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25 Startups That Can Soon Become Unicorns

Forbes unveils annual ranking of the fastest growing startups that could soon become unicorns.

Among them are a drug delivery service, psychological assistance for employees of eBay and Starbucks and a company helping to find programmers on a remote site.

When compiling the rating, TrueBridge Capital Partners, an investment company, asked 300 venture capital firms to name the companies that, in their opinion, are likely to become “unicorns.” In turn, Forbes directly interviewed more than 100 startups and studied their financial performance. Who entered the ranking?

Acorns

CEO: Noah Kerner

Founders: Jeff Krattenden, Walter Krattenden

Attracted investment: $257 million

2019 revenue: $50 million

Leading investors: Bain Capital, e.ventures, Greycroft, NBCUniversal, PayPal, TPG Capital

Fintech startup Acorns was founded in 2012. The main idea of ​​the service is to round off the change from purchases that customers make using debit and credit cards, and automatically invest these amounts in the stock market. The founders of the startup focused on investing in exchange-traded funds. Acorns now has 7.7 million users and assets under management of $2.3 billion. The startup charges users $1 per month for investment services and also offers pension and current accounts with services for $3 per month.

Algolia

CEO: Bernadette Nixon

Founders: Nicolas Desssany, Julien Lemoine

Attracted investment: $184 million

2019 revenue: $50 million

Leading investors: Accel, Alven, SaaStr Fund, Salesforce Ventures

Algolia helps to create a search on the site and thereby increase online audience engagement and revenue. Algolia’s clients include Coursera, NPR, Under Armor, and others. With this startup from San Francisco, website visitors send 3 billion searches every day. Now Algolia offers the opportunity to automatically personalize sites for each visitor and provides analytics about what happens after the search, for example, whether it leads to a purchase.

Andela

CEO: Jeremy Johnson

Founders: Ainoluva Aboyedzhi, Ian Carnevale, Nadayyar Enegesi, Jeremy Johnson, Bryce Nkengsa, Christina Sass

Attracted investment: $181 million

2019 revenue: $50 million

Leading investors: Chan Zuckerberg Initiative, CRE Venture Capital, Generation Investment Management, Spark Capital

A startup based in New York seeks and educates software developers in Africa, and then arranges for remote work with companies such as Microsoft, Facebook and Google. “We have become the primary link between technology ecosystems across Africa and the United States,” says company founder Jeremy Johnson.

Benchling

CEO: Sajit Vikramasekara

Founders: Ashu Singal, Sajjit Wikramasekara

Attracted investment: $114 million

2019 revenue: $21 million

Leading investors: Alkeon, Andreessen Horowitz, Benchmark, Menlo Ventures, Thrive Capital, Y Combinator

Today, biotechnology companies Regeneron, Gilead and hundreds of other companies use startup software for research. While many customers are in a hurry to search for vaccines and drugs to treat COVID-19, Benchling is ready to help but has stopped offering software updates to those whose projects have been closed due to quarantine.

Capsule

CEO: Eric Kinarivala

Founder: Eric Kinarivala

Attracted investment: $270 million

2019 revenue: $100 million

Leading investors: Glade Brook Capital, TCV, Thrive Capital

Five years ago, startup founder Eric Kinarivala spent almost an hour at a local pharmacy to buy medicine for sinusitis. When his turn finally came, it turned out that the drug was not available. This experience prompted the entrepreneur to create a company Capsule in New York, which offers to buy medicines through the application or SMS and receive a free courier home delivery within two hours. During the crisis, because of the coronavirus Capsule, “it’s turned from just a convenient service into a necessity,” says the startup founder. Capsule has been successful in the New York market, has made good money and is now planning further expansion.

Coalition

CEO: Joshua Motta

Founders: John Hering, Joshua Motta

Attracted investment: $125 million

2019 revenue: $27 million

Leading investors: Hillhouse Capital, Ribbit Capital, Valor Equity Partners, Vy Capital

Coalition insurance firm specializes in cybersecurity and helps companies recover up to $ 15 million in damages resulting from hacker attacks, extortion, fraud, and security vulnerabilities. Coalition also helps prevent such losses by scanning the Internet in advance for vulnerabilities and alerting users to potential threats.

Cockroach labs

CEO: Spencer Kimball

Founders: Ben Darnell, Spencer Kimball, Peter Mattis

Attracted investment: $195 million

2019 revenue: $5 million

Leading investors: Altimeter, Benchmark, GV, Index Ventures, Redpoint

The startup provides cloud-based relational databases that are robust and protected from power outages or system crashes. Cockroach Labs has built an impressive customer base of nearly a hundred subscribers, including Bose, Comcast and Netflix. In May, the company raised $ 87 million at a valuation of $850 million.

