Snowflake
Facts
- HQ
- none
- Sectors
- Cloud, Data warehousing, Data governance, Data platform
- Stage
- Public
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 NoxuData Wins $250K from Madrona Venture Labs to Expand AI Data Platform for CPG Companies
Seattle-based startup NoxuData, which provides an AI platform to help consumer packaged goods companies analyze fragmented data, won $250,000 in pre-seed funding after winning the Madrona Venture Labs competition. Led by co-founders Dae Kim and David Lee, the company offers a conversational dashboard that delivers context-driven insights beyond financial metrics to improve decision-making.
Data Visionary Bob Muglia on Data, AI, and New Book — 'The Datapreneurs'
This week we have the pleasure of having former Snowflake CEO Bob Muglia on the show again. Bob is an active investor and sits on the boards of many next-generation data platform companies, and more recently, he launched his first book — "The Datapreneurs." Given the long history between Bob and Madrona Managing Partner Soma, we had to have Bob joins us again to talk about his new book and dive into the world of data and AI. These two old friends discuss what exactly a datapreneur is and the Arc of Data Innovation concept Bob wrote about in his…
Seattle Health-Tech Startup DexCare Raises $75M to Expand Patient Appointment Platform
Seattle health-tech startup DexCare raised $75 million to enhance its healthcare patient demand and access platform, one of the Pacific Northwest's largest venture capital deals this year. DexCare, spun out of Providence in 2021, serves major customers including Kaiser Permanente and Providence, aiming to address healthcare system capacity and patient appointment booking challenges.
Statsig Releases Warehouse Native Platform and AI Experimentation Tools Under CEO Vijaye Raji
Statsig, founded by Vijaye Raji in 2021, has released Statsig Warehouse Native, enabling privacy-conscious companies to run A/B testing via their own data warehouses. The Seattle startup also launched generative AI experimentation tools and now serves hundreds of paying customers including Microsoft and Notion.
Panther Labs Founder Jack Naglieri on Cloud-Native SIEM and Self-Growth
This week on Founded & Funded, Madrona Partner Vivek Ramaswami talks to Jack Naglieri, Founder and CEO of 2022 IA40 winner Panther Labs. Jack founded Panther, a leading cloud-native security information and event management platform, because he had experienced first-hand the threat detection challenges companies have at cloud scale. Growing frustrated with the compromises required by traditional SIEM platforms, Jack took his experiences from Yahoo and Airbnb and set out to build a solution that detects and responds to suspicious activity in real time. In this IA40 spotlight episode, Jack shares where the inspiration to launch his own company came…
MotherDuck's Jordan Tigani and DuckDB's Hannes Mühleisen on partnerships and commercializing open-source projects
This week, Madrona Partner Jon Turow brings us a story about a great partnership forming between two people, who had never even met, when they each find themselves on a mission to focus on what it is they do best. You'll hear from Hannes Mühleisen, creator of the DuckDB open-source project, and Jordan Tigani, the database leader who saw an opportunity to commercialize it, about the lightning-bolt moment that led to one of them flying halfway around the world to meet — how does this happen and how do they set their partnership up to be the foundation of a…
Seattle Startup Keyplay Raises $3M Led by MHS Capital to Launch Sales Lead Aggregation Platform
Seattle startup Keyplay, co-founded by Adam Schoenfeld, raised $3 million led by MHS Capital to launch a subscription platform that aggregates and scores sales leads. The platform integrates multiple data sources to help sales teams identify potential accounts and currently serves eight customers with plans to expand offerings by mid-2023.
Data Visionary Bob Muglia on the Modern Data Stack and Lessons from Snowflake
In this week's episode which is leading up to our Intelligent Applications Summit on November 2nd, Soma speaks with Bob Muglia. Bob has thought deeply about the Modern Data Stack and they speak about it here - what is needed in the data stack to enable Intelligent Applications (or data driven apps as Bob calls them) and the opportunities for new companies to innovate. Bob is also well known as the CEO that took Snowflake from a promising application for the public cloud to success by focusing on the problem of scaling a data warehouse in the cloud, and building…
Madrona Venture Group raises $120M Fund VII Extension to support 10–12 portfolio companies from its 2018 $300M fund
Madrona Venture Group has raised a $120 million Fund VII Extension Fund from prior investors to provide follow-on capital for 10–12 companies from its 2018 $300 million Fund VII, responding to larger, faster rounds in today’s frothy venture market.
SoundCommerce raises $15M Series A to centralize retailers' data into Snowflake or BigQuery
Seattle startup SoundCommerce raised $15 million in a Series A to help online retailers centralize commerce data into Snowflake or BigQuery warehouses and gain analytics for profitability, forecasting, logistics and inventory. CEO Eric Best says the product integrates with platforms like Amazon, Shopify and Magento to help brands scale back-office operations and "think and act like Amazon."
Pioneer Square Labs spins out 25 startups in five years; six launched during pandemic surge
Seattle startup studio Pioneer Square Labs (PSL) spun out 25 startups in five years — six during a six-month pandemic stretch — by rapidly testing ideas, though it has yet to produce a breakout unicorn and faces criticism over founder dilution.
