The 40 Best Startups in Minneapolis, You Need To Know!

: June 08, 2019

Best 40 Startups in Minneapolis, Minnesota, That You Should Know About!

 

 

 

 

Minneapolis, the largest city in the state of Minnesota, the 14th-largest metropolitan area in the U.S. The city is certainly a hotbed for entrepreneurs and has incubated a great number of startups that are globally well familiar. Needless to say it's the home of industry giants like Target, Best Buy, Pillsbury and General Mills.

 

The Minneapolis startup ecosystem has worked its way into becoming one of America's top city for startups. The city has made a mark across all industries, but particularly in the healthcare/digital health space, which include ABILITY Network, a health-tech startup that was acquired by Inovalon for $1.2B on Mar 7, 2018, Torax Medical, a med-tech startup, who had raised over a $100M before being acquired by ETHICON on Feb 17, 2017.

 

 

 

Here Is a List of The 40 Best Startups Based in Minneapolis:

 

1. Bright Health:

A health insurance company that offers health plans, an integrated technology experience, and provides health systems economic rewards for practicing efficient, high-quality healthcare. Bright Health partners with health systems and care partners to provide health plans and a connected healthcare experience to support relationships between consumers and care providers.

Year Founded: 2015

Specialities: Health Care, Insurance, Health Tech, InsurTech, Health Insurance, FinTech

 

Total Funding: $440M in 3 Funding Rounds (Last Funding Type: Series C)

Investors: Bessemer Venture Partners, Meritech Capital Partners, Greycroft, Redpoint etc.

 

2. Sezzle:

An alternative payment platform that increases sales and basket sizes by enabling interest-free installment plans at online stores. Sezzle automates the remaining payments through whichever payment method you have on file, with text and email reminders before each payment is processed.

Year Founded: 2016

Specialities: FinTech, Financial Services, Payments, Mobile Payments, E-Commerce, Retail, Consumer Credit

 

Total Funding: $116.6M in 4 Funding Rounds (Last Funding Type: Venture- Series Unknown)

Investors: Bastion Capital Corporation, E-Merge, Daren Cotter, & CSC Upshot.

 

3. Code42: 

A software company that provides cloud endpoint data protection and security solutions to business customers and organizations that include recognized brands in business and education. Code42 is the leader in data loss protection, visibility and recovery solutions. 

Year Founded: 2001

Specialities: Cybersecurity, SaaS, Data Forensics, Data Security, Information Governance, Data Compliance, Incident Response, Digital Forensics

 

Total Funding: $137.5M in 3 Funding Rounds (Last Funding Type: Secondary Market)

Investors: Accel Partners, JMI Equity, NEA, Split Rock Partners etc.

 

4. Bind:

A healthcare startup aimed at providing "on-demand health insurance" for consumers to pay for the coverage plan they want. Bind offers consumers only the coverage they need, when they need it, without narrowing their network.

Year Founded: 2016

Specialities: Health Care, Insurance, Health Insurance, Health Plans, Health Tech, InsurTech

 

Total Funding: $72.5M in 3 Funding Rounds (Last Funding Type: Series A)

Investors: Lemhi Ventures, UnitedHealthcare, & Ascension Ventures.

 

5. Nuvaira:

A privately held medical device company that develops minimally invasive products to make breathing easier for patients suffering from obstructive lung diseases. Nuvaira offers a Lung Denervation System to address chronic obstructive pulmonary diseases by treating overactive airway nerves during a minimally invasive procedure that targets the parasympathetic innervation of the lungs.

Year Founded: 2008

Specialities: Biotech, Lung Denervation, Health Care, Health Tech, Information Technology, Medical Device

 

Total Funding: $147.6M in 7 Funding Rounds (Last Funding Type: Series E)

Investors: U.S. Venture Partners (USVP), Vertex Ventures, Vertex Ventures HC, Advanced Technology Ventures etc.

 

6. Gravie:

A health insurance marketplace that provides individually-tailored recommendations to individuals who are in the process of purchasing health insurance. Gravie offers health plans both on the federal and state health exchanges and off-exchange in the private, individual market, and is an alternative to group health coverage for businesses.