Expanse

CEO: Tim Junio

Founders: Tim Junio, Matt Craning, Sean Maguire

Attracted investment: $136 million

2019 revenue: $30 million

Leading investors: Founders Fund, IVP, New Enterprise Associates, TPG Capital

A startup in San Francisco offers customers like CVS and PayPal an overview of their digital assets, such as domains, IP addresses, and cloud infrastructure, allowing them to monitor vulnerabilities and identify potential cyber attacks.

Fivetran

CEO: George Fraser

Founders: Taylor Brown, George Fraser

Attracted investment: $60 million

2019 revenue: $15 million

Leading investors: Andreessen Horowitz, CEAS, Matrix Partners, Y Combinator

Fivetran, whose name outperforms the name of the Fortran IBM 50s coding system, combines organization data from isolated sources using pre-designed “connectors” to enable complex data analysis. To date, the company has created more than 130 automatic “connectors” with data sources, including Salesforce, Oracle and Dropbox. Customers include Square, DocuSign, and ClassPass.

Gong

CEO: Amit Bendov

Founders: Amit Bendov, Eilon Reshef

Attracted investment: $133 million

2019 revenue: $30 million

Leading investors: Battery Ventures, Norwest Venture Partners, Sequoia

Gong software automatically processes and scans all user communications with customers: emails, calls or video chats — to identify who can already try to offer a more expensive tariff, and who is about to refuse the company’s services.

Homebound

CEO: Nikki Pechet

Founders: Jack Abraham, Nikki Bakes

Attracted investment: $53 million

2019 revenue: $10 million

Leading investors: Atomic, Fifth Wall

When many areas of California were hit by devastating fires in 2017, entrepreneurs Abraham and Pechet set up Homebound in Santa Rosa to help other homeowners rebuild. The startup helped with all stages: from obtaining a building permit and applying to an insurance company to design and construction.

Ironclad

CEO: Jason Boemig

Founders: Jason Boemig, Kai GoGwilt

Attracted investment: $84 million

2019 revenue: $10 million

Leading investors: Accel, Sequoia, Y Combinator

San Francisco-based startup software allows companies to easily process, edit, mail out contracts and link to them. The company’s clients, including Mastercard, Staples and Reddit, work closely with Ironclad’s team of lawyers to tailor the software to their needs.

Lyra health

CEO: David Ebersman

Founders: Dena Bravata, David Ebersman, Bob Kocher, Brian Roberts

Attracted investment: $176 million

2019 revenue: $50 million

Leading investors: Glynn Capital, Greylock Partners, IVP, Meritech Capital, Tenaya Capital, Venrock

Every year, approximately 50 million Americans suffer from mental health problems. The main difficulty is not in treatment, but in access to help. 50-year-old Ebersman in 2014 left the post of financial director of Facebook to deal with this problem. Lyra’s solution is to help companies provide employees with psychological help. The service was used by approximately 40 companies, including eBay, Pinterest and Starbucks, as a result of which more than a million people gained access to 3,000 psychotherapists, coaches and Lyra doctors.

Mirror

CEO: Brynn Putnam

Founder: Brynn Putnam

Attracted investment: $72 million

2019 revenue: $45 million

Leading investors: Lerer Hippeau, Point72 Ventures, Spark Capital

This startup sells high-tech mirrors for $1,495 to help create a home gym. After the purchase, customers pay another $39 per month for access to an unlimited library of various exercise groups — from cardio and weight training to yoga.

Moveworks

CEO: Bhavin Shah

Founders: Zhang Chen, Vaibhav Nivargi, Bhavin Shah, Varun Sing

Attracted investment: $105 million

Estimated revenue for 2019: $10 million

Leading investors: Bain Capital, Iconiq Capital, Kleiner Perkins, Lightspeed

With the help of artificial intelligence, the company automates IT support using natural language processing so that tasks like unlocking accounts or adding colleagues to the email newsletter are solved automatically, and not with the participation of a live IT specialist.
After launching a few years ago, an artificial intelligence developed by a startup could solve only 5–8% of the company’s IT tickets. Today, thanks to advanced machine learning technologies, this figure has reached approximately 40%.

Rippling

CEO: Parker Conrad

Founders: Parker Conrad, Prasanna Sankar

Attracted investment: $100 million

Estimated revenue for 2019: $10 million

Leading investors: Initialized Capital, Kleiner Perkins, Y Combinator

Startup software allows you to centrally manage salaries, bonuses, equipment and applications of employees. This means that the process of hiring new employees goes smoothly, and small and medium enterprises can save time on administrative work.

