Pelion Venture Partners

Invests in early-stage B2B software-based companies, focusing on technology-enabled business solutions with scalable growth potential.

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Updated: Jan 22, 2026 ·

About

Pelion Venture Partners helps entrepreneurs and invests in early-stage B2B software-based companies.

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Feb 11, 2026	Brandlight	$30.0M Series A	Pelion Venture Partners	Cardumen Capital, G20 Ventures
Oct 1, 2025	Weave	$20.0M Series A	—	A Capital, Album VC, Craft Ventures, Crosslink Capital, Gradient Ventures, Hack VC, Innovation Endeavors, Liquid 2 Ventures, Magnetic Ventures, Pareto Holdings, TSVC Capital, UpHonest Capital, Matt Garratt, U.S. Venture Partners, Y Combinator, Dmitry Dakhnovsky, Ronny Conway
Sep 1, 2025	Tern Group	$24.0M Series A	—	468 Capital, Circle Ventures, DST Global, Iterative, Lightbank, Mercury Fund, Notion Capital, Outrun Ventures, Presight Capital, RTP Global, Mato Peric
Sep 1, 2025	Phases	$500K Seed	—	Antler, Brand Foundry Ventures, Conviction Partners, Jenny Fielding, Scott Hartley, IrishAngels, Motivate Ventures, Rev1 Ventures, Scale Asia Ventures, Uncork Capital, Y Combinator, Chris Smoak, Tom Blomfield
Sep 1, 2025	Luminal	$500K Seed	—	A Capital, Album VC, Craft Ventures, Crosslink Capital, Gradient Ventures, Hack VC, Innovation Endeavors, Liquid 2 Ventures, Magnetic Ventures, Pareto Holdings, TSVC Capital, UpHonest Capital, Matt Garratt, Y Combinator, Dmitry Dakhnovsky, Ronny Conway
Aug 1, 2025	Profound	$35.0M Series B	—	8VC, BoxGroup, Contrary Capital, DCM, Founders Fund, G2VP, General Catalyst, Giant Ventures, Insight Partners, IVP, Khosla Ventures, Kleiner Perkins, Lux Capital, Next47, Outlander Labs, Pareto Holdings, Quiet Capital, Renegade Partners, Saga, Scale Venture Partners, Sequoia Capital, SNR, Susquehanna Capital, Thrive Capital, TPG, Abe Burns, Balaji Srinivasan, Bradley Horowitz, Chafic Kazoun, Karim Atiyeh, Sam Altman, Sam Nazarian, Scott Belsky, Teddy Citrin, Tom Steyer, Vivek Patel
Jun 1, 2025	Coco	$80.0M Series B	—	8090 Industries, Andreessen Horowitz, Atomic, Felicis Ventures, Kapor Capital, Outlander Labs, Saga, SNR, Peter Chernin, TPG, XYZ Venture Capital, Aaron Levie, Abe Burns, Howard Schultz, Leonardo DiCaprio, Nick Caldwell, Sam Altman, Sam Nazarian, Tom Steyer
May 1, 2025	Seedflex Technologies	$3.0M Seed	—	468 Capital, 500 Startups, Iterative, Lightbank, Presight Capital
Apr 1, 2025	Outtake	$17.0M Series A	—	10100, 2xN, Kevin Hartz, ACME Capital, Atomic, Benchmark, Cota Capital, Craft Ventures, Matt Ocko, Zachary Bogue, ENIAC Ventures, Expa, First Round Capital, Founder Collective, General Atlantic, Graph Ventures, David Krane, M.G. Siegler, High Alpha, Innovation Endeavors, Shawn Modarresi, K2 Global, Kapor Capital, Kleiner Perkins, LAUNCH, Lead Edge Capital, Long Journey Ventures, Lowercarbon Capital, Menlo Ventures, NextGen Venture Partners, Sequoia Capital, Structure Capital, Summit Partners, Techstars, The Hit Forge, Vayner RSE, Babak Nivi, Jay Z, Jeff Bezos, Jeremy Stoppelman, JOHN FANNING, John Kobs, Josh Spear, Khaled Helioui, Megan Quinn, MG Siegler, Scott Banister, Scott Belsky, Shervin Pishevar, Troy Carter
Apr 1, 2025	Canopy	$70.0M Series C	—	Ankona Capital, Benchmark, Deep Fork Capital, GSR Ventures, High Alpha, Hustle Fund, Kindred Ventures, Matrix, Nyca Partners, Pareto Holdings, Louis Beryl
Apr 1, 2025	ecco	$7.0M Seed	—	Felicis Ventures, Kleiner Perkins, Monarch Collective, Upfront Ventures, Oliver Friedrichs