Year Founded: 2013

Specialities: Health Care, Health Insurance, Hospital, Health Tech, InsurTech, Employee Benefits, Credits

 

Total Funding: $44.1M in 6 Funding Rounds (Last Funnding Type: Venture- Series Unknown)

Investors: GE Ventures, FirstMark, Split Rock Partners, Aberdare Ventures etc.

 

7. Inspectorio:

Inspectorio is a leader in the inspection software industry. It is one of the fastest growing inspection and compliance verification platforms in the industry. Inspectorio's cloud based platforms are disrupting quality inspections by increasing productivity, transparency and efficiency.

Year Founded: 2015

Specialities: Information Technology, SaaS, Quality Control, Quality Assurance, Supplier Compliance, Apparel, Retail, AI, ML, Algorithms, Cognitive computing

 

Total Funding: $13.7M in 2 Funding Rounds (Last Funding Type: Series A)

Investors: Techstars, Roundel, Ecolab, Machstick Ventures etc.

 

8. NovuHealth:

A healthcare consumer engagement company, driven to improve consumer health and health plan performance. NovuHealth motivates consumers to complete high-value healthcare activities by leveraging its sophisticated engagement platform, proven loyalty and behavioral science strategies, and deep industry and regulatory expertise.

Year Founded: 2010

Specialities: Health Care, Wellness, Health Tech, Behavioural Science, SaaS, Medicare, MedTech, Risk Adjustment

 

Total Funding: $20M in 1 Funding Round (Funding Type: Private Equity)

Investors: SSM Partners & Noro-Moseley Partner

 

9. Leadpages:

A digital lead generation platform that enables entrepreneurs and marketers to easily publish web pages, confidently generate leads, and consistently transform clicks into customers. Leadpages helps small businesses connect with an audience, collect leads, and close sales. Easily build websites, landing pages, pop-ups, alert bars, and beyond.

Year Founded: 2012

Specialities: Marketing, SaaS, Lead Generation, Cloud Computing, Web Apps, Website Builder

 

Total Funding: $38M in 3 Funding Rounds (Last Funding Type: Series B)

Investors: Foundry Group, Arthur Ventures, Drive Capital

 

10. CVRx:

CVRx is a medical device company that develops implantable technology for the treatment of high blood pressure/hypertension and heart failure. CVRx® pioneers unique therapies that harness and harmonize the body's natural systems, benefiting society and making CVRx® a universal role model in healthcare. Its vision is to advance health for people everywhere, giving each patient a fuller life.

Year Founded: 2001

Specialities: Biotech, Health Diagnostics, Medical, Medical Device, MedTech

 

Total Funding: $351.8M in 9 Funding Rounds (Last Funding Type: Private Equity Round)

Investors: Johnson & Johnson Development Corporation, Oxford Finance LLC, New Enterprise Associates, Silicon Valley Bank, Ysios Capital

 

11. Sentera:

A leading designer and manufacturer of drone, sensor, interpretive software and data management. The company brings meaning and organization to data and images. Sentera is connecting the agriculture, mining, infrastructure, inspection and public safety industries to revolutionary solutions which not only capture big data, but manage it and empower individuals and businesses to make data-driven decisions.

Year Founded: 2014

Specialities: Aerospace, Drones, Robotics, AgTech, Sensors, AI, ML, Big Data, Analytics, Image Technology

 

Total Funding: $22.5M in 2 Funding Rounds (Last Funding Type: Series A)

Investors: Middleland Capital, S2G Ventures, & Continental Grain Company

 

12. Field Nation: 

An online marketplace that enables businesses to find and manage their contingent workforce. Field Nation is the complete Field Service Marketplace and Project Management solution that connects businesses and contingent workers. It enables companies to find, hire and pay service technicians when - and where - there is work to be done. Field Nation serves as a catalyst for growth and ensures.

