The Venture Codex

Participated · Equity · Nov 2017

ExtraSlice operates a technology-focused flexible workspace and hybrid technology campus offering private offices, branded enterprise-ready suites, dedicated lines, video conferencing, and four-person pods for smaller teams. The company was founded by two software engineers in 2013 and has been entirely self-funded until this raise. Its first Bellevue location houses more than 80 technology companies and recently expanded to a second floor to accommodate growth. ExtraSlice is developing local and global networks of professional service and technology providers, plus expanded training programs to help member tech companies scale and collaborate. The company plans to apply the $1 million raise to physical and virtual technology infrastructure, space expansion, and sales and marketing. It also intends to open multiple Seattle-area facilities within the next year and to continue hosting technology-focused events and community programs.

Participated · Equity · Nov 2013

Zoomingo is a two-year-old mobile app that aggregates sales data from thousands of retailers (including Macy’s, JCPenney, Target and Nordstrom) and surfaces deals for mall shoppers. The app emphasizes social contributions—users can snap and share deal photos—and its community rates over 1 million items monthly via a “Hot or Not” game. Zoomingo added personalization features like a News Feed and currently sends geo-fenced alerts; it plans to build out a mall offer platform that will evolve to use Bluetooth LE (iBeacon) for indoor mapping and time-sensitive offers. The company has partnerships to pilot promotions in malls (notably an agreement with Simon Malls to promote the app in select Washington and California locations and award ZPoints). Operating metrics in the article include 1.3 million registered users on iOS and Android and a ten-person Seattle-based team; the app is often in the top 10 of the iTunes Catalogs section. With recent financing, Zoomingo is positioning its retailer platform for broader campaigns with mall operators and tenants. Zoomingo offers a mobile app that rounds up nearby sales from local retailers, aggregating data via manual and automated means plus crowd-sourced "Deal Scouts." The app pulls sales information from major retailers and claims access to 70,000 U.S. retail outlets. Founders Shirish Nadkarni (CEO) and Krishnan Seshadrinathan (CTO) previously co-founded language-learning service Livemocha. The company plans to use new capital to enhance its mobile application, build a retailer platform, and grow its community through expanded outreach to customers and retailer partners. Zoomingo was previously self-funded and has now secured outside financing. As part of the financing, Dayakar Puskoor of Naya Ventures will join Zoomingo’s board of directors.

Participated · Equity · Jul 2012

Zipline Games is a Seattle-based mobile game studio that develops consumer titles and a developer platform. The studio has released mobile games including Wolf Toss and Slots Tycoon for iPhone and Android. Zipline also builds Moai, a cross-platform development platform using the Lua programming language that provides cloud services like storage, leaderboards, achievements, and notifications. The company targets more advanced game studios—including console developers—seeking tools to build compelling mobile experiences. Moai has been used by studios such as Double Fine Productions and 6waves (StrikeFleet Omega), with apps reaching top 20 lists on the Apple App Store, Google Play, and Chrome Web Store. Zipline employs 16 people and plans to use the recent funding to create more games and accelerate development of Moai, with partner announcements forthcoming.

Participated · Series C · Jul 2011

Swype develops a patented text input technology that enables faster, easier word entry across devices including phones, tablets, game consoles, kiosks, televisions and in-car displays. Founded by CTO Cliff Kushler and Randy Marsden and led by CEO Mike McSherry, the company released Swype 3.0 with features such as predictive tap, horizontal word choice, and an optimized design for Android Honeycomb tablets. Swype intends to use the new capital to expand internationally and to adapt its technology beyond phones and tablets to platforms such as game controllers, TVs and in-car displays. The company has grown to more than 80 employees and recently opened offices in North Carolina, Massachusetts and Korea. Financially, Swype raised an additional $2.5M in Series C, adding to $3.5M raised in March to bring the Series C total to $6M; the company previously raised $5.6M in Series B. Swype develops a touchscreen text-entry system that lets users enter words by swiping a finger across a virtual keyboard rather than tapping each letter. The interface suggests words and users select by swiping through the correct word, enabling most users to type above 40 words per minute versus roughly 30 wpm with normal text entry. The company reports its algorithms reach about 95% accuracy and that the technology works across multiple operating systems and device types, from phones to game consoles. Swype was founded in 2002 by Cliff Kushner, co-inventor of T9, and he self-funded the company for a long time before raising outside capital. The company has about 20 employees and has already been integrated into the Samsung Omnia II. After raising $5.6M in a second round, Swype plans to use the proceeds to get its technology into more mobile phones and other devices.

Participated · Series A · Jun 2011

buuteeq is a Seattle-based cloud digital marketing system for hotels offering a comprehensive suite of online services. Its platform helps hotels create and manage effective websites, engage guests on social and mobile channels, and implement direct online reservations to improve their bottom line. The company is led by co-founder and CEO Forest Key. buuteeq has raised $10M in funding to expand its product offerings. It plans to use the capital to grow its customer base beyond North and Latin America, with particular focus on Asian growth markets and Western Europe. The company is also hiring and positioning its services to drive direct bookings and revenue for hotel customers. buuteeq offers a subscription DMS that bundles a content management system, multi-channel digital marketing, content publishing, online reservations and integrated business intelligence for independent hotels. Hotels upload assets to a web-based BackOffice and populate websites, mobile apps, Facebook pages and booking engines without custom development. The company launched its DMS in January 2011 and has brought hotels online in more than 10 countries, serving properties from <10-room inns to hotels with 100+ rooms and room rates of $20–$500 per night. A customer reported a 20% rise in direct bookings after adopting buuteeq’s solution. buuteeq was founded in February 2010 by Forest Key and Adam Brownstein and is headquartered in Seattle. The company closed a $3.5M Series A and will use the proceeds to expand DMS capabilities and drive worldwide adoption.