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
Oren Etzioni - Founder of TrueMedia.org
Dr. Oren Etzioni is the founder of TrueMedia.org, a free-use product that allows critical election audiences from around the world to quickly and effectively detect deepfakes. He was the Founding Chief Executive Officer at the Allen Institute for AI (AI2), having served as CEO from its inception in 2013 until late 2022. He is Professor Emeritus at the University of Washington where he helped to pioneer meta-search, online comparison shopping, machine reading, and open information extraction. He has also authored several award-winning technical papers, and founded and sold many companies. In addition to his role at TrueMedia.org, he is currently…
Startup to Scale: A Mini Masterclass in Efficient Growth and GTM
In the latest episode of Founded & Funded, Madrona Managing Director Tim Porter hosts Pradeep Rathinam, a seasoned software executive with over three decades of leadership experience. Paddy was the Founder and CEO of Madrona portfolio company AnswerIQ, which Madrona invested in back in 2017. It was one of the early machine learning applied to SaaS companies that Madrona invested in. Paddy sold AnswerIQ in 2020 to Freshworks, where he started out as chief customer officer, helped take the company public, became chief revenue officer, and really drove a series of incredible accomplishments for Freshworks. Today, Tim and Paddy dive…
From Dark Matter to Voice AI with Deepgram Founder Scott Stephenson
Today Madrona Managing Director Karan Mahandru and Scott Stephenson, Co-Founder and CEO of Deepgram, a foundational AI company building a voice AI platform providing APIs for speech-to-text and text-to-speech. From medical transcription to autonomous agents, Deepgram is the go-to for developers of voice AI experiences, and they're already working with over 500 companies, including NASA, Spotify, and Twilio. Today, Scott and Karan dive into the realities of building a foundational AI company, meaning they're building models and modalities from scratch. They discuss the challenges of moving from prototype to production, how startups need to out-fox the hyperscalers while also partnering…
Temporal Founders Bet on Open Source and Developers to Enable Invincible Applications
Madrona Managing Director Soma Somasegar hosts Temporal Co-Founders Samar Abbas and Maxim Fateev in studio. Temporal was founded in 2019 based on an open-source microservices orchestration engine project but is the result of a more than decade-long partnership between the two co-founders that spanned their time working on different iterations of the same thing at AWS, Microsoft, and Uber. In this episode, Soma, Samar, and Maxim dive into the challenges of building an open-source ecosystem while also working on a commercial offering and scaling a successful company, how to navigate and adjust a product roadmap in an ever-changing world of…
Investor Spotlight: Chris Picardo on Cross-Disciplinary Innovation and Finding Unique Founders
In this episode of Founded & Funded, host Coral Garnick Ducken interviews Madrona Partner Chris Picardo for the latest Investor Spotlight. With degrees in math and English, Chris shares his unique journey into venture capital. Chris highlights the importance of cross-disciplinary skills in understanding and communicating complex concepts and what he looks for in founders, emphasizing unique worldviews and innovative approaches, particularly in AI, biotech, and consumer verticals. This is a great episode for entrepreneurs interested in working with VCs. (00:00) Introduction to Madrona Partner Chris Picardo (00:46) Chris Picardo: From Math and English to Startups (01:26) Chris's Transition to…
Transforming TV Advertising: iSpot's Sean Muller on the Role of AI and the Future of Streaming
In this episode of Founded & Funded, Madrona Venture Partner Len Jordan sits down with Sean Muller, Founder and CEO of iSpot, to talk about the company's evolution in measuring TV advertising for both conventional and streaming platforms. Sean delves into strategic partnerships, acquisitions, and the rise of ad-supported streaming. They discuss the impact of sports on advertising, challenges for marketers in balancing investments across various channels, and the innovative strides iSpot is making with AI-driven planning and real-time data. Tune in to explore the future of TV advertising and iSpot's role in shaping it. Transcript: https://www.madrona.com/transforming-tv-advertising-ispot-sean-muller-the-role-of-ai-future-of-streaming (00:00) Introduction (01:35)…
Investor Spotlight: Sabrina Wu on Founder Grit, Authenticity, and Building Intelligent Applications
