Fluke Venture Partners

Fluke Venture Partners is a venture capital firm based in Kirkland, Washington, specializing in early to mid-stage investments, primarily in technology, healthcare, and consumer-oriented sectors. The firm typically invests between $2.5 million and $4 million per company, including follow-on financing, with initial investments ranging from $1 million to $3 million. Fluke is open to seed stage investments, and its minimum investment can be as low as $0.5 million. The firm prefers to lead investment syndicates and seeks to hold board seats, although it may act as a board observer when not leading a deal. With a long-standing tradition of supporting entrepreneurs in the Pacific Northwest, Fluke Venture Partners aims to build a diverse portfolio of high-growth opportunities and has been involved in the early-stage financing of notable companies. The firm emphasizes integrity, discipline, and teamwork, striving to maintain the trust and confidence of its partners and the businesses it supports.

Kevin Gabelein

Managing Director

Denny Weston

Senior Managing Director

21 past transactions

PayScale

Venture Round in 2011
PayScale, Inc. specializes in cloud-based compensation software designed for both individuals and businesses. The company offers a suite of solutions including Insight Expert, which streamlines salary benchmarking and assists in setting pay ranges, managing pay increases, and generating executive reports. It also features tools for pricing jobs across various geographies and industries, along with Insight Lab, which provides HR professionals with data-driven compensation insights. In addition to software, PayScale offers professional services to evaluate and enhance current compensation structures, develop strategies, and provide ongoing management and training for effective compensation conversations. The company serves a diverse range of industries, including healthcare, manufacturing, and technology, and has a customer base of over 8,000 organizations, from small businesses to large corporations. Founded in 2002 and headquartered in Seattle, Washington, PayScale also has offices in Kentucky, Colorado, and North Carolina.

Vantos

Series B in 2008
VANTOS is focused on being the global leader in the Enterprise Investigation Management market. From minor office misconduct to international financial crimes, companies can spend millions of dollars conducting workplace investigations. They offer solutions that are responsive to their customers' evolving investigation needs.

Carena

Series B in 2008
Carena is a Seattle-based company that specializes in virtual healthcare delivery, leveraging a combination of technology and innovative care methods. The organization provides a virtual care model and a configurable technology platform designed to enhance patient access to high-quality healthcare services. Their offerings include nurse lines, virtual house calls, wellness programs, and care management, allowing consumers to access on-demand primary care services at any time and from any location. Carena's commitment to improving the healthcare experience is evident in its 24/7 availability, which aims to create a new source of referrals for health systems while prioritizing patient care and convenience.

Confirma

Series C in 2008
Confirma is the only company that develops and markets an MRI-CAD system, CADstream, revolutionizing MRI study analysis and reporting through automated and standardized processing. CADstream automates the analysis and interventional guidance of MRI studies, providing higher quality imaging studies, lower costs for radiology practices and improved communication tools for physicians and patients. CADstream can be integrated into any workflow scenario and is compatible with all MRI scanners and PACS.

Calidora Skin Clinic

Venture Round in 2007
Calidora Skin Clinic, located in Seattle, Washington, specializes in professional skincare treatments and products. The clinic focuses on anti-aging and skin rejuvenation solutions, catering to clients seeking to enhance their skin's appearance and health. Through a variety of services, Calidora aims to provide effective skincare options tailored to individual needs.

PacStar Communications

Series D in 2007
PacStar Communications, based in Portland, Oregon, specializes in advanced communications solutions tailored for military, government, and commercial applications. The company designs and produces a range of rugged, small form factor communications systems that include voice, data, and video capabilities. Its flagship offerings comprise the PacStar 4000-series for transportable communication, the lightweight PacStar 3000-series tactical radio kits, and customized PacStar 2000-series equipment for both standalone and networked field communications. Additionally, PacStar develops the IQ-Core software, which simplifies the management of these systems and enhances their security and reliability. The company also provides a Modular Data Center for hosting cloud and analytics applications, along with various support services such as design, logistics, installation, and training. Founded in 2000, PacStar serves a diverse clientele, including commercial IT customers and large institutions, with a focus on mission-critical communications, especially in remote or infrastructure-limited environments. As of November 2020, it operates as a subsidiary of Curtiss-Wright Corporation.

