Tech StartUps Archives

Introduction In the past few years, we’ve seen innovative technologies like never before. But most importantly these innovations are coming from tech startups and that’s partly due to recent advancements in the field of artificial intelligence. Statista says that funding for AI startups worldwide amounted to $24 billion in 2019 which was a tenfold increase from 2013. Some of these startups have been observed to introduce new products and services, while others have delivered existing technologies in new ways. In this blog post, we will see some of the top tech startups to look out for in the coming year. But, let’s first understand a little bit about startups. What is a Tech Startup? Tech startup describes any company working in the technology domain, first in the state of operations. It can be recognized by having one or more entrepreneurs developing a product or service in demand. Since tech startup begins with limited revenue and high operation costs, they usually require huge capital. Hence, they usually include bank loans, business incubators, government grants, and venture capitalists. When you hear tech startup, one thing that probably comes to your mind is a dingy basement in Silicon Valley. But, that’s not surprising as the United States remains the largest tech market in the world with $1.6 trillion. However, today’s startup extends beyond mere location. So, here are some interesting stats on tech startups: Census Bureau and two MIT professors found that the most successful entrepreneurs tend to be middle-aged even in the tech sector. Inc says a 50-year-old entrepreneur is almost twice as likely to start an extremely successful company as a 30-year-old. Crunchbase says the percentage of female startup founders has doubled from 10% to 20%, from 2009 to 2019. The brex founder spending report says that the average age of a Startup founder is 45. The Brex founder spending report says Facebook and Amazon Web Services are the leading expenses for advertising and web services; Zoom dominates for web conferencing. Statista says that cities in California hold 8 of the top 10 spots for startups per capita. 47% of Series A-funded startups spend more than $400k/month. (source) Seed-funded companies spend on average $118k/month. (source) Less than 10% of seed-funded startups make it to Series A. (source) HubSpot CRM gets almost twice the revenue from startups compared to industry giant Salesforce. (source) Here are the top 7 eye-opening tech startups to follow on 2021: 1. Better.com Founder: Vishal Garg Full-time headcount: 4,000 Headquarters: New York City Year founded: 2016 Website: https://better.com/about-us Last year, as the U.S. economy sank into recession with the onset of the coronavirus pandemic, housing is one of its engines that continued to roar. In 2019, 86% of new homeowners purchased a previously lived-in home and in 2020, it is estimated that around 5.46 million existing homes are going to be sold. Better.com is a digital mortgage lender that has been inundated with refinancing applications. They take care of new loan demand due to the falling interest rates and growing need for space. The mortgage lender backed by Kleiner Perkins, Goldman Sachs, and Citigroup, told its investors that they are expecting its revenue to jump from $100 million in 2019 to north of $800 million this year. To keep up with demand, the company is hiring at a staggering rate. Currently, the four-year-old company has more than 4ooo employees and has already added 1,500 since the lockdown. They are further planning to add 7,000 more in the next 12 months. 2. DoorDash Founder: Tony Xu, Stanley Tang, Andy Fang, and Evan Moore Full-time headcount: 3,500 Headquarters: San Francisco Year founded: 2013 Website: https://www.doordash.com/about/ DoorDash, an American food delivery service, has gone public in February this year. The company initially offered a food delivery service and with the on-demand, it was already embarking on a big year. With the onset of the pandemic and quarantines, the demand for doorstep delivery skyrocketed. While the San Francisco-based company continued to clash with California regulators over its dashers, its ambitions have only grown. In the initial year of operations, DoorDash received $2.4 million in funding and expanded to 70 restaurants in the Bay Area. After that, the company grew at a rate of 20 percent every week, according to Y Combinator. Recently, the company also expanded its delivery service into grocery and pharmacy offerings. They have also doubled their employee base for the second time in the last two years. They are currently looking to revamp their hiring process to focus on “engineering values”. TOP 6 Hottest Tech Startup Trends for 2021 READ BLOG 3. Robinhood Founder: Vladimir Tenev and Baiju Bhatt Full-time headcount: 1,042 Headquarters: Menlo Park, Calif. Year founded: 2013 Website: https://robinhood.com/us/en/about-us/ Robinhood is an American financial services company. It bills itself as “investing for everyone” and has sought to democratize stock market investing via its app. Their apps make trading easy to execute and affordable. The fintech company has recently raised $200 million in a new round of funding which has made it worth grow to $11.2B. According to SensorTower, Robinhood was the 10th most downloaded financial app in 2018 and 2019. Now to keep with its growth, the company is on a hiring spree. They are simultaneously responding to growing regulatory concerns and bringing in hundreds of registered financial service representatives. 