Shipwell

CEO: Greg Price

Founders: Gregory Price, Jason Traff

Attracted investment: $47 million

Estimated revenue for 2019: $30 million

Leading investors: Fifth Wall, First Round Capital, Georgian Partners

With artificial intelligence and machine learning, Shipwell, based in Austin, Texas, offers cargo tracking and analytics to help increase efficiency and save millions.

Signal sciences

CEO: Andrew Peterson

Founders: Nick Galbraith, Zane Lackey, Andrew Peterson

Attracted investment: $62 million

Estimated revenue for 2019: $30 million

Leading investors: Charles River Ventures, Harrison Metal, Index Ventures, Lead Edge Capital, OATV

The founders of Signal Sciences met as developers at Etsy, where they worked on a cyber defense system for an electronic trading platform. In 2014, they launched their startup in San Francisco, which protects company web applications from cyber attacks.

Smartrent

CEO: Lucas Haldeman

Founder: Lucas Haldeman

Attracted investment: $102 million

Estimated revenue for 2019: $35 million

Leading investors: Bain Capital, RET Ventures, Spark Capital

SmartRent turns smart home technologies, such as smart locks and thermostats, into multifunctional devices. Startup charges users up to $1000 for installation and equipment, as well as a monthly fee in the amount of $5 to $10. Smart locks allow potential tenants to inspect vacant apartments in person, without the presence of the owners — a service that is especially in demand during a pandemic.

Solugen

CEO: Gaurab Chakrabarti

Founders: Gaurab Chakrabarti, Sean Hunt

Attracted investment: $80 million

Estimated revenue for 2019: $12 million

Leading investors: Founders Fund, Y Combinator

Startup founders have developed bacterial strains with an edited genome and enzymes that turn corn sugar into chemicals commonly made by breaking down oil. Now a Houston-based company can biologically produce sanitizer ingredients and treat wastewater. The next goal is to develop greener fertilizers for farmers.

Superhuman

CEO: Rahul Vohra

Founders: Conrad Irwin, Vivek Soder, Rahul Vohra

Attracted investment: $51 million

Estimated revenue for 2019: $20 million

Leading investors: Andreessen Horowitz, First Round

Superhuman startup claims that it helps Gmail and iPhone users to parse mail twice as fast in the quest for “zero incoming.” For this, the company charges $30 per month from users.

Tally

CEO: Jason Brown

Founders: Jason Brown, Jasper Platz

Attracted investment: $92 million

Estimated revenue for 2019: $20 million

Leading investors: Andreessen Horowitz, Cowboy Ventures, Kleiner Perkins, Shasta Ventures

Tally is an application that helps users automate the payment of credit card debt. Tally users take pictures of their credit cards, and if they meet the requirements (their FICO rating should be 660 or higher), Tally offers them a new credit line. Then the algorithm determines the size of a single monthly payment and the sequence of payments taking into account interest rates.

Tray.io

CEO: Richard Waldron

Founders: Dominic Lewis, Alistair Russell, Richard Waldron

Attracted investment: $109 million

Estimated revenue for 2019: $15 million

Leading investors: GGV Capital, Meritech Capital, Mosaic Ventures, Spark Capital, True Ventures

Tray’s workflow automation tools help companies solve tasks such as generating marketing leads and processing payments. By integrating applications through a graphical interface, Tray helps marketers automatically generate leads and saves IT departments hours of work with standard code.

Trusted health

CEO: Lenny Slivinsky

Founders: Matt Pierce, Lenny Slivinsky

Attracted investment: $25 million

Estimated revenue for 2019: $28 million

Leading investors: Craft Ventures, Felicis Ventures, Founder Collective

Trusted Health helps job-seeking nurses get in touch with the hospitals that need them.

Weave

CEO: Brandon Rodman

Founders: Clint Berry, Brandon Rodman, Jared Rodman

Attracted investment: $152 million

Estimated revenue for 2019: $50 million

Leading investors: A.Capital Ventures, Catalyst Investors, Crosslink Capital, Lead Edge Capital, Tiger Global Management

In 2008, Brandon Rodman founded his first company, Recall Solutions, to help dentists record patients by telephone. In 2011, he took this idea as the basis and launched Weave. First, he focused on dentists, and then drew attention to optometrists, doctors in clinics, veterinarians and other specialists, most of whom now pay him $ 595 per month for various products, including telephones with VoIP protocol, payment terminals, as well as incoming and outgoing SMS.

Author: Marko Vidrih

Featured image credit: Unsplash

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Marko Vidrih

Marko Vidrih

Most writers waste tremendous words to say nothing. I’m not one of them.