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
DevZero, Founded by Ex-Uber Engineers, Raises $26M to Expand Cloud DevOps Platform
DevZero, a Seattle-based DevOps startup founded by former Uber engineers Debo Ray and Rob Fletcher, raised $26 million to expand its cloud development platform. The platform, now generally available, is used by companies like Okta and Carta to create production-like environments on local devices for Kubernetes and serverless development.
Seattle Startup Esper Cuts 21% of Staff Amid 2023 Business Uncertainty Following $100M Funding
Seattle startup Esper laid off 21% of its workforce in its second reduction within seven months, citing an unpredictable 2023 business environment despite strong 2022 growth. Founded by Yadhu Gopalan and Shiv Sundar, Esper offers a DevOps platform for managing Android device fleets and has raised $100 million to date.
Ex-Apple Engineers Launch Seattle's XetHub with $7.5M Seed to Accelerate AI Application Development
Seattle-based startup XetHub, founded by three former Apple engineers, raised $7.5 million in seed funding to develop a data storage platform for AI and machine learning application developers. The company aims to streamline code writing and deployment for intelligent applications, targeting businesses adopting AI beyond major tech players.
IA40 Spotlight: A-Alpha Bio's David Younger on machine learning in biotech, building cross-functional teams
This week on Founded & Funded, Partner Chris Picardo is talking with A-Alpha Bio Co-founder and CEO David Younger for our first Intelligent Application 40 Spotlight episode of 2023. We announced the 2022 IA40 winners in October, and A-Alpha was the first biotech company to make the list, which was no surprise to us. As one of our portfolio companies, we know the work David and his team are doing at the intersections of biological and data/computer sciences will change the world — but having a group of judges agree with us makes us all the more certain. Protein interactions…
UW Student Team Wins 2022 Madrona Prize for VOCAL Video Analysis Tech at Paul G. Allen School Showcase
A University of Washington student team won the 15th annual Madrona Prize for developing VOCAL, a video analytics system that extracts text-based data from unlabeled videos. The winning project, led by Ph.D. students Maureen Daum, Enhao Zhang, and Dong He, demonstrates strong research and commercial potential in video search technologies.
Seattle Startup MotherDuck Launches Serverless Analytics Platform With $47.5M Funding Led by Andreessen Horowitz
Seattle-based startup MotherDuck, founded by Jordan Tigani, unveiled its serverless data analytics platform built on DuckDB and announced $47.5 million in funding led by Andreessen Horowitz. The company aims to enable analysts to query data across multiple sources and plans a public beta release in March 2023.
Jane Park Launches Tokki Sustainable Gift-Wrap Startup, Raises Funds via StartEngine Equity Crowdfunding
Veteran entrepreneur Jane Park has chosen equity crowdfunding on StartEngine to raise capital for her sustainable gift-wrap startup Tokki, highlighting its lower barriers and broader investor participation compared to traditional venture capital. Park, who previously raised over $50 million for Julep Beauty from major investors, values crowdfunding for connecting with end users and offering an alternative fundraising method.
Madrona Summit Panel Highlights Shift from Big Data to Foundation AI Models Enabling Startups
At the Madrona Intelligent Applications Summit, experts highlighted that big data is no longer a priority as AI models now solve complex problems with less data. They emphasized advances in foundation AI models like DALL-E and GPT-3, which enable new startups but face challenges like hallucination and bias.
IA40 Spotlight: dbt Labs Founder Tristan Handy on the modern data stack, partnerships, and creating community
In this week's IA40 Spotlight episode of Founded & Funded, Madrona partner Jon Turow talks with dbt Labs Founder and CEO Tristan Handy. Here at Madrona, we just announced our 2022 IA40, and dbt Labs is one of our two-time winners. The company has positioned itself as the industry standard for data transformation in the cloud, and it raised $222 million at the beginning of the year, which was led by Altimeter, but Databricks and Snowflakes both participated in the round, further solidifying dbt's place and the modern data stack. Jon and Tristan dive into the concept of epistemic truth…
CommerceIQ to Acquire Seattle’s Ideoclick Assets for $475,000 Amid Receivership, Retain 59 Employees
CommerceIQ plans to acquire assets, including customer lists, from Seattle-based Ideoclick for $475,000 following Ideoclick's receivership due to financial struggles. The deal aims to retain Ideoclick's 59 employees and ensure service continuity to customers through November 30.
Latest News and Updates on Madrona Venture Group and Its Portfolio Companies
This article provides the latest news and updates about Madrona Venture Group and its portfolio companies.
TwinStrand Biosciences CEO Jesse Salk Steps Down Amid Layoffs; Chad Brown Named Interim CEO
TwinStrand Biosciences co-founder Jesse Salk has stepped down as CEO but will remain chief scientific officer and board member, with Chad Brown named interim CEO amid reported layoffs cutting nearly 50% of the workforce at the Seattle-based gene sequencing startup. The company, founded seven years ago and backed by a $50 million Series B round in 2021, declined to comment on the layoffs.
