Concur
Facts
- HQ
- Bellevue, WA, US
- Sectors
- Software Development
- Founded
- 1993
- Employees
- 6562
- Stage
- null
SAP makes undisclosed investment in Icertis amid expanded partnership after SoftBank valued startup at $5 billion
Icertis, a Bellevue-based contract management startup, received an undisclosed investment from SAP as part of an expanded partnership; the move follows an October SoftBank investment that valued Icertis at $5 billion. The company previously raised $80 million in March and was valued at $2.8 billion then; total funding and exact SAP stake were not disclosed.
Brian Goldfarb named Tenable CMO; Elizabeth Hamren becomes Discord COO; Kurt DelBene confirmed as VA CIO; Madrona adds three strategic directors
Several tech industry hires and appointments: Brian Goldfarb is CMO at Tenable; Elizabeth Hamren is COO at Discord; Kurt DelBene confirmed as VA CIO; Madrona Venture Group added three strategic directors; Christina Mautz joined Panopto.
Rajeev Singh
Rajeev Singh is CEO of Accolade, the Seattle-based company providing millions of people and their families with an exceptional healthcare experience that is personal, data driven and value-based, so that they can live their healthiest lives. Last month was Rajeev’s sixth anniversary at Accolade – congratulations! Prior to joining Accolade, he co-founded Concur, the global leader in travel and expense management, in 1993. Concur went public (Nasdaq: CNQR) in 1998, and grew to more than $800mm in revenue, over 4,000 employees, and more than 25,000 customers before being acquired by SAP AG for $8.3 billion in 2014. Rajeev’s desire to…
Anthony Bontrager of WestRiver Group says he makes 3–5 PNW SaaS/AI investments yearly with $500k–$5M initial checks and $10M follow-on capacity
Anthony Bontrager, a former adtech founder and current investor at WestRiver Group, favors hands-on board involvement and invests in PNW SaaS/AI/ML companies with initial checks of $500k–$5M, targeting 3–5 new deals yearly and about 15–20 monthly pitches. He highlights Qorus Software as a standout portfolio company and emphasizes governance, go-to-market support, and follow-on reserves of ~$10M per company.
Spotnana raises $34M Series A led by Madrona and ICONIQ to modernize business-travel software
Spotnana, a business-travel software startup founded by Sarosh Waghmar and Shikhar Agarwal, raised $34 million in a Series A led by Madrona Venture Group and ICONIQ to offer an API-friendly, integrated travel platform with consumption-based pricing. The company, chaired by Concur co-founder Steve Singh and with former Expedia CFO Greg Stanger on its board, serves about 50 corporate customers and aims to modernize booking, spending visibility, and integrations with HR and expense systems.
Outreach names Melton Littlepage CMO and adds Stefan Schulz to board; ShelfEngine hires Kane McCord; Kaskada promotes Charna Parkey
Seattle sales enablement company Outreach (valued at $4.4B) named Melton Littlepage as CMO and added Stefan Schulz to its board; ShelfEngine hired Kane McCord as president and CRO after a $41M Series B; Kaskada promoted Charna Parkey to VP of product. The article lists several executive moves across Seattle-area startups and tech companies.
Amperity raises $100M Series D, becomes Seattle’s newest unicorn with $187M total funding
Seattle-based marketing startup Amperity raised $100 million in a Series D round, valuing it above $1 billion and bringing its total funding to $187 million. The company’s customer data platform helps brands like Alaska Airlines, Kroger and Starbucks unify fragmented first-party customer data to improve targeted marketing amid cookie restrictions and rising digital adoption.
Bain Capital and Crosspoint Capital to buy Seattle cybersecurity firm ExtraHop for $900 million; founders stay
Private equity firms Bain Capital and Crosspoint Capital will acquire Seattle cybersecurity startup ExtraHop for $900 million; the 14-year-old company, with about 1,000 customers and 500+ employees, reported $100 million ARR and expects 40% growth this year. Founders and current leaders will remain, the deal aims to accelerate growth and is expected to close this summer.
