Steve Singh
Steve Singh is Co-founder of Concur and Managing Director at Madrona Venture Group, and currently serves as Board Member at Clari and Leaf Logistics, and Executive Chairman at CovenantIQ and Direct Travel. He co-founded Concur, which is still running.
Insurtech Faye raises $50M led by Madrona, bringing total funding to $100M as it scales AI and international growth
Faye, a Richmond-based travel insurance app, raised $50 million led by Madrona, bringing its total funding to $100 million since 2022 to scale AI, expand internationally, and improve claims and UX; the company reported millions of customers and $100 million in annualized revenue last year. Co-founder and CEO Elad Schaffer called the raise a shift from startup to scale-up as Faye pursues growth toward a possible future IPO.
Madrona Leads Faye’s Series C; Chris (Madrona) Joins Board as Faye Reimagines Travel Insurance
Madrona is leading Faye’s Series C investment because Faye has built a better, autonomous traveler care platform and improved whole-trip travel insurance that addresses slow, confusing incumbent products. The firm highlights travel’s growing disruptions and says Faye’s product delivers faster, more usable protection and better claims experiences for modern travelers.
Faye Raises $50M Series C on Aug 5, 2026 to Build Autonomous AI Traveler Care Platform, Total Funding Reaches $100M
Faye announced a $50 million Series C on Aug 5, 2026 to build an autonomous AI platform for traveler care, bringing total funding to $100 million and funding AI investments, partnerships, and global expansion.
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.
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.
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.
Steve Singh of Madrona Ventures Group on upending corporate travel - The #Phocuswright Conference
Entrepreneur, investor and business leader, Steve Singh is once again aiming to transform corporate travel. Learn how this visionary continues his quest to make "the perfect trip" a reality. Speakers Steve Singh Executive Chairman at Direct Travel, Center, Troop Travel and Spotnana, and Managing Director, Madrona Venture Group LLC Interviewer Linda Fox Executive Editor, PhocusWire
Travel Again Podcast - Interview with Steve Singh | S2E5
TRAVEL AGAIN Podcast presents… The Bi-Weekly Travel Roundup, covering the headwinds and tailwinds Impacting the Business of Travel. This week, we interview Steve Singh, Managing Director, Madrona Venture Group & CEO Spotnana
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
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.
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.
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…
Concur Founder Steve Singh Leads Acquisition of Direct Travel to Enhance Corporate Travel Experience
Steve Singh, former CEO of Concur, led a group of investors in acquiring Direct Travel, a corporate travel management firm with over $300 million in revenue, aiming to create a seamless travel experience. Christal Bemont has been appointed as the new CEO of Direct Travel, with Singh serving as executive chairman.
Center Raises $30M Series C to Expand Corporate Expense Software with API and Bank Partnerships
Center, a Seattle-area startup offering a corporate credit card and real-time expense analytics platform used by over 1,000 companies, raised $30 million in Series C funding to expand via APIs and potential bank partnerships. The company has seen 64% customer growth and doubled revenue, aiming to innovate with AI and industry-specific integrations.
Spotnana Secures $75M Series B Led by Durable Capital to Build 'AWS for Travel Industry'
New York City startup Spotnana raised $75 million in a Series B funding led by Durable Capital Partners LP to develop an open platform for business travel technology, with investments from Madrona Venture Group and others. The company aims to rebuild travel industry infrastructure and anticipates a strong post-pandemic recovery in business travel.
Executive Interview: #Madrona Venture Group - Steve Singh - The #Phocuswright Conference
Steve Singh, Managing Director, Madrona Venture Group LLC Interviewer Charuta Fadnis, SVP, Research and Product Strategy, Phocuswright Inc. He turned the otherwise drab world of expense management on its ear, and now he hopes to take his game plan ("great team, great products with a great culture") to new heights. Steve Singh tells us where we’re all headed.
