Apr
14
2021
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PlexTrac raises $10M Series A round for its collaboration-centric security platform

PlexTrac, a Boise, ID-based security service that aims to provide a unified workflow automation platform for red and blue teams, today announced that it has raised a $10 million Series A funding round led by Noro-Moseley Partners and Madrona Venture Group. StageDot0 ventures also participated in this round, which the company plans to use to build out its team and grow its platform.

With this new round, the company, which was founded in 2018, has now raised a total of $11 million, with StageDot0 leading its 2019 seed round.

PlexTrac CEO and President Dan DeCloss

PlexTrac CEO and President Dan DeCloss. Image Credits: PlexTrac

“I have been on both sides of the fence, the specialist who comes in and does the assessment, produces that 300-page report and then comes back a year later to find that some of the critical issues had not been addressed at all. And not because the organization didn’t want to but because it was lost in that report,” PlexTrac CEO and President Dan DeCloss said. “These are some of the most critical findings for an entity from a risk perspective. By making it collaborative, both red and blue teams are united on the same goal we all share, to protect the network and assets.”

With an extensive career in security that included time as a penetration tester for Veracode and the Mayo Clinic, as well as senior information security advisor for Anthem, among other roles, DeCloss has quite a bit of firsthand experience that led him to found PlexTrac. Specifically, he believes that it’s important to break down the wall between offense-focused red teams and defense-centric blue teams.

Image Credits: PlexTrac

“Historically there has been more of the cloak and dagger relationship but those walls are breaking down — and rightfully so, there isn’t that much of that mentality today — people recognize they are on the same mission whether they are an internal security team or an external team,” he said. “With the PlexTrac platform the red and blue teams have a better view into the other teams’ tactics and techniques — and it makes the whole process into an educational exercise for everyone.”

At its core, PlexTrac makes it easier for security teams to produce their reports — and hence free them up to actually focus on “real” security work. To do so, the service integrates with most of the popular scanners like Qualys, and Veracode, but also tools like ServiceNow and Jira in order to help teams coordinate their workflows. All the data flows into real-time reports that then help teams monitor their security posture. The service also features a dedicated tool, WriteupsDB, for managing reusable write-ups to help teams deliver consistent reports for a variety of audiences.

“Current tools for planning, executing and reporting on security testing workflows are either nonexistent (manual reporting, spreadsheets, documents, etc. …) or exist as largely incomplete features of legacy platforms,” Madrona’s S. Somasegar and Chris Picardo write in today’s announcement. “The pain point for security teams is real and PlexTrac is able to streamline their workflows, save time, and greatly improve output quality. These teams are on the leading edge of attempting to find and exploit vulnerabilities (red teams) and defend and/or eliminate threats (blue teams).”

 

Mar
17
2021
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OctoML raises $28M Series B for its machine learning acceleration platform

OctoML, a Seattle-based startup that offers a machine learning acceleration platform built on top of the open-source Apache TVM compiler framework project, today announced that it has raised a $28 million Series B funding round led by Addition. Previous investors Madrona Venture Group and Amplify Partners also participated in this round, which brings the company’s total funding to $47 million. The company last raised in April 2020, when it announced its $15 million Series A round led by Amplify

The promise of OctoML, which was founded by the team that also created TVM, is that developers can bring their models to its platform and the service will automatically optimize that model’s performance for any given cloud or edge device.

As Brazil-born OctoML co-founder and CEO Luis Ceze told me, since raising its Series A round, the company started onboarding some early adopters to its “Octomizer” SaaS platform.

Image Credits: OctoML

“It’s still in early access, but we are we have close to 1,000 early access sign-ups on the waitlist,” Ceze said. “That was a pretty strong signal for us to end up taking this [funding]. The Series B was pre-emptive. We were planning on starting to raise money right about now. We had barely started spending our Series A money — we still had a lot of that left. But since we saw this growth and we had more paying customers than we anticipated, there were a lot of signals like, ‘hey, now we can accelerate the go-to-market machinery, build a customer success team and continue expanding the engineering team to build new features.’ ”

Ceze tells me that the team also saw strong growth signals in the overall community around the TVM project (with about 1,000 people attending its virtual conference last year). As for its customer base (and companies on its waitlist), Ceze says it represents a wide range of verticals that range from defense contractors to financial services and life science companies, automotive firms and startups in a variety of fields.

Recently, OctoML also launched support for the Apple M1 chip — and saw very good performance from that.

