While the Seattle tech news scene has had a bit of a slower period, several local innovators haven’t halted their efforts and have made significant growth moves. Learn what names raised new funding and how they plan to invest it. This is the Built In Seattle Weekly Refresh.
SpecterOps pulled in $25M. Cybersecurity company SpecterOps plans to scale R&D and fuel the adoption of its enterprise product following its fresh round of funding. SpecterOps developed an open-source software tool that helps teams identify attack paths within on-premises cloud environments. The company will also expand its services and training solutions with the funding led by Decibel Partners. [SiliconAngle]
Seattle Tech Quote of the Week
“Lexion is all about helping every team do more business, faster. We’ve proven how award-winning AI and no-code automation can accelerate legal tasks, but we’ve also seen other divisions adopting the software. Now we’re accelerating sales cycles, vendor agreements, security reviews, [requests for proposals] and even employment offers for departments where legal is not directly involved.” — Gaurav Oberoi, CEO of Lexion
Lexion raised $20M. Operations workflow platform Lexion aims to help sales, procurement, finance and technology teams accelerate legal work using artificial intelligence. The company said it grew significantly in 2022, tripling its revenue for the third consecutive year and expanding its customer base to include hundreds of organizations. With Series B capital led by Point72 Ventures, Lexion plans to enhance its core platform and AI capabilities. [Email]
Groundlight secured $10M. Madrona led the seed funding round for Groundlight, an AI company working to help organizations leverage computer vision to develop models for visual tasks. Its solution integrates into applications to interpret images programmatically using natural language processing. The company recently launched from stealth but was founded in 2019. [VentureBeat]
