Trucking software company Convoy reeled in the largest round of venture capital this year — raising $185 million. And tax management software company Avalara pulled in about the same amount through an IPO.
Four local companies each raised more than $100 million from venture capital investors this year, capping off a year of growth in the Seattle tech industry.
Washington state companies, mainly in tech, also launched four initial public offerings of stock in 2018. After soaring initially, most of those stocks have lost altitude this year amid a volatile stock market.
Here’s a look at local companies’ year of raising money, as well as some big acquisitions in 2018:
New public companies
Avalara: The Seattle tax-management software company, which recently opened a new headquarters near CenturyLink Field, raised about $180 million in its June IPO. Although Avalara’s stock soared 87 percent in its trading debut, it is now trading just 30 percent above its $24 offering price, closing Monday at $31.15.
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Smartsheet: The Bellevue project management software company raised about $150 million when it went public in April. The stock has increased 66 percent from its $15 IPO price. But Friday’s close of $24.86 is still below its June closing high of $32.21.
nLight: The Vancouver company makes semiconductor and fiber lasers for industrial and aerospace companies. It has more than 1,000 employees in offices in Vancouver, Hillsboro, Finland and Shanghai. The company’s April IPO raised about $100 million. The stock is up just 11 percent from its $16 IPO price, closing at $17.78 Monday after trading near $40 in July.
Coastal Financial: The Everett-based holding company for Coastal Community Bank raised nearly $40 million from its public debut in July. The bank has 10 branches and the majority of its loans are in commercial real estate. The stock has edged up 5 percent from its offer price of $14.50, to $15.23 Monday.
Another notable IPO in 2018 was Tilray’s public debut. The marijuana company is actually based in Canada, with offices in Nanaimo, B.C., and Ontario, but its parent company is Seattle’s Privateer Holdings. Tilray raised about $153 million when it went public in July. Tilray’s stock got a boost this month when the company inked deals with Anheuser Busch InBev to make marijuana spiked drinks, and with pharmaceutical company Novartis to collaborate on medical cannabis products. The stock has quadruped from its $17 offering price to $70.54 Monday.
Top VC financing rounds
Convoy: The Seattle trucking software company, which connects truck drivers to companies that need to move loads, raised $185 million in September in a round led by an investment fund connected to Google, according to PitchBook Data. Convoy, which was launched in 2015 by Amazon vet Dan Lewis, has more than 300 employees in its downtown Seattle office.
Spaceflight Industries: The Seattle space company raised $150 million from investors in March to help build out its BlackSky Earth satellite system.
Rover: The Seattle company, which makes a mobile app to match dog owners to sitters and walkers, raised $125 million this spring, partially to fund its European expansion.
Privateer Holdings: The marijuana holding company raised $100 million in January to keep expanding in the U.S. and Canada.
Notable mergers and acquisitions
Apptio: Bellevue IT management company Apptio was taken back to the private sector in November by private equity firm Vista Equity Partners, which bought the company for about $1.94 billion.
Juno Therapeutics: Ambitious Seattle biotech Juno Therapeutics, which spun out of Fred Hutch, was bought by biotech giant Celgene in a deal that valued Juno at about $9 billion.
The Polyclinic: The Seattle health-care provider was acquired by UnitedHealth Group for an undisclosed amount of money in November.
Oberto: Longtime Kent sausage maker Oberto was sold to Canadian food conglomerate Premium Brand Holdings in April. The headquarters is expected to remain local.