The latest update to the GeekWire 200 ranking shows four newcomers in the top 10 and several startups making big strides on the list.
Our index ranks the best privately held startups in the Pacific Northwest. It’s derived from our broader list of more than 1,100 tech startups headquartered in Washington, Oregon and Idaho, and British Columbia.
The rankings are generated using a weighted algorithm that takes into account social media followers, estimated employee numbers (via LinkedIn) and inbound web links. Starting this year, startups that are either majority-owned by private equity or 15 years of age or older will not qualify. That’s why Blue Origin, founded in 2001, is no longer at the top.
Read on for takeaways from this month’s ranking. Check out our list of recent funding for the latest startup deals in the Pacific Northwest and subscribe to GeekWire Startups for a weekly digest of news, analysis, and insights from the region’s startup ecosystem, delivered Friday.
- There were four newcomers in the top 10: business sales software supplier high place† salon and spa software maker Zenot† real estate agent fly homes† and start up edtech Educational.
- Five startups in the GeekWire 200 appeared on our layoff tracker — including Qumulo, Convoy, Dutchie, Esper, and ideo click. This follows a national tech trend as companies cut costs and expand their runways to handle economic pressures. On average, these startups laid off about 60 employees, or nearly 16% of their workforce.
- Finance-related startups are the fastest growing category, with five companies competing in the GeekWire 200. There are now 17 in the industry, up from 12 in 2021. The new entrants include Sila, Copper, PTO Exchange, Arrived Homes, and formations†
- Two new cryptocurrencies startups have appeared on the GeekWire 200 since the beginning of the year, despite a tumultuous year for the industry. There are now four startups in the category, including: Nori, Sila, Coinmeand StormX†
- Fast, a startup that provides software to brick-and-mortar supermarket chains, outperformed any other startup by moving up 90 places on the list. Now ranked 96th, it recently made headlines for raising $100 million to fuel growth.
- Hootsuite, a Vancouver, BC-based startup that allows users to manage social media posts, jumped to the #1 spot. There is speculation that Hootsuite could go public sometime this year.
Other great movers
- Final Strike Games, a Redmond, Washington-based video game development startup, rose 52 places. It now stands at number 146.
- Deako, a Seattle startup that sells smart lighting hardware, rose 45 places. It now stands at number 154.
- logic board, a Seattle startup that sells software to shipping companies, rose 41 places. It is now at number 146 and has recently raised $32 million.
- Legal path, a Seattle startup that helps companies apply for visas for their international employees, rose 35 places. It now stands at number 131.
- Hyperproof, one in Bellevue, Wash. -based startup that helps companies comply with national and international privacy and data protection laws rose 34 places. It now stands at number 138.
- Bow, a Seattle startup that provides on-demand storage for online retailers and ranks 17th on the list, became Seattle’s newest unicorn company. Its valuation soared above $1 billion after it raised $119 million.
- Place, a Seattle startup building software for real estate companies, raised $100 million in a round led by Goldman Sachs Asset Management. The startup has moved up 26 places and is now at number 51.
- Zap Energy, a Seattle-area startup recently added to the GeekWire 200, has raised $160 million to fund its plans to generate electricity from nuclear fusion on a large scale. It’s at number 197.
- echodyne, a Kirkland, Washington-based startup building radar platforms, raised $135 million in June. It is at number 109.
- Convoy, a Seattle trucking marketplace, raised $260 million in April, pushing its valuation above $2.3 billion. Less than two months later, it laid off about 90 employees, or about 7% of the workforce. It’s at number 4.