Madrona Venture Labs
Facts
- HQ
- Seattle
- Sectors
- Startup studio, Venture
- Founded
- 2015 Seattle business license
- Type
- Corporation Seattle business license
- Registered name
- Madrona Venture Labs Inc Seattle business license
GeekWire live: Amazon blocks Meta’s Muse AI from shopping on Amazon.com, sparking fight over AI agents; Seattle startup future debated
GeekWire’s live podcast discusses Amazon blocking Meta’s Muse AI from shopping on Amazon.com—framing it as an early sign of a larger battle over AI agents acting on users’ behalf—and includes a Seattle-focused conversation about whether the city remains a strong place to build startups, featuring local founders, CEOs and a discussion of taxes and venture capital.
Lev names startup veteran Jay Bartot as CTO to build its ‘AI co-founder’ and productize PSL playbook
Lev, a Pioneer Square Labs spinout building an 'AI co-founder' for entrepreneurs, named veteran startup builder Jay Bartot as CTO to help productize the venture-studio playbook and launched Lev Learn, a free guide to startup terminology.
Seattle-San Francisco Fund TheFounderVC Launches $5M Inaugural Vertical AI Early Stage Fund
TheFounderVC (TFVC), a new early stage fund based in Seattle and San Francisco, publicly launched its inaugural $5 million fund focused on vertical AI startups. TFVC plans to invest $100,000 to $250,000 in 25 to 30 pre-seed and seed companies, mostly with ties to Seattle, including startups in AI-powered knowledge storage, science automation, weather risk planning, and more.
Former Microsoft CVP Jigar Thakkar Named VP of Amazon Quick Suite as Chartis and Supio Announce New Leadership
Jigar Thakkar, former Microsoft corporate vice president, has joined Amazon Quick Suite as vice president, focusing on agentic AI platform development. Additionally, Sara Vaezy returned to Chartis as chief product and technology officer, and legal-tech startup Supio named new executives following a $60 million funding round.
Seattle Data Governance Startup Codified Winds Down as CEO Yatharth Gupta Joins Google
Seattle data governance startup Codified is winding down as its founder and former CEO, Yatharth Gupta, takes a new role as director of product management at Google. The company, which raised $4 million in seed funding in February 2024 and developed AI-driven data access controls, provided no further details on the shutdown.
Otto Launches AI Travel Assistant Led by Ex-Expedia Exec to Personalize Business Travel End-to-End
Seattle-based startup Otto, founded by former Expedia executive Michael Gulmann, has launched Otto the Agent, an AI-powered business travel assistant designed to personalize bookings and manage travel end-to-end. The platform learns individual travel preferences and integrates with calendars to proactively suggest itineraries, aiming to replicate the service level of a top executive assistant.
Susan Kaech Named Executive VP at Allen Institute; Arthur Valdez Joins Impinj Board; Jason Bennett Shifts to AWS VP Role
Susan Kaech joins the Allen Institute as executive VP of the Immunology Moonshot; Arthur Valdez Jr. joins Impinj's board; Jason Bennett transitions to VP of worldwide startups and venture capital at AWS. These leadership changes reflect strategic moves across bioscience, RFID technology, and cloud services sectors.
Seattle’s Alpyne Labs Introduces Juno, an AI Assistant to Automate Admin Tasks for Mental Health Clinicians
Seattle startup Alpyne Labs launched Juno, an AI-powered Chrome extension designed to handle administrative tasks like billing and scheduling for mental health clinicians, freeing them to focus on patient care. Co-founded by CEO Justin Ith and VP Michelle Arenas, Juno integrates with popular EHR platforms and enables natural conversational interaction.
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.
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 Blue Origin Vets Chris Le and Andrew Woodfield Launch Actuate Ventures to Fund and Support Space and Deep-Tech Startups
Former Blue Origin employees Chris Le and Andrew Woodfield launched Actuate Ventures, a venture studio focused on space and deep-tech startups, currently raising a $25 million fund. The studio combines incubation and investment to actively support emerging companies with specialized resources and expertise.
Aviel Ginzburg and Team Launch Foundations to Foster Seattle’s Startup Community with In-Person Support Network
Foundations, a new startup community group led by Aviel Ginzburg and others in Seattle, aims to create a supportive 'serendipity factory' for early-stage founders by fostering in-person connections among entrepreneurs, mentors, and investors. The group hosted a launch party in Seattle's Capitol Hill neighborhood to build a vibrant local tech startup ecosystem.
