Microsoft layoffs | Top startup deals from Q4 | Accolade to be acquired for $621M

Venture capital funding to startups based across the Pacific Northwest rose more than 20% year-over-year during the fourth quarter of 2024, a sign of positive momentum for the early stage startup scene in Seattle and the broader region. See the top deals from Q4.

• Track the latest startup investments with our handy tracker. 

Seattle-based Accolade is set to go private again in a $621 million deal with Transcarent that brings together two health benefits companies. Read more.

In other healthcare tech news: Providence Ventures is spinning out of the Providence healthcare system to become an independent venture capital firm with the new name Allumia Ventures. We spoke with Allumia’s managing partner Jeff Stolte to learn more.

And in other M&A news: Contentstack, which helps brands store content and create personalized digital experiences, acquired Lytics, a Portland, Ore.-based startup that spent the past 11 years building a customer data platform. Read more.

Apple inked the biggest office lease in Seattle since the pandemic, taking 193,000 square feet in a building previously occupied by Meta, just south of Amazon’s headquarters. Read more.

Drivers parked along the side of the road at Seattle-Tacoma International Airport have become a growing concern for the Port of Seattle, which plans to use license-plate-reading tech to deter the activity. Read more.

Hot Links:

• Seattle VC firm Maveron makes its consumer-focused predictions for 2025. (Maveron)

• University of Washington School of Medicine researchers have been awarded a five-year CDC grant to study the spread of flu, COVID-19 and other respiratory illnesses to help guide public readiness and response. (UW Medicine)

• A smart ring developed by UW researchers lets users control home devices. (UW News)