SaltStack Acquired by VMware | Podium & Weave on Cloud 100 | Brock Blake & Trent Miskin Named EY EoY | Mighty Closes $4.3M Seed Round | Jolt Earns Tech Cares Award | Podium Education Raises $12M, Launches Learn & Work | Portfolio Highlights from Utah Business | Three Portfolio Companies Make Fintech 250 | Five Portfolio Companies on MWCN Top 100

Fund I


SaltStack Acquired by VMware

SaltStack, which provides event-driven IT automation, remote task execution, and configuration management software, recently announced it’s being acquired by cloud computing and virtualization software provider, VMware. Congrats to Marc ChennThomas Hatch & the entire SaltStack team!

Podium & Weave on Cloud 100

Forbes recently released its 2020 Cloud 100 List of the best private cloud companies in the world and Podium (50) and Weave (79) made the cut. The list ranks companies for their industry-leading sales, growth, high valuations and strong culture, while factoring in the input of 43 public cloud-company CEOs and executives.

Brock Blake & Trent Miskin Named EY EoY

Lendio CEO & Co-Founder, Brock Blake, and CGO & Co-Founder, Trent Miskin, received the EY Entrepreneur of the Year 2020 Utah Region Award. EY’s recognition of Lendio, particularly on the heels of the Paycheck Protection Program earlier this year, is validation of the hard work the entire Lendio team has put in to help small business owners navigate the complicated lending process. The loans it helped process have enabled small business owners to hire staff, buy equipment or simply keep their doors open during hard times. Hats off to Brock, Trent and the rest of the Lendio team!

Fund II


Mighty Closes $4.3M Seed Round

Mighty, the work technology platform built to lead remote and cross-functional teams, recently announced it closed a $4.3M seed round from Acadian VenturesAlbumGSV VenturesOrigin VenturesSlack Fund, and Village Global. The company will use the funding to continue building out its solution with even more firepower in the form of features and integrations, as well as toward its go-to-market efforts focused on professional services and technology customers. Mighty was also recently mentioned in a Crunchbase “Startups to Watch” article. Shout out to Brent AlvordBobbi Alexandrova & the rest of the Mighty team!

Jolt Earns Tech Cares Award

Operations execution software company, Jolt, was recognized by TrustRadius with a 2020 Tech Cares Award. This award celebrates companies that have gone above and beyond to provide their communities, clients, and front line workers with support during the COVID-19 crisis. Jolt has been offering a free digital sanitization package designed to help restaurants and businesses ensure extra cleaning tasks are being completed on time and properly. With additional features like training, employees know how to complete each task and report back so managers know tasks are being completed properly. We’re proud of how Josh BirdCJ LewisTyler Slater and the whole Jolt team have helped one of the industries most affected by the pandemic!

Fund III


Podium Education Raises $12M, Launches Learn & Work

Podium Education, an online learning platform teaching in-demand tech skills to undergraduates, recently announced its $12M Series A from AlbumFirework VenturesGoldcrest CapitalLearn Capital, Spring Tide Capital, CampusLogic CEO Gregg Scoresby, and Degreed Co-Founder David Blake. The company will use the funds to offer more classes at more colleges. Since launching at the start of 2020, the Austin, Texas-based startup has partnered with over 20 colleges and more than 1,000 students. Podium Education has also partnered with Utah's System of Higher Education and Snow College to reskill displaced Utahns all across the state with in-demand tech skills -- all tuition free -- via its Learn & Work in Utah initiative. We’re thrilled for Brooks MorganAlex RickenChristopher Parrish, and the entire Podium Education team!

Other News


Highlights from Utah Business

Utah Business recently highlighted how some of our portfolio companies, and other startups in the state, have risen to the occasion during the pandemic, many closing investment rounds from impressive partners. You can read the article here. It also released its 2020 Fast 50 list, honoring the fastest growing companies in the state which included Podium (5), Weave (17), MX (21), Filevine (26), Lendio (28), Nav (32), and ObservePoint (41).

Three Portfolio Companies Make Fintech 250

CB Insights unveiled its third annual Fintech 250 -- a list of 250 of the top private fintech companies using technology to transform financial services -- and DivvyLendio & MX made the list.

Five Portfolio Companies on MWCN Top 100

MountainWest Capital Network listed PodiumWeaveSaltStackLendio, and ObservePoint on its 2020 list of the 100 fastest growing companies in UtahDivvy also made it on the Emerging Elite list.

-The Album Team