Facts
- HQ
- Seattle, USA
- Sectors
- Venture Capital and Private Equity Principals
- Founded
- 1998
- Employees
- 18
Pro.com co-founders Subramanian, Williams and ex-BofA CIO Zachary Harl launch OnTrade, an AI startup for wealth managers backed by General Catalyst and Madrona
Pro.com co-founders Rajalakshmi “Raji” Subramanian and Matt Williams, with Zachary Harl, launched OnTrade, an AI startup for wealth management that has been building in stealth since 2024 and is backed by General Catalyst, Madrona and angels to deploy AI agents that automate advisors' analytical tasks while keeping human approval.
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.
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.
University of Washington Students Pitch AI and Tech Startups After 10-Week Entrepreneurship Course Led by Greg Gottesman
The University of Washington offers a popular 10-week entrepreneurship class led by venture capitalist Greg Gottesman, culminating in student pitches of tech startups at Pioneer Square Labs. The course attracted strong demand, featured high-profile guest speakers like Amazon CEO Andy Jassy, and highlighted trends such as AI and computer vision.
Taskrabbit Absorbs Seattle Moving Service Dolly in April 2024, Expanding Its On-Demand Delivery Reach
Taskrabbit acquired Seattle-based moving service Dolly in April 2024, integrating its operations while keeping the two brands separate. Dolly, founded in 2014 and previously acquired by Updater in 2021, now operates as a Taskrabbit division with key executive transitions occurring since the acquisition.
Pandemic Drives Growth of 1099 Workforce Beyond Gig Economy Amid US Healthcare Affordability Crisis
The pandemic shifted consumer behavior and work patterns, increasing the 1099 workforce beyond gig economy roles to include diverse professions seeking flexibility. However, this shift left over 70 million 1099 workers and their dependents without insurance, amid rising US healthcare costs and affordability challenges.
Digital Health Startups Face Post-IPO Decline Despite $38.7B Funding Surge as Established Healthcare Giants Dominate Market Gains
Digital health startups saw massive funding growth from 2020 to 2023, but many failed or underperformed post-IPO, while established healthcare incumbents significantly increased their market value. Key acquisitions included Teladoc's $18.5 billion purchase of Livongo and CVS's $10.6 billion acquisition of Oak Street.
Natalie Dillon & Simran Suri Analyze the GLP-1 Deprescription Challenge Amid Rising Venture Capital and Patient Drop-Offs
The article explores the emerging trend of deprescribing GLP-1 weight loss drugs, highlighting challenges patients face such as high costs and side effects, with 68% stopping use within a year. It identifies gaps in current healthcare models for managing deprescription and emphasizes the importance of addressing mental health, sleep, and medical conditions related to fertility.
Maveron Identifies Key Consumer Investing Opportunities in the Age of Personalization, Highlighting Health Innovations Like GLP-1s
Maveron highlights major societal shifts defining the 'Age of Personalization,' focusing on health, knowledge, productivity, and power redistribution as key consumer investment opportunities. They emphasize addressing issues like obesity through innovations such as GLP-1 treatments, which are changing perceptions around body image and health.
Top Growth Investors in Health Tech Revealed in Guide to Aid Fundraising Amid Market Challenges
This article provides a curated guide to the most active growth-stage investors in health tech, aimed at helping founders and early-stage investors understand who is funding larger rounds despite current market challenges. The list, compiled by an early-stage investor from various top-tier growth funds, will be updated regularly to serve as a practical resource for fundraising and networking in the sector.
Goodbill Raises $2M to Expand Medical Billing Error Detection for Self-Funded Health Plans Covering 50,000 People
Goodbill, a Seattle-based startup founded in 2021, raised $2 million to expand its services that identify and challenge errors in hospital bills for individual patients and self-funded employer health plans covering 50,000 people nationwide. The funding round included previous investors Founders’ Co-op, Maveron, and Liquid 2 Ventures, enabling Goodbill to scale its platform upstream into billing processes to help employers control healthcare costs.
Seattle VCs James Newell and Jason Stoffer Debate UW vs. Michigan as Football and Tech Rivalry Heats Up
Seattle-area venture capitalists James Newell (University of Washington) and Jason Stoffer (University of Michigan) engage in friendly tech investor football rivalry ahead of the College Football Playoff championship. Both praise their universities' engineering programs and entrepreneurial impact while playfully debating their teams' prospects.
Zulily Shuts Seattle Headquarters and Two Warehouses, Laying Off Over 792 Employees in 2023
Zulily is closing its Seattle headquarters and two warehouses in Nevada and Ohio, resulting in layoffs of over 792 employees. The company, recently acquired by Regent private equity, has faced financial difficulties including lawsuits for unpaid invoices and multiple rounds of layoffs in 2023.
