Madrona Venture Group

Last updated
Madrona Venture Group
TypePrivately held company
IndustryPrivate Equity
FounderTom Alberg
Paul Goodrich
Gerald Grinstein
William Ruckelshaus
Headquarters
Seattle, Washington, US
Website https://www.madrona.com/

Madrona Venture Group is an American venture capital firm, founded in 1995 and based in Seattle, Washington. [1] Madrona specializes in seed, startup, Series A and early stage investments. [2]

Contents

Company

Madrona was founded in 1995 by Tom Alberg, Paul Goodrich, Gerald Grinstein, and William Ruckelshaus. [3] Madrona has invested in the information technology sector including consumer internet commercial software and services, cloud computing, digital media and advertising, wireless, networking, mobile, and infrastructure sectors. [4] As of 2015, more than 90% of the firms investments were in companies based in the Pacific Northwest. [5]

In 2012, Madrona raised a $300 million fund. [6]

In 2014, Madrona Venture Group launched a startup studio, Madrona Venture Labs, as an in-house startup incubator. [7]

In 2018, Madrona raised Madrona Fund VII of $300 million. [8]

In October 2020, Madrona Venture Group invested in Temporal, a Seattle-based company that is developing microservice orchestration platform. [9]

At the end of 2020, the Group announced that it had raised over $500 million in new capital. [10] Over $345 million of that figure was raised for its eighth fund, its largest to date, and $161 million for a second later-stage fund. [11]

In September 2022, Madrona Venture Group raised its largest fund ever, $690 million. [12]

Companies invested in include:

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References

  1. "Madrona Venture Group Has Big Plans for the Seattle Area Tech Industry". Seattle Business Magazine. 2018-10-02. Retrieved 2018-12-04.
  2. "Madrona Venture Group". Businessweek. Archived from the original on February 16, 2010. Retrieved 4 November 2014.
  3. "Company Overview of Madrona Venture Group, LLC". Bloomberg. Retrieved 24 January 2019.
  4. "Madrona Venture Group: Private Company Information - Businessweek". www.bloomberg.com. Retrieved 2016-07-25.
  5. "New Madrona $300M fund to be invested in tech companies". 2015-06-04. Retrieved 2016-07-25.
  6. "The mighty Madrona: Why one VC firm is so critical to Seattle (and why that's a little scary)". 2015-03-30. Retrieved 2016-07-25.
  7. Wall Street Journal Madrona Venture Group Launches Studio to Build New Startups December 10, 2014
  8. "Madrona Venture raises another $300 million fund to invest in Northwest startups". The Seattle Times. 2018-05-22. Retrieved 2018-10-07.
  9. "Temporal raises $18.75M for its microservices orchestration platform". techcrunch. 16 October 2020. Retrieved 17 October 2020.
  10. "Seattle-based Madrona raises $345M for its eighth early-stage fund". 29 December 2020.
  11. "Madrona Venture Group raises $345M for 8th fund, its largest ever, and $161M for 2nd later-stage fund". GeekWire. 2020-12-30. Retrieved 2021-07-05.
  12. Soper, Taylor (2022-09-13). "Madrona Venture Group raises $690M for two new funds to back startups in Seattle and elsewhere". GeekWire. Retrieved 2022-11-18.
  13. 1 2 3 "Madrona Venture Group Has Big Plans for the Seattle Area Tech Industry | Seattle Business Magazine". www.seattlebusinessmag.com. 2 October 2018. Retrieved 2018-10-07.
  14. Mike, Rogoway (December 3, 2018). "Intel-backed cybersecurity startup Eclypsium raises $8.75 million". oregonlive.com. Retrieved 2018-12-04.