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
Otto Startup, Led by Expedia Veteran and Madrona Chairman, Raises $6M to Develop AI Assistant for Business Travel Booking
Seattle-based startup Otto, led by Expedia veteran Michael Gulmann and chaired by Steve Singh of Madrona Ventures, is developing an AI virtual assistant using GPT-4 to simplify business travel booking. The company raised $6 million in a seed round led by Madrona and aims to offer its product for free while earning revenue through booking facilitation.
Seattle Tech Week Returns July 29 with Focus on AI Innovation and Healthcare, Backed by Madrona Ventures
Seattle Tech Week returns starting July 29, featuring panel discussions and networking events centered on AI innovations and healthcare advancements in the Seattle tech ecosystem, coordinated by Madrona Ventures and other sponsors. The event highlights Seattle’s strong presence in AI and biotech sectors with sessions led by local tech giants, researchers, and startups.
Seattle Venture Capital Firm Flying Fish Files for New Fund III to Continue Investing in AI Startups
Seattle-based venture capital firm Flying Fish is raising a new fund called Flying Fish Fund III, following previous funds of $37 million and $70 million raised in 2016 and 2022 respectively. The firm focuses on early-stage AI, machine learning, and robotics startups, initially in the Pacific Northwest but now with a broader geographic scope.
Douglas Gourlay Named CEO of Seattle Data Storage Firm Qumulo, Succeeding Retiring Bill Richter
Douglas Gourlay, former Arista and Cisco executive, has been named CEO of Seattle-based data storage company Qumulo, succeeding retiring CEO Bill Richter. Gourlay aims to leverage AI demand and customer focus as Qumulo shifts from hardware to software solutions, serving over 1,000 customers with around 300 employees.
Seattle Legal Tech Startup Clearbrief Raises $4M to Boost AI Software for Lawyers
Seattle-based legal tech startup Clearbrief raised $4 million to enhance its AI-powered software that helps lawyers find, verify, and summarize facts in legal documents. The software, used by hundreds of law firms and Microsoft’s legal team, generates litigation exhibits and detects citation errors.
Tech Veterans Joseph Sirosh and Oren Etzioni Advocate Daily AI Experimentation at PAN-IIT Seattle 2024, Spotlighting Generative AI’s Transformative Impact
Tech veterans Joseph Sirosh and Oren Etzioni urge daily experimentation and learning with AI to stay current amid a pivotal shift driven by generative AI innovations. Sirosh's new startup, CreatorsAGI, focuses on empowering creators to build conversational AI agents, highlighting AI's transformative potential despite existing limitations.
Tektonic AI Raises $10M Seed Round from Madrona and Point72 Ventures to Automate Complex Business Workflows
Seattle-based startup Tektonic AI raised $10 million from Madrona and Point72 Ventures to develop AI software automating complex business workflows, initially targeting sales and revenue teams. The company aims to streamline dynamic workflows by using AI agents that understand natural language, enhancing productivity beyond traditional automation tools.
Vilya Secures $71 Million Series A Funding Led by NVIDIA, ARCH, Madrona, and Menlo Ventures for AI-Driven Macrocyclic Drug Development
Vilya, a biotech startup developing macrocyclic drugs using AI and machine learning, announced an expanded $71 million Series A funding round led by ARCH Venture Partners, NVIDIA's NVentures, Madrona, and Menlo Ventures. The company, a spinout from Seattle's Institute for Protein Design, aims to revolutionize drug discovery with advanced protein engineering technologies.
Seattle High School Team Soundwave Wins $2,750 at TiE Young Entrepreneur Finals with AI Accent Softening Tool for Call Centers
Seattle-area high schoolers from the team Soundwave won the TiE Young Entrepreneur Seattle chapter finals with an AI-enabled accent softening tool for call center agents, earning a $2,750 prize. Other notable winners included KEY Beauty and MyPath, which created technology platforms addressing makeup shade matching and AI-driven college counseling, respectively.
Madrona Adds Jeff Mills as Partner to Lead Silicon Valley Expansion; Nex Hires Former Walmart Execs; Amperity CEO Steps Down
Seattle venture firm Madrona hired Jeff Mills as partner to expand its Silicon Valley presence, while Nex appointed two former Walmart tech leaders, and Amperity's CEO Barry Padgett stepped down. Other Pacific Northwest tech industry moves include leadership changes at Zendesk and Cohesity.
Kyndryl Acquires Seattle-Based Cloud Migration Company Skytap to Expand Hybrid Cloud Services
Kyndryl has acquired Seattle-based cloud migration software company Skytap, aiming to enhance its hybrid cloud services portfolio. Skytap, led by CEO Bradley Schick, supports traditional on-premise systems on Microsoft Azure and IBM Cloud, serving clients like Honeywell and Okta.
Acquired Podcast Founders Ben Gilbert and David Rosenthal Launch Growth-Stage Tech Investment Fund
Ben Gilbert and David Rosenthal, founders and hosts of the Acquired podcast, are launching a new investment fund to invest in growth-stage tech companies, leveraging opportunities from their podcast network. Their fund formalizes their existing personal investments in startups like Vanta and Modern Treasury without turning into a traditional venture capital firm.
