reported round | Company focus and location |
|---|---|---|
| Clio | $900 million Series F | Vancouver-area legal technology company |
| Kestra Medical Technologies | $196 million | Kirkland, Washington, cardiac monitoring and wearable defibrillator company |
| Borealis Biosciences | $150 million | Vancouver-area RNA medicines company |
| Outpace Bio | $144 million | Protein design startup developing treatments targeting solid tumors |
| Chainguard | $140 million | Seattle-region cybersecurity company |
| LevelTen | $65 million | Clean-energy marketplace company |
| Protect AI | $60 million | Seattle cybersecurity startup |
| Seeq | $50 million | Industrial analytics startup |
| Arzeda | $38 million | Seattle protein-design company developing proteins for food, pharmaceuticals, and other industries |
| QA Wolf | $36 million | Software testing company |
| Supio | $25 million | Seattle legal technology startup using AI to help lawyers analyze data |
| Viome | $25 million | Microbiome and diagnostics startup |
| Revefi | $20 million | Data observability startup |
| Kymeta | $20 million | Company receiving growth capital from Trinity Capital |
| ITpipes | $20 million | Software for municipalities to inspect sewer and storm systems |
Which sectors and places stood out?
Healthcare and biotechnology produced several of the largest rounds
After Clio, the list’s next three rounds were Kestra Medical Technologies at $196 million, Borealis Biosciences at $150 million, and Outpace Bio at $144 million. Kestra is based in Kirkland, Washington, and develops cardiac monitoring and wearable defibrillator technology. Borealis is a Vancouver-area RNA medicines company; its announcement described more than $150 million in combined Series A financing and strategic research collaboration funding. Outpace Bio is developing protein-designed treatments aimed at solid tumors.
Cybersecurity was another major category
Seattle-region cybersecurity company Chainguard raised $140 million, while Seattle startup Protect AI raised $60 million. These rounds put cybersecurity alongside healthcare and biotech among the most prominent sectors in the roundup.
The list spans the U.S. and Canadian Pacific Northwest
Clio and Borealis are based in the Vancouver, British Columbia area; Kestra is based in Kirkland, Washington. The roundup therefore treats the Pacific Northwest as a cross-border regional startup ecosystem, not just companies located in Washington or Oregon.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How to interpret the roundup
The figures are useful as a snapshot of announced private-company deals in a particular quarter, but GeekWire’s article does not give a formal ranking methodology or a complete underlying table. It also does not provide comparable valuation or investor details for all 15 companies. The list supports comparisons of disclosed round size, sector, and location, but not a full assessment of company value or investor activity.
Do these 3 things before closing this tab:
1Repair Windows errors before they cause bigger problems2Fix the driver behind crashes, sound loss and screen glitches3Clear out junk files and repair common Windows errorsThe quarter’s total also needs context: Clio’s $900 million round made up nearly half of the reported regional amount. The headline total therefore reflects a very large outlier as well as broader funding activity among the other listed companies.
For the broader venture climate, GeekWire quoted Carly Kiser, managing director of innovation economy banking at J.P. Morgan, saying she was “hearing increased optimism about fundraising.” She also said, “In Seattle, we are seeing continued momentum particularly from early-stage companies building in critical sectors like AI, cybersecurity, infrastructure and clean tech.” That observation is commentary on momentum, not a claim that all sectors or startups shared the same access to capital.
GeekWire also quoted the PitchBook-NVCA Venture Monitor report: “As liquidity remains elusive, increasingly cautious venture investors have stepped up their standards, opting for quality over quantity as they increase time spent on due diligence and advocate for more investor protections in term sheets.” Read alongside the Q3 deal figures, this points to a quarter with substantial announced funding but a broader venture environment that still emphasized selectivity.
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