Madrona Venture Group’s Steve Singh Details Six Post-COVID Tech Trends and Reasons for Hope on GeekWire Podcast
Steve Singh, managing director of Madrona Venture Group and former CEO of Docker and Concur, joined GeekWire to discuss reasons for hope and six technology trends to watch as the Pacific Northwest emerges from the pandemic, in a special episode tied to the 2021 virtual GeekWire Awards.
Madrona's Steve Singh on 6 tech trends to watch post-COVID
The 2021 virtual GeekWire Awards were held this week, recognizing the top companies, innovators, entrepreneurs and technologies in the Pacific Northwest, as nominated and chosen by the GeekWire community — along with celebrity cameos. On this special episode of the GeekWire Podcast, we’re featuring highlights from a behind-the-scenes conversation with former Docker and Concur CEO Steve Singh, managing director of Madrona Venture Group, which was hosted for finalists in advance of the awards by GeekWire co-founder John Cook. See omnystudio.com/listener for privacy information.
Creative Destruction Lab to launch nine-month, equity-free Seattle accelerator with Microsoft and UW for 20–25 computational health startups this November
Creative Destruction Lab (CDL) is launching a Seattle hub this November at the University of Washington to run a nine-month, equity-free accelerator for 20–25 computational health startups in partnership with Microsoft and UW’s business, engineering, and computer science schools; UW students can shadow the program. The program is funded by founding members, enforces objective milestones with the possibility of booting nonperforming companies, and stems from UW’s Innovation Roundtable efforts led by Emer Dooley and others.
Madrona Venture Labs raises $8M and turns investors like Spencer Rascoff into co‑founders of spinouts
Madrona Venture Labs has raised $8 million for its fourth fund and introduced a model that makes investors — including Spencer Rascoff, Julie Larson-Green and Elena Donio — co-founders, board members, and advisors of its spinouts to attract talent and accelerate startup formation. Founded in 2014, the Seattle-based studio has spun out more than a dozen companies, including recent spinouts Zeitworks, Simplata, and Stratify.
Accolade to buy PlushCare for up to $450M, adding virtual primary care and expanding TAM to $200B+
Accolade will acquire virtual primary care startup PlushCare for up to $450 million, adding primary care to its benefits platform and expanding its addressable market to over $200 billion. PlushCare, founded in 2015, has served 400,000 patients, posted $35 million revenue last year, and will continue its direct-to-consumer business under Accolade.
Madrona hires John Torrey as first partner outside Pacific Northwest, expands Acceleration Fund investing to Texas and Utah
Seattle-based Madrona Venture Group hired John Torrey, its first investment partner based outside the Pacific Northwest, to help source and support Acceleration Fund investments from Texas and Utah as the firm expands geographically. Madrona also raised $161 million for its Acceleration Fund II and hired Katie Chiupka as manager of business development and partnerships.
Wyze names former Nike exec Francis Lee as first CFO; OutSystems raises $150M at $9.5B valuation as CMO relocates to Seattle
Wyze Labs named longtime Nike executive Francis Lee as its first CFO as the Kirkland smart-home startup expands after a Series A; OutSystems closed a $150M funding round valuing it at $9.5B while moving CMO Robson Grieve to Seattle. Additional regional moves include Lisa Nelson joining Flying Fish Partners as a venture partner and Apptio naming Kevin Meeks chief customer officer.
Amperity Adds Ciara to Board to Lead Corporate Social Responsibility and Community Initiatives
Seattle-based customer data platform Amperity appointed Grammy-winning singer and entrepreneur Ciara to its board to lead corporate social responsibility efforts and advise on community initiatives.
