The company has spun out nine startups and will use the new investment, primarily from Boulder-based Foundry Group, to churn out more.
Pioneer Square Labs has raised $15 million from investors to keep its Seattle startup factory churning: coming up with ideas for new companies, finding entrepreneurs to lead them and launching new businesses.
The startup generator was formed in 2015 by several prominent local venture capital investors and quickly attracted funding from heavy hitters such as Bezos Expeditions, Maveron, Madrona Venture Group and Rich Barton.
Pioneer Square Labs now has a core team of 20 employees and has spun out nine startups, six of which have been publicly announced, said co-founder Greg Gottesman.
This latest investment round comes primarily from Boulder-based Foundry Group, as well as from existing investors, including 60 individuals and 12 venture capital funds.
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Pioneer Square Labs regularly kills business ideas at various stages of the vetting process, but the ones that make it have been in industries across the technology spectrum, including immigration tech, sales tax automation and esports.