2020 Best Tech Startups in Utah

March 24, 2020May 18, 2023 thetechtribune

The Tech Tribune staff has compiled the very best tech startups in Utah. In doing our research, we considered several factors including but not limited to:

Revenue potential
Leadership team
Brand/product traction
Competitive landscape

Additionally, all companies must be independent (unacquired), privately owned, at most 10 years old, and have received at least one round of funding in order to qualify.

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1. Divvy

Founded: 2016

Also honored in:

“Divvy is a secure financial platform for businesses to manage payments and subscriptions, build strategic budgets, and eliminate expense reports. By integrating real-time tracking for every business transaction, Divvy provides organizations with instant insight into their spend. With Divvy, you can make informed cash flow decisions, curb losses before they happen, and never have to save a receipt again.”

2. Recursion Pharmaceuticals

Founded: 2013

Also honored in:

“Recursion Pharmaceuticals has developed a powerful drug discovery platform involving millions of rapid, automated experiments and analysis to discover new therapeutics. Our platform has resulted in the massive parallelization of drug discovery. We have deployed this platform in pursuit of drugs for the treatment of rare genetic diseases. We partner or out-license these leads to major pharmaceutical companies early in development. Our horizontal business model focused on discovery accelerates our impact and reduces our costs by avoiding slow and costly in-house development, and allows us to spread risk across many new therapeutic opportunities.”

3. iFit

Founded: 2013

“iFit is owned by Icon Health and Fitness – The worlds largest home fitness equipment manufacturer.

The world leader in fitness technology, iFit® is pioneering the way people interact with exercise equipment and technology. Our platform is built into millions of treadmills, bikes, and ellipticals across the globe including top brands such as ProForm®, NordicTrack®, and FreeMotion® to name a few. So basically, if you like fitness, building stellar designs, and working with a team of talented peeps, then this is the place for you.”

4. MX Technologies

Founded: 2010

Also honored in:

“DATA FOR BETTER BANKING

MX enables financial institutions and fintech companies to gather, enrich, present, and act on data — resulting in dramatic gains to the bottom line.”

5. Lucid Software Inc

Founded: 2009

Also honored in:

“Lucid is the parent company of two cloud-based visual productivity solutions: Lucidchart and Lucidpress. Lucidchart is an essential visual productivity platform that helps anyone understand and share ideas, information, and processes with clarity. Lucidpress is an intuitive design and brand management platform for creating on-brand content faster. Together, they are utilized in over 180 countries by more than 15 million users, including Amazon, Delta, Visa, Toyota, Procter & Gamble, and 96 percent of the Fortune 500. Lucid’s partners include industry leaders such as Google, Atlassian, Amazon Web Services, Salesforce, and Microsoft. Since the Utah-based company’s founding in 2009, it has received numerous awards for its business and workplace culture.”

6. Lendio

Founded: 2011

Also honored in: 2019 Best Tech Startups in Utah

“Lendio is an online service that helps businesses find the right small business loan within minutes. Lendio makes small business loans simple by matching qualified small business owners with active banks, credit unions, and other lending sources.

We fuel the American dream, that’s our passion.”

7. Nav

Founded: 2012

Also honored in: 2019 Best Tech Startups in San Mateo

“Nav is a venture-backed fintech company that helps business owners manage their financial data to get more funding, lower their costs and save time. It provides free access to credit reports and scores specifically for small business owners, including both business and personal credit reports, cash-flow analysis, tools to help build business credit and a marketplace with more than 100 financing products, including credit cards. Its marketplace uses a lender-neutral algorithm to help business owners find the best financing options for their needs before they apply.”

8. Podium

Founded: 2014

Also honored in:

“Podium is redefining the way customers interact with local businesses. Podium’s Interaction Management platform uses messaging to make it convenient to interact with your leads, customers, and teams along every customer touchpoint.

With Podium, you can message your leads and customers, get reviews and feedback, and communicate easily with your team, all in one easy-to-use inbox. It powers the conversations that matter most to your business, putting you miles ahead of the competition.”

9. Canopy

Founded: 2014

Also honored in:

“Canopy creates tax and accounting software that simplifies your practice so you can help more clients. Canopy’s Practice Management lets you connect every element of your practice with features ranging from CRM to project management. Our Tax Resolution lets you shave hours off every case with smart automation and instant calculations. With our Transcripts tool you can pull IRS transcripts in as little as 2 minutes.”

10. Artemis Health

Founded: 2013

Also honored in:

“At Artemis Health, we are striving to help fix healthcare in America. We’re making it easy for self-insured employers to use their own benefits data to reduce spending and improve benefits for their employees.

Because we believe that everyone should have good healthcare they can afford.”