PayScale

Series C in 2007
PayScale, Inc. specializes in cloud-based compensation software designed for both individuals and businesses. The company offers a suite of solutions including Insight Expert, which streamlines salary benchmarking and assists in setting pay ranges, managing pay increases, and generating executive reports. It also features tools for pricing jobs across various geographies and industries, along with Insight Lab, which provides HR professionals with data-driven compensation insights. In addition to software, PayScale offers professional services to evaluate and enhance current compensation structures, develop strategies, and provide ongoing management and training for effective compensation conversations. The company serves a diverse range of industries, including healthcare, manufacturing, and technology, and has a customer base of over 8,000 organizations, from small businesses to large corporations. Founded in 2002 and headquartered in Seattle, Washington, PayScale also has offices in Kentucky, Colorado, and North Carolina.

SprayCool

Venture Round in 2007
SprayCool, Inc. specializes in developing and supplying thermal management and environmental isolation solutions for military and industrial applications across airborne, shipboard, and land-based environments. The company offers a range of products, including Multi Platform Enclosures that accommodate various configurations of 6U VME or cPCI cards, sealed transit case solutions that provide cooling and protection for commercial-grade rack mount systems, and custom solutions for data racks and component cooling in areas such as radar and high-performance computing. Additionally, SprayCool offers consulting services, including thermal assessments, product design, system integration, and project management, as well as implementation services encompassing training, testing, diagnostics, and customer support. The company serves diverse markets, including defense, aerospace, telecommunications, oil and gas, automotive, and semiconductor fabrication, primarily in the United States. Founded in 1988 and headquartered in Liberty Lake, Washington, SprayCool was previously known as Isothermal Systems Research, Inc.

Phoseon Technology

Venture Round in 2006
Phoseon Technology is the pioneer of semiconductor light matrix (SLM) technology. The company manufactures high intensity light sources and equipment that use SLM technology to enable faster, cleaner, and more efficient industrial processes for semiconductor inspection, lithography, and the UV curing of photopolymers in adhesives, inks, and coatings. Phoseon’s portfolio of products includes the RX series of high intensity UV light sources, the MX series of through-Silicon automated inspection systems, and the FX series of fluorescent measurement systems for organic materials. Founded in 2002, Phoseon is a venture-funded, privately-held corporation headquartered in Hillsboro, Oregon.

Carena

Series A in 2006
Carena is a Seattle-based company that specializes in virtual healthcare delivery, leveraging a combination of technology and innovative care methods. The organization provides a virtual care model and a configurable technology platform designed to enhance patient access to high-quality healthcare services. Their offerings include nurse lines, virtual house calls, wellness programs, and care management, allowing consumers to access on-demand primary care services at any time and from any location. Carena's commitment to improving the healthcare experience is evident in its 24/7 availability, which aims to create a new source of referrals for health systems while prioritizing patient care and convenience.

PacStar Communications

Series C in 2005
PacStar Communications, based in Portland, Oregon, specializes in advanced communications solutions tailored for military, government, and commercial applications. The company designs and produces a range of rugged, small form factor communications systems that include voice, data, and video capabilities. Its flagship offerings comprise the PacStar 4000-series for transportable communication, the lightweight PacStar 3000-series tactical radio kits, and customized PacStar 2000-series equipment for both standalone and networked field communications. Additionally, PacStar develops the IQ-Core software, which simplifies the management of these systems and enhances their security and reliability. The company also provides a Modular Data Center for hosting cloud and analytics applications, along with various support services such as design, logistics, installation, and training. Founded in 2000, PacStar serves a diverse clientele, including commercial IT customers and large institutions, with a focus on mission-critical communications, especially in remote or infrastructure-limited environments. As of November 2020, it operates as a subsidiary of Curtiss-Wright Corporation.

PayScale

Series B in 2005
PayScale, Inc. specializes in cloud-based compensation software designed for both individuals and businesses. The company offers a suite of solutions including Insight Expert, which streamlines salary benchmarking and assists in setting pay ranges, managing pay increases, and generating executive reports. It also features tools for pricing jobs across various geographies and industries, along with Insight Lab, which provides HR professionals with data-driven compensation insights. In addition to software, PayScale offers professional services to evaluate and enhance current compensation structures, develop strategies, and provide ongoing management and training for effective compensation conversations. The company serves a diverse range of industries, including healthcare, manufacturing, and technology, and has a customer base of over 8,000 organizations, from small businesses to large corporations. Founded in 2002 and headquartered in Seattle, Washington, PayScale also has offices in Kentucky, Colorado, and North Carolina.

