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
Seattle AI Startup Vouched Raises $17M Series A to Enhance Identity Verification with Mobile Licenses and AI Agent Security
Seattle-based ID verification startup Vouched raised $17 million in a Series A funding round led by Spring Rock Ventures, advancing AI tools for identity verification including mobile driver’s licenses and AI agent reputation. CEO Peter Horadan emphasized transformative changes in identity verification prompted by emerging technologies and security needs.
OpenAI Acquires Seattle Startup Statsig for $1.1 Billion Amid Its Unique Five-Day In-Office Work Policy
Seattle-area startup Statsig, acquired by OpenAI for $1.1 billion, mandates five-day-a-week in-office work, contrasting with common hybrid models. CEO Vijaye Raji credits this policy for fostering strong collaboration, faster decision-making, and a high-performing culture.
OpenAI Expands Seattle Footprint with $1.1B Acquisition of Bellevue Startup Statsig
OpenAI is expanding its Seattle-area presence by acquiring the Bellevue-based product development platform Statsig for $1.1 billion, with Statsig continuing to operate independently. The move strengthens OpenAI's access to Seattle's tech talent and aligns with its existing local office near Microsoft.
OpenAI Acquires Statsig for $1.1 Billion, Appoints CEO Vijaye Raji as CTO of Applications
OpenAI is acquiring Statsig for $1.1 billion in an all-stock deal, appointing Statsig CEO Vijaye Raji as its new CTO of Applications. The startup will operate independently post-acquisition from its Seattle office, while its employees may join OpenAI.
Seattle Startup Rec Room Lays Off Half of Staff Amid $3.5 Billion Valuation, Refocuses on VR and PC
Seattle-based VR and gaming startup Rec Room is laying off about half its staff due to financial challenges after overexpanding its platform across multiple devices. The company will now focus on its strongest areas, including supporting top PC and VR creators and improving its flagship games.
Seattle Lags Behind San Francisco in Top AI Startup Funding Deals in 2025 Despite Strong Talent Pool
Despite Seattle's strong AI talent and institutions, no Seattle-area startups rank among the top 100 AI funding deals in 2025, as investors favor San Francisco-based companies for large funding rounds. The city has potential but currently lacks a defining AI startup comparable to Anthropic or OpenAI.
Smartsheet Appoints Stephanie Berner as Chief Customer Officer; Gradial and Zeno Power Expand Senior Leadership
Smartsheet named Stephanie Berner as chief customer officer amid leadership changes, including a new acting CEO. Seattle startups Gradial and Zeno Power also expanded their senior leadership with new executives to drive growth and innovation.
Seattle VCs Greg Gottesman and Matt McIlwain Urge Startups to Rethink Defensibility Amid Rapid AI Advancements
Seattle venture capitalists Greg Gottesman and Matt McIlwain emphasized at Seattle Venture Day that startups must develop new defensibility strategies, like 'reasoning flywheels,' to survive rapid scaling and vulnerability in the AI era. They advise founders to move beyond traditional intellectual property moats and focus on unique data, engagement, and workflows.
Seattle Investors and Founders See AI Boom as Key Startup Opportunity Amid Cultural and Capital Challenges
Seattle's startup ecosystem is poised for significant growth amid the AI boom, thanks to a strong talent pool and tech presence, according to over 20 investors and founders. However, concerns about a risk-averse culture, limited local capital, and government policies could hinder the city's ability to fully capitalize on this opportunity.
Seattle Startup Dropzone AI Raises $37M Series B to Scale AI SOC Analyst Security Software with 100+ Enterprise Clients
Seattle startup Dropzone AI raised $37 million in a Series B round to advance its AI-powered SOC analyst software aimed at reducing security alert fatigue. The company serves over 100 enterprise clients and claims superior false negative and positive rates while competing with tech giants like Microsoft and Google.
Madrona’s Matt McIlwain Forecasts Microsoft and Amazon Outpacing Apple After One Year
Madrona’s Matt McIlwain predicted a year ago that Microsoft and Amazon would outperform Apple, with Amazon up 25%, Microsoft up 15%, and Apple down 5%. He attributes this to Microsoft and Amazon’s strong positioning in AI and sees continued divergence in Big Tech performance going forward.
Nikesh Parekh Advises Microsoft and Amazon Execs on Engaging with Seattle Startups as Advisors, Board Members, and Investors
Nikesh Parekh shares a guide for Microsoft and Amazon employees on engaging with the Seattle startup ecosystem through roles like advisors or board members and by strategic investing, highlighting common practices and compensation details.
Sabrina Albert (Wu) Promoted to Partner at Madrona Venture Group, Highlights Enterprise AI Agents Transforming Workflows
Sabrina Albert (Wu) has been promoted to partner at Madrona Venture Group amid rapid technological change and emphasizes the rise of enterprise AI agents as autonomous coworkers transforming software interaction. She focuses on founder-market fit in startups and values dynamic iteration to meet evolving customer needs.
AI2 Incubator Raises $80M Third Fund to Accelerate Early-Stage AI Startups in Seattle
AI2 Incubator, a Seattle-based AI startup accelerator, has raised about $80 million for its third fund, significantly larger than its previous funds of $30 million in 2023 and $10 million in 2020. The incubator has spun out over 40 companies valued at $1.4 billion and recently moved to a new AI-focused headquarters in Seattle.
