8/22/2023 0 Comments Forbes a million dollar ideaThink of Hyperscience like a digital assembly line for forms, humming behind the scenes. Hyperscience Founders: Peter Brodsky (CEO), Krasimir Marinov, Vladimir Tzankov Equity raised: $189 million Estimated 2020 revenue: $16 million Lead investors: Bessemer Venture Partners, Felicis Ventures, FirstMark, Stripes, Tiger Global “Therapists get to say yes to people they would typically have to say no to, patients are able to spend $20 instead of $200 for a session and insurance companies are actually saving money with more people seeing therapists,” says Adams. Headway makes its money by getting a cut of the insurer’s reimbursement. The company says that three quarters of the therapists who signed on in New York City, its first market, did not previously take insurance. Patients then have access to a free directory of therapists they can actually afford. To up that number, Headway built software that handles billing and administrative support. Many therapists (Headway claims 70%, based on its own 2018 survey) don’t take insurance. After working on it a year and a half, Adams realized the greater problem was that so many people simply couldn’t afford professional help. His own experience dealing with depression in therapy, however, led him to launch New York City-based Headway in 2017 as a matching tool for patients and therapists. A Stanford graduate with a master’s degree in engineering and a professional background in venture capital, Adams never expected to be the founder of a mental healthcare startup. “My life was changed when I saw a therapist,” says Adams, 30. Headway Founders: Andrew Adams (CEO), Kevin Chan, Dan Ross, Jake Sussman Equity raised: $103 million Estimated 2020 revenue: $16 million Lead investors: Accel, Andreessen Horowitz, GV, Thrive Capital The company counts 23andMe’s billionaire cofounder Anne Wojcicki among its backers. Its revenue is expected to double to $72 million this year. Embark has tested close to one million dogs since its 2015 founding, and, with the consent of owners, is using the data generated to conduct research into dog health. Boston-based Embark Veterinary now sells DNA testing kits (priced at $129 to $199) that give customers insight into their pets’ genetics and potential future health issues. This list represents the 25, in alphabetical order, that we think have the best shot of becoming future stars.Įmbark Veterinary Founders: Adam Boyko, Ryan Boyko (CEO), Matt Salzberg, Spencer Wells Equity raised: $95 million Estimated 2020 revenue: $36 million Lead investors: F-Prime Capital, Founder Collective, Freestyle, Slow Ventures, SoftBank, Third Kind Venture Capitalīack in 2007, Adam Boyko, 43, a canine geneticist, and his brother Ryan, 37, who has a master’s degree in public health, set out to study the origins of domestic dogs and realized that the country’s nearly 50 million dog-owning households might also be curious about their pets’ backgrounds. Still there are plenty of up-and-comers worth keeping an eye on, including one that tests your dog’s DNA and another that will help you notarize documents from the comfort of your home. The average estimated 2020 revenue for companies on this year’s list is just $12 million, compared with an average $30 million in previous year’s revenue for those on the 2020 list. Even startups with barely any revenue are earning sky-high valuations as investors bet on future growth. A $1 billion valuation isn’t what it used to be, as companies reach that milestone at breakneck speed. Then came the deeper look, as we analyzed finances and interviewed founders and investors. TrueBridge asked some 300 venture firms to nominate companies, while Forbes reached out directly to 80 startups. For the seventh year in a row, Forbes has teamed up with TrueBridge Capital Partners to search for the country’s 25 venture-backed startups most likely to become unicorns.
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