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
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.
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.
Madrona Ventures Backs AI-Powered E-Commerce Startup Spangle Led by Ex-Bolt CEO Maju Kuruvilla
Spangle, a new AI-driven e-commerce startup led by former Bolt CEO and Amazon VP Maju Kuruvilla, has emerged from stealth with seed funding from Madrona and Streamlined Ventures. The company aims to revolutionize online shopping personalization by bridging hyper-targeted marketing and broad customer experiences.
Seattle AI Marketing Startup Gradial Raises $13M Series A Led by Madrona to Scale Automation Platform
Seattle startup Gradial raised $13 million in a Series A round led by Madrona to expand its AI platform that automates marketing content operations. The company has experienced 30x revenue growth and plans to double its staff to accelerate product development and customer acquisition.
Seattle Venture Capitalists Urge Founders to Prioritize Practical AI Over Pursuit of AGI
Seattle venture capitalists at a Plug and Play event encouraged tech founders to focus on building practical AI products for specific industries rather than chasing artificial general intelligence (AGI), which they believe is uncertain and not imminent.
Seattle Venture Capitalists Say AI Boosts Startup Opportunities but Competition Is Fierce
Seattle-area venture capitalists highlight that AI advancements make now an excellent time to start startups due to lower capital needs and broad industry opportunities, but warn of intense competition as many similar ventures emerge rapidly. Founders are encouraged to develop unique advantages to stand out and attract investment amid a flood of new ideas and competitors.
Nautilus Biotechnology Lays Off 16% of Staff, Postpones Proteome Platform Launch to Late 2026
Nautilus Biotechnology laid off 16% of its workforce to extend its cash runway into 2027 and delayed the commercial release of its proteome analysis platform until late 2026. The company aims to control operating expenses and maximize its impact on biological science, focusing on proteomics to advance drug development.
Seattle’s Madrona Venture Firm Absorbs Madrona Venture Labs After 10 Years, Following $770M Fundraise
Seattle’s Madrona venture firm has absorbed its startup studio Madrona Venture Labs after over 10 years of independent operation and 30 incubated startups. This restructuring aligns with Madrona’s recent $770 million fundraise to consolidate efforts under one organization amid Seattle’s growing startup ecosystem.
Former Microsoft engineers Koukoumidis and Elachqar launch Bellevue AI lab Oumi with $10M seed round
Bellevue-based AI lab Oumi, founded by former Microsoft engineers Manos Koukoumidis and Oussama Elachqar, launched with $10 million in seed funding to build a collaboration platform for AI researchers and developers and has partnered with academics from Caltech, MIT, UW and Stanford. The startup has 10 employees, one research fellow, dozens of founding scholars, and space in UW's Global Innovation Exchange in Bellevue.
GeekWire Podcast Discusses OpenAI's $500B Stargate Project with Microsoft, Madrona’s $770M Fund, and Industry Impact
The GeekWire Podcast covers OpenAI's Stargate Project with Microsoft and others, Satya Nadella's investment remarks, Elon Musk's potential influence on tech policy, and Madrona's $770M new funds boosting Pacific NW startups.
Madrona Raises $770M for Two New Funds to Back Early and Late-Stage Tech Startups Amid VC Slowdown
Madrona, the largest venture capital firm in the Pacific Northwest, raised $770 million for two new funds focusing on early-stage and more mature tech startups despite a challenging VC fundraising environment in 2024. The firm plans to invest in about 30 companies at early stages and 12 at later stages, maintaining its strong position amid a slowdown in the broader venture capital sector.
Seattle Startup Groundlight Uses AI, Strobe Lights, and Radio to Stop Raccoons Invading Home via Cat Door
A Seattle AI startup called Groundlight helped solve a homeowner's raccoon problem using a system combining strobe lights, public radio, and AI to prevent raccoons from entering through a microchip-detecting cat door. The raccoons had learned to bypass the specialized cat door's intruder mode, but the AI-based solution effectively deterred them.