Year Founded: 2008

Specialities: Marketplace, SaaS, Software, Field Service, Reporting, Project Management, Contingent Labor

 

Total Funding: $30.2M in 2 Funding Rounds (Last Funding Type: Venture- Series Unknown)

Investors: NA

 

13. StemoniX:

StemoniX is a biotech startup that develop and scalably manufactures human induced pluripotent stem (iPS) cell-derived cardiac and neural platforms for drug discovery and development. Predictive, accurate, and consistent, our human models enable scientists to quickly and economically conduct research with improved outcomes in a simplified workflow.

Year Founded: 2014

Specialities: Biotech, Health Diagnostics, Human iPS Cells, Stem Cells, Cardiomyocytes, Neurons, Medical

 

Total Funding: $26.1M in 6 Funding Rounds (Last Funding Type: Series B)

Investors: Brightstone Venture Capital, Mayo Clinic, Keshif Ventures, Alumni Ventures Group etc.

 

14. Equals 3: 

Equals 3 is an IBM Watson partner developing solutions for marketers leveraging IBM Watson's Cognitive Computing. Equals 3's AI-Powered knowledge management democratizes enterprise data for quick insights, works through a simple natural language interface, delivers answer units vs. list of search results and unlocks dark data & retains legacy knowledge.

Year Founded: 2015

Specialities: Customer Service, Digital Media, Market Research, AI, ML, BI, Cognitive Computing, Algorithms, AdTech, SaaS, Cloud Computing

 

Total Funding: $7M in 2 Funding Rounds (Last Funding Type: Series A)

Investors: NA

 

15. ClickSWITCH:

ClickSWITCH is an automated account holder acquisition technology for financial institutions and FinTechs that simplifies the process of bringing new depositors onboard by quickly, safely and efficiently switching their direct deposits and recurring payments from their old accounts to new ones.

Year Founded: 2014

Specialities: B2B, Banking, Financial Services, FinTech, Account Transfers, Payments, SaaS

 

Total Funding: $17.1M in 3 Funding Rounds (Last Funding Type: Series B)

Investors: Point72 Ventures, Commerce Ventures, Daniel Cohen, Peter Kight & Betsy Cohen

 

16. Sansoro Health: 

A healthcare information technology company that provides integration software for electronic medical record (EMR) platforms. Sansoro Health solves health care IT’s most pressing challenge today – achieving secure, seamless data exchange between electronic health records (EHRs) and leading-edge administrative and clinical applications.

Year Founded: 2014

 Specialities: Health Care, Data Integration, Health Tech, SaaS, APIs, EMR

 

Total Funding: $14.4M in 3 Funding Rounds (Last Funding Type: Series B)

Investors: Bain Capital Ventures, Healthy Ventures, LRVHealth & TreeHouse Health

 

17. OneOme: 

A platform for pharmacogenomics that analyzes multiple genes for accurate and comprehensive prescription recommendations. OneOme analyzes patient DNA via the most complex multi-gene algorithm in the marketplace. Working with physicians and health care providers, they minimize errors and failures and advance efficacy and safety.

Year Founded: 2014

Specialities: Biotech, Health Care, Pharmaceutical, Pharmacogenomics, Genetics, Life Sciences, Health Tech, Pain Management

 

Total Funding: $6.4M in 3 Funding Rounds (Last Funding Type: Debt Financing)

Investors: NA

 

18. Foodsby: 

A network of premier office buildings and restaurants, making lunch easy and convenient for business professionals. Foodsby creates a simple online exchange that aggregates the countless hungry office workers that restaurants have never been able to reach efficiently, and gives them access to local eateries than they've ever had before.

Year Founded: 2012

Specialities: Delivery, Hospitality, Internet, Restaurants, Food Ordering

 

Total Funding: $20.4M in 3 Funding Rounds (Last Funding Type: Series B)

Investors: Greycroft, Corazon Capital, Rally Ventures, Piper Jaffray Merchant Banking etc.

 

19. Urotronic:

An early stage medical device company that is developing drug/device combination products. Urotronic's mission is to develop revolutionary technologies that will transform the urology market through better patient outcomes that are uniquely positioned for today's healthcare environment.

