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Meet Utah’s next unicorn

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 of startups in the “Silicon Slopes” to garner “unicorn” status. The business announced a $70 million Series D last…

Weave, a designer of client communications software concentrated on the oral 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 of startups in the “Silicon Slopes” to garner “unicorn” status.

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

The business was founded in 2011 and completely bootstrapped up until enrolling in the Silicon Valley accelerator program 5 years back. Since then, it has raised an overall of $156 million in private financing, tripling its appraisal with the most recent infusion of capital.

Weave

” Our goal with this financing round is to exceed our clients’ expectations at every touchpoint, investing heavily in the products we develop, the marketplaces we serve and the total client experience we supply,” Weave co-founder and primary executive officer Brandon Rodman stated in a declaration. “We will continue to buy our consumers, our products and our people to build a strong, sustainable, and scalable organisation.”

Weave charges its clients, little and medium-sized companies, upwards of $500 each month for access to its Voice over IP-based unified interactions service. Rodman formerly introduced a scheduling service for dental practitioners and understood the opportunity to incorporate texting, phone service, fax and reviews to facilitate the patient-provider relationship.

While his 2nd effort, Weave, has actually long been targeting the dentistry and optometry market, Rodman told Endeavor Beat last year the chances for the business are endless: “Ultimately, if a service requires to interact with their consumer, we see that as a possible future client of Weave.”

Based in Lehi, Weave included 250 staff members this year, with total headcount now reaching550 The company claims to have doubled its profits in 2018, too. While we do not have any genuine insight into its financials, provided the interest it has actually garnered amongst Bay Location investors, we’re guessing it’s posting some quite attractive numbers.

” Weave has a few of the finest retention numbers we’ve ever seen for an SMB SaaS company,” Catalyst partner Tyler Newton said in a declaration. “We’re continually impressed by their accelerated growth and results.”

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