About Madworks
Madworks, an accelerator and incubator program founded in 2014, is based in Madison, United States. With a presence in 2 countries, it has supported around 96 startups in sectors like Enterprise Applications, High Tech. As of Oct 2026, Madworks has witnessed 3 portfolio exits. Most notable companies in
its portfolio include Immuto Scientific, Polco and Curate Solutons. The program is backed by a team of 2 people who primarily support Grant (prize money) startups based in United States. Its latest investment was a Undisclosed Grant (prize money) round in CalmLet on Oct 2019.
Key Metrics
Founded Year
2014
Location
Madison, United States
Portfolio Companies
Sectors of Investment
Stages of Investment
Grant (prize money)
Locations of Investment
Madworks' List of Top Investments
Madworks has a portfolio of 96 companies. Their most notable investments include Immuto Scientific and Polco.Their portfolio spans across United States and Netherlands. They have invested in Enterprise Applications, High Tech, Consumer and 22 other sectors, across stages such as Grant (prize money) stage. Here is the list of top investments by Madworks:_1571983136170.png?format=webp&height=120&width=120){kind=logo}
Key facts about Immuto Scientific
- Founded Year: 2018
- Location: Madison (United States)
- Stage: Seed
- Total Funding till date: $2.3M
- Employee Count: 15 as on Aug 31, 2026
- Investors: WARF, Venture Management and 7 Others
- Latest Funding Round: Seed, Oct 12, 2021, $*****
2. Polco
Provider of community engagement platform, surveys, data dashboards, and AI solutions. The platform offers tools for resident feedback, benchmark surveys, and data analysis. It assists governments and organizations in understanding community needs. The platform includes simulation tools and AI capabilities for data-driven insights and strategic guidance.
Key facts about Polco
- Founded Year: 2015
- Location: Mountain View (United States)
- Valuation: $*****
- Stage: Series B
- Total Funding till date: $24.3M
- Employee Count: 73 as on Jun 30, 2026
- Investors: Royal Street Ventures, Mercury Fund and 6 Others
- Latest Funding Round: Series B, Oct 03, 2022, $*****
- Highlight: Editors' Pick
Curate is a provider of an AI-platform to search through multiple government documents relating to infrastructure/construction projects. The product offerings include CurateBUILD and CurateLOCAL. It scrapes websites for search keywords and runs relevant documents through its AI engine for providing insights. Its chief target market consists of construction/engineering professionals and municipal corporations.
Key facts about Curate Solutons
- Founded Year: 2016
- Location: Madison (United States)
- Stage: Acquired
- Total Funding till date: $2.15M
- Employee Count: 5 as on Sep 30, 2026
- Investors: Allos Ventures, Wavemaker Partners and 5 Others
- Latest Funding Round: Seed, Jul 15, 2019, $*****
- Highlight: Acquired
4. TCARE
Key facts about TCARE
- Founded Year: 2014
- Location: United States
- Stage: Series A
- Total Funding till date: $20.7M
- Employee Count: 93 as on Aug 31, 2026
- Investors: Aflac Ventures, Kaiser Permanente and 18 Others
- Latest Funding Round: Series A, May 09, 2023, $*****
Key facts about Kilter Rewards
- Founded Year: 2016
- Location: Madison (United States)
- Stage: Acquired
- Total Funding till date: $20K
- Employee Count: 2 as on May 31, 2026
- Investors: Right Side Capital Management, HealthX Ventures and 3 Others
- Latest Funding Round: Seed, Nov 09, 2018, $*****
- Highlight: Acquired
Madworks' Year-on-Year Investment Trends
Madworks has invested in 96 companies over the last 12 years, with an average of 4 new investments annually in the last 10 years. Its most recent first time investment was in CalmLet and most recent follow-on round was in THE JILLS OF ALL TRADES.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 0 | 0 | 0 |
2023 | 0 | 0 | 0 |
2022 | 0 | 0 | 0 |
2021 | 0 | 0 | 0 |
2020 | 0 | 0 | 0 |
2019 | 7 | 0 | 7 |
2018 | 15 | 0 | 15 |
2017 | 15 | 0 | 15 |
Madworks' Investments by Stage
Madworks has made 79 investments in Grant (prize money) stage.Madworks' Investments by Sector
Madworks has a diverse portfolio, with companies operating in the Enterprise Applications, HealthTech, Vertical SaaS, Business Services and High Tech. Notably, it has invested in 49 Tech companies, 35 Enterprise (B2B) companies, 35 Software companies and at least 24 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 24 |
HealthTech | 9 |
Vertical SaaS | 8 |
Business Services | 7 |
High Tech | 7 |
Others | 60 |
Note: We have considered here, only first round of investments
Madworks' Investments by Geography
Madworks has made most investments in United States (71), followed by Netherlands where it has made 1 investment.Country | No. of Investments |
|---|---|
United States | 71 |
Netherlands | 1 |
United Kingdom | 1 |
Note: We have considered here, only first round of investments
Madworks' recent investments
Madworks has not made any investment in 2026 so far.Here are the most recent investments by Madworks:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Oct 2019 | United States | Grant (prize money) | 5754 | - | |
Oct 2019 | - | Grant (prize money) | 2188 | - | |
Oct 2019 | United States | Grant (prize money) | 6112 | - | |
Oct 2019 | United States | Grant (prize money) | 4228 | - | |
Oct 2019 | United States | Grant (prize money) | 2785 | - |
Acquired companies in Madworks' Portfolio
3 companies from Madworks' portfolio have been acquired. The most recent acquisition was Kilter Rewards in Aug 2022 by Blackbaud for $*****.Here are Madworks' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Aug 22, 2022 | 2017 | Grant (prize money) | 4829 | |
Sep 02, 2021 | 2016 | Grant (prize money) | 9568 | |
Apr 15, 2020 | - | - | 6193 |
Team profile of Madworks
Madworks has a team of 2 members including 2 Partners located in United States. Madworks' team does not sit on the board of any company as of now.Co-investors of Madworks
Over the past 12 years, 30 investors have co-invested in Madworks's portfolio companies. This includes only funds.
- Invested before Madworks: Seed Sumo, 500 Global and 1 other have invested in rounds before Madworks. There is 1 company where Seed Sumo has invested before Madworks and 1 company where 500 Global has invested before Madworks.
- Top Co-investors of Madworks: Gener8tor entered a company along with Madworks.
- Invested after Madworks: A total of 26 investors have invested in Madworks's portfolio after their investments. Top Investors include Wisconsin Investment Partners (2 companies) and Golden Angels Investors (2 companies).