Apr 1, 2025	Cy4Data Labs	$10.0M Series A	—	AXA Strategic Ventures
Mar 1, 2025	Needle	$2.0M Seed	—	468 Capital, Iterative, Lightbank, Presight Capital, Dimiter Tschawow, Mato Peric
Feb 1, 2025	Subscript	$15.0M Series A	—	Crosslink Capital, Engineering Capital, Felicis Ventures, Zetta Venture Partners
Jan 1, 2025	Orbex Space	$29.0M Series D	—	Business Growth Fund, Heartcore Capital, High-Tech Gründerfonds, Octopus Ventures, Zain Rizavi, Anshu Sharma, Douglas Merritt, Eileen Murray, Marc Benioff, Phillip Chambers, Sohaib Abbasi
Nov 1, 2024	PlayAI	$21.0M Seed	—	Ankona Capital, Benchmark, CapitalX, Deep Fork Capital, GSR Ventures, High Alpha, Hustle Fund, Kindred Ventures, Matrix, Nyca Partners, Pareto Holdings, Race Capital, Amjad Masad, Dharmesh Shah, Louis Beryl
Oct 1, 2024	Troveo AI	$5.0M Seed	—	Afore Capital, Andreessen Horowitz, Ankona Capital, Dimension Capital, GRID EXPONENTIAL, Initialized Capital, Menlo Ventures, Origin Ventures, Prototype Capital, Renegade Partners, Seven Seven Six, Solana Ventures, SOSV, Vitalize Venture Group, Winklevoss Capital, Eric Wu
Sep 1, 2024	Darkhive	$21.0M Series A	—	AllegisCyber Capital, Crosslink Capital, Dell Technologies Capital, DFJ, Drive Capital, Intel Capital, March Capital, Monarch Collective, PruVen Capital, Snowflake Ventures, Ten Eleven Ventures, Chris Cooper, Will Szczerbiak
Sep 1, 2024	Strider Technologies	$55.0M Series C	—	Accel, Acrew Capital, AXA Strategic Ventures, Broom Ventures, Plug & Play Ventures, Andy Cohen, Ashish Toshniwal, Bradley Horowitz, Varsha Rao
Aug 1, 2024	Mealplanet	$6.0M Seed	—	BoxGroup, EQT Ventures, Moonshots Capital, The General Partnership, Vision/Capital/People (VCP), Clark Landry
Aug 1, 2024	Profound	$4.0M Seed	—	8VC, Vijaya Gadde, BoxGroup, Contrary Capital, Founders Fund, General Catalyst, Giant Ventures, Khosla Ventures, Kleiner Perkins, Lightspeed Venture Partners, Logos Labs, Lux Capital, Outlander Labs, Pareto Holdings, Polygon, Saga, Sequoia Capital, SNR, Susquehanna Capital, Symbolic Capital, Thrive Capital, TPG, Abe Burns, Balaji Srinivasan, Bradley Horowitz, Chafic Kazoun, Evan Williams, Karim Atiyeh, Max Mullen, Nicolas Pinto, Sam Altman, Sam Nazarian, Scott Belsky, Teddy Citrin, Tom Steyer
Aug 1, 2024	Redo	$24.0M Series A	—	Peterson Ventures, Signal Peak Ventures, Jack Boren
Jun 1, 2024	Vertus Energy	$9.0M Seed	—	Adams Street Partners, Album VC, Battery Ventures, CapitalG, DG Incubation, Energy Capital Ventures, Quiet Capital, TTV Capital, Peter Kight, Todd Pedersen
May 1, 2024	Weave	$10.0M Seed	—	A Capital, Album VC, BoxOne Ventures, Craft Ventures, Crosslink Capital, Gradient Ventures, Hack VC, Industry Ventures, Innovation Endeavors, KdT Ventures, Lifeforce Capital, Liquid 2 Ventures, Magnetic Ventures, Pareto Holdings, Sanofi Ventures, TSVC Capital, UpHonest Capital, Matt Garratt, Y Combinator, Dmitry Dakhnovsky, Ronny Conway, Shane Neman
May 1, 2024	cside	$2.0M Seed	—	20VC, Accel, Benhamou Global Ventures, DNX Ventures, Exponent Founders Capital, Fusion Fund, iNovia Capital, Lego Ventures, Mantis VC, Mohr Davidow Ventures, Not Boring Capital, Otherwise Fund, Partech Ventures, Redpoint Ventures, Zain Rizavi, Ridge Ventures, Scheinman Angel Fund, Scribble Ventures, TQ Ventures, Uncork Capital, Annelies Gamble, Ariel Maislos, Chris Cooper, Jeremy Cai, Karim Atiyeh, Kevin Weil, Lior Shiff, Mario Gabriele, Mario Götze, Riccardo Zacconi, Ron Pragides, Scott Belsky, Sohail Prasad, Yair Weinberger

