About Intermountain Ventures
Intermountain Ventures is a venture capital firm founded in 2019. It is primarily based out of Salt Lake City, United States. As of Mar 2026, Intermountain Ventures is an active investor, having invested in 27 companies, with 1 new investment in the last 12 months. It primarily invests in Series B round in United States based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to HealthTech and Life Sciences. Most recently it participated in the $***** Series B round of Qualified Health Overall, Intermountain Ventures portfolio has seen 2 unicorns, 3 IPOs and 10 acquisitions including key companies like Omada, Armis and Recursion Pharmaceuticals. A lot of funds co-invest with Intermountain Ventures, with names like Catalio Capital Management sharing a substantial percentage of its portfolio. Intermountain Ventures has team of 8 people including 1 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Series B & 4 more
Portfolio IPOs
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
Intermountain Ventures' List of Top Investments
Intermountain Ventures has a portfolio of 27 companies, including 2 unicorns. Their most notable investments are in Vori Health and Jvion.Their portfolio spans across and United States. They have invested in Enterprise Applications, HealthTech, Life Sciences and 5 other sectors, across stages such as Series A, Series B and 4 more. Here is the list of top investments by Intermountain Ventures:
1. Omada
Provider of virtual care programs to manage chronic diseases. The company provides access to personal health coaches and specialists for virtual programs to deliver personalized interventions for prediabetes, diabetes, hypertension, and musculoskeletal issues.
Key facts about Omada
- Founded Year: 2011
- Location: San Francisco (United States)
- Annual Revenue: $100M - $500M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $450M
- Employee Count: 983 as on Jun 30, 2026
- Investors: New Enterprise Associates, Carriage House Rock and 45 Others
- Latest Funding Round: Series E, Feb 23, 2022, $*****
- Highlight: Public
2. Armis
Provider of a wireless security platform for IoT applications. Offers an early stage wireless security platform focused on IoT security in an organization. The solution delivers continuous visibility and control over wireless communications, devices, and data.
Key facts about Armis
- Founded Year: 2015
- Location: San Francisco (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $1.17B
- Employee Count: 989 as on Jun 30, 2026
- Investors: Georgian, Tenaya Capital and 20 Others
- Latest Funding Round: Series E, Nov 05, 2025, $*****
- Highlight: Acquired
AI-enabled drug discovery and development platform for novel therapeutics. It focuses on identifying new targets and designing optimized molecules. The platform utilizes biological and chemical datasets, machine learning models, and a supercomputer to accelerate the discovery of medicines. It aims to improve the speed and efficiency of drug development for conditions with high unmet needs, including cancers and rare diseases. The company also forms strategic partnerships to expand its impact on patients.
Key facts about Recursion Pharmaceuticals
- Founded Year: 2013
- Location: New York (United States)
- Annual Revenue: $50M - $100M as on Dec 31, 2025
- Stage: Public
- Total Funding till date: $452M
- Employee Count: 755 as on Mar 31, 2026
- Investors: HTIF, AME Cloud Ventures and 47 Others
- Latest Funding Round: Post IPO, Jul 12, 2023, $*****
- Highlight: Public
Digital health platform offering solutions for individuals with digestive health issues. It provides care for various digestive health issues, offering individualized care plans designed to address specific symptoms and needs. It offers customized care plans for digestive health needs, virtual access to a dedicated team of doctors, Registered Dietitians, Health Coaches, and more.
Key facts about Cylinder Health
- Founded Year: 2016
- Location: Chicago (United States)
- Stage: Series B
- Total Funding till date: $77.9M
- Employee Count: 152 as on Jun 30, 2026
- Investors: 7wire Ventures, Distributed Ventures and 19 Others
- Latest Funding Round: Series B, Sep 20, 2023, $*****
- Highlight: Editors' Pick
Provider of a deep learning platform for detecting circulating cancer-related markers. It offers a platform for detecting circulating cancer-related markers in patient blood samples. Its proprietary technology uses deep learning to detect cell-free DNA, immune cell fragments, and metabolic markers in the blood. It allows physicians to classify tumor types and develop treatment therapies for prostate, breast, colorectal, and lung cancer.
