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perkinscoie.com

Investments

10

Portfolio Exits

4

Partners & Customers

8

About Perkins Coie

Perkins Coie LLP offers legal advisory services. The firm's practice areas include business law, bankruptcy and restructuring, environment and natural resources, estate planning and trust services, finance, intellectual property, labor and employment, litigation, product liability, real estate and land use, regulatory and government affairs, and taxation.

Headquarters Location

1201 Third Avenue, Suite 4900

Seattle, Washington, 98101,

United States

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Latest Perkins Coie News

United States: New Paid Sick Leave And Minimum Wage Laws In Washington State Effective January 1 - Perkins Coie LLP

Nov 30, 2023

To print this article, all you need is to be registered or login on Mondaq.com. Multiple new laws will take effect in Washington state beginningJanuary 2024, bringing changes to the state's minimum wage lawsand adding requirements under the state's Paid Sick LeaveLaw. Minimum Wage Increases at State and Local Levels Washington state will have the highest minimum wage in thecountry as of January 1, 2024. The state minimum wage will increaseto $16.28 per hour, a 3.4% increase over last year's minimumwage, and more than double the federal minimum wage, whichcontinues to sit at $7.25. The new minimum wage rate will apply to workers who are 16 yearsold and older. Employees who are 14 or 15 years old may be paid$13.84 per hour. Some cities in Washington mandate higher minimum wages. InSeattle, the minimum wage owed to employees is based on employersize. Effective January 1, 2024, minimum wage rates in Seattle willincrease as follows: EmployerSize Changes to Washington's Paid Sick Leave Law Washington's Paid Sick Leave Law requires employers toprovide workers at least one hour of paid sick leave for every 40hours they work. The accrual starts on a worker's first day ofwork, but workers can't use earned leave until they havecompleted at least 90 days on the job. Washington state is updating its mandatory paid sick leaveprogram to cover construction workers who have missed out on thisbenefit. "Construction workers, by the nature of the trade andthe career, work for multiple employers even within a month. Theyare dispatched from union halls to go out to different employers,so they rarely hit that 90 days with a single employer," saidErin Frasier, assistant executive secretary of the Washington StateBuilding and Construction Trades Council. Effective January 1, 2024, employers with construction workerswho have not reached their 90th calendar day of employment will berequired to pay accrued but unused sick leave upon the worker'sseparation from employment. The change, prompted by Senate Bill5111, requires employers to pay out any unused leave on aconstruction worker's final check. This requirement will broadly apply to employers who haveworkers covered under the North American Industry ClassificationSystem (NAICS) Code 23 construction. However, employers engagedsolely in residential building construction (under NAICS 236100)will be exempt from this new requirement. Takeaways for Employers With the start of the new year fast approaching, employersshould check to ensure all nonexempt employees are earning at leastthe minimum wage. This is especially important for employers withemployees across multiple cities, given that the minimum wage mayvary. Now is also a good time for employers to review theirovertime policies to ensure employees are accurately characterizedas exempt or nonexempt and are being paid accordingly. Finally,employers with construction workers should review their policies toensure compliance with the updated requirements underWashington's Paid Sick Leave Law. © 2023 Perkins Coie LLP The content of this article is intended to provide a generalguide to the subject matter. Specialist advice should be soughtabout your specific circumstances. AUTHOR(S)

Perkins Coie Investments

10 Investments

Perkins Coie has made 10 investments. Their latest investment was in Swapt as part of their Pre-Seed on August 8, 2022.

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Perkins Coie Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/31/2022

Pre-Seed

Swapt

$0.55M

Yes

Andrew Bialecki, Asymmetric Capital Partners, Ed Hallen, and Undisclosed Angel Investors

2

6/7/2022

Series A

Ledgible

$20M

Yes

2

1/9/2020

Seed VC

Dot.LA

$4M

Yes

9

8/12/2019

Seed VC

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$99M

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10

8/2/2017

Seed VC - II

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$99M

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10

Date

8/31/2022

6/7/2022

1/9/2020

8/12/2019

8/2/2017

Round

Pre-Seed

Series A

Seed VC

Seed VC

Seed VC - II

Company

Swapt

Ledgible

Dot.LA

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Amount

$0.55M

$20M

$4M

$99M

$99M

New?

Yes

Yes

Yes

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Co-Investors

Andrew Bialecki, Asymmetric Capital Partners, Ed Hallen, and Undisclosed Angel Investors

Sources

2

2

9

10

10

Perkins Coie Portfolio Exits

4 Portfolio Exits

Perkins Coie has 4 portfolio exits. Their latest portfolio exit was Scene7 on May 07, 2007.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/7/2007

Acquired

$99M

4/20/2006

Acquired

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$99M

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0

12/10/2004

Acquired

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$99M

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0

12/20/2000

Acquired

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$99M

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0

Date

5/7/2007

4/20/2006

12/10/2004

12/20/2000

Exit

Acquired

Acquired

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

Acquirer

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Sources

0

0

0

Perkins Coie Partners & Customers

8 Partners and customers

Perkins Coie has 8 strategic partners and customers. Perkins Coie recently partnered with OrangeBiomed on June 6, 2022.

Date

Type

Business Partner

Country

News Snippet

Sources

6/18/2022

Partner

South Korea

1/7/2022

Partner

United States

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10

10/14/2021

Client

United States

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10

10/30/2019

Vendor

United States

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10

5/10/2016

Vendor

United States

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10

Date

6/18/2022

1/7/2022

10/14/2021

10/30/2019

5/10/2016

Type

Partner

Partner

Client

Vendor

Vendor

Business Partner

Country

South Korea

United States

United States

United States

United States

News Snippet

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Sources

10

10

10

10

Perkins Coie Team

7 Team Members

Perkins Coie has 7 team members, including current Chief Financial Officer, Trevor Varnes.

Name

Work History

Title

Status

Trevor Varnes

Chief Financial Officer

Current

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Name

Trevor Varnes

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Work History

Title

Chief Financial Officer

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Status

Current

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