The latest update to the GeekWire 200 rankings shows four newcomers to the top 10 and several startups making big moves up the list.
Our index ranks the Pacific Northwest’s top privately-held startups. It is derived from our broader list of more than 1,100 tech startups with headquarters in Washington, Oregon and Idaho, and British Columbia.
The rankings are generated using a weighted algorithm that accounts for social media followings, approximate employee counts (via LinkedIn) and inbound web links. Starting this year, startups that are either majority owned by private equity or 15 years or older do not qualify — which is why Blue Origin, founded in 2001, no longer holds the top spot.
Read on for takeaways from the latest rankings. See our Recent Fundings list for the latest Pacific Northwest startup deals and subscribe to GeekWire Startups for a weekly roundup of news, analysis and insights from the region’s startup ecosystem, delivered Friday.
Big takeaways
- There were four new entrants to the top 10: enterprise sales software provider Highspot; salon and spa software maker Zenoti; real estate company Flyhomes; and edtech startup Educative.
- Five startups in the GeekWire 200 appeared on our layoff tracker — including Qumulo, Convoy, Dutchie, Esper, and Ideoclick. This follows a national tech trend, as companies are reducing expenses and extending their runways in order to handle economic pressures. These startups laid off an average of about 60 employees, or nearly 16% of their workforces.
- Finance-related startups are the fastest growing category, with five companies entering the GeekWire 200. There are now 17 in the sector, up from 12 in 2021. The new entrants include Sila, Copper, PTO Exchange, Arrived Homes, and Formations.
- Two new cryptocurrency startups appeared on the GeekWire 200 since the start of the year, despite a tumultuous year for the industry. There are now four startups in the category, including Nori, Sila, Coinme, and StormX.
- Swiftly, a startup that provides software to brick-and-mortar grocery retailers, outperformed every other startup by moving up 90 spots in the list. It now ranks 96th, and it recently made headlines for raising $100 million to fuel growth.
- Hootsuite, a Vancouver, B.C.-based startup that allows users to manage social media posts, jumped to the No.1 spot. There is speculation that Hootsuite could go public sometime this year.
Other big movers
- Final Strike Games, a Redmond, Wash.-based startup developing video games, rose 52 spots. It is now ranked No. 146.
- Deako, a Seattle startup that sells smart lighting hardware, rose 45 spots. It is now ranked No. 154.
- Logixboard, a Seattle startup that sells software to freight forwarding companies, rose 41 spots. It is now ranked No. 146, and it recently raised $32 million.
- Legal Pad, a Seattle startup that helps companies apply for visas for their international employees, rose 35 spots. It is now ranked No. 131.
- Hyperproof, a Bellevue, Wash.-based startup that helps companies comply with state and international privacy and data protection laws, rose 34 spots. It is now ranked No.138.
Headlines
- Flexe, a Seattle startup that offers on-demand warehousing space for online retailers and is ranked 17th on the list, became Seattle’s newest unicorn company. Its valuation pushed past $1 billion after it raised $119 million.
- Place, a Seattle startup that builds software for real estate companies, landed $100 million in a round led by Goldman Sachs Asset Management. The startup moved up 26 spots and is now ranked No. 51.
- Zap Energy, a Seattle-area startup recently added to the GeekWire 200, raised $160 million to fund its plans to generate electricity at scale from nuclear fusion. It is ranked No. 197.
- Echodyne, a Kirkland, Wash.-based startup building radar platforms, raised $135 million in June. It is ranked No. 109.
- Convoy, a Seattle trucking marketplace, raised $260 million in April, pushing its valuation past $3.8 billion. Less than two months later, it laid off around 90 employees, or about 7% of its workforce. It is ranked No. 4.
