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LAMBDA RAISES $320M SERIES C TO BUILD A GPU CLOUD FOR A.I.
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LAMBDA RAISES $320M SERIES C TO BUILD A GPU CLOUD FOR A.I.
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LAMBDA RAISES $320M SERIES C TO BUILD A GPU CLOUD FOR A.I.
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LAMBDA RAISES $320M SERIES C TO BUILD A GPU CLOUD FOR A.I.
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LAMBDA RAISES $320M SERIES C TO BUILD A GPU CLOUD FOR A.I.
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LAMBDA RAISES $320M SERIES C TO BUILD A GPU CLOUD FOR A.I.
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MERCATO LEADS LAMBDA LAB’S SERIES B


INVESTING IN
BETTER COMPUTE

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BUILDING BETTER

We invest in leaders that are changing how we live, learn and work—for the
better.


INVESTING IN BETTER VIEWS

Build where you live. We’ll come to you.

As investors, we believe your startup shouldn’t have to start on the coast.
We’re committed to helping you build your business in the same place you’ve
built your life.

CONTACT US

MERCATO LEADS LAMBDA LAB’S SERIES B


INVESTING IN
BETTER COMPUTE

Learn More


BUILDING BETTER

We invest in leaders that are changing how we live, learn and work—for the
better.


INVESTING IN BETTER VIEWS

Build where you live. We’ll come to you.

As investors, we believe your startup shouldn’t have to start on the coast.
We’re committed to helping you build your business in the same place you’ve
built your life.

CONTACT US

MERCATO LEADS LAMBDA LAB’S SERIES B


INVESTING IN
BETTER COMPUTE

Learn More
 * 1
 * 2
 * 3


CORE BELIEFS

We are a multi-practice investment firm that fundamentally believes in:

The power of investing in underserved and underfunded geographies
Giving more than we take
Delivering value without compromising
our values
Bettering our world through entrepreneurship


BY THE NUMBERS 1

 * GROWTH
 * VENTURE
 * FOOD/BEVERAGE

GROWTH + -

4
Funds
$1.0B
Assets under management
AUM
$400M
Active fund

VENTURE + -

2
Funds
$59M
Assets under management
$40M
Active fund

FOOD/BEVERAGE+ -

2
Funds
$329M
Assets under management
$100M
Active fund


RECENT INVESTMENTS 2

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VIVANTE HEALTH

Team:
Joe Kaiser, Mei Headley

Vivante Health is a leading provider of digital gastrointestinal care that is
reinventing the management of chronic gut conditions through data-driven
technology, proven clinical protocols, and on-demand human support.

Learn More
B
Series
$31M
Round Size

RELATED READING

Why We Invested in Vivante Health


PAYTIENT

Team:
Joe Kaiser, Mei Headley

Paytient is a healthcare finance technology company that partners with insurers
to provide predictably affordable care for members. Paytient solves the “first
dollar of care” problem, and has already onboarded five of the nation’s largest
8 payers. Today, the company covers over a million lives on its platform.

Learn More
B
Series
$40M
Round Size

RELATED READING

Why We Invested in Paytient


LAMBDA

Team:
Ryan Sanders

Lambda provides computation to accelerate human progress. An artificial
intelligence (AI) and deep learning infrastructure company, Lambda sells GPU
cloud services and related software to the world’s largest enterprises, AI
startups, and top-tier research universities.

Learn More
B
Series
$44M
Round Size

RELATED READING

Why We Invested in Lambda
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9.12.2023
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🎶 Nausea, heartburn, indigestion, upset stomach, diarrhea 🎶


This iconic, cheeky chorus line—a product of Publicis North America for
Pepto-Bismol—was introduced by Procter and Gamble in 2002, and has since become
permanently embedded into American pop culture. While most assuredly an attempt
to grab attention, the jingle was also an attempt to break down American’s
proverbial bathroom doors and normalize gastrointestinal (GI) issue relief. It
was revolutionary at the time, and helped destigmatize internal dialogues around
gut health. Unfortunately, it couldn’t solve for the psychological discomfort
associated with seeking access to GI-related healthcare.


Fast forward to today. The GI care options and access available to us far
surpass those of the early 2000s thanks, in large part, to a tsunami of digital
health adoption. Bolstered by the COVID-19 pandemic, the adoption of digital
healthcare has experienced an unprecedented surge, revolutionizing the medical
services landscape. Telemedicine, remote patient monitoring, and virtual
consultations have swiftly emerged as cornerstones of patient care. This rapid
integration of technology not only helped to address immediate health concerns
during a global pandemic, but also set the stage for a more patient-centric and
accessible healthcare future. The flexibility and discretion provided by this
healthcare revolution was particularly impactful for GI digital health—a $78
billion market.


Today, over 70 million Americans grapple with the challenges of managing GI
issues, resulting in 8.3 million annual ER visits, and upwards of $136 billion
in spend—a number greater than heart disease, trauma, or mental health. The
dollars lost to GI issues, however, are only a fraction of the problem plaguing
the patient population. Lost time, productivity, and quality of life are,
undoubtedly, the more damaging side effects.


