Madrona Venture Group Investment Strategies and Portfolio

Madrona Venture Group is a well-established venture capital firm based in Seattle, with a strong focus on supporting innovative companies in the Pacific Northwest. They have invested in numerous successful startups over the years.

Their investment strategies are centered around identifying and backing talented entrepreneurs and their teams. Madrona Venture Group has a proven track record of investing in companies that have the potential to make a significant impact in their respective markets.

One of the key aspects of Madrona's investment strategy is their focus on companies that are developing innovative technologies and business models. They have a keen eye for spotting emerging trends and opportunities in areas such as cloud computing, artificial intelligence, and cybersecurity.

Madrona Venture Group has made a significant number of investments, with 612 investments to their name. Their latest investment was in Aizen Therapeutics as part of their Series A on November 21, 2024.

They have also been involved in various acquisitions, with one notable example being Direct Travel. Acquired on April 02, 2024, the exact valuation of the deal was $XXM.

Madrona Venture Group's investments and acquisitions have been well-documented, with sources available for those interested in learning more.

Madrona Venture Group has made a significant impact in the investment world with a total of 612 investments to date. This number is a testament to their dedication and expertise in identifying promising startups.

Their investment stage of entry tends to be at the Series A level, with 103 investments in this stage alone. This is followed closely by Seed investments, with 87 investments in this category.

Madrona Venture Group's portfolio is diverse, with investments in various sectors such as Enterprise Applications, High Tech, and Consumer. Enterprise Applications stand out as the most popular sector, with 142 investments.

Here's a breakdown of Madrona Venture Group's investment stages and sectors:

Madrona Venture Group has also collaborated with numerous co-investors over the years, with a total of 1167 investors participating in their portfolio companies.

Countries like China and India are investing heavily in infrastructure, with a focus on building high-speed rail networks and upgrading their transportation systems.

The United States is investing in renewable energy, particularly solar power, with many states offering incentives for homeowners to install solar panels on their roofs.

Brazil is investing in agriculture, with a focus on expanding its soybean and corn production to meet growing global demand.

The UK is investing in technology, with a focus on artificial intelligence and biotechnology, and has established several innovation hubs across the country.

Madrona Venture Group made a notable acquisition in 2024. They acquired Direct Travel on April 2nd of that year.

The acquisition was a debt investment, indicating that Madrona Venture Group provided funding to Direct Travel in the form of a loan. This type of investment is often used to help companies grow and expand their operations.

The valuation of Direct Travel was $XXM, although the exact amount is not specified in the available data.

Madrona Venture Group has a diverse portfolio of companies across various sectors. They have invested in consumer internet, commercial software, and services, cloud computing, digital media, and advertising, among others.

Some notable companies in their portfolio include Smartsheet, which they first invested in with a Series A round of $2.69M in 2007. Another notable company is HelloTech, which they invested in with a Series A round of $13.2M in 2015.

Here are some of the companies in Madrona's portfolio:

Madrona Venture Group has also invested in companies that have gone public, such as Snowflake, which they invested in with a Series D round of $100M in 2017.

Madrona Venture Group has had a successful track record of exits, with several portfolio companies going public.

UiPath, a software company, went public on November 12, 2021, after Madrona's investment in 2018.

ReNew, a renewable energy company, went public on August 27, 2021, after receiving $3 million in Series A funding from Madrona in 2016.

Nautilus Biotechnology, a biotech company, went public on June 10, 2021, after raising $76.1 million in Series B funding from Madrona in 2020.

Snowflake, a cloud-based data warehousing company, went public on September 16, 2020, after receiving $100 million in Series D funding from Madrona in 2017.

Accolade, a healthcare technology company, went public on July 20, 2020, after raising $70 million in Series E funding from Madrona in 2016.

Here are the IPO dates for Madrona's portfolio companies:

Madrona Venture Group has a remarkable track record of portfolio exits, with a total of 128 successful exits.

Their latest portfolio exit was Coda, which was acquired by Grammarly on December 17, 2024, for a valuation of $XXM.

The diversity of their portfolio exits is impressive, with various types of exits, including acquisitions and mergers.

In fact, out of their 128 portfolio exits, at least 4 were acquisitions, and 1 was a merger.

Here are the details of their recent portfolio exits:

It's worth noting that the valuations of these exits are not publicly disclosed, but they are likely to be significant given the involvement of major companies like Grammarly and NVIDIA.

Madrona Venture Group has a diverse portfolio of companies across various sectors.

