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The Venture Codex

Pelion Venture Partners

2750 E Cottonwood Parkway, Suite 600, Salt Lake City, UT, 84121, United States

Overview

Pelion Venture Partners helps entrepreneurs and invests in early-stage B2B software-based companies. Since 1986, Pelion Venture Partners has been helping entrepreneurs turn early-stage concepts into tomorrow's industry-leading companies. Pelion invests in early-stage B2B software across the US. With 7 investment team members, Pelion has deep and diverse industry and investment experience. They are hands-on in their approach and work collaboratively with each portfolio company.

Total investments
144
Lead investments
50
Investments · 12mo
15
Active investors
9

Sector focus

  • Finance
  • Financial Services
  • Information Technology
  • Software
  • Venture Capital
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Investment portfolio

  • Apollo Atomics

    Participated · Seed · Aug 2026

    Apollo Atomics focuses on shrinking and mass-manufacturing the steam generator—the largest component in many nuclear plants—by using a compact metal block with needle-thin channels to transfer heat more efficiently. Its design, based on MIT research, enabled the company to build a reactor it says is roughly 40-times smaller than ones using conventional steam generators and to assemble systems in a factory rather than on site. Apollo has built a 40-kilowatt demonstration reactor at MIT and plans to offer reactor sizes from about 10 megawatts-electric up to 300 megawatts. The company projects it can build a 300 MW plant in under 24 months and estimates the reactor will cost four to five times less to produce than existing designs. Apollo targets a levelized cost of electricity near 3 cents per kilowatt-hour and aims for commercial deployment in 2028. It participated in Y Combinator’s Spring 2026 batch.

  • CodeRabbit

    Participated · Series C · Aug 2026

    CodeRabbit offers an automated platform that uses AI agents to review freshly generated code in real time, catching syntax errors, logic bugs and security vulnerabilities as code is created. The company has expanded its offering with Agentic Change Management, which includes CodeRabbit Triage for scoring and routing pull requests, Change Stack for visualizing a change's impact on system behavior and dependencies, and CodeRabbit Security for full-repository scanning and continuous monitoring after code ships. Its tools validate incoming pull requests using repository-wide context and sandboxed test environments, and can generate recommended fixes that re-enter the pull request workflow. CodeRabbit has positioned the product to help teams prioritize and govern a rising volume of code changes originating from developers, nontechnical staff and automated agents. The company announced a $143 million Series C to accelerate these product capabilities and scale adoption. Prior investors such as CRV, Scale Venture Partners, Flex Capital and Pelion Venture Partners participated in the latest round.

  • Vendelux

    Participated · Series B · Jul 2026

    Vendelux builds an event intelligence layer that maps and tracks more than 250,000 global B2B events to help sales and marketing teams evaluate historical attendee density, identify active buyer cohorts, and automate qualified in-person meeting bookings. The platform serves prominent enterprise customers including Ramp, Glean, Coupa, McKesson, Writer, Deel, Intel, and the United States Postal Service. The company is led by co-founders Alex Reynolds and Stefan Fletcher and is headquartered in New York City. As of the July 2026 Series B, Vendelux has raised $71M in total funding. Planned uses of the new capital include deepening its AI infrastructure, accelerating product development, and expanding its global corporate sales engineering teams. The company emphasized bridging marketers with event organizers as a product focus going forward.

  • Redo

    Participated · Series B · Jun 2026

    Redo provides returns and other shopper-facing solutions for e-commerce brands and has expanded rapidly over the last 24 months, growing from about 100 brands to more than 4,000. The company reports that more than 70% of its brand customers now use multiple Redo solutions rather than only its returns product. Monthly metrics have consistently set new records according to the company's announcement. Redo framed its recent $81M raise at a $1.25B valuation as a validation of brand trust and ongoing demand for its services. In lieu of a big fundraising launch, the company said it will channel announcement funds back to brands and shoppers, including a program to give $100 to one person per Redo brand. The company stressed that substantial work remains and that it will continue investing in its product and customer relationships.

  • UpGuard

    Participated · Series C · Feb 2026

    Founded in 2012, UpGuard delivers an AI-driven Cyber Risk Posture Management (CRPM) platform that unifies vendor risk, breach risk, user risk, data-sharing trust, and GRC automations into a single view. The system processes more than 100 billion risk signals every day and, in the last 100 days alone, analyzed 23 billion tokens to generate 70 k AI risk assessments and auto-complete 700 k security questionnaires. UpGuard’s technology has triaged 90 % of 483 k breach signals, helping lean security teams focus on high-intent threats. The company has earned G2 recognition as the top Third-Party and Supplier Risk Management solution for 15 consecutive quarters. Its customer base includes 50 k organizations in over 90 countries, with 2 000 paying customers supported by a distributed workforce in 14 nations. Headquartered in Hobart, Tasmania, with a U.S. base in Mountain View, California, UpGuard plans to use new capital to extend its AI capabilities, expand global go-to-market efforts, and pursue strategic M&A. Financial details from prior rounds were not disclosed, but the firm highlights a track record of capital efficiency alongside rapid scale.

Team