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Daniel Li Co-Founds Plus After Moving from Madrona’s Partner Role; Startup Raises $5.5M

Plus co-founders Daniel Li and Chloe Qi raised $5.5 million in seed funding for a tool designed to help customers view and share live data across software tools.
From TheFinanceBase Team2 min to read
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Daniel Li co-founded Seattle startup Plus with Chloe Qi in 2021, after moving from his partner role at venture-capital firm Madrona. Plus announced a $5.5 million seed round led by Madrona to build a product for viewing and sharing live data from other tools. Li’s move was a change in operating role, not a complete break with the firm: Madrona later described him as a venture partner.

What Plus was building at launch

In its March 29, 2021 launch report, GeekWire described Plus’s initial goal in Li’s words: “The goal for the initial product is building an easy way for customers to see and share live data from any other tool,” GeekWire reported.

That launch-era description points to connecting information in other software tools and making it easier to view and share. It does not describe Plus as an AI presentation maker. Madrona’s current profile uses a later framing, saying Plus automates reporting workflows with AI; the available accounts do not establish when or how the product’s positioning changed.

Who founded Plus and how Li’s Madrona role changed

Li and Chloe Qi co-founded Plus. GeekWire described Qi as a former colleague of Li’s at Boston Consulting Group who had also worked at Webflow. Li had joined Madrona in 2015 and was promoted to partner in January 2021, according to the launch report. He then left that partner role to co-found Plus, while remaining connected to the firm.

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Madrona’s Daniel Li profile says he became a venture partner in 2021 when he co-founded Plus. That distinction matters: the headline’s “leaves Madrona” refers to stepping away from his operating partner position, not necessarily ending his relationship with the investment firm.

What the $5.5 million seed round means

GeekWire reported that Plus raised $5.5 million in a seed round led by Madrona. The story named Positive Sum and founders and CEOs from Smartsheet, Evernote, Auth0, Qumulo and Rec Room among the other backers. The report did not state a company valuation, so the round size should not be read as evidence of Plus’s valuation or ownership terms.

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Li characterized the product as aligning with themes he had invested in at Madrona: “sits squarely at the center of two of my core investment themes at Madrona: no code/low code and ‘multiplayer’ productivity.” The connection was that users could assemble or share useful information without relying solely on custom-coded workflows, while collaborating around that information.

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How Madrona later described Plus in use

Madrona subsequently gave examples of Plus Docs in practice: tracking portfolio-company performance and creating dashboards for ski conditions at Whistler. Its low-code and no-code article describes these as examples of dashboards and workflow use, offering a glimpse of how the firm applied the product beyond the launch announcement.

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A 2022 COSM speaker profile also identified Li as Plus’s co-founder and CEO and described the company as making integrations easy. These dated descriptions add context, but they do not establish Plus’s current product availability, later financing, or a complete timeline of product changes.

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