4. Samsara Founder: Sanjit Biswas and John Bicket Full-time headcount: 1,350 Headquarters: San Francisco Year founded: 2015 Website: https://www.samsara.com/about Samsara is an integrated platform that aims to increase safety, efficiency, and sustainability. They are on a mission to make internet-connected sensor systems for trucks and other vehicles for operational safety and efficiency. The company is ranked 2nd among the top 10 competitors. In May, retrenchment in some of its leading European markets led to layoffs. However, the company's U.S. operations remain robust. The company has nearly 30% of the non-male engineering team and one of the highest percentages among U.S. Top Startups. 5. Databricks Founders: Ali Ghodsi, Matei Zaharia, Reynold Xin, Scott Shenker, Ion Stoica, Andy Konwinski, and Patrick Wendell Full-time headcount: 1,500 Headquarters: San Francisco Year founded: 2013 Website: https://databricks.com/ Databricks is an open-source analytics platform. They provide other companies with machine learning and data science tools to help them extract more value from data. Till not they have worked for many clients. They have helped healthcare providers develop tailor-made treatment plans to giving banks an upper hand in tracking fraudulent activity. In February 2021, Databricks reported $1b funding in its latest funding round. In total, Databricks has raised $1.9 b, and now it's valuated at $28 b. The company has also recently acquired Tel Aviv-based Redash, a data visualization firm, to expand its dashboard capabilities for its customers. 6. Outreach Founders: Wes Hather and Gordon Hempton Full-time headcount: 595 Headquarters: Seattle Year founded: 2014 Website: https://www.outreach.io/company Outreach is a sales engagement platform that aims to helps customers drive more pipelines and close more deals efficiently and effectively. The company provides AI-powered tools to help sales reps identify, contact, and stay in touch with the customers. The well-known tech firm has recently doubled its headcount to reach nearly 600 employees since 2019. They have also raised their funding to $50 million in June and are not valued at $1.33 billion. With this fund, they are looking to support the development of new tech and expands into Europe. 7. Modern Health Founder: Alyson Watson Full-time headcount: 101 Headquarters: San Francisco Year founded: 2017 Website: https://www.joinmodernhealth.com/about-us Modern Health is a global mental health and well-being platform for employees. The platform provides them with an option to tap into the virtual resource and get on-demand access to certified coaches or therapists for help. They can reach out to them with anything from burnout to depression. The startup has recently opened its resources to the general public in response to the growing need to create groups and address racial trauma and social isolation. Currently, Modern Health estimates an annual revenue of $24.7M per year and they have raised over $42M in venture funding. FAQs: 1. How to Start A Tech Startup? Here are 7 things to remember when planning to start a tech startup: Make a rigid business plan with minimum loopholes Plan for secure funds with the appropriate amount Make your team and surround yourself with the right people Find a physical location and build a fresh website Try to learn and become marketing as well as an HR expert Build a solid customer base Prepare for rough situations 2. How to Invest in Tech Startups? Before investing in a startup, you should do proper research about the market they are invested in, their background, employees, and others. There are two major ways to invest in a startup. You can either invest through online platforms for early-stage investors such as AngelList and Propel(x) or you can invest through publicly traded funds in later-stage. Conclusion: In this blog post, we have covered the top 7 eye-opening tech Startups that are aiming to make a difference in the future. These tech startups are making a difference in the real world and creating employment on a large scale. In the future, you should be following these startups for more technological innovations. We have tried to cover the top 7 tech startups for 2021, if we have missed your favorite do let us know in comment section. Author Bio: Shreeya Chourasia is an experienced B2B marketing/tech content writer, who is diligently committed for growing your online presence. Her writing doesn’t merely direct the audience to take action, rather it explains how to take action for promising outcomes.

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