Armoire raises $3.5M from Satya Nadella, Aman Bhutani after pivoting to casual inventory and community tools
Seattle clothing subscription service Armoire adapted to pandemic-driven demand shifts by cutting costs, adding casual items, and building community-driven discovery tools, helping long-tenured members stay. The four-year-old startup raised $3.5 million from investors including Microsoft CEO Satya Nadella and GoDaddy CEO Aman Bhutani as it regains growth momentum.
Starbucks CEO Kevin Johnson Joins Board of Seattle Customer-Data Startup Amperity
Starbucks CEO Kevin Johnson is joining the board of Seattle customer-data startup Amperity, which provides software to connect disparate customer data for targeted marketing and counts clients like Alaska Airlines, Patagonia and Kroger; Starbucks was an early adopter of Amperity.
Tom Alberg invested in Amazon’s 1995 seed round, joined its board and co-founded Madrona to build Seattle’s tech scene
Tom Alberg invested in Amazon’s 1995 seed round, joined its board, and later co-founded Madrona Investment Group to back Pacific Northwest internet startups, helping shape Seattle’s tech ecosystem. His early bets and leadership influenced regional tech growth and left a legacy noted by Jeff Bezos and others.
Lighter Capital appoints Melissa Widner as CEO after layoffs; firm has invested $200M+ using revenue-based financing
Seattle alternative VC firm Lighter Capital named Melissa Widner as CEO; she succeeds Thor Culverhouse and joins a company that has deployed $200M+ via revenue-based financing and recently cut staff from ~80 to 23 before rising to 25 employees. Widner, a Sydney-based board member and former NAB venture managing partner, plans remote hiring as the firm seeks global growth.
Jane Zhang’s Remmie Health launches at-home ENT monitor after son’s repeated infections; raises $100,000+
Seattle entrepreneur Jane Zhang founded Remmie Health after her toddler suffered repeated ear infections, developing an at-home ear-nose-throat (ENT) monitor that captures images and video for telemedicine consultations. The startup has secured over $100,000 in initial funding, plans to sell the device and share telemedicine revenue, and aims to be a household brand for ENT self-care.
Accolade prices IPO at $22, raises $220M and debuts on Nasdaq at $1.2B valuation as shares jump 40%
Health benefits platform Accolade priced its IPO at $22 per share, raising $220 million and debuting on Nasdaq with a $1.2 billion valuation; shares rose over 40% to $30.90 in early trading. The Seattle- and Philadelphia-based company, led by CEO Raj Singh, serves employers with a subscription model and reported $132.5 million revenue for fiscal 2020, with four customers contributing 59% of that revenue.
Accolade files IPO to sell 8.75M shares at $19–$21, seeks up to $211M and ~$1B valuation; will trade as ACCD
Accolade priced 8.75 million IPO shares at $19–$21 to raise up to $211 million, aiming for a ~ $1 billion valuation and Nasdaq ticker ACCD, positioning itself as Seattle's first public company of 2020. The health benefits platform reported $132.5 million revenue and a $51.3 million net loss for the fiscal year ending Feb. 29, serves 1.6 million members across 58 corporate customers, and estimates a $24 billion total addressable market.
Ex-Docker CFO Brian Camposano launches stealth Seattle fintech Stratify; Concur founder Steve Singh named chairman
Former Docker CFO Brian Camposano launched a stealth Seattle fintech called Stratify after spinning out from Madrona Venture Labs, with Concur co-founder Steve Singh serving as chairman. The early-stage company — currently one employee and no public website — aims to use machine learning and AI to modernize corporate finance and deliver real-time insights for CFOs and finance teams.
Madrona Venture Group Leads $8.5M Investment in Vendor Management Startup VNDLY; Steve Singh Joins Board
Seattle-based Madrona Venture Group led an $8.5 million investment round in VNDLY, a Cincinnati-based vendor management startup, with Steve Singh joining VNDLY's board. VNDLY, founded in 2017, has raised a total of $57.5 million to help companies manage and pay their non-employee workforce.
People
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Mike Hilton Co-founder, Concur