Spotnana raises $34M Series A led by Madrona and ICONIQ to modernize business-travel software
Spotnana, a business-travel software startup founded by Sarosh Waghmar and Shikhar Agarwal, raised $34 million in a Series A led by Madrona Venture Group and ICONIQ to offer an API-friendly, integrated travel platform with consumption-based pricing. The company, chaired by Concur co-founder Steve Singh and with former Expedia CFO Greg Stanger on its board, serves about 50 corporate customers and aims to modernize booking, spending visibility, and integrations with HR and expense systems.
Madrona Venture Group’s Steve Singh Details Six Post-COVID Tech Trends and Reasons for Hope on GeekWire Podcast
Steve Singh, managing director of Madrona Venture Group and former CEO of Docker and Concur, joined GeekWire to discuss reasons for hope and six technology trends to watch as the Pacific Northwest emerges from the pandemic, in a special episode tied to the 2021 virtual GeekWire Awards.
Madrona's Steve Singh on 6 tech trends to watch post-COVID
The 2021 virtual GeekWire Awards were held this week, recognizing the top companies, innovators, entrepreneurs and technologies in the Pacific Northwest, as nominated and chosen by the GeekWire community — along with celebrity cameos. On this special episode of the GeekWire Podcast, we’re featuring highlights from a behind-the-scenes conversation with former Docker and Concur CEO Steve Singh, managing director of Madrona Venture Group, which was hosted for finalists in advance of the awards by GeekWire co-founder John Cook. See omnystudio.com/listener for privacy information.
Madrona Venture Labs raises $8M and turns investors like Spencer Rascoff into co‑founders of spinouts
Madrona Venture Labs has raised $8 million for its fourth fund and introduced a model that makes investors — including Spencer Rascoff, Julie Larson-Green and Elena Donio — co-founders, board members, and advisors of its spinouts to attract talent and accelerate startup formation. Founded in 2014, the Seattle-based studio has spun out more than a dozen companies, including recent spinouts Zeitworks, Simplata, and Stratify.
Madrona Venture Labs Raises $8M Led by Madrona, Adds Former CEOs and Operators as Investors
Madrona Venture Labs (MVL), the incubation arm of Madrona Venture Group, has raised $8M with Madrona leading the round and brought on a roster of experienced operators and former CEOs as investors to help build spun-out companies. MVL will continue partnering closely with Madrona’s investment professionals on startups like Stratify and Strike Graph as it expands its incubation efforts.
Madrona hires John Torrey as first partner outside Pacific Northwest, expands Acceleration Fund investing to Texas and Utah
Seattle-based Madrona Venture Group hired John Torrey, its first investment partner based outside the Pacific Northwest, to help source and support Acceleration Fund investments from Texas and Utah as the firm expands geographically. Madrona also raised $161 million for its Acceleration Fund II and hired Katie Chiupka as manager of business development and partnerships.
Madrona Venture Group Raises $345M for 8th Fund and $161M for 2nd Later-Stage Fund in Largest Ever $500M Capital Raise
Madrona Venture Group raised over $500 million for its largest fundraise ever, including $345 million for an eighth early-stage fund targeting 35-40 Pacific Northwest startups and $161 million for a second later-stage Acceleration Fund. The firm continues to focus on supporting the Pacific Northwest tech ecosystem while also backing later-stage companies across North America.
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.
Learn from a Leader: Steve Singh on Leadership and Decision Making
Leaders can't be afraid of changing decisions or making them. Steve Singh, managing director at Madrona Venture Group joined the Learn from a Leader series to offer this advice on the decision-making process good leaders use - especially in times of uncertainty. Conversation Starters | Asking Better Questions | Leadership Lessons| Camera Ready talksportytome.com
Organizations
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Direct Travel Executive Chairman 2024–present · current
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Spotnana Chief Executive Officer [Interim] 2024–present, Executive Chairman 2020–present · current
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Leaf Logistics Board Member 2021–present · current