In this episode of Founded & Funded, host Coral Garnick Ducken interviews Madrona Investor Sabrina Wu for the latest Investor Spotlight. These two discuss Sabrina's transition from private equity to venture capital and the learnings that translate to building successful VC-backed startups, Sabrina's focus on intelligent applications, and the characteristics she looks for in founders — grit, authenticity, and intellectual honesty. Sabrina also shares her approach to engaging with early-stage founders and her interests outside the office. This is a great episode for entrepreneurs interested in working with VCs. (00:00) Introduction (00:44) Sabrina Wu's Experience at Vector Capital (02:50) Transition…
Read AI's David Shim on Making Meetings More Efficient With Intelligent Agents
In this episode, Madrona Managing Director Matt McIlwain hosts David Shim, founder and CEO of Read AI. These two have known each other for over two decades, having worked together at Farecast and then Placed, which David founded in 2011. They came together again in 2021, when David started Read AI, which delivers AI solutions that make meetings, emails, and messages more valuable to teams with AI-generated summaries, transcripts, and highlights. In this episode, David and Matt examine how leveraging emerging technologies, getting engagement from multiple members of your ecosystem in the early days, and learning your way into a…
week of may 27: Coral Garnick Ducken - Madrona
Top Stories: 1. Expedia leaders are out Geekwire article/Seattle Times article 2. Synapse bankruptcy affects Seattle startup Geekwire article 3. Amazon AWS CEO change PSBJ article (CEO leaving) PSBJ article (new CEO) 4. OpenAI's new voice product Geekwire article 5. Local VC to launch startup community hub Geekwire article About guest co-host Coral Garnick Ducken - Digital Editor, Madrona: Prior to her current role as Digital Editor for Seattle VC firm Madrona, she was a content writer for Blueprint Technologies. Before that she was the Associate Editor at Puget Sound Business Journal after leaving Seattle Times as a business reporter…
Transforming Corporate Travel: A Conversation With Steve Singh and Christal Bemont
In this episode of Founded & Funded, Madrona Managing Director Steve Singh and Christal Bemont, CEO of Direct Travel, Madrona's newest portfolio company, delve into the acquisition of Direct Travel and its pivotal role in revolutionizing the $1.4T corporate travel ecosystem, along with @Spotnana , Troop, and Center. Full Transcript: https://bit.ly/3wxBFuT (00:00) Intro (01:19) Direct Travel: Transforming Corporate Travel Management (03:56) The Challenges of Modern Business Travel (07:43) The Perfect Trip: A Vision for Seamless Travel (10:06) Spotnana: Building the Next-Generation Travel Platform (16:27) Integrating Solutions: Center and Troop's Role in the Travel Ecosystem (20:58) Direct Travel's Strategic Vision and…
How Writer CEO May Habib Is Making GenAI Work For the Enterprise
Madrona Partner Vivek Ramaswami hosts May Habib, co-founder and CEO of Writer, a 2023 IA40 winner. Writer is a full-stack generative AI platform for the enterprise. In this episode, May shares her perspective on founding a GenAI company before the ChatGPT craze, building an enterprise-grade product and go-to-market motion with 200% NRR, whether RAG and vector DBs even have a role in the enterprise, the essential attributes she looks for when hiring, and some valuable lessons she learned from past experiences. It's a must listen for anyone building in AI. Transcript: https://www.madrona.com/writer-ceo-may-habib-generative-ai-platform (00:00) Introduction (01:00) The founding story of Writer…
Investor Spotlight: A Conversation with Madrona's Soma Somasegar
Hear from Madrona Managing Director Soma Somasegar as he discusses his path to venture capital by way of 27 years at Microsoft. He shares invaluable insights about what he looks for in a founder, the importance of passion in founders, the state of cloud technology, and the future of AI and Startups. Tim also shares Madrona's core principles, his favorite books for entrepreneurs, and his personal interests outside of work, including his passion for outdoor sports and the nonprofit Global Partnerships. This chat is a must-watch for aspiring entrepreneurs looking for insights into the venture capital world or strategies to…
Dust Founders Bet Foundation Models Will Change How Companies Work
Madrona Partner Jon Turow hosts Gabriel Hubert and Stan Polu, the co-founders of a 2023 IA40 winner, Dust, which enables information workers to create LLM-based agents that help them do their own work more efficiently. They discuss the broader AI/LLM ecosystem, the merits and potential of horizontal vs vertical solutions, limitations of AI assistants, and the influence of Stripe on their business. The founders dive into the future use cases and adoption of AI in businesses and also touch on keeping humans in the loop of AI and software development. Transcript: https://www.madrona.com/dust-bets-foundation-models-change-how-companies-work/ (00:00) Introduction and Overview (01:31) The Trade-off Between…