Year Founded: 2015

Specialities: Health Care, Hospital, Medical Device, Urology

 

Total Funding: $30.1M in 3 Funding Rounds (Last Funding Type: Venture- Series Unknown)

Investors: Hillhouse Capital Group and CD Capital

 

20. Zipnosis:

Zipnosis is a leading virtual care software company that offers a profoundly simple platform to treat and triage patients for common health conditions. Its platform pairs traditional telemedicine with next-generation online virtual care tools to drive exceptional clinical quality, significant clinical efficiency and durable financial returns.

Year Founded: 2008

Specialities: Health Care, Health Tech, SaaS, Information Technology, Telehealth, Virtual Care, Medical, MedTech

 

Total Funding: $24.8M in 5 Funding Rounds (Last Funding Type: Series B)

Investors: Safeguard Scientifics, Arthur Ventures, Fairview Health Services, Ascension Ventures etc.

 

21. Upsie: 

An insurtech startup that develops a mobile application that helps consumers buy extended warranties of consumer durables and electronic goods. Upsie reinvents the warranty experience, so you can protect the products you love at prices you can afford.

Year Founded: 2015

Specialities: Insurance, Apps, Mobile, Security, InsurTech, Consumer Goods

 

Total Funding: $8.2M in 4 Funding Rounds (Last Funding Type: Series A)

Investors: Matchstick Ventures, Syndicate Fund, M25 etc.

 

22. When I Work:

When I Work is a cloud-based employee scheduling solution that helps organizations track time and attendance, create and edit employee schedules, add new jobs to the calendar, review timesheets and fill shifts. When I Work's program provides a powerful tool for employers to communicate with employees and ensure schedules are properly communicated.

Year Founded: 2010

Specialities: Apps, Messaging, Mobile, Social Media, SaaS, Employee Scheduling, Timesheets

 

Total Funding: $24M in 3 Funding Rounds (Last Funding Type: Series B)

Investors: Arthur Ventures, Drive Capital, e.ventures, Greycroft and High Alpha

 

23. Carrot Health:

A leading provider of consumer data-driven insights that engage populations, improve health, and optimize performance. Carrot Health specializes in healthcare business intelligence software for health systems and payers.

Year Founded: 2014

Specialities: Consumer, Health Care, Health Tech, SaaS, Analytics, Predictive Modelling, Behavioral Science

 

Total Funding: $25M in 1 Funding Round (Funding Type: Series A)

Investors: JJDC, New York Life Ventures, Khosla Ventures, Marc Benioff, R7 Partners and Carrot founder David Utley.

 

24. Atavium:

A data storage startup that designs and develops a data management platform that organizes, automates, manages, and stores unstructured data sets. Atavium has unleashed the first data storage solution with integrated user-defined insights & automation, giving organizations unparalleled control over their assets. It delivers a platform that creates a competitive edge by unlocking the business value of your data. 

Year Founded: 2016

Specialities: Cloud Storage, Data Center, Data Management, SaaS, Enterprise Software, APIs, Automation, Analytics, Data Security, Risk Intelligence

 

Total Funding: $8.7M in 1 Funding Round (Funding Type: Series- A)

Investors: Rally Ventures, Grotech Ventures, Correlation Ventures, Brightstone Venture Capital etc.

 

25. Insite Software:

A leading provider of B2B eCommerce architected for enterprise organizations in manufacturing, distribution and retail. Insite Software deliver a unified best-in-class user experience for customers, channel partners, direct field sales and customer service reps across the enterprise.

Year Founded: 2004

Specialities: B2B, E-Commerce, SaaS, Analytics, Digital Transformation, Cloud Computing, Data Sheets, CRM, CMS, Content Management, Payments

 

Total Funding: $18.3M in 2 Funding Rounds (Last Funding Type: Venture- Series Unknown)

Investors: Volition Capital

 

26. Kipsu: 

A software-based solution designed to revolutionize how service-driven brands interact with consumers. Kipsu allows service leaders to leverage texting and other digital conversation channels to deepen their customer relationships in a way never achieved before.

