This year's Next Billion-Dollar Startups list reflects the bright spots in a tough economy, notably healthcare by amyfeldman
Healthcare stands out with five companies, including Lyra Health , Benchling , Weave and Capsule , in addition to Trusted Health. Last year, by contrast, there were just two healthcare startups.
Capsule is actually the largest company on this year’s list, racking up some $100 million in revenue last year by helping New Yorkers order their prescription medications by text or app, with home delivery in a two-hour window. Founder Eric Kinariwala, 37, launched the company in 2016 after a bad experience waiting in line at his local Duane Reade drugstore to pick up antibiotics for a sinus infection.
While Capsule was a convenience before the coronavirus crisis, Kinariwala figures it’s now a must-have for those customers who worry about being exposed to the virus at a store and especially for those who are elderly, high-risk or currently in isolation. It plans to expand far beyond New York City, something it should have no trouble doing since it has raised $270 million so far, more funds than any other next-billion-dollar startup on this list.
Tech companies often dominate the lineup, and all of the companies on this year’s list have some technological component to them. Algolia , Superhuman and Tray.io are among this year’s 25. So, too, are 3 cybersecurity firms: Coalition, Expanse and Signal Sciences. But the list’s diversity reflects how technology is being incorporated into startups across industries, including ones that are helping people through this difficult time like credit card consolidation app Tally and at-home fitness company Mirror.
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