Meet Utah’s next unicorn

in Local Roundup

Weave, a developer of patient communications software focused on the dental and optometry market, was the first Utah-headquartered company to graduate from Y Combinator in 2014. Now, it’s poised to enter a small but growing class startups in the ‘Silicon Slopes’ to garner ‘unicorn’ status.

The business announced a $70 million Series D last week at a valuation of $970 million. Tiger Global Management  led the round, with participation from existing backers Catalyst Investors,  Bessemer Venture Partners, Crosslink Capital,  Pelion Venture Partners and LeadEdge Capital.

The company was founded in 2011 and fully bootstrapped until enrolling in the Silicon Valley accelerator program five years ago. Since then, it’s raised a total of $156 million in private funding, tripling its valuation with the latest infusion of capital.

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