Julie Sandler to Shift from Managing Director to Venture Partner at Pioneer Square Labs in Late 2024
Julie Sandler, managing director at Pioneer Square Labs since 2017, will transition to a venture partner role in late 2024 while continuing to engage with the firm and its portfolio. She will also chair the Washington Roundtable next year, reflecting her ongoing influence in the Pacific Northwest tech and business communities.
Former Salesforce Exec Tony Alika Owens Named CEO of $1B-Valued Customer Data Startup Amperity
Tony Alika Owens, a former Salesforce executive, was appointed CEO of Seattle-based customer data platform startup Amperity, which reached a $1 billion valuation in 2021. Owens plans to expand Amperity's AI-driven product offerings and target more technical users and smaller customers.
UW Allen School's AI-Powered Remote Work Project Wins Madrona Prize at Annual Research Showcase
At the University of Washington's Paul G. Allen School annual Research Showcase, the Madrona Prize was awarded to a PhD-led team using AI to enhance remote work communication, including projects like Meeting Bridges. The event highlighted over 100 student projects and emphasized the intersection of research and commercial potential, with Madrona also recognizing two runner-up teams.
Archon Biosciences Raises $20M to Develop AI-Optimized Antibody Cages for Disease Treatment
Archon Biosciences has emerged from stealth with $20 million in seed funding led by Madrona Ventures to develop Antibody Cages, computationally designed protein structures optimized with AI for treating cancer and other diseases. The technology builds on protein design research linked to a recent Nobel Prize awarded to University of Washington biochemist David Baker.
Seattle Startup Read AI Raises $50M Series B to Accelerate Growth of AI-Powered Enterprise Productivity Tools
Seattle startup Read AI, selling generative AI-powered enterprise productivity tools, has raised $50 million in a Series B round to accelerate growth, boasting 75% of the Fortune 500 as users and adding 100,000 new accounts weekly without marketing spend. The company aims to expand its 'copilot everywhere' vision by integrating AI across communication platforms like email, messaging, and video calls, with plans to add predictive analytics and automation.
Pioneer Square Labs' Greg Gottesman Forecasts Generative AI Will Transform Venture Capital Operations by 2033
Greg Gottesman of Pioneer Square Labs predicts venture capital will fundamentally change in the next 5-10 years, increasingly leveraging generative AI to provide startups with more than just funding, including operational and coding support. Sheila Gulati of Tola Capital adds that early-stage investing is becoming more democratized, with a broader investor pool amid the recent AI-driven revival in venture capital.
Flexe Names Pirasenna Thiyagarajan CTO; Talus Bioscience Appoints Gaelle Mercenne Amid $11.2M Funding; Vouched Adds David McGrath as Sales VP
Flexe appointed Pirasenna Thiyagarajan as chief technology and product officer following CTO David Glick's departure. Talus Bioscience hired Gaelle Mercenne as head of biology after securing $11.2 million in funding, while Vouched named David McGrath as vice president of sales amid leadership changes.
Nvidia Acquires Seattle AI Startup OctoAI for Over $250 Million, Ending Its Service Offering by October 31
Nvidia has acquired Seattle-based AI startup OctoAI, which helps run generative AI models efficiently, for a price potentially exceeding $250 million including retention incentives. OctoAI is winding down its services by October 31, marking Nvidia's continued expansion in AI amid rising regulatory scrutiny.
Madrona Hires Anna Chen to Boost Bay Area Operations; Alexandra Tibbets Returns to Microsoft; Niraj Tolia Named Veeam CTO
Madrona expands its Bay Area team by hiring investor Anna Chen to focus on enterprise software, AI, and consumer subscriptions, while Alexandra Tibbets returns to Microsoft as chief of staff and Niraj Tolia becomes CTO of Veeam Software following their acquisition of an AI startup.
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
