When Surescripts pumped a strategic investment into Hillsboro-based healthcare startup Kryptiq, it seemed as if the writing was already on the wall—if the companies worked well together.
Well, things must have gone exceedingly well. Today, the two companies made that deal even more strategic. Surescripts has acquired Kryptiq for an undisclosed sum.
According to Mike Rogoway at The Oregonian:
It’s the latest in a string of Silicon Forest companies to sell. And like many of the others, Kryptiq plans to stay put.
The companies didn’t report terms of the deal, which cashes out Kryptiq shareholders who have held their stock for as long as a decade. The company raised $21 million in three rounds of $7 million each, most recently in 2006.
What’s more, it’s an exit for Seattle-based Voyager Capital, one of the more active venture capitalists in the Portland area. Other investments include Elemental Technologies, Act-On Software, and Chirpify.
The 10 year old company, run by former Intel standout Luis Machuca, has been oft recognized for its work environment. As such, it’s no secret that they’ve been a “most likely to succeed” candidate with a great deal of promise, especially after weathering the downturn that shuttered many of their peers.
For more information, see The Oregonian.
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In addition to Voyager, there is a lot of Portland angel money in Kryptiq. This is great news for the region!