Seattle, WA-based venture capital firm Madrona Venture Group launched an in-house startup studio.
Led by Managing Director Greg Gottesman and serial entrepreneur Joe Heitzeberg, joined by a team of developers and designers, Madrona Venture Labs focuses on building software applications and services. The team, which also includes Amy Falcone, Brian Fioca, Ben Gilbert, Brendan Ribera and Matt Terich, incubates concepts that it can validate quickly with customer traction. It has already spun out one company, Spare5, and is working on additional companies to be launched in 2015.
Spare5, a mobile-optimized, on-demand insights platform, has just announced $3.25m in seed funding from New Enterprise Associates, Foundry Group and Madrona (read here).