Facts
- HQ
- Madrona
- Sectors
- Financial Services
- Founded
- 1995
- Employees
- 135
- Stage
- Seed
- Last fund
- MADRONA VENTURE FUND X, L.P. · $489.6M · 2025 SEC Form D
- Funds raised
- 10 funds SEC Form D filings
- Total capital
- $1.7B SEC Form D filings
Madrona’s Matt McIlwain Interviews Starburst CEO Justin Borgman on Founding Starburst, Cloud Marketplaces, and Presto Renaming to Trino
Madrona’s Matt McIlwain interviews Starburst Data CEO and co-founder Justin Borgman about founding Starburst, lessons from his first startup Hadapt, the importance of cloud partnerships and marketplaces for startups, the renaming of Starburst’s query engine from Presto to Trino, and guidance on building future-proof architectures.
Qumulo CEO Bill Richter Discusses Microsoft Azure Partnership and Enterprise Collaboration on Madrona’s Founded and Funded
Madrona partners Matt McIlwain and Aseem Datar interview Qumulo CEO Bill Richter about building meaningful enterprise partnerships, including Qumulo’s recent launch of Qumulo on Azure as a Service with Microsoft. The episode explores why startups partner with large enterprises, how those partnerships create mutual value, and practical advice for making them work.
Madrona Appoints Sunny Gupta, Charlotte Hubbert and Mark Nelson as Strategic Directors after $500M+ Raise
Madrona Venture Group named Sunny Gupta, Charlotte Hubbert, and Mark Nelson as Strategic Directors to advise portfolio founders and support the investment team; the hires follow Madrona raising over $500 million in late 2020 and adding an extra $120 million fund for existing portfolio companies.
Spotnana investor recounts Concur-era 'Perfect Trip' vision and 2019 meeting with Sarosh Waghmar and Shikhar Agarwal
The author reflects on their time at Concur and the guiding vision called The Perfect Trip—an ongoing mission to reinvent corporate travel—and recounts meeting Sarosh Waghmar and CTO Shikhar Agarwal in 2019, whose startup and vision rekindled their interest in transforming travel.
Madrona Venture Labs Raises $8M Led by Madrona, Adds Former CEOs and Operators as Investors
Madrona Venture Labs (MVL), the incubation arm of Madrona Venture Group, has raised $8M with Madrona leading the round and brought on a roster of experienced operators and former CEOs as investors to help build spun-out companies. MVL will continue partnering closely with Madrona’s investment professionals on startups like Stratify and Strike Graph as it expands its incubation efforts.
Investor Reflects on UiPath’s Journey: Dines Founded in 2005, Product-Market Fit in 2015, Series C Investment in Early 2018
A reflection on UiPath’s path to its IPO, recounting founder Daniel Dines leaving Microsoft in 2005, UiPath finding product-market fit in 2015, and the author's firm investing in UiPath during its Series C in early 2018 and later helping recruit Ted Kummert as EVP of Products in 2020.
Madrona’s Elisa La Cava interviews Madrona Venture Labs’ Mike Fridgen and FFA’s Leslie Feinzaig on studios vs. accelerators
This Founded and Funded episode compares two paths to venture funding—startup studios (Madrona Venture Labs) and accelerators (Female Founders Alliance’s Ready Set Raise)—with Madrona investor Elisa La Cava interviewing Mike Fridgen and Leslie Feinzaig about how each model supports different types of companies.
Madrona Ventures Announces Investment in Rec Room, Citing 10M Players and 1M Creators
Madrona announced its investment in Rec Room, an online social gaming universe with over 10 million players and 1 million creators that offers easy cross-platform play and low-code content creation tools. The firm praised Rec Room’s founders, community-first approach, and alignment with trends in online communities and maker-focused development.
Madrona: Low-Code/No-Code Platforms Unlock Faster, Cheaper App Development and Broaden Who Can Build Software
Madrona's third investment-theme essay argues that low-code and no-code platforms will accelerate software adoption by enabling domain experts to build applications faster and widening the pool of people who can create software amid shortages of traditional developers.
Madrona hires Ishani Ummat as Associate to lead Pacific Northwest sourcing and portfolio support
Madrona Capital Group has hired Ishani Ummat as a new Associate; she graduated magna cum laude from the University of Washington, previously worked at Bain & Co, and will evaluate investments, develop themes, and support portfolio companies across the Pacific Northwest. She is interested in digital-physical customer experiences affecting fintech and healthcare and will engage with founders in Seattle, Puget Sound, Portland and Vancouver, BC.
Steve Singh Joins Madrona Venture Group as Managing Director to Back Next-Gen Entrepreneurs
Steve Singh has joined Madrona Venture Group as a managing director, transitioning from a long entrepreneurial career to venture investing to support and mentor the next generation of entrepreneurs. He emphasizes Madrona's focus on backing people, thematic investing in next-phase computing—especially Intelligent Applications—and helping founders build lasting companies.
Founded and Funded Episode 2: Amperity CEO Kabir Shahani on Building Culture, Values and Management Lessons
The Founded and Funded podcast interviews Amperity founder and CEO Kabir Shahani about building company culture and values since the company's 2017 launch, including a practical one-hour exercise Shannon Anderson shares for founding teams to create core values. The episode also discusses Amperity's client work, a company-only book that inspired the podcast, and lessons Shahani learned about management and entrepreneurship.
Lexion Raises $4.2M Series Seed Led by Madrona to Apply AI/NLP for Contract Management
Lexion, an AI/NLP contract-management startup spun from AI2 technology, announced a $4.2 million Series Seed round led by Madrona to help mid-market businesses extract and track key details from complex documents.
Madrona Ventures Invests in Ovation.io to Build Cloud Clinical Informatics for Genomic and Molecular Testing
Madrona announced its investment in Ovation.io, a cloud-based clinical informatics company founded by Barry Wark and Winston Brasor that builds tools to automate molecular testing lab workflows and unlock genomic and clinical data value.
Madrona promotes Troy Cichos to COO and Partner; Jennifer Chambers named Administrative Partner; Tasha Tieu joins as Controller; Ted Kummert becomes Chief Product Officer in Residence
Madrona announced administrative team changes: Troy Cichos promoted to COO and Partner, Jennifer Chambers promoted to Administrative Partner, Tasha Tieu hired as Controller, Ted Kummert’s role expanded to Chief Product Officer in Residence, and Hope Cochran named Managing Director. The moves support operations as Madrona manages nearly $1.6 billion across five active funds with a 35-person staff.
Madrona Joins Deloitte, Perkins Coie and Spencer Stuart to Support onBoarding Women, Backing Board Diversity Effort
Madrona announces it is joining Deloitte, Perkins Coie and Spencer Stuart in supporting onBoarding Women, a Seattle program that trains and places women on public company boards to boost board diversity. The program has graduated 35 women and helped place graduates on boards like Washington Federal; Madrona highlights portfolio examples such as Redfin, which has 25% women on its board and pledged to diversify startup boards.
Madrona Venture Labs names entrepreneur Jay Bartot as CTO, joining May 2017 to lead ML and big-data initiatives
Madrona Venture Labs has hired Jay Bartot as Chief Technology Officer; Bartot is a four-time cofounder with expertise in big data, machine learning, and computer vision, and his startups include Farecast, AdRelevance, Medify, and Vhoto.
Fund History
People
See all 16-
Bill Ruckelshaus Founder, Founder and Strategic Director
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Paul Goodrich Founder
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Steve Singh Founder, Co-founder of Concur and Managing Director