Statsig Opens New Bellevue Headquarters for 500 Employees, Emphasizing Full-Time In-Person Work After $100M Funding
Statsig, a Bellevue-based startup specializing in software testing tools, is expanding into a new headquarters accommodating up to 500 employees, reinforcing its requirement for full in-person work. This move follows their recent $100 million funding round at a $1.1 billion valuation and reflects the company’s commitment to an open, collaborative office culture.
USVP and Madrona co-lead $15M Series A in Clarify to build an autonomous AI-native CRM
USVP and Madrona co-led a $15 million Series A in Clarify, an AI-native autonomous CRM founded by Patrick Thompson that automates call briefs, transcriptions, action items, follow-ups and pipeline maintenance. Clarify, seeded in Q1 2024, now serves 100+ customers, has ~20 employees, uses usage-based pricing with unlimited users, and aims to replace legacy CRM workflows dominated by Salesforce and HubSpot.
Seattle Startup Clarify Raises $15M to Challenge Salesforce with AI-Native Autonomous CRM
Seattle startup Clarify raised $15 million to grow its AI-native CRM platform that automates sales data entry by integrating email, calendar, and calls to help sales teams spend more time closing deals. Clarify targets early-stage startups and investors, competing with Salesforce and other CRM providers by building AI features at its core.
Seattle Has Fewer Than 20 Unicorn Startups Amid Top AI Talent and Tech Giants in 2025
Seattle hosts fewer than 20 unicorn startups, representing about 1.5% of global unicorns as of January 2025, despite having a dense tech talent pool and being a prime location for AI businesses. Industry leaders argue that the number of unicorns alone is a poor measure of regional tech success, pointing to Seattle's strengths in AI, cloud giants, and fast-growing startups.
Apple Quietly Acquires Seattle AI Startup WhyLabs in 2025, Expanding Local AI Expertise
Apple appears to have quietly acquired Seattle startup WhyLabs, which specializes in AI application monitoring, marking another in a series of AI and machine learning acquisitions in the Seattle area. The acquisition, indicated by venture capital and LinkedIn clues but not publicly confirmed, aligns with Apple's ongoing investment in AI despite reports of lagging behind competitors.
Yoodli Raises $13.7M to Expand AI Roleplay Software Helping Enterprises Enhance Employee Communication Skills
Yoodli, founded by CEO Varun Puri, has raised $13.7 million to grow its AI roleplay software that helps employees improve communication skills through interactive speech analysis and feedback. The startup, spun out of AI2 in 2021, is shifting focus to enterprise clients and has increased revenue fivefold in eight months.
Neotribe-led $13.7M Series A in Yoodli to Expand AI Roleplay Enterprise Platform Serving Google, Databricks and More
Neotribe Ventures led a $13.7 million Series A in Yoodli, an AI roleplay enterprise platform that helps users rehearse high-stakes conversations with real-time feedback; existing investors including Madrona, Cercano, AI2 and Neotribe (who previously invested) highlighted Yoodli’s enterprise traction with customers like Google, Databricks, RingCentral, Snowflake and BDO. The funding will expand sales, customer success, and engineering while improving personalization and realism in roleplays to address communication training gaps at scale.
Seattle AI Startup Yoodli Raises $13.7M to Enhance Sales Pitch Training with Generative AI
Seattle-based AI startup Yoodli raised $13.7 million to advance its generative AI platform that helps sales teams practice pitches by simulating conversations and providing communication feedback. Founded in 2021 by Varun Puri and Esha Joshi, Yoodli serves companies like Databricks and RingCentral and partners with Toastmasters and Korn Ferry.
Alation Acquires AI Startup Numbers Station, Backed by Madrona and Others, to Enhance Data Intelligence Platform
Alation, a Silicon Valley data intelligence company valued at $1.7 billion, acquired Numbers Station, an 18-person AI data analysis startup backed by Madrona, to integrate its natural language data automation technology. Numbers Station, founded in 2021 and backed by prominent investors, will have its product incorporated into Alation's platform to enhance enterprise data intelligence.
Benjamin Dorr Named CEO of WellSaid Labs; Jennifer Weitzel Joins Microsoft as CVP; Jason Ing Becomes Typeface’s First CMO; Tina Walha Heads U.S. Digital Response
Benjamin Dorr became CEO of AI voice startup WellSaid Labs, replacing Brian Cook, while Jennifer Weitzel joined Microsoft as CVP of engineering and construction, Jason Ing became Typeface's first CMO, and Tina Walha was named CEO of U.S. Digital Response.
Statsig Raises $100M at $1.1B Valuation to Expand AI-Powered Product Development Platform
Statsig raised $100 million in Series C funding at a $1.1 billion valuation to expand its AI-driven product development platform that unifies A/B testing, analytics, and feature management. Led by Iconiq Growth with participation from Sequoia and Madrona, the company aims to grow its product offerings and 140-person team amid increasing AI-driven software complexity.
Fund History
People
See all 15-
Bill Ruckelshaus Founder, Founder and Strategic Director
-
Paul Goodrich Founder
-
Steve Singh Founder, Co-founder of Concur and Managing Director