Seattle Tech Vet Peter Horadan Named CEO of Vouched to Lead AI-Driven Identity Verification Amid Rising Deepfake Concerns
Peter Horadan, an experienced Seattle tech executive formerly with Avalara and Lockstep, has become CEO of identity verification startup Vouched. He aims to leverage AI to address rising challenges in online identity verification amidst deepfakes, while co-founder John Baird transitions to chief strategy officer.
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.
Pack Ventures Seeks $30M for Second Fund to Invest in University of Washington-Linked Startups
Pack Ventures, a venture capital fund focused on University of Washington-linked startups, raised $5 million for its first fund and is now aiming to raise $30 million for a second fund to expand its investments. The firm has established a preferred partnership with UW and co-invests with other Seattle VCs in companies across life sciences, software, and healthcare sectors.
Google Veteran Stephen Konig Leads Seattle-Based Mudita Studios Spinning Out B2B Software Startups
Stephen Konig, a former Google product leader, runs Mudita Studios in Seattle, a startup studio spun out from Detroit-based Mudita Venture Partners focusing on early-stage B2B software startups. The studio has launched four startups, including Official AI, Stellis AI, and Predict.law, and aims to reduce risk for entrepreneurs by testing and funding ideas, with a 95% idea rejection rate.
Madrona, Point72 and Madrona Venture Labs make day-one investment in Tektonic to build GenAI agents for sales and revenue operations
Madrona announces a day-one investment in Tektonic alongside Point72 and Madrona Venture Labs; Tektonic builds GenAI agents to automate business operations, initially targeting sales and revenue tasks like quoting, renewals, services, and data quality.
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.
AI Company Xembly to End Services and Wind Down by June 1, 2024 Amid AI Platform Challenges
Enterprise AI company Xembly announced it will cease its customer-facing services and wind down operations due to challenges with underlying AI platforms, effective June 1, 2024. The Seattle-based firm, founded in 2020 and backed by $20 million in funding, plans to pursue a new direction in AI development.
Aviel Ginzburg Launches Seattle Foundations to Support Tech Startups with Non-Equity Accelerator in Capitol Hill
Aviel Ginzburg and a team of entrepreneurs are launching Seattle Foundations, a new invite-only entrepreneurial community and shared workspace in Seattle, aiming to support tech founders with mentorship and resources without taking equity. The initiative, set to open later this year in Capitol Hill, will offer co-working space, events, and six-month memberships focused on startup acceleration.
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.
Investor Spotlight: A Conversation with Madrona's Soma Somasegar
Hear from Madrona Managing Director Soma Somasegar as he discusses his path to venture capital by way of 27 years at Microsoft. He shares invaluable insights about what he looks for in a founder, the importance of passion in founders, the state of cloud technology, and the future of AI and Startups. Tim also shares Madrona's core principles, his favorite books for entrepreneurs, and his personal interests outside of work, including his passion for outdoor sports and the nonprofit Global Partnerships. This chat is a must-watch for aspiring entrepreneurs looking for insights into the venture capital world or strategies to…
Seattle Startup Charmed Raises $500K Led by Tacoma Venture Fund to Launch AI-Driven 3D Character Design Tool
Seattle-based startup Charmed raised over $500,000 led by Tacoma Venture Fund to launch a new AI-powered 3D character design tool that rapidly generates models, textures, and animations from prompts. Founder Jeremy Tryba aims to build an end-to-end 3D AI platform enabling game designers to quickly create prototypes and accelerate development.
Seattle’s Tola Capital Raises $230M Third Fund to Back 25–30 Early-Stage AI and Enterprise Software Startups
Seattle-based Tola Capital has raised $230 million for its third fund aimed at investing in 25-30 early-stage AI and enterprise software startups, focusing on cloud computing and AI innovation. Founded by former Microsoft managers Sheila Gulati and Stacey Giard, Tola has invested in over 20 companies and plans seed to Series B investments ranging from $1 million to $15 million.
No New Seattle Unicorns in 2023 as Venture Capital Slows and Former Unicorn Convoy Collapses
Seattle saw no new unicorn startups in 2023 amid a broader venture capital slowdown following a boom during the pandemic, with some existing unicorns like Convoy collapsing and others cutting costs or staff. This trend reflects a global decrease in new unicorns, dropping from 619 in 2021 to only 64 through Q3 2023.
People
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Anthony Bontrager Investor / Advisor (MVL Fund III)
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S. "Soma" Somasegar Managing Director
