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Investor profile

Madrona Venture Group

Venture Capital · Founded 1995 · Seattle, United States

Seed, early stage, and acceleration stage investor in startups in the Pacific NW and across the US. Focus on machine learning, AI, marketplaces, devops, biotech, and other tech sectors

283 portfolio companies Venture Capital · $13B invested · 524 investments · Investor rank #201 · Last investment 8/2026
Portfolio companies 283 ↑ 34% 5y
Decacorns 3
Thoroughbreds 25 ↑ 19% 5y
01 · Biggest holdings

Madrona Venture Group’s biggest current holdings.

The most valuable companies Madrona Venture Group still holds — unicorns and thoroughbreds it has backed, ordered by Dealroom’s latest valuation. Companies that have been acquired or gone public are in Exits instead. Where a cap table names Madrona Venture Group directly, the stake and its estimated value are shown too.

#CompanyEst. stakeValuationEst. value
  1. 1 RunwayUnicorn · Media · USA $5.3B
  2. 2 TemporalUnicorn · Enterprise Software · USA $5.0B
  3. 3 BranchUnicorn · Enterprise Software · USA $4.0B
  4. 4 ClariUnicorn · Marketing · USA $2.6B
  5. 5 Go1Unicorn · Education · Australia 5.5% $2.0B $110M
  6. 6 Axiom MathUnicorn · Enterprise Software · USA $1.6B
  7. 7 RouteUnicorn · Transportation · USA 5% $1.4B $70M
  8. 8 TaxBitUnicorn · Fintech · USA 1.2% $1.3B $16M
  9. 9 DeepgramUnicorn · Legal · USA $1.3B
  10. 10 QumuloUnicorn · Enterprise Software · USA $1.2B
  11. 11 SeekOutUnicorn · Jobs Recruitment · USA 9% $1.2B $108M
  12. 12 FLEXEUnicorn · Transportation · USA 6.5% $1.0B $65M

Estimated value = Madrona Venture Group’s disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. Madrona Venture Group also appears inside investor groups in Temporal, where a standalone stake isn’t disclosed. See the underlying cap tables on Dealroom →

02 · Exits

Madrona Venture Group’s biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from Madrona Venture Group’s transaction record.

$438M IPO · 1997
Entered SeedNow $3.1THome Living
$68B IPO · 2020
Entered Series B+Now $114BHosting
$36B IPO · 2021
Entered Series B+Now $6.6BEnterprise Software
$6.6B IPO · 2024
Entered Series ANow $18BEnterprise Software
$990M IPO · 2018
Entered Series ANow $7.2BEnterprise Software
Nextel Partners
$6.5B acquisition · 2006
Entered SeedTelecom
AQuantive
$6.3B acquisition · 2007
Entered SeedMarketing
IPO · 2016
Entered Series ANow $5.7BSemiconductors
$872M IPO · 2016
Entered Series ANow $4.6BEnterprise Software
$780M IPO · 2006
Entered Series ANow $2.3BEnterprise Software
$1.2B IPO · 2017
Entered Series ANow $2.3BReal Estate
$1.4B IPO · 2021
Entered SeedNow $1.6BHome Living
03 · Portfolio analysis

Where Madrona Venture Group’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 283 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. USA280
  2. Canada5
  3. France2
  4. UK2
  5. Australia1
  6. China1
  7. Czechia1
  8. Hong Kong1
  9. Israel1
  10. Spain1
  11. Türkiye1
By sectorCount
  1. Enterprise Software115
  2. Marketing36
  3. Health24
  4. Security24
  5. Media23
  6. Fintech19
  7. Travel10
  8. Education9
  9. Transportation9
  10. Legal8
  11. Gaming7
  12. Home Living7
By stage enteredCount
  1. Series A118
  2. Seed107
  3. Series B+56
By growth stageCount
  1. Breakout Stage132
  2. Early Growth105
  3. Late Growth57
  4. Mature2
04 · Portfolio market map

Inside Madrona Venture Group’s portfolio.

