SEATTLE--(BUSINESS WIRE)--Madrona today announced the closing of Fund X and Acceleration Fund IV which will be deployed in the next several years in new companies and support them through their life cycle. These funds come at the start of Madrona’s 30^th year of helping innovative founders build transformational companies in a broad range of technology areas including Applied AI, Developer Tools, Cloud, and AI-Enabled Biology across enterprise and consumer audiences. At $770 million, the new funds are the largest raised by the firm and enable the team to continue to build the greater Seattle ecosystem while expanding its presence in Silicon Valley.

“We are deeply grateful to our investors who share our belief in day one investing along with a strategy that provides the best of seed and acceleration stage company building. Our 30-year strategy of delivering the Seattle perspective, recently enhanced by a strong Silicon Valley team, is highly differentiated in the venture world. This past year, we’ve witnessed an accelerating pace of innovation, and we are delighted to have these new funds to support visionary founders and teams in a 'risk on' market environment. By leveraging data and applied AI at their core, these innovators are building the transformational companies of tomorrow.” - Matt McIlwain, managing director, Madrona.

Founded in 1995 with a seed investment in Amazon, Madrona has evolved to be a multi-stage venture firm, investing in pre-seed, seed, and Series A from Madrona Fund X and in new companies at the Acceleration stage (Series B and C) from its Acceleration Fund (AFIV). The firm opened an office in Palo Alto in 2022 and continues to invest in growing the team there as well as in the Seattle HQ.

This fundraise comes two and a half years after raising Madrona Fund IX and AF III. Notable recent investments include Unstructured, RunwayML, Statsig, MotherDuck, Read.ai, Cohesity, and Terray Therapeutics. For more information please visit Madrona Raises $770 million to Back Visionary Founders

About Madrona

Madrona (www.madrona.com) is a venture capital firm investing in visionary founders and teams across stages from pre-seed to Series C. Founded in 1995 with a Series A investment in Amazon, the firm invests across the technology landscape with a focus on Applied AI, Infrastructure and beyond from its headquarters in Seattle and a growing office in Palo Alto, CA. Madrona was an early investor in companies such as Snowflake, UIPath, Smartsheet, Rover, Redfin, Runway, Unstructured and Apptio.