The company has also formed partnerships with industry heavyweights like Microsoft (which is also a customer), Qualcomm and AMD to build out the open-source components and optimize its service for an even wider range of models (and larger ones, too).

On the engineering side, Ceze tells me that the team is looking at not just optimizing and tuning models but also the training process. Training ML models can quickly become costly and any service that can speed up that process leads to direct savings for its users — which in turn makes OctoML an easier sell. The plan here, Ceze tells me, is to offer an end-to-end solution where people can optimize their ML training and the resulting models and then push their models out to their preferred platform. Right now, its users still have to take the artifact that the Octomizer creates and deploy that themselves, but deployment support is on OctoML’s roadmap.

“When we first met Luis and the OctoML team, we knew they were poised to transform the way ML teams deploy their machine learning models,” said Lee Fixel, founder of Addition. “They have the vision, the talent and the technology to drive ML transformation across every major enterprise. They launched Octomizer six months ago and it’s already becoming the go-to solution developers and data scientists use to maximize ML model performance. We look forward to supporting the company’s continued growth.”


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Oct
15
2020
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Temporal raises $18.75M for its microservices orchestration platform

Temporal, a Seattle-based startup that is building an open-source, stateful microservices orchestration platform, today announced that it has raised an $18.75 million Series A round led by Sequoia Capital. Existing investors Addition Ventures and Amplify Partners also joined, together with new investor Madrona Venture Group. With this, the company has now raised a total of $25.5 million.

Founded by Maxim Fateev (CEO) and Samar Abbas (CTO), who created the open-source Cadence orchestration engine during their time at Uber, Temporal aims to make it easier for developers and operators to run microservices in production. Current users include the likes of Box and Snap.

“Before microservices, coding applications was much simpler,” Temporal’s Fateev told me. “Resources were always located in the same place — the monolith server with a single DB — which meant developers didn’t have to codify a bunch of guessing about where things were. Microservices, on the other hand, are highly distributed, which means developers need to coordinate changes across a number of servers in different physical locations.”

Those servers could go down at any time, so engineers often spend a lot of time building custom reliability code to make calls to these services. As Fateev argues, that’s table stakes and doesn’t help these developers create something that builds real business value. Temporal gives these developers access to a set of what the team calls “reliability primitives” that handle these use cases. “This means developers spend far more time writing differentiated code for their business and end up with a more reliable application than they could have built themselves,” said Fateev.

Temporal’s target use is virtually any developer who works with microservices — and wants them to be reliable. Because of this, the company’s tool — despite offering a read-only web-based user interface for administering and monitoring the system — isn’t the main focus here. The company also doesn’t have any plans to create a no-code/low-code workflow builder, Fateev tells me. However, since it is open-source, quite a few Temporal users build their own solutions on top of it.

The company itself plans to offer a cloud-based Temporal-as-a-Service offering soon. Interestingly, Fateev tells me that the team isn’t looking at offering enterprise support or licensing in the near future. “After spending a lot of time thinking it over, we decided a hosted offering was best for the open-source community and long-term growth of the business,” he said.

Unsurprisingly, the company plans to use the new funding to improve its existing tool and build out this cloud service, with plans to launch it into general availability next year. At the same time, the team plans to say true to its open-source roots and host events and provide more resources to its community.

“Temporal enables Snapchat to focus on building the business logic of a robust asynchronous API system without requiring a complex state management infrastructure,” said Steven Sun, Snap Tech Lead, Staff Software Engineer. “This has improved the efficiency of launching our services for the Snapchat community.”

Oct
05
2020
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Strike Graph raises $3.9M to help automate security audits

Compliance automation isn’t exactly the most exciting topic, but security audits are big business and companies that aim to get a SOC 2, ISO 207001 or FedRamp certification can often spend six figures to get through the process with the help of an auditing service. Seattle-based Strike Graph, which is launching today and announcing a $3.9 million seed funding round, wants to automate as much of this process as possible.

The company’s funding round was led by Madrona Venture Group, with participation from Amplify.LA, Revolution’s Rise of the Rest Seed Fund and Green D Ventures.

Strike Graph co-founder and CEO Justin Beals tells me that the idea for the company came to him during his time as CTO at machine learning startup Koru (which had a bit of an odd exit last year). To get enterprise adoption for that service, the company had to get a SOC 2 security certification. “It was a real challenge, especially for a small company. In talking to my colleagues, I just recognized how much of a challenge it was across the board. And so when it was time for the next startup, I was just really curious,” he told me.

