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Madrona Venture Group is an American venture capital firm founded in 1995 and based in Seattle, Washington. Madrona has made over 300 investments in 110 companies since its inception.[1][2] It is one of the most active venture funds in the Pacific Northwest, and Madrona-backed companies represent about 40% of all dollars invested in the Seattle region.[3][4]

History

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Madrona was founded in 1995 in Seattle, Washington, by Tom Alberg, Paul Goodrich, Gerald Grinstein, and William Ruckelshaus.[5][3] It has raised more than $1.6 billion in capital through seven different funds.[6]

Madrona specializes in seed, startup, Series A, and early stage investments in the information technology sector.[7][1] It has had four startups go public since 2016:[8]

In 2014, Madrona launched a startup studio, Madrona Venture Labs, as an in-house startup incubator.[10] Its most recent fund, Madrona Fund VII, raised $300 million.[10] In 2018, Madrona opened Create33 in downtown Seattle as a 'founder center.'[11]

Investments

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Madrona has made more than 300 investments in 110 companies as of January 2019.[1][2] Notable companies the firm has invested in include:

Notable employees

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In addition to the four founders there are several other notable employees. S. Somasegar is a managing director while John W. Creighton Jr., John McAdam, and Sujal Patel are strategic directors.[22][23][24] Oren Etzioni, Professor of Computer Science and Executive Director of the Allen Institute for Artificial Intelligence, is a venture partner along with Dan Weld, Professor of Computer Science and Engineering at the University of Washington.[25][26]

Notable former employees

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Kris Engskov, formerly Starbucks Director of Public Policy, now President at Aegis Living.[27][28]

References

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  1. ^ a b c "Madrona Venture Group". Crunchbase. Retrieved 24 January 2019.
  2. ^ a b "Madrona Venture Group Portfolio". Retrieved 24 January 2019.
  3. ^ a b Lerman, Rachel (May 22, 2018). "Madrona Venture raises another $300 million fund to invest in Northwest startups". The Seattle Times.
  4. ^ a b c Cook, John (March 30, 2015). "The mighty Madrona: Why one VC firm is so critical to Seattle (and why that's a little scary)". GeekWire.
  5. ^ "Company Overview of Madrona Venture Group, LLC". Bloomberg. Retrieved 24 January 2019.
  6. ^ "Madrona Raises $300M In New Venture Investment Fund". Northwest Innovation. May 22, 2018.
  7. ^ a b c d e Marshall, Patrick. "Madrona Venture Group Has Big Plans for the Seattle Area Tech Industry". Seattle Business Magazine. No. October 2018.
  8. ^ Loizos, Connie (May 22, 2015). "For Madrona Venture Group, four IPOs in 20 months and a brand-new fund". TechCrunch.
  9. ^ Cook, John (August 18, 2009). "Andreessen, Madrona and others back Apptio with $14 million". Puget Sound Business Journal.
  10. ^ a b Gage, Deborah (December 10, 2014). "Madrona Venture Group Launches Studio to Build New Startups". The Wall Street Journal.
  11. ^ Soper, Taylor (July 25, 2018). "An inside look at Create33: Madrona's new 'founder center' attempts to spark Seattle entrepreneurs". GeekWire.
  12. ^ "Animoto Inks $25M from Spectrum, Madrona, Amazon". VC News Daily. June 29, 2011.
  13. ^ Winfrey, Graham (October 26, 2015). "Why These Startups Want to Eliminate Gas Stations". Inc.
  14. ^ Cook, John (July 16, 2013). "Data analytics startup Context Relevant scores $7M series A from Madrona, Bloomberg and others". GeekWire.
  15. ^ Tu, Janet (July 2, 2016). "Online cosmetics company Julep puts on fresh brick-and-mortar face". The Seattle Times.
  16. ^ Dorbian, Iris (August 15, 2017). "VC-backed Netsertive buys Mixpo". PE Hub.
  17. ^ "Madrona Venture Group Closes $250 Million Madrona Venture Fund IV". Business Wire. June 11, 2008.
  18. ^ Peterson, Kim (January 28, 2006). "Microsoft acquiring Seadragon Software". The Seattle Times.
  19. ^ Buchanan, Jeff (May 22, 2018). "Madrona Raises $300M Fund to Back Tech Startups in Seattle and Beyond". Xconomy.
  20. ^ Cook, John (February 2, 2012). "Exclusive: Amazon.com buys TeachStreet". GeekWire.
  21. ^ Huang, Gregory (August 13, 2009). "Report: Z2Live Raises $3M from Madrona". Xconomy.
  22. ^ Lardinois, Frederic (January 12, 2017). "Madrona appoints Microsoft's former developer division chief as managing partner". TechCrunch.
  23. ^ "Executive Profile John W. Creighton Jr". Bloomberg. Retrieved 24 January 2019.
  24. ^ Cook, John (March 19, 2015). "F5 CEO John McAdam; Isilon co-founder Sujal Patel and Concur CEO Steve Singh join Madrona as strategic directors". GeekWire.
  25. ^ "Xnor.ai Announces $2.6 Million in Seed Funding from Madrona, Allen Institute to Bring Powerful, Lightweight AI to Mobile Phones and IoT Devices". BusinessWire. February 2, 2017.
  26. ^ "Dan Weld Faculty Profile". University of Washington. Retrieved 24 January 2019.
  27. ^ Wood, Zoe (December 8, 2011). "Starbucks' Kris Engskov: from Oval Office to daily grind". The Guardian.
  28. ^ Bowers, Lois A. "With growth plans brewing, Aegis Living looks to former Starbucks executive to fill president's role". McKnights Senior Living. Haymarket Media, Inc. Retrieved 4 February 2019.
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{{Venture capital firms}} {{Private equity and venture capital}} <!-- Please remove these nowiki tags to restore the categories when you return the article to mainspace--><nowiki> {{DEFAULTSORT:Madrona Venture Group}} [[Category:Companies established in 1995]] [[Category:Venture capital firms of the United States]] [[Category:Private equity firms of the United States]] [[Category:Companies based in Seattle]]

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