Seattle’s Cloudentity Lands $2M in Funding for Its Secure Cloud Traffic-Management Product

GeekWire | Tom Krazit | January 31, 2019

“After realizing that it was building the same cloud security solution over and over again for consulting clients trying to manage traffic flowing between cloud services, Seattle’s Cloudentity went into the product business a year ago and just scored new funding from one of its key partners.

Previously known as Syntegrity Networks, Cloudentity relaunched itself as a product company a year ago and its 65 employees are now working on a product that helps companies using cloud-based microservices protect their internal traffic. According to a recent filing with the SEC, the company just raised $2 million out of an expected $5 million round in early January.”

Learn more about local job opportunities at WTIA member company Cloudentity.

Seattle Health Care Prediction Startup KenSci Raises $22 Million

Puget Sound Business Journal | Casey Coombs | February 7, 2019

“Health care tech startup KenSci has raised $22 million in Series B funding to expand globally…Seattle-based KenSci developed a machine-learning platform that predicts who will get sick, what they will come down with and how much it will cost, working with hospitals and health organizations to help predict costs…‘We are at the right place at the right time with the right team and there’s lots of demand for our offerings in the U.S. and globally,’ KenSci co-founder and CEO Samir Manjure said.

Manjure expects to add 30 to 40 people to its staff of 70. It expanded its engineering leadership last year with Amazon, Microsoft and Tableau veterans.”

Learn more about local job opportunities at WTIA member company KenSci.

Magnolia Medical Technologies Raises $20 Million to Expand Device Sales

Puget Sound Business Journal | Casey Coombs |January 30, 2019

“Magnolia Medical Technologies has raised nearly $20 million in Series C funding to ramp up sales of its flagship medical device and develop new devices.

New York-based RTW Investments led the round with participation from HealthQuest Capital, Sightline Partners and Canepa Healthcare.

The Seattle-based company plans to use the funds to expand sales of SteriPath, a medical device used to reduce false positives when diagnosing sepsis, a condition related to the body’s response to an infection…To staff these expanded operations, the company plans to grow its product development manufacturing teams in Seattle and its commercial and sales team around the country.”

Learn more about local job opportunities at Magnolia Medical.

Possible Finance Raises Another $4.3M to Change How People Get Small Dollar Loans

GeekWire | Taylor Soper | February 6, 2019

“The Seattle startup has reeled in another $4.3 million from existing investors to help fuel growth of its mobile-only loan program…The company offers loans of up to $500 and is similar to payday lenders — but with crucial differences. Borrowers have more time to pay back the money in installments and the repayments are reported to the credit agencies, which helps people rebuild their credit. Traditional payday loans are structured differently, so those payments don’t count for credit scores, helping trap consumers in a costly cycle of borrowing…Since launching in April 2018, the company has originated 13,000 loans and has 50,000 users on its waitlist. It has been growing revenue by 50 percent month-over-month and recently crossed a $1 million annual revenue run rate milestone. Huang said he sees a ‘clear path’ to profitability.

Possible Finance just launched in California; it also serves customers in Washington, Utah, and Idaho. The company has nine employees and expects to double headcount this year.”

Learn more about local job opportunities at Possible Finance.

Stably Tacks on $1.2M to Reduce Volatility in Digital Currencies

Xconomy | Jeff Buchanan | February 8, 2019

“Stably, a Seattle-based startup developing a service it claims can reduce investors’ exposure to volatility in Bitcoin and other digital currencies’ values, on Thursday announced it has raised $1.2 million in new funding to support Stably’s growth.

Digital currencies, or cryptocurrencies, have attracted significant investor attention and news coverage in recent years. One reason is more mainstream retailers have begun allowing consumers to purchase goods and services using digital currencies such as Bitcoin and Ethereum, rather than paying with cash. Another point of interest has been dramatic swings in some of these currencies’ values…Stably and other upstart tech companies want to help reduce those fluctuations by pegging digital currencies to U.S. dollars and other currencies backed by governments. Digital money collateralized by fiat currency are known as “stablecoins.” Staby calls its coin StableUSD, or USDS.”

Learn more about local job opportunities at Stably.