Image Credits: Strike Graph

Together with his co-founder Brian Bero, he incubated the idea at Madrona Venture Labs, where he spent some time as Entrepreneur in Residence after Koru.

Beals argues that today’s process tends to be slow, inefficient and expensive. The idea behind Strike Graph, unsurprisingly, is to remove as many of these inefficiencies as is currently possible. The company itself, it is worth noting, doesn’t provide the actual audit service. Businesses will still need to hire an auditing service for that. But Beals also argues that the bulk of what companies are paying for today is pre-audit preparation.

“We do all that preparation work and preparing you and then, after your first audit, you have to go and renew every year. So there’s an important maintenance of that information.”

Image Credits: Strike Graph

When customers come to Strike Graph, they fill out a risk assessment. The company takes that and can then provide them with controls for how to improve their security posture — both to pass the audit and to secure their data. Beals also noted that soon, Strike Graph will be able to help businesses automate the collection of evidence for the audit (say your encryption settings) and can pull that in regularly. Certifications like SOC 2, after all, require companies to have ongoing security practices in place and get re-audited every 12 months. Automated evidence collection will launch in early 2021, once the team has built out the first set of its integrations to collect that data.

That’s also where the company, which mostly targets mid-size businesses, plans to spend a lot of its new funding. In addition, the company plans to focus on its marketing efforts, mostly around content marketing and educating its potential customers.

“Every company, big or small, that sells a software solution must address a broad set of compliance requirements in regards to security and privacy. Obtaining the certifications can be a burdensome, opaque and expensive process. Strike Graph is applying intelligent technology to this problem — they help the company identify the appropriate risks, enable the audit to run smoothly and then automate the compliance and testing going forward,” said Hope Cochran, managing director at Madrona Venture Group. “These audits were a necessary pain when I was a CFO, and Strike Graph’s elegant solution brings together teams across the company to move the business forward faster.”

Sep
23
2020
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WhyLabs brings more transparancy to ML ops

WhyLabs, a new machine learning startup that was spun out of the Allen Institute, is coming out of stealth today. Founded by a group of former Amazon machine learning engineers, Alessya Visnjic, Sam Gracie and Andy Dang, together with Madrona Venture Group principal Maria Karaivanova, WhyLabs’ focus is on ML operations after models have been trained — not on building those models from the ground up.

The team also today announced that it has raised a $4 million seed funding round from Madrona Venture Group, Bezos Expeditions, Defy Partners and Ascend VC.

Visnjic, the company’s CEO, used to work on Amazon’s demand forecasting model.

“The team was all research scientists, and I was the only engineer who had kind of tier-one operating experience,” she told me. “So I thought, “Okay, how bad could it be? I carried the pager for the retail website before. But it was one of the first AI deployments that we’d done at Amazon at scale. The pager duty was extra fun because there were no real tools. So when things would go wrong — like we’d order way too many black socks out of the blue — it was a lot of manual effort to figure out why issues were happening.”

Image Credits: WhyLabs

But while large companies like Amazon have built their own internal tools to help their data scientists and AI practitioners operate their AI systems, most enterprises continue to struggle with this — and a lot of AI projects simply fail and never make it into production. “We believe that one of the big reasons that happens is because of the operating process that remains super manual,” Visnjic said. “So at WhyLabs, we’re building the tools to address that — specifically to monitor and track data quality and alert — you can think of it as Datadog for AI applications.”

The team has brought ambitions, but to get started, it is focusing on observability. The team is building — and open-sourcing — a new tool for continuously logging what’s happening in the AI system, using a low-overhead agent. That platform-agnostic system, dubbed WhyLogs, is meant to help practitioners understand the data that moves through the AI/ML pipeline.

For a lot of businesses, Visnjic noted, the amount of data that flows through these systems is so large that it doesn’t make sense for them to keep “lots of big haystacks with possibly some needles in there for some investigation to come in the future.” So what they do instead is just discard all of this. With its data logging solution, WhyLabs aims to give these companies the tools to investigate their data and find issues right at the start of the pipeline.

Image Credits: WhyLabs

According to Karaivanova, the company doesn’t have paying customers yet, but it is working on a number of proofs of concepts. Among those users is Zulily, which is also a design partner for the company. The company is going after mid-size enterprises for the time being, but as Karaivanova noted, to hit the sweet spot for the company, a customer needs to have an established data science team with 10 to 15 ML practitioners. While the team is still figuring out its pricing model, it’ll likely be a volume-based approach, Karaivanova said.