Fios

Venture Round in 2005
Fios, provides electronic discovery management services for corporations, law firms, and litigation support companies. It offers electronic discovery services, such as evidence collection, processing, review, and production. The company also provides litigation readiness services, including litigation readiness assessment, electronically stored information content mapping, legal hold protocols, discovery response planning, FRCP 26(f) discovery conference preparation, discovery response staffing, discovery technology requirements, and information governance services. In addition, it offers project management processes, and procedures and technology services; and technology assessment consulting services. Further, Fios, Inc. operates information portals on e-discovery and compliance. The company was formerly known as Litigation Data Corporation and changed its name to Fios, in 1999. Fios was founded in 1999 and is headquartered in Portland, Oregon with additional offices in Dallas, Texas; and New York, New York.

Phoseon Technology

Series B in 2005
Phoseon Technology is the pioneer of semiconductor light matrix (SLM) technology. The company manufactures high intensity light sources and equipment that use SLM technology to enable faster, cleaner, and more efficient industrial processes for semiconductor inspection, lithography, and the UV curing of photopolymers in adhesives, inks, and coatings. Phoseon’s portfolio of products includes the RX series of high intensity UV light sources, the MX series of through-Silicon automated inspection systems, and the FX series of fluorescent measurement systems for organic materials. Founded in 2002, Phoseon is a venture-funded, privately-held corporation headquartered in Hillsboro, Oregon.

PayScale

Series A in 2004
PayScale, Inc. specializes in cloud-based compensation software designed for both individuals and businesses. The company offers a suite of solutions including Insight Expert, which streamlines salary benchmarking and assists in setting pay ranges, managing pay increases, and generating executive reports. It also features tools for pricing jobs across various geographies and industries, along with Insight Lab, which provides HR professionals with data-driven compensation insights. In addition to software, PayScale offers professional services to evaluate and enhance current compensation structures, develop strategies, and provide ongoing management and training for effective compensation conversations. The company serves a diverse range of industries, including healthcare, manufacturing, and technology, and has a customer base of over 8,000 organizations, from small businesses to large corporations. Founded in 2002 and headquartered in Seattle, Washington, PayScale also has offices in Kentucky, Colorado, and North Carolina.

Integrex

Funding Round in 2002
Integrex is a manufacturing services company that provides circuit-board assembly, system integration, and related services.

Midstream Technologies

Series C in 2002
MidStream Technologies(TM) has developed the world's first dedicated streaming appliance. One box can deliver 16,000 simultaneous broadband streams with unprecedented scalability. A multiple box configuration provides built-in load balancing, failover reliability and the power to deliver millions of concurrent streams. MidStream servers can support every popular streaming format simultaneously & allow for software and appliance upgrades in the field, extending hardware longevity and promoting cost savings.

NetMotion Software

Venture Round in 2001
NetMotion Software is a provider of mobile security and performance management solutions designed to enhance the productivity of mobile workforces across various sectors, including government and enterprise. Its flagship product, Mobility, is a mobile VPN solution that ensures seamless data connectivity for users as they navigate through different wireless environments. This software allows organizations to maintain optimal mobile performance, providing IT decision-makers with critical insights and control over devices, applications, and networks. With a focus on improving operational efficiencies and resolving performance issues in real time, NetMotion serves over 1,400 respected organizations, including those in public utilities, healthcare, communications, public safety, and transportation.

Midstream Technologies

Series B in 2001
MidStream Technologies(TM) has developed the world's first dedicated streaming appliance. One box can deliver 16,000 simultaneous broadband streams with unprecedented scalability. A multiple box configuration provides built-in load balancing, failover reliability and the power to deliver millions of concurrent streams. MidStream servers can support every popular streaming format simultaneously & allow for software and appliance upgrades in the field, extending hardware longevity and promoting cost savings.

Pacific Edge Software

Series B in 2000
Pacific Edge Software is a provider of an IT governance solutions that are practical to adopt and deliver fast time to value. The company's products and services enable organizations to optimize the performance of their IT portfolios through improved planning, evaluation, and alignment of initiatives with business objectives, thereby maximizing return on the enterprise's technology investments. Pacific Edge has helped organizations across a wide range of industries extend and mature their governance discipline. Founded in 1998, Pacific Edge is headquartered in Bellevue, Washington and is privately held.

Pacific Edge Software

Series A in 1999
Pacific Edge Software is a provider of an IT governance solutions that are practical to adopt and deliver fast time to value. The company's products and services enable organizations to optimize the performance of their IT portfolios through improved planning, evaluation, and alignment of initiatives with business objectives, thereby maximizing return on the enterprise's technology investments. Pacific Edge has helped organizations across a wide range of industries extend and mature their governance discipline. Founded in 1998, Pacific Edge is headquartered in Bellevue, Washington and is privately held.
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