Enter Vivante Health, our latest Traverse Fund IV investment, and a leading
provider of digital GI care that is working to solve this problem. Led by their
marquee virtual digestive health program, GIThrive, Vivante is reinventing the
management of chronic gut conditions through data-driven technology, advanced
science, and on-demand human support. Currently, the program is provided to
patients free of charge as an employer benefit, and has been wildly successful.
Members who work for Vivante customers—including, Walmart and US Foods—report
consistent improvements in their quality of life, and satisfaction rates in
excess of 90%.

> We have proven that our scalable technology platform paired with our
> comprehensive care team results in better health, lower costs, and a much
> better experience for the members we serve.

– BILL SNYDER, CEO


Following our lead investment in their $31M Series B, Vivante is well positioned
to be the category leader that solves for the digital consumer delivery blind
spots that plague the entire health system. Their team of talented industry
veterans, led by healthcare leader and CEO Bill Snyder, have set an ambitious
vision for Vivante’s future, and are primed to be key contributors to the next
era of U.S. healthcare.


It is our firm belief that by reducing healthcare costs for employers, and
increasing employee productivity and quality of life, Vivante is, undoubtedly,
building better.


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Why We Invested in Vivante Health
News | Insight

A GUT INSTINCT: WHY MERCATO LED VIVANTE HEALTH’S $31M SERIES B

Over 70 million Americans grapple with the challenges of managing GI issues,
resulting in upwards of $136 billion in spend, lost time and productivity, and a
lower quality of life. Vivante Health is addressing this problem by reinventing
the management of chronic gut conditions, and solving for the digital consumer
delivery blind spots that plague the entire health system.
READ NOW
READ NOW
2.8.2023
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For over 15 years we have had the privilege of partnering with visionary
entrepreneurs and teams as they build transformational companies. Founded on the
belief that capital champions change, we strive to invest diligently and
equitably, deploying capital outside of venture-dense coastal cities and
over-saturated technology hubs. By championing—what many consider to be—
“flyover” founders and funding their visionary ideas, we believe that venture
and growth capital have the power to transform the technological and economic
landscape of middle America. No place is a better example of this than Mercato’s
home, Salt Lake City, Utah.


In 2007, Greg Warnock and Alan Hall founded Mercato with the singular goal to
bring local growth capital to the Wasatch valley. Rooted in a mutual passion for
entrepreneurship, both founders understood that investing in local companies at
the growth stage—and not just the venture stage—was a critical component of
fueling the momentum of Utah’s start-up economy. By not having to rely on Bay
Area or Big Apple VCs for later stage funding, Utah companies could partner with
local investors that not only had deep community connections, but shared the
common business values of service, stewardship, and sacrifice.


Out of their first fund—a $52M private equity vehicle–Greg and Alan made
investments into six Utah-based companies: MediConnect Global, Fusion io,
Control 4, Untangle and Skullcandy. In total, the investments yielded a 51.0%
IRR, and established Mercato as a champion of the state’s startup community and
a pillar of its budding venture economy.


While much has changed across the venture landscape since we opened our doors,
Mercato’s commitment to fund the extraordinary has not wavered. In the decades
since, local venture capital has continued to be an important driving force in
fueling the expansion of Utah’s resilient startup ecosystem, in attracting
top-tier global talent, and in enhancing the state’s capacity for innovation. As
a result, Utah is one of the nation’s fastest growing technology hubs, and has
one of the highest rates of billion-dollar startups.


With our fourth and most recent raise—a $400M growth capital fund—we are more
energized than ever to replicate Utah’s success, and seek out the next
generation of great American companies that will disrupt the status quo and
solve today’s complex problems by changing the way we live, learn, and work—for
the better.

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A Memorandum on our Fourth Growth Fund
News

BUILDING BETTER: A MEMORANDUM ON OUR FOURTH GROWTH FUND

For over 15 years we have had the privilege of partnering with visionary
entrepreneurs and teams as they build transformational companies. While much has
changed since we opened our doors in 2007, our commitment to fund the
extraordinary has not wavered. We are more energized than ever to seek out the
next generation of great American companies that will disrupt the status quo and
solve today’s complex problems by building better.
READ NOW
READ NOW
1.10.2023
Text Link

The year is 2023, and the age of artificial intelligence (AI) is upon us. Much
like a Hollywood remake, however, it feels like we’ve seen this movie before.
While the technology feels fantastically new, the recent hype cycle feels eerily
similar to that which preceded the AI winter of the 1990s. The key difference
this time around, however, is that—like Dune—we believe the remake is better
than the original.


More than any other technology that preceded it, the recent release of ChatGPT
and the public consumption of large language models (LLMs) re-launched AI onto
the world stage in an explosive manner. While the technology behind the boom of
LLMs—known as machine learning (ML)—is incredibly exciting, it is all but
certain that we have barely uncovered the tip of the AI iceberg and the
world-changing opportunities that it will inevitably unearth. Deep learning,
specifically, holds immeasurable promise.


