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
TaxBit raises $130M at $1.33B valuation after opening Seattle HQ, led by IVP and Insight Partners
Cryptocurrency tax and accounting startup TaxBit raised $130 million at a $1.33 billion valuation after opening a second headquarters in Seattle; the company plans to double its workforce, expand U.S. and U.K. offices, and recently partnered with the IRS. The Series round was led by IVP and Insight Partners with participation from Madrona Venture Group.
Former Facebook Seattle Head Vijaye Raji Raises $10.4M Series A for Statsig to Speed Feature Rollouts
Vijaye Raji, a former Facebook and Microsoft engineering leader, raised $10.4 million in Series A funding for Statsig, a Kirkland startup that helps developers quickly roll out and measure product features. Sequoia Capital, Madrona Venture Group and angel investors participated, and the company aims to bring Facebook-style experimentation tools to broader developer teams.
Microsoft acquires Seattle AI spend-analysis startup Suplari, to integrate with Dynamics 365
Microsoft has acquired Seattle startup Suplari, which uses AI to analyze procurement and spending data and manages over $180 billion in spend; Suplari’s Spend Intelligence Cloud will remain available to existing customers and will be paired with Microsoft Dynamics 365. Terms were not disclosed; Suplari — a 40-person company founded in 2016 that raised $18 million — provides AI-driven cost-savings and risk insights across enterprise systems.
DataRobot buys Seattle ML startup Algorithmia and raises $300M Series G at $6.3B valuation
Boston-based DataRobot acquired Seattle startup Algorithmia and announced a $300 million Series G at a $6.3 billion valuation; Algorithmia CEO Diego Oppenheimer will remain at DataRobot after the deal. Algorithmia, founded in 2013, had raised $37.9 million, served over 130,000 users, and employed 58 people.
Ridwell CEO Ryan Metzger grows Seattle recycling startup to 35,000 members across 40+ cities, adds Denver and hires 100+ employees
Seattle startup Ridwell, founded by CEO Ryan Metzger, has grown to over 35,000 members across 40+ Pacific Northwest cities, collecting hard-to-recycle household items for up to $14/month and employing more than 100 people. The company is expanding (recently entering Denver), hiring aggressively, and aiming for about 300 employees within a year while its founder says he’d prefer the need for the service disappear if climate change were solved.
Modulus Therapeutics, spun out of the Allen Institute for AI, raises $3.5M to engineer enhanced NK cell therapies
Modulus Therapeutics, a Seattle cell-therapy startup spun out of the Allen Institute for AI, raised $3.5 million in seed funding to use lab research and machine learning to engineer enhanced natural killer (NK) cells for anti-tumor therapies. Founders Max Darnell and Bryce Daines aim to develop a discovery platform to generate NK cell product candidates for larger cellular therapy companies.
Seattle startups raise record $3.1B in H1 2021, producing 12 local unicorns as Auth0 exits for $6.5B
Seattle-area startups raised a record $3.1 billion across 205 deals in H1 2021, driven by mega-rounds that produced at least 12 local unicorns and broader Pacific Northwest tech funding topping $5 billion. National VC activity and IPO/M&A dollar volumes are also surpassing prior records, with major exits like Auth0’s $6.5 billion acquisition by Okta highlighting regional maturation.
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.
Truveta raises $95M from 17 partner systems, gains access to >15% of U.S. patient records across 40 states
Seattle health-data startup Truveta raised $95 million in Series A funding from its 17 partner healthcare systems and added three new partners, giving it access to records covering more than 15% of U.S. patient care across 40 states. CEO Terry Myerson says the pooled data and insurance claims will let researchers and life sciences companies link treatments to outcomes to improve patient care and safety research.
Zeitworks Raises $2M, Jazz Ventures and Madrona Back ML Startup as Jay Bartot Becomes CEO
Seattle startup Zeitworks raised $2 million in new funding from Jazz Ventures and Madrona Venture Group and appointed Seattle tech veteran Jay Bartot as CEO, succeeding Ryan Windham. The company uses machine learning to analyze user interactions and recommend automation or augmentation to improve repetitive business processes and plans to expand pilot customers.
Seattle Tech CEOs — Icertis, Syndio, Qumulo, Remitly, Outreach, Convoy, Zenoti, Skilljar — Share First-Job Lessons That Shaped Their Careers
Seattle-area tech startup CEOs shared lessons from their first jobs—ranging from car washing to programming—highlighting practical skills, work ethic, and enduring lessons that shaped their leadership and product thinking.
