Three Utah Firms — Paiv, Paramify, and Paterna Biosciences — Have Raised a Combined $14.5 Million in Seed Round Funding

How it is that each of these three firms have names that start with the letters "Pa," I cannot say.

Nevertheless ...

Two Lehi-based firms, Paiv (formerly Gamify) and Paramify, have raised $5.0 million and $3.5 million, respectively, while

Salt Lake City-based Paterna Biosciences raised $6.0 million.

Three Utah-based firms (each with names that start with the letters "Pa"), have closed Seed Rounds of funding, raising a combined $14.5 million in total.

In alphabetical order, the three firms are

• Lehi, Utah-based Paiv (formerly Gamify) which raised $5.0 million in its Seed Round;
• Lehi-based Paramify which raised $3.5 million in its Seed Round; and
• Salt Lake City, Utah-based Paterna Biosciences which raised $6.0 million.

ONE: The first of these three firms, Paiv, has launched a Software-as-a-Service (SaaS) platform focused on the "... field sales and service market ...," one that can be used as a standalone customer relationship management (CRM) application or integrated with other CRM apps, such as Salesforce and Hubspot.

According to the company, Paiv's uniqueness centers around its AI-empowered SaaS platform that allows sales and service professionals to use voice commands to "... enhance everything from prospecting, scheduling, and routing, to reporting, work orders, and dispatching ..."

Paiv's $5 million in Seed Round funding was provided by investment firms Hannah Grey, i2BF, K5, MXV, New Stack, Pipeline Capital, RWI, Swiftscale, Super Angel, and Tenzing (listed in alphabetical order).

According to Paiv CEO and Co-Founder, Emily Applegarth,

"... services and trades ... professionals are the backbone of our economy. They are literally putting roofs over our heads, keeping the lights on and paving the way for an advancing infrastructure, (and) I'm honored to support (their) growth with world-class technology."

Paiv writes that the Home Services market generates over $650 billion in revenue annually and is one of the key markets Paiv is targeting.

That said, this market focus is clearly quite different from the SaaS-based sales enablement tools from Voze, the Sandy, Utah-based firm that recently announced a $12 million Series A round of funding to support its efforts in targeting so-called "Gray Collar" professionals selling high-ticket products into industrial markets.

TWO: The second of these three firms, Paramify, is highly focused on leveraging technology tools to quickly solve the widely complex and time-consuming legal and regulatory requirements facing GRC professionals — those that work in "Governance, Risk, and Compliance."

According to its website,

"Paramify is security planning and documentation software that automates the compliance documentation process that GRC professionals love to hate – including FedRAMP, StateRAMP, TX-RAMP, CMMC, and SOC2, with more frameworks coming soon."

By using its platform, Paramify claims that GRC activities that could take months can now be completed within hours.

According to Kenny Scott, Paramify CEO and Founder,

"... the endless paperchase (of Governance, Risk, and Compliance) tends to drive cybersecurity professionals to the brink of insanity. Paramify automates that paperchase – it's an Iron Man suit for your GRC team. Thanks to our team and community, it just keeps getting better.”

Its $3.5 million in Seed Round funding was provided by Lehi, Utah-based Album Ventures and Montana-based Next Frontier Capital, which has an office in Utah.

THREE: Last of all, the third of these three firms, Paterna Biosciences, is focused on solving male infertility, specifically in the in vitro fertilization marketplace, aka, IVF.

According to the Paterna news release,

"Male infertility contributes to approximately 50% of failed ... IVF cycles globally, highlighting an urgent need for new treatment options."

To address challenges with male infertility in the IVF arena, Paterna is apparently developing new laboratory-based technologies to use stem cells to create viable sperm cells "in vitro" (within a lab setting) for use during in vitro fertilization efforts.

How it is doing this, Paterna does not explain, either on its website or in its funding news release.

According to Paterna's CEO and Co-Founder, Alexander Pastuszak, MD, Ph.D.,

"Our in vitro spermatogenesis (IVS) science has the potential to fundamentally change reproductive health treatment, putting male infertility on par with female fertility, and improving how couples around the world receive fertility care. (As such), we are a step closer to expanding access to fatherhood for millions."

{NOTE: In plain English, in vitro spermatogenesis (IVS) is the multistep, laboratory process for creating healthy sperm cells from stem cells.}

To this end, Paterna writes that it hopes to enter early-phase clinical studies in 2025 with Go-to-Market plans if/when it receives clearance from the U.S. Food and Drug Administration.

According to its funding news release, Paterna's $6 million in Seed Round funding was "... led by SpringTide Ventures, with participation from e184 and others."

{NOTE: SpringTide is headquartered in Massachusetts, but has an office in Salt Lake City.}

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Paterna Biosciences – See https://www.einpresswire.com/article/752563414/paterna-biosciences-secures-seed-funding-to-advance-groundbreaking-male-fertility-treatment