IA40 Spotlight: Fivetran CEO George Fraser on Data Replication and Connectors
This week Madrona Investor Sabrina Wu talks with Fivetran Co-founder and CEO George Fraser. Fivetran is fundamentally a data replication company — that's how George explains it. But the company actually started out trying to solve a completely different problem when it was founded in 2012 and pivoted to strictly data integration in 2015 after multiple customers started asking for help. But in attacking that problem differently than it had ever been done before — by only focusing on replicating people's data into the desired destination w/o getting sucked into any of the workflows that the user intended to do…
RealPage Acquires Seattle Apartment Property Management Startup Knock Founded in 2014
RealPage, a real estate technology company backed by Thoma Bravo, is acquiring Seattle-based startup Knock, which provides software for apartment property managers. Knock, founded in 2014 and serving over two million units, will retain its brand post-acquisition, though financial terms were not disclosed.
Seattle Startup Outbound AI Launches PayerVA Console to Automate Medical Insurance Claims Processing
Outbound AI, a Seattle startup spun out of Madrona Venture Labs with $7 million in seed funding, launched PayerVA Console, a software product that automates and expedites medical insurance claims processing by reducing time spent on payer communications. The tool transcribes calls, extracts key information, and assists human workers to alleviate burdensome tasks in the healthcare payment system.
Portland Travel Startup TrovaTrip Raises $15M Series A Led by Madrona After 10X Booking Growth
TrovaTrip, a Portland-based group travel marketplace founded by Nick Poggi and Lauren Schneider, raised $15 million in a Series A led by Madrona Venture Group after reporting 10X booking growth last year. The platform, which partners with social media travel hosts and tour operators, has over 15,000 travelers booked across 500 itineraries in 49 countries.
Madrona Venture Group Raises $690M Across Two Funds to Support Startups in Seattle and Nationwide
Madrona Venture Group has raised $690 million across two funds, marking its largest ever, to back startups primarily in the Pacific Northwest and nationwide. The firm plans about 40 venture investments with increased capital per company amid a strong U.S. venture market.
Seattle Startup Stack Raises $2.7M to Build Crypto Investing and Education Platform for Teens
Seattle-based startup Stack raised $2.7 million to develop its education-focused crypto investing platform for teens, aiming to differentiate with tailored content alongside investment tools. The company plans iOS and Android app launches, targeting a waitlist of 5,000, backed by investors including Madrona Venture Group and Santa Clara Ventures.
Seattle Startup Spice AI Raises $13.5M Seed Round to Build AI Infrastructure for Web3 Blockchain Applications
Seattle-based startup Spice AI raised a $13.5 million seed round to provide infrastructure for developers to build AI-driven applications on blockchain networks like Bitcoin and Ethereum. The platform indexes blockchain data for use in Web3 applications across sectors including financial services, fraud detection, and retail.
ExtraHop Hires Four New Executives After $900M Bain Capital Acquisition; Madrona and USAFacts Also Name Key Leaders
Seattle-based cybersecurity company ExtraHop, recently acquired for $900 million by Bain Capital and Crosspoint Capital, appointed four new executives including CFO Matt Parson and CMO Christine Nurnberger. Other regional tech moves include Madrona Venture Group hiring a new managing director and USAFacts appointing Michelle Broderick as CMO.
Madrona Venture Group Opens Silicon Valley Office to Expand Investments Beyond Pacific Northwest
Seattle-based Madrona Venture Group is expanding beyond the Pacific Northwest by opening its first Silicon Valley office to increase investments outside its home region. Since 2019, the firm has raised over $261 million for an acceleration fund targeting more mature companies across North America, with about 15% of its portfolio now outside the Pacific Northwest.
Humu Names Former Apptio CTO Scott Chancellor as CEO After $60M Series C Funding
Silicon Valley HR startup Humu appointed former Apptio CTO Scott Chancellor as CEO, following its $60 million Series C funding. Meanwhile, several Pacific Northwest tech firms announced executive hires including Madrona Venture Group, Mappedin, Skilljar, and Spaceflight.
IA40 Spotlight: Tesorio Co-founders Carlos Vega and Fabio Fleitas on Automating Accounts Receivable
In this IA40 spotlight episode, Managing Director Hope Cochran talks with Tesorio Co-founders Carlos Vega and Fabio Fleitas about getting finance teams out of the world of manual, error-prone and inefficient spreadsheets and equipping them with intelligent applications more common in other parts of a company. That's where Tesorio comes in — they offer automation solutions designed to help companies manage accounts receivable — in other words, they help companies turn their revenue into cash. The platform replaces that tedious and manual collections processes with accurate, real-time predictions, optimized workflows, and actionable insights based on behavioral trends. Tesorio raised a…
Amperity cuts 13 roles (3% of staff) amid reorganization while planning continued hires and investments
Seattle customer-intelligence startup Amperity laid off 13 employees (about 3% of its 375-person workforce), primarily from its talent acquisition team, while saying it will continue hiring and invest in growth. CEO Barry Padgett attributed the cuts to organizational alignment with strategic growth plans; the company became a unicorn in July 2021 after a $100 million raise and values at $1 billion.
Seattle Startup Tangibly Raises $1.3M to Expand Trade Secret Management Platform
Seattle startup Tangibly raised $1.3 million to enhance its trade secret management platform, supporting sales and product development. Founded by Tim Londergan and co-led by CTO Liat Belinson, the platform helps companies organize and control access to sensitive documents across industries.
Fund History
People
See all 15-
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