Key facts about Freenome Health
- Founded Year: 2014
- Location: United States
- Valuation: $*****
- Stage: Series E
- Total Funding till date: $1.35B
- Employee Count: 404 as on Jun 30, 2026
- Investors: Bain Capital Life Sciences, T. Rowe Price and 65 Others
- Latest Funding Round: Series E, Feb 15, 2024, $*****
- Highlight: Editors' Pick
Intermountain Ventures' Year-on-Year Investment Trends
Intermountain Ventures has invested in 27 companies over the last 7 years, with an average of 2 new investments annually in the last 5 years. In 2025, it made 4 investments, while as of Mar 2026, it has made 2 investments in this year. Its most recent first time investment was in Vista and most recent follow-on round was in Qualified Health.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 1 | 2 |
2025 | 2 | 2 | 4 |
2024 | 2 | 1 | 3 |
2023 | 3 | 1 | 4 |
2022 | 0 | 0 | 0 |
2021 | 3 | 0 | 3 |
2020 | 3 | 0 | 3 |
2019 | 5 | 0 | 5 |
Intermountain Ventures' Investments by Stage
Intermountain Ventures has made 6 investments in Series A stage with an average round size of $16.3M, 5 investments in Series B stage with an average round size of $26.9M and 3 investments in Series C stage with an average round size of $50.6M.Stage of entry | No. of Investments |
|---|---|
Series A | 6 |
Series B | 5 |
Series C | 3 |
Series D | 2 |
Series E | 2 |
Others | 1 |
Note: We have considered here, only first round of investments
Intermountain Ventures' Investments by Sector
Intermountain Ventures has a diverse portfolio, with companies operating in the HealthTech, Enterprise Applications, Life Sciences, Artificial Intelligence - Industry Applications and High Tech. Notably, it has invested in 25 Tech companies, 20 Enterprise (B2B) companies, 19 Software companies and at least 6 companies focusing on AI-Native.Sector | No. of Investments |
|---|---|
HealthTech | 15 |
Enterprise Applications | 11 |
Life Sciences | 7 |
Artificial Intelligence - Industry Applications | 6 |
High Tech | 6 |
Others | 8 |
Note: We have considered here, only first round of investments
Intermountain Ventures' Investments by Geography
Intermountain Ventures has made most investments in United States (19).Intermountain Ventures' recent investments
Intermountain Ventures has made 2 investments in 2026 so far - Qualified Health and Vista.Here are the most recent investments by Intermountain Ventures:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Mar 25, 2026 | United States | Series B | 6499 | ||
Jan 14, 2026 | United States | Series B | 2396 | [+6] | |
Jun 03, 2025 | United States | Series A | 1219 | ||
Mar 11, 2025 | United States | Series B | 6037 | ||
Mar 07, 2025 | United States | Series C | 8745 | [+8] |
Unicorns in Intermountain Ventures' Portfolio
Intermountain Ventures has 2 unicorns in its portfolio - Freenome Health and Olive. The most recent unicorn in their portfolio is Freenome Health. It became a unicorn in 2022, 2 years before Intermountain Ventures first invested in it.Here is a list of unicorns in Intermountain Ventures' portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
66 | Provider of a deep learning platform for detecting circulating cancer-related markers | 2014 | - | Series E | grlrnrd | ||
58 | Provider of AI-based platform for administrative solutions | 2012 | Columbus | Series H | tpqi{vg |
IPOs and Publicly Listed companies in Intermountain Ventures' Portfolio
3 of Intermountain Ventures' portfolio companies have become public. Omada got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Jun 2025 at marketcap of $1.06B and Recursion Pharmaceuticals got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $2.92B.Here are Intermountain Ventures' portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 06, 2025 | Oct 10, 2019 | Series D | 4970 | |
Apr 16, 2021 | Sep 09, 2020 | Series D | 8067 | |
Nov 29, 2018 | - | - | 3428 |
Acquired companies in Intermountain Ventures' Portfolio