“We love to invest in great founding teams who have built solutions at scale inside cutting-edge companies, who can then bring products to the broader market at the right time. The WhyLabs team are practitioners building for practitioners. They have intimate, first-hand knowledge of the challenges facing AI builders from their years at Amazon and are putting that experience and insight to work for their customers,” said Tim Porter, managing director at Madrona. “We couldn’t be more excited to invest in WhyLabs and partner with them to bring cross-platform model reliability and observability to this exploding category of MLOps.”

Aug
21
2020
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Box CEO Aaron Levie says thrifty founders have more control

Once upon a time, Box’s Aaron Levie was just a guy with an idea for a company: 15 years ago as a USC student, he conceived of a way to simply store and share files online.

It may be hard to recall, but back then, the world was awash with thumb drives and moving files manually, but Levie saw an opportunity to change that.

Today, his company helps enterprise customers collaborate and manage content in the cloud, but when Levie appeared on an episode of Extra Crunch Live at the end of May, my colleague Jon Shieber and I asked him if he had any advice for startups. While he was careful to point out that there is no “one size fits all” advice, he did make one thing clear:

“I would highly recommend to any company of any size that you have as much control of your destiny as possible. So put yourself in a position where you spend as little amount of dollars as you can from a burn standpoint and get as close to revenue being equal to your expenses as you can possibly get to,” he advised.

Don’t let current conditions scare you

Levie also advised founders not to be frightened off by current conditions, whether that’s the pandemic or the recession. Instead, he said if you have an idea, seize the moment and build it, regardless of the economy or the state of the world. If, like Levie, you are in it for the long haul, this too will pass, and if your idea is good enough, it will survive and even thrive as you move through your startup growth cycle.

Jul
01
2020
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Fauna raises an additional $27M to turn databases into a simple API call

Databases have always been a complex part of the equation for developers requiring a delicate balance to manage inside the application, but Fauna wants to make adding a database a simple API call, and today it announced $27 million in new funding.

The round, which is technically an extension of the company’s 2017 Series A, was led by Madrona Venture Group with participation from Addition, GV, CRV, Quest Ventures and a number of individual investors. Today’s investment brings the total raised to $57 million, according to the company.

While it was at it, the company also added some executive fire power, announcing that it was bringing on former Okta chief product officer Eric Berg as CEO and former Snowflake CEO Bob Muglia as Chairman.

Companies like Stripe for payments and Twilio for communications are the poster children for the move to APIs. Instead of building sophisticated functionality from scratch, a developer can use an API call to a service, and presto, has the tooling built in without any fuss. Fauna does the same thing for databases.

“Within a few lines of code with Fauna, developers can add a full-featured globally distributed database to their applications. They can simplify code, reduce costs and ship faster because they never again worry about database issues such as correctness, capacity, scalability, replication, etc,” new CEO Berg told TechCrunch.

To automate the process even further, the database is serverless, meaning that it scales up or down automatically to meet the needs of the application. Company co-founder Evan Weaver, who has moved to CTO with the hiring of Berg, says that Stripe is a good example of how this works. “You don’t think about provisioning Stripe because you don’t have to. […] You sign up for an account and beyond that you don’t have to provision or operate anything,” Weaver explained.

Like most API companies, it’s working at the developer level to build community and developer consensus around it. Today, they have 25,000 developers using the tool. While they don’t have an open-source version, they try to attract developer interest with a generous free tier, after which you can pay as you go or set up a fixed monthly pricing as you scale up.

The company has always been 100% remote, so when COVID hit, it didn’t really change anything about the way the company’s 40 employees work. As the company grows, Berg says it has aggressive goals around diversity and inclusion.

“Our recruiting and HR team have some pretty aggressive targets in terms of thinking about diversity in our pipelines and in our recruiting efforts, and because we’re a small team today we have the ability to impact that as we grow. If we doubled the size of the company, we could shift those percentages pretty dramatically, so it’s something that is definitely top of mind for us.”

Weaver says that fundraising began at the beginning of this year before COVID hit, but the term sheet wasn’t signed until March. He admits being nervous throughout the process, especially as the pandemic took hold. A company like Fauna is highly technical and takes time to grow, and he worried getting investors to understand that, even without a bleak economic picture, was challenging.

“It’s a deep tech business and it takes real capital to grow and scale. It’s a high-risk, high-reward bet, which is easier to fund in boom times, but broadly I think the best companies get built during recessions when there’s less competition for talent and there’s more focus on capital.”

