SEATTLE, March 19, 2015 /PRNewswire/ -- Madrona Venture
Group announced today the addition of three new Strategic
Directors. John McAdam,
Sujal Patel and Steve Singh will work with Madrona portfolio
company founders and executives, sharing their insight and
operating experiences as CEOs who grew smaller businesses into
highly successful, public technology companies. As CEOs of F5
Networks (NASDAQ: FFIV), Isilon Systems (acquired by EMC) and
Concur (acquired by SAP) respectively, these executives have built
market leaders that have generated billions in revenue and economic
value.
"We have known and worked with these three successful
Seattle area CEOs for many years
and it's great to have them more closely helping talented
entrepreneurs grow and scale promising companies," said
Matt McIlwain, Managing Director,
Madrona Venture Group. "We are also pleased that John, Sujal
and Steve share our passion for helping the innovation ecosystem in
the Pacific Northwest realize its full potential in the years
ahead."
Madrona has invested in or with each of the new members of the
team.
- John McAdam, President, CEO, and
Director, F5 Networks, board member of Tableau and Madrona
portfolio company Apptio. McAdam has served for fifteen years
as the CEO of F5 Networks where he has grown the company into a
powerhouse. Under his leadership, the company has grown revenue
from $110 million to over
$1.7 billion, and secured a spot for
F5 Networks on the S&P 500 with an approximately $8 billion market
capitalization.
- Sujal Patel, Founder and Former
CEO, Isilon Systems. Founded Isilon Systems in 2001 with Madrona's
backing, which was acquired by EMC for $2.5
billion in 2010. Sujal serves on the boards of Madrona
portfolio companies ExtraHop Networks and Qumulo and is an active
angel investor in the Seattle
technology community.
- Steve Singh, CEO, Concur and
Member, SAP Global Managing Board; Steve co-founded Concur 20 years
ago and grew it into a leading global SAAS business. He also
formed The Perfect Trip Fund at Concur that invested with Madrona
in Buuteeq(acquired by Priceline). He is on the board of
Cleartrip, Castlight Health and Modumetal. Concur was
acquired by SAP for $8.3 billion in
late 2014.
About Madrona Venture Group
Madrona (www.madrona.com)
has been investing in early-stage technology companies in the
Pacific Northwest since 1995 and has been privileged to play a role
in some of the region's most successful technology ventures. The
firm invests predominantly in seed and Series A rounds across the
information technology spectrum, including consumer Internet,
commercial software and services, digital media and advertising,
networking and cloud computing, and mobile. Madrona manages
approximately $1 billion and was an
early investor in companies such as Amazon.com, Apptio, Isilon
Systems, Z2live, and Redfin.
Contact:
Erika Shaffer
erika@madrona.com 206-972-5514
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SOURCE Madrona Venture Group