Facts
- HQ
- Germany
- Sectors
- Enterprise software, ERP, Customer relationship management, Technology
- Founded
- 1972
- Employees
- 107000
- Stage
- Public
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Photon Bridge Raises €10M to Build Semiconductor Lasers for AI Data Centers; Watchtower Labs Secures $35M Seed for AI Military Logistics
Three startups landed VC rounds: Photon Bridge raised €10 million to build semiconductor lasers for AI data‑center optical interconnects with product samples due in 2027, and Watchtower Labs emerged from stealth with $35 million to commercialize AI simulation and optimisation software for military logistics; other deals were also reported.
Cascade AI launches Agent Harness to orchestrate governed, context-aware AI workflows for IT and HR
Cascade AI launched the Agent Harness, an orchestration and governance layer that makes AI workflows context- and policy-aware for IT and HR by using employee identity and system data to run actions within each user’s permissions.
From Microsoft Exit to Building the NFL Draft for AI Talent
Send us Fan Mail Serial entrepreneur Nikesh (Niki) Parekh joins us to share lessons from building Suplari, an AI-powered procurement intelligence company acquired by Microsoft in 2021, and his newest venture, Provn. Niki takes us behind the scenes of Suplari—from validating the idea with customers and finding product-market fit to scaling enterprise sales, navigating setbacks, and ultimately selling the company to Microsoft. He also shares what he would do differently and offers practical lessons for founders building enterprise software. We then explore Provn, which Niki describes as the “NFL Draft for AI talent.” Instead of relying on resumes, prestigious universities…
Hello Haven Raises $15M Pre-Seed from Mayfield for Personal AI ‘Haven’; Ravel Nets $8.2M Seed to Scale Purification Textile Recycling
InfotechLead reports VC funding deals: Hello Haven raised $15 million pre-seed led by Mayfield to build a personal AI digital twin and operating system, while Ravel secured an $8.2 million seed round led by One Small Planet to scale its blended-textile purification recycling technology; additional mentions include Notes.fm and investors like AP Ventures, Overlay Capital and Lichen Ventures.
Anoop Gupta Steps Down as SeekOut CEO, Sean Thompson Named Successor to Drive AI Recruiting Growth
Anoop Gupta is stepping down as CEO of SeekOut on May 4 to become executive chairman, passing leadership to Sean Thompson, who will focus on scaling SeekOut's AI recruiting service and pursuing acquisitions for growth. Thompson, an enterprise tech veteran, previously led NAVEX and has experience with SAP, Microsoft, and AI startups.
Ramp Acquires 2024-Founded Corporate Travel Startup Juno Backed by Madrona
Ramp acquired Juno, a 2024-founded corporate travel expense startup backed by Madrona and Bungalow Ventures, with Juno’s founders continuing as co-CEOs. The acquisition aims to integrate Juno’s platform for managing non-employee expenses into Ramp’s fintech offerings while preserving Juno’s brand and team.
How to Sell AI Into the Enterprise: Pilots, Pricing, and Closing 12-Month Deals
What does it really take to sell an AI-native product into the Fortune 500? In this episode of Founded & Funded, Madrona Managing Director Matt McIlwain sits down with two founders deep in the trenches of enterprise AI adoption, Esha Joshi (Co-founder, Yoodli) and Anup Chamrajnagar (Co-founder, Gradial.) Their companies are selling into some of the world's most complex organizations, like Google, SAP, Snowflake, Databricks, and more. And they break down what founders often underestimate about enterprise AI sales. They dive into: Why most AI pilots fail and how to prevent it The "three-legged stool" of enterprise sales How AI…
Scala, Founded by Rajeev Singh and Ardie Sameti, Raises $8.5M to Enhance Contact Center Operations with AI
Scala, an AI startup founded by Smartsheet CEO Rajeev Singh and ex-Accolade exec Ardie Sameti, raised $8.5 million in seed funding to develop an operational intelligence platform improving contact center workflows across industries. The platform integrates data from multiple systems to provide insights, AI-driven agents, and decision-making support for contact centers in healthcare, travel, and financial services.
Amazon Leo VP Steve Rabuchin Retires; Madrona Partner Jon Turow Joins Anthropic; Meta's Hrvoje Benko Exits Amid Layoffs
Steve Rabuchin retired after over 20 years at Amazon, including leading Project Kuiper, while Jon Turow left Madrona to join Anthropic's technical team. Additionally, Hrvoje Benko departed Meta Reality Labs amid layoffs affecting 331 employees in Washington state.
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.