May
18
2020
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GO1, an enterprise learning platform, picks up $40M from Microsoft, Salesforce and more

With a large proportion of knowledge workers doing now doing their jobs from home, the need for tools to help them feel connected to their profession can be as important as tools to, more practically, keep them connected. Today, a company that helps do precisely that is announcing a growth round of funding after seeing engagement on its platform triple in the last month.

GO1.com, an online learning platform focused specifically on professional training courses (both those to enhance a worker’s skills as well as those needed for company compliance training), is today announcing that it has raised $40 million in funding, a Series C that it plans to use to continue expanding its business. The startup was founded in Brisbane, Australia and now has operations also based out of San Francisco — it was part of a Y Combinator cohort back in 2015 — and more specifically, it wants to continue growth in North America, and to continue expanding its partner network.

GO1 not disclosing its valuation but we are asking. It’s worth pointing out that not only has it seen engagement triple in the last month as companies turn to online learning to keep users connected to their professional lives even as they work among children and house pets, noisy neighbours, dirty laundry, sourdough starters, and the rest (and that’s before you count the harrowing health news we are hit with on a regular basis). But even beyond that, longer term GO1 has shown some strong signs that speak of its traction.

It counts the likes of the University of Oxford, Suzuki, Asahi and Thrifty among its 3,000+ customers, with more than 1.5 million users overall able to access over 170,000 courses and other resources provided by some 100 vetted content partners. Overall usage has grown five-fold over the last 12 months. (GO1 works both with in-house learning management systems or provides its own.)

“GO1’s growth over the last couple of months has been unprecedented and the use of online tools for training is now undergoing a structural shift,” said Andrew Barnes, CEO of GO1, in a statement. “It is gratifying to fill an important void right now as workers embrace online solutions. We are inspired about the future that we are building as we expand our platform with new mediums that reach millions of people every day with the content they need.”

The funding is coming from a very strong list of backers: it’s being co-led by Madrona Venture Group and SEEK — the online recruitment and course directory company that has backed a number of edtech startups, including FutureLearn and Coursera — with participation also from Microsoft’s venture arm M12; new backer Salesforce Ventures, the investing arm of the CRM giant; and another previous backer, Our Innovation Fund.

Microsoft is a strategic backer: GO1 integrated with Teams, so now users can access GO1 content directly via Microsoft’s enterprise-facing video and messaging platform.

“GO1 has been critical for business continuity as organizations navigate the remote realities of COVID-19,” said Nagraj Kashyap, Microsoft Corporate Vice President and Global Head of M12, in a statement. “The GO1 integration with Microsoft Teams offers a seamless learning experience at a time when 75 million people are using the application daily. We’re proud to invest in a solution helping keep employees learning and businesses growing through this time.”

Similarly, Salesforce is also coming in as a strategic, integrating this into its own online personal development products and initiatives.

“We are excited about partnering with GO1 as it looks to scale its online content hub globally. While the majority of corporate learning is done in person today, we believe the new digital imperative will see an acceleration in the shift to online learning tools. We believe GO1 fits well into the Trailhead ecosystem and our vision of creating the life-long learner journey,” said Rob Keith, Head of Australia, Salesforce Ventures, in a statement.

Working remotely has raised a whole new set of challenges for organizations, especially those whose employees typically have never before worked for days, weeks and months outside of the office.

Some of these have been challenges of a more basic IT nature: getting secure access to systems on the right kinds of machines and making sure people can communicate in the ways that they need to to get work done.

But others are more nuanced and long-term but actually just as important, such as making sure people remain in a healthy state of mind about work. Education is one way of getting them on the right track: professional development is not only useful for the person to do her or his job better, but it’s a way to motivate people, to focus their minds, and take a rest from their routines, but in a way that still remains relevant to work.

GO1 is absolutely not the only company pursuing this opportunity. Others include Udemy and Coursera, which have both come to enterprise after initially focusing more on traditional education plays. And LinkedIn Learning (which used to be known as Lynda, before LinkedIn acquired it and shifted the branding) was a trailblazer in this space.

For these, enterprise training sits in a different strategic place to GO1, which started out with compliance training and onboarding of employees before gravitating into a much wider set of topics that range from photography and design, through to Java, accounting, and even yoga and mindfulness training and everything in between.

It’s perhaps the directional approach, alongside its success, that have set GO1 apart from the competition and that has attracted the investment, which seems to have come ahead even of the current boost in usage.

