The TechCrunch 200 is a list of the most promising private technology companies in the world. It’s an incredible accomplishment for any startup to make it onto the list, let alone raise 85 million. But this company did it.
Marshmallow
Marshmallow is an insurance startup that has a few tricks up its sleeve. The company has doubled its headcount in the past year and has a grand plans to expand into new markets. Its marquee product is a motor vehicle insurance policy and it has sold over 100,000 policies to date.
In its most recent funding round, the firm raised an impressive $116.2 million. This included a $1.2 million seed round in 2018, a $30 million Series A in 2020 and non-equity support from Future Fifty in 2021. That’s not bad, considering that the industry has a $5 trillion market cap and is highly regulated.
While the company has yet to announce a slew of international offices, it seems like they have their sights set on the burgeoning market in Europe. Their website has a decent number of pages and while it doesn’t have a live chat function, it is a pleasant enough experience to behold.
Not only is it a well run organization, it’s also an interesting case study in how an insurance startup can use technology and big data to create competitive products at reasonable costs. The company is already planning to expand into the European market and has the tech talent and the budget to do so.
OctoML
OctoML recently raised $85 million in a Series C funding round led by Tiger Global Management. The Seattle-based start-up offers a machine learning acceleration platform built on an open source framework called Apache TVM. With this tool, enterprises can build, deploy, and optimize machine learning models across the cloud, on-premises, and even on edge devices.
Using OctoML’s technology, enterprises can save up to two or more times the amount they normally would in computing costs. It also helps speed up the deployment of machine learning models, helping to accelerate the inference of AI-based business decisions.
OctoML is also building out a partner ecosystem, which includes a handful of hardware and cloud vendors. These companies include AMD, Arm, and Qualcomm. They plan to use the new funds to build out their customer support teams, invest in go-market strategy, and grow the team.
In the same vein, OctoML is also recruiting 20+ open positions. They are looking to bring on a wide variety of experts in areas such as cloud, data science, machine learning, and cybersecurity. A number of prominent Silicon Valley names are involved with the company, including Andy Dinh, founder and CEO of Blitz App.
OctoML is working with a broader swath of customers, ranging from dozens to hundreds. Some of its early adopters include Toyota, Microsoft, and Bosch.
Getir
Getir is an instant grocery delivery service originating in Turkey. Unlike traditional grocery delivery companies, the company does not rely on contractors to pick and deliver goods. Rather, it is a mobile app that lets consumers place orders and track them on their phone.
Getir is one of several startups trying to popularize the idea of ordering groceries online without having to wait for delivery. The company’s service is designed to be quick, convenient and cheap. To order on Getir, customers select items they want to buy and press the order button. Once an order is placed, the startup starts working on it right away.
Since its founding, Getir has expanded into other grocery-related services. It now has a service in nine countries, including the U.S., Germany and Italy. With its recent funding round, the startup now has more than $850 million in capital.
Getir plans to use the new funds for expansion and for a larger number of stores in the U.K., which it plans to open as a nationwide network. Currently, the company has a footprint of between nine and 15 cities in the U.K. Earlier this summer, Getir acquired a smaller player in Southern Europe.
Snapcommerce
The latest round of funding from Snapcommerce came at the tail end of a year of growth for the company. In October, the company raised a total of $85 million in equity and debt financing. This included an $107 million CAD growth round led by Lion Capital and Inovia Capital, as well as participation from Bee Partners and Telstra Ventures.
For starters, Snapcommerce is a company that uses mobile messaging services to deliver promotions to customers. It also makes money by charging merchants a commission. According to CEO Hussein Fazal, the company has already been used by over 10 million customers and is growing by the day.
Snapcommerce is making a name for itself by bringing the mobile shopping experience to the masses. For example, its Snaptravel service automatically searches the web for flight and hotel deals. Users can then message the company with their preferred choices and receive better prices.
In addition, the company has developed a new credit card product. It offers rewards and cashback on purchases.
What’s more, the company has over a hundred million dollars in annualized sales. Plus, its waiting list exceeds 5,000 people.
One of the more interesting feats of the company is its COVID-19 – an acronym for “coronavirus pandemic.” Snapcommerce attributed its success to creating unique and customized experiences for consumers.
SWORD Health
SWORD Health raised an incredible 85 million dollars in its Series C funding round. The tech startup has built a platform that provides virtual physical therapy for musculoskeletal (MSK) conditions. Its digital therapist provides feedback and pointers to members, enabling them to have sessions in their homes.
MSK disorders affect over 2 billion people worldwide, and they are one of the leading causes of chronic disability. Fortunately, many entrepreneurs are developing digital health solutions to help patients manage their symptoms. But the healthcare system’s response to this pain crisis has been expensive, unsustainable, and ultimately ineffective.
Sword Health’s solution lets patients recover at home without the cost of expensive surgeries. It combines novel hardware and software, allowing patients to wear motion sensors and track their progress in real time. In addition, the company has created a platform that works with both insurers and payors.
Since its founding in New York City in 2015, Sword has deployed its global solution to three continents. Today, the company has more than 120 employees in Porto, Portugal, and plans to expand into the United States.
The company’s model combines physician-directed care with artificial intelligence and clinical teams. Its digital therapist is FDA-listed, enabling members to have virtual therapy sessions at home. And the digital therapist’s feedback is delivered in real time.
Remitly
Remitly is a company that allows people to send money across borders. The Seattle-based startup has more than a million customers. Its app has received positive reviews on both iOS and Android stores.
Founded in 2011, Remitly focuses on digital remittance solutions. By removing the fees and hassles associated with traditional remittances, the company hopes to expand its customer base. With its streamlined interface, the company has a user-friendly experience. Rather than using agents or codes, customers can simply open a bank account with Remitly and send money.
In addition to sending money, Remitly is also a provider of other financial services. For instance, they have launched a new digital bank called Passbook. These products are designed to serve the needs of immigrant communities.
Remitly was founded by Matt Oppenheimer, who worked at Barclays Bank in Kenya. He recruited an engineer named Shivaas Gulati to help build the company. Today, the company boasts more than a thousand employees and serves more than three million customers. They are also looking to expand their digital offerings to better address the needs of a booming immigrant population.
One of the most interesting things about the company is that it has raised $1.5 billion so far. That’s a lot of funding for a startup, but Remitly isn’t the only one to have done so.
Personio
Personio is a European HR software company targeting small and medium-sized enterprises (SMEs). Its product is designed to help SMEs manage the people processes that are key to running a business. SMEs are a significant segment of the overall enterprise market, accounting for nearly 99% of all firms.
Personio launched in 2015 with a vision to build an HR operating system for SMEs. The startup’s platform provides all-in-one HR software for small and medium-sized businesses, including recruitment, onboarding, and absence management. This includes a single view of employees’ performance, payroll, and other functions.
Since its launch, Personio has a client base of over 500 companies in 35 countries. Among the biggest customers are NGOs, public sector organizations, executives, and tech companies. In addition to supporting on-boarding, salary management, and recruiting, Personio provides a central hub for all HR data.
In October, Personio completed its second pre-emptive Series E round. This round was led by Greenoaks Capital Partners. Additional investors included Rocket Internet’s Global Founders Capital and Meritech. Other funding came from Lightspeed Venture Partners, Index Ventures, and Northzone.
Personio aims to become Europe’s leading provider of human resources software for SMEs. While the company has not yet decided to go public, it has seen strong year-on-year growth.
