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…
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.
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…
CEO Spotlight: Steve Singh of Madrona Venture Group
Madrona Venture Group CEO Steve Singh talks to PhocusWire senior reporter Linda Fox. Full story: https://www.phocuswire.com/steve-singh-ceo-spotlight-spotnana-direct-travel » SUBSCRIBE to the PhocusWire channel: https://bit.ly/3PJFaWg » For news delivered to your inbox: https://bit.ly/3dl6N6V
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…
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.
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…
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.
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…
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.
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)…
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.
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…
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.
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…
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.
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…
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
