| Startup
funding hit a six-year low in Seattle, driven by the macroeconomic
environment and higher interest rates, as GeekWire's regional tracker
observed a 79% YoY drop in investments in Q1.
"Fewer deals, lower valuations, and less capital being raised overall,"
said John Brust, partner at Seattle startup-focused law firm Wilson
Sonsini. - "It has changed the way that
we think about how to spend our next six months," said Melissa Haughey,
CEO of mapping company Proxi, adding that there is "a lot of silence"
about new rounds for startups.
- However, according to aggregated
data by Carta from Q1 2022 to Q1 2023, startup funding in King County,
Washington, reached $3.4B, ahead of Denver with $2.83B and Miami with
$2.27B.
- 9.4% of Washington state's population works in tech, the highest in the nation.
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