Year Founded: 2010

Specialities: B2B, Enterprise Software, Messaging, SaaS, Digital Channel, Hospitality, Shopping

 

Total Funding: $1.4M in a Single Funding Round (Funding Type: Unknown)

Investors: NA

 

27. Apruve:

A B2B credit network that enables manufacturers, wholesalers and distributors to extend risk-free revolving lines of credit to their buyers in order to drive B2B sales. Apruve allows BigCommerce merchants to extend net terms to their business buyers while getting paid in 24 hours without any manual tasks.

Year Founded: 2012

Specialities: B2B, E-Commerce, Payments, Financial Services, Credits

 

Total Funding: $9.5M in 3 Funding Rounds (Last Funding Type: Series A)

Investors: TTV Capital, Allegis Capital, MATCHSTICK etc.

 

28. OptiMine: 

OptiMine Software is a leader in cloud-based cross-channel marketing analytics and optimization that helps marketers grow their businesses and achieve significant ROI lift from their ad spend. The company develops cloud-based omni-channel marketing analytics and optimization solutions for marketers.mance.

Year Founded: 2008

Specialities: Advertising, Digital Advertising, Digital Media, AdTch, ROI, SaaS, Cloud Computing, Analytics

 

Total Funding: $16.8M in 5 Funding Rounds (Last Funding Type: Debt Financing)

Investors: HWVP, Hummer Winblad Venture Partners, Calumet Venture Fund, Zetta Venture Partners, Omphalos Venture Partners etc.

 

29. Amphora Medical: 

A privately held bladder fulguration company developing minimally invasive products to restore the quality of life of people suffering from bladder dysfunction syndromes. Amphora Medical developes and manufactures medical devices to treat overactive bladder (OAB).

Year Founded: 2011

Specialities: Biotech, Manufacturing, Medical Device, MedTech

 

Total Funding: $48.9M in 4 Funding Rounds (Last Funding Type: Series B)

Investors: Boston Scientific, Baird Capital, Eight Roads Ventures, Longitude Capital etc.

 

30. Niron Magnetics: 

A nanotechnology that develops technology to make permanent magnets for use in motors and generators. Niron Magnetics is developing the world’s first advanced manufacturing process for the mass production of permanent magnets powered by our breakthrough material formulation.

Year Founded: 2014

Specialities: Nanotech, Automotive, Energy, Information Technology, Manufacturing

 

Total Funding: $12.8M in 3 Funding Rounds (Last Funding Type: Series B)

Investors: Artiman Ventures, Anzu Partners & University of Minnesota

 

31. Revel Health:

A healthcare technology company that is reinventing health engagement to make it better through its industry leading health action platform. Revel helps healthcare organizations connect with members and patients in a personalized way to build better healthcare consumer experiences, drive positive health action, and improve health outcomes.

Year Founded: 2006

Specialities: Fitness, Health Care, SaaS, Wellness, Health Tech, AI

 

Total Funding: $17M in 1 Funding Round (Funding Type: Private Equity)

Investors: TT Capital Partners

 

32. Flywheel:

A data management and analysis platform built specifically for scientists and the researcher's workflow. Flywheel empowers research momentum by focusing on data and medical image capture, content management, scientific computation, and collaboration.

Year Founded: 2012

Specialities: Cloud Data Services, Cloud Management, SaaS, Medical Imaging, Clinical Research, Life Sciences, ML, Data Privacy, Data Governance

 

Total Funding: $6M in 1 Funding Round (Funding Type: Series A)

Investors: NA

 

33. Exosite: 

Exosite is an Internet of Things software as a service company that develops software for companies that view and analyze data collected from sensors built into physical objects. Exosite is a mix of IoT-obsessed experts who provide enterprise IoT solutions, powered by our platform, to accelerate your success.

Year Founded: 2009

Specialities: IoT, Analytics, SaaS, Data Monitoring, Sensors, Home Automation, Security Intelligence, Data Integration

 

Total Funding: $725.4K in 3 Funding Rounds (Last Funding Type: Debt Financing)

Investors: NA

 

34. Prevent Biometrics: 

Prevent Biometrics is a sports-tech startup that creates a concussion-monitoring mouthguard. The Prevent system accurately measures head impacts in real-time, giving coaches and trainers the information they need to make sports safer.

