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 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.
Building Biotech in Seattle: Madrona Investor Spotlight with Joe Horsman
What happens when a scientist becomes a VC? We sat down with Madrona's Joe Horsman to find out. In this episode, Joe shares his journey from late nights in the lab to helping biotech founders bring life-changing science to market. You'll hear: Why Seattle's biotech + AI ecosystem is heating up What founders need beyond funding to commercialize world-changing science. Why weekend adventures fuel Monday creativity
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.
Building AI That Sells: Scaling Smarter with Luminance CEO Eleanor Lightbody
Entrepreneurs often ask: When do I know it's time to scale? Or, how do I lead when I wasn't the original founder? In this week's Founded & Funded, Madrona Partner Chris Picardo sits down with Eleanor Lightbody, CEO of Luminance, who shares how she took a promising AI product and built a company culture, go-to-market motion, and product strategy that's scaled 6x in just two years. Eleanor's candor and tactical insights on hiring, selling, and navigating founder dynamics make this a must-listen. Transcript: https://www.madrona.com/building-ai-that-sells-scaling-smarter-with-luminance-ceo-eleanor-lightbody/ Chapters: (00:00) Introduction (01:29) Eleanor's Career Journey (03:22) Joining Luminance and Initial Challenges (05:46) Navigating CEO…
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.
Martin Tobias's Incisive Ventures Raises $10.5M for Early-Stage B2B Software Fund Focused on AI
Martin Tobias's Incisive Ventures closed a $10.5 million fund targeting nearly 30 early-stage enterprise software companies, focusing on AI-driven B2B solutions. Tobias emphasizes backing startups with strong customer insight and distribution strategies, aiming to invest primarily in U.S. startups but remaining open globally.
Seattle Startup Edgerunner AI Raises $12M Series A to Develop On-Device Military AI Agents Without Internet
Seattle startup Edgerunner AI raised $12 million in a Series A to develop on-device AI agents that assist military personnel with logistics and maintenance without internet connectivity. Founded by former military and tech experts, the company focuses on secure, domain-specific AI solutions powered by open source LLMs and supported by investors like Madrona and HP Tech Ventures.
Customer Obsession & Agentic AI Power Ravenna's Reinvention of Internal Ops
Most startups bolt AI onto old products. @ravennahq reimagined the entire workflow. When we first met Kevin Coleman and Taylor Halliday, it was clear they weren't just chasing the hype cycle. They were pairing AI-native architecture with deep founder-market fit, and rebuilding how internal ops work — from first principles. Their new company, Ravenna, is going after a $160B+ market dominated by legacy players. But instead of being intimidated by incumbents, they got focused, making some smart moves that more early-stage teams should consider: 1) Speak with 30+ customers before writing a line of code 2) Define a clear ICP…
Fortson VC Raises $50M to Fund Early-Stage B2B Software Startups Led by Cole Younger in Seattle
Fortson VC, led by Cole Younger, has raised $50 million to invest in early-stage B2B software startups, primarily in the Pacific Northwest. The fund plans 25 to 30 investments with check sizes between $500,000 and $1 million, focusing on founders with unique internal compasses.
Madrona Managing Director Matt McIlwain Shares 'Triangle' Model to Assess Startup Founders and Pitches
Madrona Managing Director Matt McIlwain explained his 'triangle' model for evaluating startup pitches, focusing on the problem's existence, timing, the product, and founder-market fit. He emphasized the importance of founders' dedication, understanding of timing, and adaptability in successfully backing startups.
Seattle VCs Madrona, Maveron, Founders' Co-op Highlight Key Founder Red Flags at Graham & Walker’s Founder Day
Seattle venture capitalists from Madrona, Maveron, and Founders' Co-op advised early-stage startup founders to display growth mindset, customer obsession, and strong storytelling skills as key factors for securing investment. These insights were shared at Graham & Walker’s Founder Day event to guide founders on investor red flags.
Madrona Venture Group Marks 30 Years with $770M Raised for New Funds, Continuing Strong Seattle Investments
Madrona Venture Group, a Seattle-based venture capital firm celebrating its 30th anniversary, has invested in major startups like Amazon and recently raised $770 million for two new funds to support about 40 investments. While expanding beyond the Pacific Northwest with a Palo Alto office, Madrona continues to focus most of its investments locally.
Fund History
People
See all 16-
Ben Gilbert Founder, Co-Founder
-
Bill Ruckelshaus Founder, Founder and Strategic Director
-
Paul Goodrich Founder
