Foundry, Techstars, Galvanize Align Behind Pioneer Square Labs

Three, local area companies heavily involved in the startup business are all part of the funding and launch of a new, startup venture called Pioneer Square Labs, which launched late Thursday morning. Pioneer Square Labs--which is based out of Galvanize's Seattle location--said it has raised $12.5M in a round led by Foundry Group, and also included Techstars Ventures, along with Bezos Expeditions, Greycroft Partners, Madrona Venture Group, Maveron, Menlo Ventures, MHS Capital, Sinclair Digital Ventures, Trilogy Equity Partners, True Ventures, Voyager Capital, and Vulcan Capital. The new "startup studio" is led by four startup and venture capital veterans, including Gregg Gottesman, Geoff Entress, Mike Galgon, and Ben Gilbert. As part of the funding, Pioneer Square Labs said that Foundry Group's Brad Feld joins the company's board.