Khosla Ventures leads $11M Series A for Seattle AI contract startup Lexion as revenue quadruples
Seattle startup Lexion, which uses AI to parse contracts and create searchable repositories, has quadrupled revenue and added 50 customers in four months. The 30-person company raised an $11 million Series A led by Khosla Ventures to expand from reporting into workflow features and accelerate growth.
TerraClear raises $25M Series A led by Madrona to scale Rock Picker robotic stone-removal tech
TerraClear raised $25 million in a Series A led by Madrona Venture Group to scale production of its Rock Picker robotic implement that removes rocks from fields, addressing annual rock-related costs of $5,000–$150,000 for medium to large US farms. The Bellevue startup has sold out its first run, will expand mapping and clearance services, and plans broader compatibility and production increases.
Nautilus Biotechnology (NAUT) goes public via SPAC, raises $345 million to commercialize proteome analysis
Nautilus Biotechnology, co-founded by Sujal Patel and Parag Mallick, is going public on Nasdaq as NAUT through a SPAC merger that raised $345 million to advance a new proteome analysis platform aimed at accelerating biomedical research and drug development. Institutional backers include Bezos Expeditions, Vulcan Capital and Madrona Venture Group, and the deal closes on the 25th anniversary of Patel’s arrival in Seattle.
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.
TerraClear Raises $25M to Advance AI-Powered Rock-Picking Farm Technology with Fully Autonomous Version in Development
TerraClear, an ag tech startup founded by Brent Frei, has raised $25 million to advance its AI-powered rock-picking technology that helps farmers clear rocks from their fields efficiently. The company’s robotic Rock Picker can handle rocks up to 300 pounds, working with minimal soil disturbance, and is currently on its 14th prototype.
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.
Esper raises $30M Series B led by Scale Venture Partners to expand DevOps platform for Android IoT fleets
Seattle-based Esper raised $30 million in a Series B led by Scale Venture Partners to expand its DevOps platform for managing fleets of company-owned Android IoT devices; the 100-person startup says revenue, customers and device installs surged in 2020. Total funding to date is $40.6 million and Esper targets industries using point-of-sale tablets, connected fitness gear and kiosks.
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.
TwinStrand Biosciences, led by Jesse Salk, raises $50M Series B from Section 32 to scale ultra-accurate gene-sequencing
TwinStrand Biosciences, co-founded and led by Jesse Salk, raised $50 million in a Series B led by Section 32 to expand its high-accuracy gene-sequencing technology for detecting rare mutations with applications in cancer detection, therapy monitoring, and safety testing.
GeekWire Names Common Room, Ozette, SeekOut, Shelf Engine and Strike Graph as 2024 Startup of the Year Finalists; Voting Open
GeekWire has announced five finalists for Startup of the Year — Common Room, Ozette, SeekOut, Shelf Engine, and Strike Graph — highlighting Seattle and Pacific Northwest entrepreneurship; community voting runs through April 30 and winners will be revealed May 20 at the virtual GeekWire Awards.
Coinbase IPO Soars to $85 Billion, Nets Windfalls for Early Backers Including Version One Ventures
Coinbase’s IPO pushed its valuation to $85 billion and delivered major returns to early investors like Version One Ventures, which made a highly profitable bet years ago. The article examines how Seattle and Pacific Northwest investors view crypto and blockchain as the region seeks to grow its fintech presence amid emerging local startups and initiatives.
Doorstead raises $12.5M Series A led by Madrona to expand guaranteed-rent property management
Doorstead, a San Francisco property-management startup founded by former Uber employees Ryan Waliany and Jennifer Bronzo, raised a $12.5 million Series A led by Madrona Venture Group to scale its guaranteed-rent service. The two-year-old company manages 300+ Bay Area properties, recently expanded to Los Angeles and Orange County, and charges ~8% management plus placement fees while guaranteeing owners upfront rent.
PlexTrac raises $10M Series A led by Madrona Venture Group and Noro-Moseley Partners; total funding $11M
Boise-based cybersecurity startup PlexTrac raised a $10 million Series A led by Madrona Venture Group and Noro-Moseley Partners, bringing total funding to $11 million. Its platform unifies red and blue teams to streamline penetration testing, reporting and remediation workflows for security teams.
Former Facebook Seattle Chief Vijaye Raji launches Statsig to bring feature-testing tools to developers
Vijaye Raji, a former Facebook engineering leader, founded Seattle-area startup Statsig to provide feature-testing and analytics tools (like feature gates and metric maps) to developers, with usage-based pricing and a free tier. The company hopes to democratize internal tools Facebook used, has competitors, disclosed no funding but attracted endorsement from investor S. 'Soma' Somasegar.
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