Concur Founder Steve Singh Leads Acquisition of Direct Travel to Enhance Corporate Travel Experience
Steve Singh, former CEO of Concur, led a group of investors in acquiring Direct Travel, a corporate travel management firm with over $300 million in revenue, aiming to create a seamless travel experience. Christal Bemont has been appointed as the new CEO of Direct Travel, with Singh serving as executive chairman.
TerraClear Raises $15M to Expand End-to-End Rock-Mapping and Picking Solutions for Farmers
TerraClear raised $15 million to expand its rock-mapping and picking technology, offering an end-to-end solution for farmers to efficiently remove rocks from fields using AI-driven hardware and software. The company plans to grow its sales team and partner with equipment manufacturers, providing services like drone field mapping and rock picking through service providers.
2024 GeekWire Awards CEO of the Year Finalists Include Leaders from Lexion, Common Room, Edge Delta, Statsig, and Mason
The 2024 GeekWire Awards CEO of the Year finalists are software veterans leading startups focused on enterprise solutions such as AI-powered contract management, data analysis, and A/B testing. These finalists include Gaurav Oberoi of Lexion, Linda Lian of Common Room, Ozan Unlu of Edge Delta, Vijaye Raji of Statsig, and Nancy Xiao of Mason.
Apptio Co-Founder Sunny Gupta Reflects on Building a $4.6 Billion Tech Business Following Key CIO Insight
Sunny Gupta, co-founder of Apptio, shared how a pivotal question from a CIO about managing technology costs inspired him to found the company, which pioneered Technology Business Management. Apptio went public in 2016, was acquired by Vista Equity Partners for nearly $2 billion in 2019, and then bought by IBM in a $4.6 billion deal in 2023.
Seattle Tech Leaders Including Satya Nadella Back Seattle Orcas, Boosting Major League Cricket's U.S. Growth in 2023
Sanjay Parthasarathy and prominent tech leaders including Microsoft CEO Satya Nadella have backed the Seattle Orcas to advance Major League Cricket, successfully accelerating the sport's growth in the U.S. by several years after the league's inaugural 2023 season. Parthasarathy has transitioned from a tech executive to fully immersing himself in managing the cricket team and expanding the sport's presence nationally.
AI2 Incubator Secures $200M AI Compute Resources to Support Startups with Up to $1M Free Access
The AI2 Incubator in Seattle secured $200 million in AI compute resources from cloud providers to offer up to $1 million in free computing power to its portfolio startups, helping them scale AI models without high costs. This initiative aims to support AI founders lacking privileged compute access and strengthen AI2's position among incubators and investors.
Former Microsoft Exec Yatharth Gupta’s Codified Raises $4M Seed to Advance AI-Powered Data Governance
Seattle startup Codified, founded by former Microsoft executive Yatharth Gupta, raised a $4 million seed round led by Madrona Venture Group to develop an AI-driven data governance platform. The company aims to simplify and improve internal data access management by enabling users to create data access rules in plain English, addressing industry challenges around data access complexity and security.
Pioneer Square Labs and Mayfield Partner to Co-Invest $1.5M Minimum in AI Startups
Seattle's Pioneer Square Labs and Silicon Valley venture capital firm Mayfield have formed a partnership to co-invest at least $1.5 million in AI-focused startups spun out from PSL. This collaboration combines PSL's startup incubation with Mayfield's venture funding strength to accelerate AI technology ventures.
Apptio Founder Sunny Gupta Steps Down as CEO Following IBM's $4.6B Acquisition, Transitions to Chairman Emeritus
Sunny Gupta, founder and CEO of Apptio for over 17 years, is stepping down and transitioning to chairman emeritus after IBM acquired the company in a $4.6 billion deal. Apptio COO Ajay Patel and President Larry Blasko will take over leadership as the company continues serving 1,800 customers including over 60% of the Fortune 500.
Seattle Startup Statsig Debuts 200+ Billboard Campaign in San Francisco to Promote Advanced Product Experimentation Tools
Seattle-based startup Statsig launched a major advertising campaign with over 200 billboards in San Francisco to raise its profile in Silicon Valley, promoting its enhanced product experimentation tools. Founded by Vijaye Raji, the company aims to demonstrate Seattle startups’ influence beyond the Pacific Northwest with messages targeting product teams that value rigorous A/B testing.
Flexe Cuts 38% of Workforce, Laying Off 99 Employees Amid Market Challenges Despite $119M Series D Funding
Seattle-based warehousing and logistics startup Flexe cut 38% of its workforce, affecting 99 employees amid market challenges despite a $119 million Series D funding round. The layoffs reflect broader difficulties in the startup sector following pandemic-driven growth.
Lassen Peak Raises $6M from Madrona to Advance Handheld Terahertz Weapon Detection Device
Lassen Peak, a Bellevue-based startup developing a handheld terahertz radar device for concealed weapon detection, raised $6 million from Madrona Venture Group, bringing its total funding to $32 million. The device aims to improve public safety by enabling law enforcement and others to detect weapons at a distance without physical pat-downs.
Ben Gilbert Transitions to Venture Partner at Pioneer Square Labs to Focus on Top-Ranking 'Acquired' Podcast
Ben Gilbert, co-founder of Pioneer Square Labs, is shifting from managing director and general partner to venture partner to focus on the popular 'Acquired' podcast, which now has over 450,000 monthly listeners and is the top tech podcast on Apple and Spotify. The podcast's in-depth episodes require extensive research and production time, leading Gilbert to prioritize it over his previous dual roles.
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
