This story appears in the January 2026 issue of Utah Business. Subscribe.
Since our 2025 VC Recap in December, Utah’s venture ecosystem has wasted no time building on last year’s momentum. A new wave of financings across climate, fintech, enterprise software, logistics AI, healthcare, and life sciences plus a strategic acquisition, shows both depth and range in the state’s innovation economy.
Zanskar lands $115M series C to advance climate solutions
Climate tech company Zanskar secured a massive $115 million Series C led by Spring Lane Capital, with participation from a broad syndicate including Lowercarbon Capital, Obvious Ventures, Union Square Ventures, Munich Re Ventures, University Growth Fund and others.
The scale and composition of this round showcases growing institutional appetite for capital-intensive climate infrastructure plays. Zanskar’s raise stands as one of the largest recent climate-focused financings, signaling Utah’s emergence as a hub for energy transition innovation.
401GO raises $33M to reinvent retirement infrastructure
401GO, a fully in-house 401(k) platform, announced a $33 million Series B led by Centana Growth Partners, with participation from Next Frontier Capital, Rally Ventures and Impression Ventures.
The round comes less than two years after the company’s $12 million Series A, showcasing continued investor confidence in 401GO’s vertically integrated approach to retirement infrastructure. In an industry often powered by fragmented, third-party systems, 401GO’s full-stack model positions it to modernize how small and mid-sized businesses deliver retirement benefits.
Pronto secures growth investment to scale frontline communications
Pronto, a secure, mobile-first communications platform serving frontline employers and higher education institutions, announced a significant minority growth investment from SEVA Growth LP, a firm focused on founder-led, customer-centric technology companies.
The investment supports Pronto’s expansion in a category increasingly critical to distributed workforces: real-time, secure communication tools designed specifically for deskless and frontline teams.
Paramify raises $12M to expand enterprise risk platform
Paramify, a risk operations platform serving enterprise organizations, announced a $12 million Series A led by Moore Strategic Ventures, with participation from Utah-centric funds: Album VC, Next Frontier Capital and Frazier VC.
Originally focused on federal compliance, Paramify is evolving into a unified enterprise risk management system for organizations facing complex security and regulatory requirements. The raise highlights Utah’s continued strength in enterprise SaaS and GovTech-adjacent platforms.
DiversiFi.ai raises $8M to bring intelligence to logistics profitability
DiversiFi.ai announced $8 million in oversubscribed preseed and seed funding led by Utah Venture firms Sorenson Capital, Kickstart and Peterson Ventures.
The company is building AI-driven tools to help third-party logistics providers better understand and control profitability, a long-standing blind spot in the logistics industry. The round reinforces Utah’s growing footprint in applied AI.
Microvascular Therapeutics attracts first institutional backing
Life sciences startup Microvascular Therapeutics (MVT) raised a preseed round led by the Nucleus Fund.
MVT is developing next-generation ultrasound contrast and theranostic agents for cardiovascular and oncology imaging. Its lead product, MVT-100 (CardiSon), aims to improve the safety, performance and accessibility of ultrasound contrast globally.
“This is our first institutional investor,” said CEO and founder Dr. Evan Unger, M.D. The company is now planning a priced round to fund a Phase III clinical study, a milestone that signals the maturation of Utah’s life sciences pipeline beyond early research into late-stage clinical development.
Rivet acquisition highlights Utah’s healthcare tech M&A strength
In addition to venture financings, Utah’s healthcare technology sector saw a notable exit. Zelis, a leading healthcare technology provider, announced the acquisition of Rivet, a leader in revenue cycle analytics.
Rivet’s AI-enabled analytics platform gives providers deeper visibility into claim payments and denials, while helping payers reduce administrative friction. The deal underscores continued demand for solutions that improve financial operations across the healthcare ecosystem.
What this means for Utah’s tech ecosystem
Together, these deals highlight three major themes shaping Utah’s next chapter of growth.
First, the ecosystem is diversifying well beyond its SaaS roots, with meaningful capital flowing into climate infrastructure, AI-powered vertical software, fintech infrastructure and life sciences. Second, Utah companies are increasingly attracting out-of-state growth and institutional capital, signaling national confidence in the region’s ability to produce scalable, defensible businesses. Finally, the mix of early-stage institutional entry, late-stage clinical ambition, major growth rounds and strategic M&A shows a market that is maturing across the full company lifecycle.
Utah is a place where startups can scale, raise large rounds and exit, reinforcing a flywheel of talent, capital and experience that continues to strengthen the state’s innovation economy.
