Madrona Adds John McAdam, Sujal Patel and Steve Singh as Strategic Directors
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 [email protected] 206-972-5514
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SOURCE Madrona Venture Group
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