The 60 highest-funded portfolio companies, of 283 tracked.

UiPath
Enterprise Software · Unicorn
$6.6B
Snowflake
Hosting · Centicorn
$114B
Runway
Media · Unicorn
$5.3B
Branch
Enterprise Software · Unicorn
$4.0B
Temporal
Enterprise Software · Unicorn
$5.0B
Highspot
Marketing · Unicorn
$3.5B
Rubrik
Enterprise Software · Decacorn
$18B
Clari
Marketing · Unicorn
$2.6B
Observe
Enterprise Software
$624M
Go1
Education · Unicorn
$2.0B
iSpot.tv
Media
$120M
Qumulo
Enterprise Software · Unicorn
$1.2B
Rover
Home Living · Unicorn
$1.6B
FLEXE
Transportation · Unicorn
$1.0B
Nautilus
Health
$59M
Coda
Enterprise Software · Unicorn
$1.4B
Rec Room
Gaming · Unicorn
$3.5B
SecurityScorecard Inc.
Security
$950M
Route
Transportation · Unicorn
$1.4B
Axiom Math
Enterprise Software · Unicorn
$1.6B
Apptio
Enterprise Software · Unicorn
$4.6B
Seeq
Enterprise Software
$535M
TaxBit
Fintech · Unicorn
$1.3B
Deepgram
Legal · Unicorn
$1.3B
Accolade
Health
$576M
Jama Software
Enterprise Software · Unicorn
$1.2B
Booster
Energy
$500M
Echodyne
Security
$540M
CommerceIQ
Marketing · Unicorn
$1.0B
Terray Therapeutics
Health
$480M
Amperity
Marketing · Unicorn
$1.0B
SeekOut
Jobs Recruitment · Unicorn
$1.2B
Redfin
Real Estate · Unicorn
$2.3B
Typeface
Media · Unicorn
$1.0B
ExtraHop Networks
Security
$900M
Statsig
Enterprise Software · Unicorn
$1.1B
World Wide Packets
Telecom
$30M
Impinj
Semiconductors · Unicorn
$5.7B
OctoAI
Enterprise Software
$340M
Skytap
Media
$225M
Smartsheet
Enterprise Software · Unicorn
$7.2B
Gradial
Marketing
$675M
Spotnana Technology
Travel
$300M
Eclypsium
Security
$100M
Bolt | Stackblitz
Enterprise Software
$420M
Fauna Inc.
Enterprise Software
$108M
Clerk
Security
$200M
Pulumi
Enterprise Software
$164M
Common Room
Marketing
$300M
Faye
Travel
$500M
Esper.io
Enterprise Software
$240M
MotherDuck
Enterprise Software
$400M
HomeGrocer.com
Food
$400M
Relational
Enterprise Software
$375M
Isilon Systems
Enterprise Software · Unicorn
$2.3B
Indochino
Fashion
$128M
WildTangent
Gaming
$52M
TwinStrand Biosciences
Health
$250M
Read AI
Enterprise Software
$200M
PlexTrac
Security
$280M
05 · Portfolio founders

Where Madrona Venture Group’s portfolio founders come from.

151 founders across the 100 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. United States129
  2. United Kingdom7
  3. Australia3
  4. Peru2
  5. Canada1
  6. Israel1
  7. Japan1
  8. Romania1
  9. Singapore1
UniversityCount
  1. Stanford University8
  2. Stanford University Graduate School of Business7
  3. University of Washington6
  4. Cornell University4
  5. Dartmouth College4
  6. Harvard University4
  7. New York University4
  8. Princeton University4
  9. Carnegie Mellon University3
  10. Indian Institute of Technology, Delhi3
Previous companyCount
  1. Microsoft27
  2. Alphabet | Google8
  3. Amazon8
  4. CREATE6
  5. Climate Pledge Fund5
  6. Stanford University5
  7. Uber5
  8. IBM4
  9. Sunopsis4
  10. Tangosol4