Seattle-based Madrona Venture Group has named entrepreneur Steve Singh, the cofounder and former top executive of Concur, to a leading role as as managing director.
Singh played a key role as Concur’s chief executive officer from 1993 to 2017 in building the Bellevue-based tech company into a powerhouse focused on corporate travel and expense management. Concur was acquired by European software company SAP SE in 2014 for $8.3 billion ― the largest acquisition in the Pacific Northwest at the time.
More recently, Singh served as the chief executive officer of open-source software San Francisco-based company Docker Inc.
“Steve is a truly exceptional leader and mentor who is passionate about sharing his many years of company-building experience with outstanding entrepreneurs and their companies,” says Matt McIlwain, managing director at Madrona Venture Group. “Steve has been a Madrona strategic director for many years [and] an active angel investor. He has already been incredibly valuable to our companies and other rapidly growing companies, and we are very excited to have him working with us to find new companies and actively foster our current portfolio.”
Madrona, founded in 1995, invests in early stage tech firms in the Pacific Northwest and was an early investor in companies that have since come to define Seattle’s tech landscape, including Amazon, Smartsheet, Rover and Redfin. To date, Madrona has raised about $1.8 billion across seven funds. Its investment partners include major institutional investors such as BlackRock, the Kauffman Foundation, American Family Mutual Insurance and the University of Washington endowment.
“Madrona has actively expanded the investment team [and] Singh is the third managing director appointed in recent years [out of a total of nine] with significant operating and company-building experience,” Madrona states in a press announcement. “He joins S. Somasegar, previously corporate vice president of Microsoft’s developer division, where he launched products used by hundreds of thousands of developers to build modern applications; and Hope Cochran, a chief financial officer and operator who has taken two companies public and raised billions of dollars across different industries.”
Singh earned Seattle Business magazine’s Tech Impact Champion award in 2017. The award recognizes a distinguished career of work in the tech field.