Seattle AI Startup Yoodli Raises $40M, Valuation Hits $300M, Shifts to Enterprise Experiential Learning
Seattle startup Yoodli, which offers AI-powered conversation coaching software, has tripled its valuation to about $300 million following a $40 million funding round announced just eight months after a $13.7 million raise. The company is shifting focus from consumer public speaking to enterprise experiential learning, partnering with firms like SAP and Google to improve employee communication skills.
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.
Seattle AI Startup Yoodli Raises $40M Series B Led by WestBridge Capital Amid 900% Revenue Growth
Seattle AI startup Yoodli raised $40 million in a Series B round led by WestBridge Capital, after reporting 900% revenue growth and tripling its staff to over 40. The company offers AI-powered conversational practice software used by major clients like SAP and Google, and plans to expand into experiential learning.
Amazon Broadly Launches Kiro, an AI Software Development Tool Using Spec-Driven Coding to Enhance Maintainability
Amazon has broadly launched Kiro, an AI-powered software development tool that uses a spec-driven approach to improve maintainability over traditional AI code generation. The launch features a unique stop-motion video campaign highlighting Kiro’s role in structuring AI-assisted coding, marking Amazon's deeper entry into the competitive AI development market.
Raj Singh, Concur Co-Founder, Named CEO of Smartsheet to Drive Growth with AI in Enterprise Software
Rajeev 'Raj' Singh, co-founder of Concur and former CEO of Accolade, has been named CEO of Smartsheet as the company looks to leverage its strong foundation and $1 billion revenue base to grow with AI innovations. Singh aims to capitalize on Smartsheet's established enterprise presence and significant opportunity to reshape work management software amid evolving industry dynamics.
Seattle Startup Temporal Raises $105M Secondary Round Led by GIC, Valued at $2.5B
Seattle-based developer tools startup Temporal raised $105 million in a secondary round led by GIC, raising its valuation to $2.5 billion. The company also appointed John Bonney as CFO and Jonathan Chadwick to its board, signaling strong investor confidence and leadership expansion.
Concur Co-Founders Back SCALA.AI to Revolutionize Customer Experience with AI Across Healthcare, Finance, and Retail
Seattle startup SCALA.AI, backed by Concur co-founders Raj Singh and Mike Hilton, is developing AI-driven customer experience solutions for sectors like healthcare, finance, and retail. Led by CEO Ardie Sameti, SCALA.AI aims to offer advanced, vertically tailored AI platforms beyond basic automation.
Palo Alto Networks Appoints Protect AI Co-Founders to AI Security Roles Following $500M Acquisition; Chainguard Adds CISO and CFO
Palo Alto Networks acquired Protect AI in April 2025 for over $500 million, appointing two of its co-founders, Ian Swanson and Daryan Dehghanpisheh, to key AI security roles. Chainguard, a $3.5 billion cybersecurity firm, hired Quincy Castro as CISO and Eyal Bar as CFO to strengthen its leadership team.
Seattle Startups Axtrolite, Context Nature, and Chassy Develop Software for Real Estate, Green Tax Credits, and Robotics, with Chassy Raising $1.2M Pre-Seed
Seattle-area startups highlighted include Axtrolite, developing real estate property management software; Context Nature, aiding finance professionals in finding green energy tax credits; and Chassy, which secured $1.2 million to build software for robotic fleets. These companies feature experienced founders with backgrounds at Amazon, Microsoft, Lyft, and more.
Icertis Raises $50M from B Capital to Reduce Debt, Reports $300M Annual Recurring Revenue in 2024
Icertis, a Bellevue-based contract management software company, raised $50 million from existing investor B Capital to pay down debt, marking over $500 million raised since its 2009 founding. Valued at $5 billion in 2021, Icertis reported $300 million in annual recurring revenue in 2024 and has been expanding its AI product offerings.
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.
Acumatica Opens 12,000-Square-Foot HQ in Bellevue, Plans 20% Global Staff Growth in 2024
Acumatica opened a new 12,000-square-foot headquarters in Bellevue, Washington, as part of a plan to increase its global workforce by 20% in 2024. The cloud ERP company, led by CEO John Case and employing nearly 700 people globally, is expanding despite shrinking office demand in the Seattle region.
Amperity CEO Barry Padgett Steps Down, Chris Jones Named Interim CEO as Startup Turns Profit
Barry Padgett is stepping down as CEO of Seattle-based startup Amperity to spend time with his teenage children, transitioning to an advisor role next month. Chris Jones, the current chief customer and product officer, will serve as interim CEO amid the company recently achieving profitability after several staff reductions.
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.
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.
People
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Christian Klein Executive, CEO
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Philipp Herzig Executive, Global CTO
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Sebastian Steinhäuser Executive, COO
