Disease tracker Veratect on life support, looks for a buyer |
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Disease tracker Veratect on life support, looks for a buyer
Veratect appeared to be a rising star on the Seattle startup scene just eight months ago, led by an experienced high-tech CEO and backed with about $9 million in venture financing.
But things aren't looking so bright anymore. Veratect's Web site is no longer operational, and investors say the company is now looking for a buyer. The company's Twitter account, which boasts nearly 5,000 followers, hasn't been updated since December 22.
The Kirkland company, which provided an early alert system to corporations and government agencies about disease outbreaks, civil wars, droughts and other potential catastrophic situations, struggled to sign up customers and attract new financing, investors say.
At the time of Veratect's financing round last July, CEO Bob Hart said that the company was gaining momentum. Hart is well known in entrepreneurial circles, having previously sold Tegic Communications to AOL and serving as CEO of a number of startup companies. He could not be reached for comment.
Veratect also had a high-profile board which included former University of Washington President Lee Huntsman and venture capitalists Denny Weston of Fluke Venture Partners and John Carleton Benaroya Capital.
The company -- which had employed about 40 people in Kirkland and Virginia -- received attention last spring as one of the first entities to notify government officials about a brewing problem with the swine flu outbreak.
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