A subset of ML, deep learning is distinguished by its use of neural networks
that—unlike traditional data processing algorithms—learn directly from data
without requiring manual feature extraction. This revolutionary technology has
(so far) enabled autonomous vehicles, medical imaging for disease detection,
real-time language translation, and neural artwork—things that, just a few
decades ago, would have been considered science fiction fodder. In the
not-too-distant future, however, deep learning will be a fundamental component
of nearly every line of software, every piece of press, and every digital
interaction. Regardless of the end application, the world will run on AI, and AI
will run on Lambda.

> Lambda is going to be the #1 GPU cloud in the world.

– STEPHEN BALABAN, CEO

The Deep Learning Company ™, Lambda builds the workstations, datacenter servers,
and cloud services that power the engineers and researchers at the forefront of
human knowledge. As the only hybrid AI compute company, it provides deep
learning engineers with an AI development environment pre-configured with common
ML frameworks that simplify and accelerate the training and deployment of deep
learning models. From sharing saved models and data sets to letting engineers
easily spin up new virtual machines, Lambda is an AI infrastructure power
player, and in the realm of vertically integrated deep learning compute power,
no one company is building better.

This is some text inside of a div block.

Why We Invested in Lambda
News | Insight

THE INFRASTRUCTURE OF THE FUTURE: WHY MERCATO LED LAMBDA’S $44M SERIES B

As the world’s datasphere grows, so too does the need for parallel processing
power. Regardless of the end application, the future of deep learning is
dependent on compute infrastructure to deliver this power, and in the world of
vertically integrated deep learning compute, no one company is building better
than Lambda.
READ NOW
READ NOW
1.10.2023
Text Link

In 2004, the introduction of high deductible healthcare plans (HDHPs) changed
the insurance payment landscape in the United States for patients, but not for
the better. Over the course of the following two decades, HDHPs—which typically
only cover preventative care—would become the norm. Consequently, reactive
care—such as medical emergencies and accidents—began to result in higher
out-of-pocket costs. The outcome? Americans were frequently made to choose
between visiting a doctor or going into debt.

In addition to the increased personal financial liability associated with
seeking healthcare, the underlying cost of that care has been on the rise over
the last two decades. Between 2010 to 2020 alone, the cost of healthcare in
theUnited States rose by 37% on a constant dollar basis. Unsurprisingly, the
prevalence of medical debt also rose to 58% over this same period according to a
study byThird Way.

All of this is even more concerning when taking into consideration that the $98B
(as of 2021) held in Health Savings Accounts (HSAs)is not solving for this
liquidity issue. Paytient, on the other hand, is.

Founded in 2018, Paytient created the Health Payment Account(HPA), a new asset
class and employer-sponsored benefit that provides covered members a way to pay
for medical-related expenses without fees, interest, or credit checks. Designed
to help provide relief to the increasing number of patients who struggle with
high deductibles and empty HSAs, Paytient is a sponsored, interest-free line of
credit that works in coordination with insurers and health systems, and allows
members to pay for care over time through customizable payments plans that come
directly out of their paychecks.

> Few people plan on getting sick, and even fewer are immune to the financial
> impact of unexpected out-of-pocket healthcare costs

– BRIAN WHORLEY, CEO

In addition to selling into an employer as a part of its benefit package,
Paytient partners with insurers and health systems to help minimize balance
sheet risks and liabilities, reduce administrative burdens, and improve patient
quality and experience. By integrating across the provider and payor spectrum,
Paytient is helping to ensure more equitable, accessible, and predictable care.
After all, when patients have the power to pay and the dignity of choice, they
make better decisions, leading to improved provider NPS scores and increased
volumes of commercially insured patients.

Today, Paytient serves over 1,000 enterprise clients in partnership with most of
the Fortune 100’s major payors, and is developing new product features in
pursuit of the company’s mission to not only ensure people have the power to pay
for healthcare, but also to help them more easily access quality care for better
prices.

By building towards a healthier future, Paytient is, undoubtedly, building
better.

‍

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Why We Invested in Paytient
News | Insight

ENSURING CARE: WHY MERCATO LED PAYTIENT’S $40M SERIES B

In 2004, the introduction of high deductible healthcare plans changed the
insurance payment landscape in the United States for patients. As the price of
healthcare increased and patients became personally liable for more of their
care costs, so too did the prevenance of medical debt increase. While Health
Savings Accounts are not solving for this liquidity crunch, Paytient is.
READ NOW
READ NOW

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tristique sollicitudin. Ipsum faucibus vitae aliquet nec. Ac auctor augue mauris
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proin. Lorem sed risus ultricies tristique nulla. Nunc faucibus a pellentesque
sit. Sem integer vitae justo eget magna fermentum iaculis eu. Euismod in
pellentesque massa placerat duis
ultricies lacus sed. Id consectetur purus ut faucibus pulvinar elementum
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volutpat consequat. Morbi enim nunc faucibus a.

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augue neque.

> This is a Large Pull quote that is incredibly Impactful and moving. We should
> probably win a pulitzer for it.

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