“We met GO1 many months before COVID-19 was on the tip of everyone’s tongue and were impressed then with the growth of the platform and the ability of the team to expand their corporate training offering significantly in North America and Europe,” commented S. Somasegar, managing director, Madrona Venture Group, in a statement. “The global pandemic has only increased the need to both provide training and retraining – and also to do it remotely. GO1 is an important link in the chain of recovery.” As part of the funding Somasegar will join the GO1 board of directors.

Notably, GO1 is currently making all COVID-19 related learning resources available for free “to help teams continue to perform and feel supported during this time of disruption and change,” the company said.

Feb
26
2020
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Freshworks acquires AnsweriQ

Customer engagement platform Freshworks today announced that it has acquired AnsweriQ, a startup that provides AI tools for self-service solutions and agent-assisted use cases where the ultimate goal is to quickly provide customers with answers and make agents more efficient.

The companies did not disclose the acquisition price. AnsweriQ last raised a funding round in 2017, when it received $5 million in a Series A round from Madrona Venture Group.

Freshworks founder and CEO Girish Mathrubootham tells me that he was introduced to the company through a friend, but that he had also previously come across AnsweriQ as a player in the customer service automation space for large clients in high-volume call centers.

“We really liked the team and the product and their ability to go up-market and win larger deals,” Mathrubootham said. “In terms of using the AI/ML customer service, the technology that they’ve built was perfectly complementary to everything else that we were building.”

He also noted the client base, which doesn’t overlap with Freshworks’, and the talent at AnsweriQ, including the leadership team, made this a no-brainer.

AnsweriQ, which has customers that use Freshworks and competing products, will continue to operate its existing products for the time being. Over time, Freshworks, of course, hopes to convert many of these users into Freshworks users as well. The company also plans to integrate AnsweriQ’s technology into its Freddy AI engine. The exact branding for these new capabilities remains unclear, but Mathrubootham suggested FreshiQ as an option.

As for the AnsweriQ leadership team, CEO Pradeep Rathinam will be joining Freshworks as chief customer officer.

Rathinam told me that the company was at the point where he was looking to raise the next round of funding. “As we were going to raise the next round of funding, our choices were to go out and raise the next round and go down this path, or look for a complementary platform on which we can vet our products and then get faster customer acquisition and really scale this to hundreds or thousands of customers,” he said.

He also noted that as a pure AI player, AnsweriQ had to deal with lots of complex data privacy and residency issues, so a more comprehensive platform like Freshworks made a lot of sense.

Freshworks has always been relatively acquisitive. Last year, the company acquired the customer success service Natero, for example. With the $150 million Series H round it announced last November, the company now also has the cash on hand to acquire even more customers. Freshworks is currently valued at about $3.5 billion and has 2,7000 employees in 13 offices. With the acquisition of AnsweriQ, it now also has a foothold in Seattle, which it plans to use to attract local talent to the company.

Jan
15
2020
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Former Docker CEO Steve Singh joins Madrona

Madrona Venture Group announced today that it has hired former Docker CEO Steve Singh as a managing director at the firm.

Singh stepped down as CEO of Docker last May and Seattle-based Madrona seems like a logical landing spot. He is a longtime resident of Seattle, and has been working behind the scenes with Madrona for many years as a strategic director and angel investor, according to the firm.

Singh says that while there are a number of areas he’s interested in, he wants to concentrate on intelligent applications in the enterprise. “While there are a number of broad themes we are excited about, I am particularly passionate about the potential of intelligent applications to transform business and our lives. Next-generation, cloud-native application companies such as Clari, HighSpot and Amperity have incredible opportunities to solve large-scale business challenges and become multi-billion-dollar businesses,” he said in a statement.

He certainly has broad enterprise experience. Beyond Docker, he was chairman and CEO at Concur for more than 20 years, and oversaw the company’s sale to SAP in 2014 for a hefty $8.3 billion. In addition, he sits on a variety of boards, including Clari, Talend, DocuSign and others.

Holger Mueller, an analyst with Constellation Research, says it was clear Singh wouldn’t stay on the sidelines for long with “Retired” on his LinkedIn profile. “Given Singh’s experience and connections, we expect him to be a force to be reckoned with in the VC space,” he told TechCrunch.

Singh joins S. Somasegar, who was a former corporate vice president at Microsoft, and Hope Cochran, who was a longtime CFO and helped take a couple of companies public, as managing directors added at the firm in recent years.

Madrona is celebrating its 25th anniversary in business this year, and can boast that one of its earliest investments was a Series A for a little Seattle startup called Amazon.

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