2024 Annual Investment Outlook
Send us Fan Mail Listen to our 2024 Annual Investment Outlook Panel with four top VCs based in Seattle and the Bay area. Get their perspective on the investment climate in 2024 and their plans to invest specifically in AI/ML based startups. Tim Porter, Managing Director, Madrona Ventures Tim joined Madrona in 2006 and invests in B2B software companies in the Pacific Northwest. He is currently interested in intelligent applications and SaaS, cloud-native software infrastructure, the modern data stack, machine learning, DevOps, and cybersecurity. He is also a board member of numerous Madrona portfolio companies. Sudip Chakrabarti, Partner, Decibel VC…
From Creating Kubernetes to Founding Stacklok: Open-Source and Security with Craig McLuckie
In this episode of Founded & Funded, Madrona Managing Director Tim Porter talks to Craig McLuckie, who's most known as one of the creators of Kubernetes at Google. Madrona previously backed Craig's company, Heptio, and was excited to back his latest company — Stacklok. Stacklok is a software supply chain security company that helps developers and open-source communities build more secure software and keep that software safe. Tim and Craig discuss Stacklok's developer-centric approach to security, the role of open source in startups, the importance of open source and security, and they also hit on some important lessons in company…
Investor Spotlight: A Conversation with Madrona's Tim Porter
Hear from Madrona Managing Director Tim Porter as he discusses his path to venture capital by way of mechanical engineering and Microsoft. He shares invaluable insights about what he looks for in a founder, the importance of customer focus, and the high priority he places on integrity. Tim also shares Madrona's core principles, his favorite books for entrepreneurs, and his personal interests outside of work, including his passion for outdoor sports and the nonprofit Global Partnerships. This chat is a must-watch for aspiring entrepreneurs looking for insights into the venture capital world or strategies to capture an investor's eye. (00:00)…
#64 Matt McIlwain – MD Madrona Venture Group on all Things Venture Capital
Nataraj interviewed veteran VC Matt McIlwain of Madrona Venture Group on Startup Project podcast. Matt shared his insights into the state of venture capital and the impacts of AI, drawn from his 20+ years of experience. Some key takeaways: 1. Venture is a "tale of two cities" now - later stage startups are struggling, earlier stage companies embracing AI are thriving 2. Seattle has unmatched talent but lacks local capital - still over-reliant on Silicon Valley VCs 3. Incumbents have the edge currently in leveraging AI due to data, customers, ability to integrate via APIs - but long term, AI-native…
Karan Mehandru & Anna Baird on Go-To-Market Strategy, and Navigating Sales, Growth, and Leadership
This week, Madrona Managing Director Karan Mehandru hosts Madrona Operating Partner Anna Baird. The operating partner role is a new one for Madrona, and we're excited to have her on the team to advise our founders. Before transitioning to board positions in the last couple of years, Anna was most recently the CRO at Outreach. Before that, she was the COO at Outreach, and before that, she was the CFO at several companies. That trifecta of C-Suite experience gives Anna a unique perspective to help founders navigate any blind spots they may have. Anna and Karan, who is on the…
Tigera CEO Ratan Tipirneni On Commercializing Open Source
Madrona Partner Aseem Datar hosts Tigera CEO Ratan Tipirneni. Tigera is in the business of preventing and detecting security breaches in cloud-native applications, and its open-source offering Calico is one of the most widely adopted container networking and security solutions out there. Aseem and Ratan dive into whether or not you should open source, the three business models founders should evaluate when thinking about commercializing an open-source project, how to compete with free, how product-led growth can really kickstart your business compared to traditional go-to-market, and so much more. Words of wisdom from Ratan Tipirneni: You need to be thinking…
Founded & Funded Investor Spotlight with Maria Gilfoyle
Get to know Madrona Investor Maria Gilfoyle. Learn how she pivoted from wanting to become an artist into venture capital, her design-first mindset focus, what she looks for in founders, and what she enjoys doing outside the office.