Seattle Marketing Executive Joanna Lord Becomes CMO at Spring Health Amid Outreach Resignation and Maveron CFO Hire
Joanna Lord, formerly a marketing leader in Seattle and New York, has joined New York-based Spring Health as chief marketing officer. Seattle's Outreach exec Amritansh Raghav resigned amid layoffs, and Maveron hired Nathan Apsel as CFO.
Koru Founder Kristen Hamilton Joins Enjoy the Work as General Partner; Portland Seed Fund Adds Principal Devon Horace
Kristen Hamilton, founder of predictive hiring startup Koru, has joined San Francisco-based startup advisory firm Enjoy the Work as a general partner, focusing on Seattle and beyond. Additionally, Portland Seed Fund added Devon Horace as principal, expanding its leadership team with experienced regional executives.
Silicon Valley Bank Urges Customers to Return Deposits After Collapse, Backed by U.S. Government
Silicon Valley Bank, now backed by the U.S. government, is urging customers to return their deposits after its recent collapse, assuring them of full protections. The newly formed Silicon Valley Bridge Bank is operational, making new loans, honoring credit facilities, and seeing some customers already returning funds.
Madrona Venture Group Raises $690M Across Two Funds to Support Startups in Seattle and Nationwide
Madrona Venture Group has raised $690 million across two funds, marking its largest ever, to back startups primarily in the Pacific Northwest and nationwide. The firm plans about 40 venture investments with increased capital per company amid a strong U.S. venture market.
Seattle Startup JetClosing to Shut Down on June 15 After Six Years Digitizing Home Closing Process
JetClosing, a Seattle startup founded in 2016 to digitize the home closing process using technology, is shutting down on June 15, 2022. The company struggled amid a cooling housing market and strong competition despite offering faster, cheaper, and more transparent services.
Goodbill raises $3.4M seed to fight medical billing errors, launches free COVID test-claim tool
Seattle startup Goodbill, founded by Patrick Haig and Ian Sefferman, helps patients identify and dispute medical billing errors and launched a free tool to submit COVID-19 rapid-test reimbursement claims after new federal coverage rules. The company raised $3.4 million in a December seed round led by Founders’ Co-op, with participation from Maveron, Liquid 2 Ventures and several angel investors.
Allbirds IPO Raises $300M, Valuing Shoe Brand Near $3B as Shares Surge 60% on Nasdaq Debut
Allbirds, backed early by Maveron, debuted on the Nasdaq after raising $300 million in an IPO that valued the company at about $3 billion; shares jumped 60% on the first trading day. Maveron led a $7.25 million Series A in 2016 and its stake was worth roughly $400 million at the opening price, with the company reporting $219.3 million in 2020 revenue and over eight million pairs sold since launch.
GeekWire: Pacific Northwest records 55 exits and 282 VC deals this year, including Rad Power Bikes’ $154M round
GeekWire reports a surge in deal activity across the Pacific Northwest this year, tracking 55 acquisitions, SPACs, IPOs and private equity buyouts and 282 venture financings (nearly one per day). Notable transactions include Nintendo’s Jan. 5 acquisition of Next Level Games, BitTitan’s sale to Idera, and Rad Power Bikes’ $154 million funding round.
Remitly prices IPO at $43, values company near $7B and raises $300M+ as shares debut on NASDAQ
Remitly, a 10-year-old mobile remittance company, priced its IPO at $43 per share valuing the firm near $7 billion and raised over $300 million in net proceeds as it began trading on NASDAQ; shares opened at $53 and closed at $48.45 on debut. CEO Matt Oppenheimer framed the IPO as a step in the company’s mission to simplify cross-border money transfers for immigrants and their families.
Former Maveron Investor Jason Stoffer Says He Was Wrong to Pass on Remitly as Company Nears $6.5B IPO
Maveron investor Jason Stoffer passed on investing in Seattle remittance startup Remitly in 2012 due to regulatory and market concerns but now says the company proved him wrong as it prepares a $6.5 billion IPO. Stoffer discusses his analysis of Remitly’s S-1, investing lessons, and related topics on the GeekWire Podcast.
Remitly files to raise up to $332.6M in IPO at roughly $6.5B valuation with $38–$42 price range
Remitly set IPO terms expecting to raise $284.6 million (up to $332.6 million with overallotment) at $38–$42 a share, valuing the Seattle fintech about $6.5 billion. The company reported $202M revenue and a $9.2M net loss in the first half of the year and competes with firms like Wise and Zepz.
Opendoor acquires Seattle’s Pro.com and San Francisco’s Skylight, will shut both platforms
Opendoor acquired Seattle-based Pro.com and San Francisco-based Skylight, will discontinue both companies' consumer platforms and integrate their teams and technology into Opendoor’s roadmap; deal terms were not disclosed. The moves give Opendoor a Seattle presence and add home-improvement talent as the iBuyer expands amid increased digital homebuying adoption.
People
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Dan Levitan Founder, Co-Founder and General Partner, Co-Founder & Partner
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Jason Stoffer Investor