Seattle Reaches 10 Unicorns Worth $1B+, Mostly Enterprise Software Firms with Microsoft Links
Seattle now has 10 unicorn startups valued at $1 billion or more, many concentrated in enterprise software/cloud computing and driven by rapid digital transformation and strong revenue run rates. Most have immigrant founders and Microsoft ties, but none have female co-founders or CEOs.
GeekWire Podcast: Salesforce to buy Slack for $27.7B; AWS surprises at re:Invent; Tanium (valued $9B, $430M revenue) moves HQ to Seattle
GeekWire Podcast discusses Salesforce’s $27.7 billion acquisition of Slack, surprising announcements from AWS at re:Invent, and cybersecurity firm Tanium relocating its headquarters to the Seattle region with $9 billion valuation and $430M revenue, with commentary from Madrona’s Matt McIlwain on regional and cloud/enterprise implications.
Tom Alberg invested in Amazon’s 1995 seed round, joined its board and co-founded Madrona to build Seattle’s tech scene
Tom Alberg invested in Amazon’s 1995 seed round, joined its board, and later co-founded Madrona Investment Group to back Pacific Northwest internet startups, helping shape Seattle’s tech ecosystem. His early bets and leadership influenced regional tech growth and left a legacy noted by Jeff Bezos and others.
NEA leads $37.5M Series B in Seattle cloud startup Pulumi, bringing total funding to $57.5M
Seattle startup Pulumi raised $37.5 million in a Series B led by NEA, bringing its total funding to $57.5 million to expand R&D and sales/marketing. NEA partner Aaron Jacobson will join Pulumi’s board alongside existing investors Madrona Venture Group and Tola Capital.
Temporal raises $20M Series A led by Sequoia to commercialize open-source microservices orchestration
Temporal, a Seattle startup founded by former Uber engineers and cloud veterans, raised $20 million in a Series A led by Sequoia to commercialize its open-source microservices orchestration platform that improves developer productivity and reliability. Major customers include Snap, Box, Checkr, HashiCorp, and Coinbase, and investors include Madrona, Addition, Amplify and Snowflake ex-CEO Bob Muglia.
Snowflake, Madrona and a giant IPO; Bill Gates Sr.; Apple, UW and COVID
Here’s what we’re talking about on the GeekWire Podcast this week: Snowflake, the data warehousing company, came out with a bang this week in its public debut, raising $3.4 billion in the largest software IPO ever. It reignited a debate over the the IPO process and inequality in the allocation of shares when a company goes public. Snowflake's IPO was also a successful outcome for Seattle's Madrona Venture Group, resulting from a departure from its normal investing strategy. We'll explain what happened, and what it could mean for the future. When Bill Gates Sr. died this week at age 94…
Athira Pharma prices IPO at $17, sells 12M shares to raise $204M; will trade as ATHA on Nasdaq
Seattle biotech Athira Pharma priced its IPO at $17 per share, selling 12 million shares to raise at least $204 million and will begin trading on Nasdaq under ticker ATHA; the company is developing NDX-1017 for neurodegenerative diseases and has no commercial products yet. Founded in 2011 and led by CEO Dr. Leen Kawas, Athira reported net losses in 2019 and H1 2020 and has raised over $100 million privately, including an $85 million Series B.
Snowflake raises $3.4B in largest software IPO, opens at $245 and closes at $253.93 valuing company over $60B; Madrona an early investor
Snowflake raised $3.4 billion in the largest-ever software IPO, pricing at $120 and opening at $245 before closing at $253.93 to value the company above $60 billion; early investor Madrona Venture Group, which invested in 2017, benefited though it holds under 5% and did not disclose stake value.
UiPath raises $225M Series E led by Alkeon, valued at $10.2B as RPA demand rises
UiPath raised $225 million in a Series E round led by Alkeon Capital, valuing the robotic process automation company at $10.2 billion; the firm reports over $400 million in annual recurring revenue and says COVID-19 increased demand for automation.
Madrona leads $27M round in Fauna; Bob Muglia named executive chairman, Eric Berg becomes CEO
Madrona Venture Group led a $27 million investment in Fauna, the San Francisco-based database startup founded by two former Twitter engineers, bringing total funding to $57 million and appointing Bob Muglia as executive chairman and Eric Berg as CEO. Fauna focuses on cloud-native, serverless-accessible databases (FaunaDB) and will add Madrona’s S. Somasegar to its board.
Week in Geek: Uber takes Seattle to court and Bertha gets her big break
Uber won a small victory in its legal battle with the City of Seattle this week, but the fight is far from over. In more promising news, Seattle's giant tunnel boring machine, Bertha, finally reached the finishing line of the nearly two-mile tunnel she's been creating under the city. We get first-hand accounts of both events from GeekWire reporters on this episode of the Week in Geek, and also take a look at some interesting shifts in the startup funding landscape. See omnystudio.com/listener for privacy information.