10 companies from Intermountain Ventures' portfolio have been acquired. The most recent acquisition was Armis in Dec 2025 by ServiceNow for $*****.Here are Intermountain Ventures' portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 23, 2025 | Apr 11, 2019 | Series C | 3482 | |
Jun 23, 2025 | - | - | 7999 | |
Jan 13, 2025 | May 28, 2020 | Series E | 7221 | |
Feb 01, 2024 | Jul 15, 2020 | Series A | 4565 | |
Jan 13, 2023 | - | - | 7176 |
Team profile of Intermountain Ventures
Intermountain Ventures has a team of 8 members including 1 Partner and 4 Principals located in United States. Intermountain Ventures' team does not sit on the board of any company as of now.Here is a list of all team members in Intermountain Ventures:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Salt Lake City | - | ||
Principal | Salt Lake City | - | - | |
Principal | Salt Lake City | - | - | |
Principal | Salt Lake City | - | - | |
Principal | Salt Lake City | - | - |
Co-investors of Intermountain Ventures
Over the past 7 years, 289 investors have co-invested in Intermountain Ventures's portfolio companies. This includes funds and angels.
- Invested before Intermountain Ventures: Intermountain Healthcare, HHS and 166 others have invested in rounds before Intermountain Ventures. There are 4 companies where Intermountain Healthcare has invested before Intermountain Ventures and 3 companies where HHS has invested before Intermountain Ventures.
- Top Co-investors of Intermountain Ventures: 74 investors entered a company along with Intermountain Ventures. These include investors like Catalio Capital Management (2 companies).
- Invested after Intermountain Ventures: A total of 47 investors have invested in Intermountain Ventures's portfolio after their investments. Top Investors include Fidelity Investments (1 company), aMoon (1 company) and Perceptive Advisors (1 company).
Recent News related to Intermountain Ventures
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Truffle Security Secures $25M Series B to Protect AI-Era Non-Human IdentitiesTechStartups.com•Nov 06, 2025•Truffle Security, Intel Capital, Andreessen Horowitz, CVS Health Ventures and 13 others
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Octave Bioscience Secures $35M Series C to Boost Commercial GrowthBusiness Wire•Sep 05, 2025•Octave Bioscience, Valhalla, Northpond Ventures, S32 and 8 others
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Intermountain Invests in Layer Health Data Abstraction PlatformHealthcare Innovation•Jun 17, 2025•Layer Health, Intermountain Ventures
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MATTERWORKS INC. Secures Series A Funding to Advance Machine Intelligence for Predictive Biologyintelligence360•Jun 13, 2025•Matterworks, Lewis & Clark Partners, OMX Ventures, Pillar VC and 3 others
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Vori Health secures $53m funding to support musculoskeletal carePharmaceutical Technology•Mar 12, 2025•Vori Health, New Enterprise Associates, Echo Health Ventures, Max Ventures and 2 others
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Vori Health Raises $53M in Series B FundingFinSMEs•Mar 11, 2025•Vori Health, New Enterprise Associates, AlleyCorp, Intermountain Ventures and 2 others
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Qualified Health Launches With $30m Seed Funding To Develop The Infrastructure For Generative Ai In Healthcareintelligence360•Jan 20, 2025•Qualified Health, Town Hall Ventures, Healthier Capital, SignalFire and 3 others
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Qualified Health Launches with $30M to Develop the Infrastructure for GenAI in HealthcareHIT Consultant•Jan 11, 2025•SignalFire, Healthier Capital, Town Hall Ventures, Frist Cressey Ventures and 1 other
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Qualified Health Launches with $30M Seed Funding to Develop the Infrastructure for Generative AI in HealthcarePR Newswire•Jan 08, 2025•Qualified Health, SignalFire, Healthier Capital, Town Hall Ventures and 3 others