One of the companies in their portfolio is Octo, which was acquired in September 2024. They first invested in Octo in 2019 with a seed round of $3.93 million.

Smartsheet, another company in their portfolio, was acquired in September 2024 as well. Madrona first invested in Smartsheet in 2007 with a series A round of $2.69 million.

In addition to these acquired companies, Madrona has also invested in startups like XetData, MOD, HelloTech, and many others.

Here's a list of some of the companies in Madrona's portfolio:

Madrona Venture Group has also invested in companies like Apptio, Impinj, Redfin, and Rover.com, which have gone on to become successful public companies.

Acquisitions are a crucial part of any venture capital firm's portfolio, and Madrona Venture Group is no exception. They have made several significant acquisitions in recent years.

One of their notable acquisitions was Direct Travel, which they acquired on April 2, 2024. This acquisition was a debt investment, with a valuation of $XXM.

Madrona Venture Group's portfolio also includes several other notable companies that have been acquired, including Octo, Smartsheet, XetData, MOD, and HelloTech. These companies have all received significant funding from Madrona Venture Group.

Here's a breakdown of the acquisition dates and funding amounts for these companies:

These acquisitions demonstrate Madrona Venture Group's commitment to supporting and growing successful companies in their portfolio.

As I review the technology stacks of various companies, I'm struck by the diversity of tools and systems they use. Madrona Venture Group, for example, utilizes Amazon s3, a cloud-based storage system by AWS.

Amazon s3 is a powerful tool for storing and managing large amounts of data, and it's a key component of many companies' technology stacks.

Madrona Venture Group has a strong financial foundation, with a $1.7 billion fund under management. This significant investment pool allows the firm to support its portfolio companies with substantial resources.

The firm's success is also reflected in its returns, with a reported 3x return on investment for its fifth fund. This impressive track record demonstrates the firm's ability to generate value for its investors.

Madrona Venture Group's financial strength enables it to invest in a wide range of companies, from early-stage startups to more established businesses.

Madrona Venture Group reported an annual revenue of $18.5 million in 2025.

This is a relatively modest figure compared to some other venture capital firms.

Let's take a look at the number of employees at some of the companies we've been exploring. 84 people are employed at Madrona Venture Group.

The NAICS code is a crucial identifier for businesses, and understanding what it represents can help you navigate financial information with ease.

The NAICS code is a six-digit number that categorizes businesses by type and industry.

For instance, Madrona Venture Group's NAICS codes are quite extensive, covering multiple categories such as 52392, 523, 523920, 5239, 52, 523930, and 52393.

These codes provide a standardized way to identify and classify businesses, making it easier to access financial data and statistics.

In the case of Madrona Venture Group, their NAICS codes give us a glimpse into their specific business activities and areas of focus.

Madrona Venture Group was founded in 1995 by Steve Galbraith and Paul Goodavage.

The firm's early focus was on investing in companies that leveraged technology to improve the human experience.

Madrona's first investment was in a company called NetMarket, which was one of the first online retailers.

In the late 1990s, Madrona began to focus more on the Pacific Northwest region, investing in companies like Amazon and Zymogenetics.

Madrona Venture Group has a strong network of partners and customers.

Madrona Venture Group has invested in over 160 companies, including Amazon, Zillow, and Smartsheet.

Their portfolio companies have gone on to achieve significant milestones, with some becoming household names.

Madrona's partners include experienced investors and entrepreneurs who provide valuable guidance and support to their portfolio companies.

Some of their notable partners include Jeff Bezos, Greg Gottesman, and Matt McIlwain.

Madrona's customers are also a key part of their ecosystem, with many of them using their portfolio companies' products and services.

Steve Singh has been keeping busy, with his latest move being the acquisition of travel management company Direct Travel through his investment company Madrona Ventures. He stepped into the executive chairman role and brought in a leadership team consisting of former Concur employees.

Madrona Venture Group has invested in several companies, including Direct Travel, Spotnana, and Troop. Singh is also managing director at Madrona Venture Group.

Steve Singh's vision of a "Perfect Trip" has been a driving force behind his investments. He has talked about this vision since his Concur days.

Singh recently announced plans to combine Direct Travel's customer experience strengths with the technology of other companies in which he has invested. This includes Center, Spotnana, and Troop.

Madrona Ventures led a $6 million investment in Otto, an artificial intelligence-powered travel assistant. Direct Travel is also an investor in Otto.

Steve Singh will be speaking at the Phocuswright Conference 2024 in November, where he will participate in an Executive Interview: Upending Corporate Travel (Again!).