Year Founded: 2015

Specialities: Fitness, Health Care, Sporting Goods, Wearable Technology

 

Total Funding: $4.1M in 2 Funding Rounds (Last Funding Type: Series B)

Investors: NA

 

35. Realvision: 

An immersive media technology company that builds 3D media solutions for the real estate industry. Realvision develops a platform that provides photographers VR-ready virtual tours with DSLR cameras.

Year Founded: 2013

Specialities: 3D Media, Photography, Real Estate, VR, PropTech

 

Total Funding: $1.5M in 1 Funding Round (Funding Type: Seed- Series Unknown)

Investors: Dundee Venture Capital, Brightstone Venture Capital, Stout Street Capital, Lakewest Venture Partners etc.

 

36. Engage: 

Engage is a website tool that helps you meet and sell to visitors and customers instantly. Engage serves many different industries. The one thing they all share in common is that relationships with prospects and customers is paramount.

Year Founded: 2015

Specialities: Collaboration, Consumer Electronics, Developer Tools, Enterprise Software, Identity Management, Messaging, SaaS, Software, Video

 

Total Funding: $5.4M in 5 Funding Rounds (Last Funding Type: Venture- Series Unknown)

Investors: NA

 

37. Kidizen: 

Kidizen is a parent-to-parent marketplace where you can find deals on unique kids' clothes, shoes, accessories, toys, books, nursery and room decor, and more.

Year Founded: 2014

Specialities: Communities, E-Commerce, Shopping, Internet, Fashion, P2P, Clothings, Retail

 

Total Funding: $5.1M in 8 Funding Rounds (Last Funding Type: Series A)

Investors: Origin Ventures, Corigin Ventures, IrishAngels, Royal Street Ventures, Gopher Angels etc.

 

38. SynerFuse: 

A provider of traditional spine implants intended to offer long-term pain management without the use of addictive opioids. SynerFuse designs and manufactures spinal fusion devices for Lower back pain.

Year Founded: 2015

Specialities: Medicine, Medical Devices, MedTech, Therapeutics

 

Total Funding: $2.6M in 1 Funding Round (Funding Type: Venture- Series Unknown)

Investors: NA

 

39. Imbio: 

A medical imaging software company that develops diagnostic medical imaging software for researchers and clinicians. Imbio turns medical images into life changing insights, with emphasis on big data and computer imaging, they are making exceptional personalized medicine attainable.

Year Founded: 2012

Specialities: Biotech, Medicine, Medical Device, Medical Imaging, MedTech, SaaS, Automation, 3D Technology, Big Data, Analytics

 

Total Funding: $4.1M in 3 Funding Rounds (Last Funding Type: Series A)

Investors: Invenshure, Minneapolis, Minnesota based investment firm.

 

40. HabitAware: 

HabitAware is a wearable tech company dedicated to helping people leverage tech for positive behavior change. HabitAware manufactures and distributes wearable devices that assists its users with minimizing trichotillomania.

Year Founded: 2014

Specialities: Health Care, Wearables, Consumer Electronics, Medical Device

 

Total Funding: $560K in 4 Funding Rounds (Last Funding Type: Grant)

Investors: Institute of Mental Health, SOSV, Backstage Capital and HAX

 

 

Notable acquisitions for Minneapolis based startup:

 

 

Jamf:

A comprehensive enterprise management software for the Apple platform. Jamf was acquired by Vista Equity Partners in November 2017 for an undisclosed amount.

 

RedBrick Health:

A health technology and services company, acquired by Marlin Equity Partners on May 22, 2018.

 

ABILITY Network:

A leading information technology company helping healthcare providers and payers simplify administrative and clinical complexity. Inovalon bought ABILITY Network on Mar 7, 2018 for a mammoth $1.2B.

 

There are other Minneapolis based startup such as SportsEngine, Bloom Health, Bite Squad, Segetis etc. who were also being acquired for a big money.