Financial History

Total Raised

N/A

Valuation

N/A

Leadership Team

Key people at Pelion Venture Partners.

Leadership Team

Key people at Pelion Venture Partners.

Deep Dive

Pelion Venture Partners is an early-stage venture capital firm specializing in investments in B2B software-based companies that offer technology-enabled business solutions with scalable growth potential. Their mission centers on partnering with technology founders to build disruptive businesses that transform industries, providing not only capital but also expertise, time, and networks to support entrepreneurial success. Pelion primarily invests in sectors such as B2B SaaS, fintech, marketplaces, cloud computing, and security, focusing on startups across the United States with strong growth trajectories[1][2].

Founded in 1986 and based in Utah, Pelion has evolved from its original identity as Utah Ventures to become the oldest and largest early-stage venture firm in the state. Key partners include Managing Partner Blake Modersitzki, who joined in 2002 from Novell’s corporate venture capital division, helping shape Pelion’s current strategy and team. Over the years, Pelion has invested in nearly 100 companies and deployed close to $800 million in capital, with notable exits such as Cloudflare and Divvy. The firm recently raised $500 million for its eighth early-stage fund, demonstrating ongoing growth and commitment to backing innovative startups[1][2][4].

Core Differentiators

Unique Investment Model: Pelion emphasizes deep partnership with founders, combining financial investment with operational support, mentorship, and network access.
Network Strength: Leveraging a strong presence in Utah and expanding nationally, Pelion connects startups with experienced operators and industry experts.
Track Record: Nearly four decades of investing with successful exits including Cloudflare, Divvy, and Integral Ad Science.
Operating Support: The firm adds value beyond capital by providing hands-on guidance, exemplified by adding experienced professionals like Tyler Hogge, former SVP of Product at Divvy, as a Venture Partner[1][2].

Role in the Broader Tech Landscape

Pelion rides the wave of increasing demand for scalable, technology-driven business solutions in the B2B software space. The timing is favorable due to accelerating digital transformation across industries, growing adoption of cloud computing, and the rise of fintech and marketplace platforms. Pelion’s focus on early-stage companies positions it to influence the ecosystem by nurturing disruptive innovations that can reshape traditional business models and drive economic growth, especially within the burgeoning Utah tech scene[1][2].

Quick Take & Future Outlook

Looking ahead, Pelion is poised to continue expanding its influence by deploying its latest $500 million fund to back promising startups that align with emerging technology trends such as AI, cloud infrastructure, and fintech innovation. The firm’s commitment to founder-centric support and its strong regional roots in Utah provide a solid foundation for sustained impact. As digital transformation accelerates globally, Pelion’s role as a catalyst for early-stage B2B software innovation is likely to grow, further shaping the venture capital landscape and the broader tech ecosystem[1][2].

Sources

Core Differentiators

Unique Investment Model: Pelion emphasizes deep partnership with founders, combining financial investment with operational support, mentorship, and network access.
Network Strength: Leveraging a strong presence in Utah and expanding nationally, Pelion connects startups with experienced operators and industry experts.
Track Record: Nearly four decades of investing with successful exits including Cloudflare, Divvy, and Integral Ad Science.
Operating Support: The firm adds value beyond capital by providing hands-on guidance, exemplified by adding experienced professionals like Tyler Hogge, former SVP of Product at Divvy, as a Venture Partner[1][2].