Using AI to read the room with Read.ai CEO David Shim
In this episode of Shift AI, David Shim CEO at read.ai shares his experience as a serial entrepreneur, angel investor and running one of the most exciting Madrona backed AI startups based in Seattle. Below is a summary of the topics covered: Transitioning from a political science major to identifying untapped opportunities in the stock trading market. Acquiring foundational customer service skills in the early stages of a career. The influence of a family of Korean immigrant entrepreneurs on work ethic and problem-solving. The journey of founding and scaling startups like Placed and read.ai in emerging markets. Adapting product focus…
Investor Spotlight with Madrona Managing Director Karan Mehandru
Get to know Madrona Managing Director Karan Mehandru. Learn what drew him to venture capital and working with founders, what he looks for in founders, what he thinks founders should look for in VC partners, and what he enjoys doing outside the office. (00:00:00) Introduction (00:01:00) Madrona Managing Partner Karan Mehandru's background (00:01:33) Why venture capital (00:02:50) Founders: Become the best version of yourself (00:04:58) Understand the person behind titles and roles (00:05:44) What Karan looks for in founders (00:06:52) Visionary founders (00:07:34) The role of grit and intellectual honesty (00:08:50) How Founders should select partners/investors (00:11:36) Biggest changes Karan's…
Statsig Founder Vijaye Raji on Product Building, Launching a Startup, and AI
Today, Madrona Managing Director S. Somasegar talks with Statsig founder and CEO Vijaye Raji, who spent 20 years at Microsoft and Facebook before launching Statsig as a way to bring the powerful tools he was used to using inside Facebook to all builders. Statsig experimentation platform and automated AB testing helps companies make product decisions in a data-driven way at scale, which means shipping the right products faster. Vijaye and Soma go way back and take a little trip down memory lane, talking about Microsoft's Small Basic. But then they dive into what it's like transitioning from big tech to…
NYSE's Lynn Martin on Capital Markets, IPOs, and the Role AI Is Playing in the Markets
In this week's episode of Founded & Funded, Madrona Managing Director Matt McIlwain hosts NYSE Group President Lynn Martin ahead of our Intelligent Applications Summit on October 10th and 11th. Lynn will be speaking at the Summit, but we thought it would be great to have her on the show to talk more about her background, the NYSE, capital markets, IPOs, and, of course, the role data, AI, and large language models are playing in the markets and in companies broadly! This conversation couldn't come at a better time now that we're seeing a number of tech companies teeing up…
Shift AI Podcast: Seattle's place at the center of the AI universe, with Madrona's Matt McIlwain
On this week’s GeekWire Podcast, we're featuring an episode of Shift AI, a podcast hosted by Boaz Ashkenazy, CEO of AI solutions provider Simply Augmented, with guest Matt McIlwain of Seattle-based venture capital firm Madrona Venture Group. A thriving tech hub requires access to ideas, people, and experiments that produce collective lessons sooner and with greater fidelity than anywhere else. This is what made the Seattle area the cloud capital of the world. It also positions the region as one of the world’s top centers of excellence for artificial intelligence. That’s one of the insights from Matt McIlwain, managing director…
Fund History
People
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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
