Funding has become much easier for companies in recent years. This increase in mid to large sizes funding has equipped tech startups with plenty of resources that are required to help them grow and scale their technology.
However, there is a massive challenge for the young tech companies to deliver quality products and find a way to go past the vendor market with all its noise and show the customers that they are capable of providing value
It is already becoming common practice for large vendors such as Google, Amazon, Microsoft, and the more-consumer-oriented Apple and Facebook to acquire tech startups with huge potentials. The idea is usually to obtain the best talents and boost the existing capabilities of the startup’s products. This is often a regular occurrence with AI startups and is fast becoming the ultimate way for these firms to grow.
A significant challenge to the startup’s long-term sustainability is the ability to get the talent that it needs. Tech workers are currently in high demand, and the competition is stiff among many companies. Take, for instance, the cybersecurity field. There is so much demand for workers in this field that vacancies continue to grow, while there’s near-universal employment for all.
Amidst the many possible challenges, the number of tech startups continues to increase, and we can say that access to funds has played a significant role in this. However, some of these startups are beginning to stand out from the rest with their quality products and meteoric rise. There are going to be many more of these startups in 2020. According to numerous essay writing reviews, the following cutting edge technology startups are worth keeping an eye upon in 2020.
Front
The founders of this startup, CEO Mathilde Collin and CTO Laurent Perrin, both of French nationality founded this startup after it came through the famous Silicon Valley startup accelerator. Front seems to focus on customer applications rather than enterprise software, which has led to them being compared to Slack.
The Front app is appropriate for teams sharing an email inbox and is handier for PR and sales teams and customer support. Emails can be dedicated to a particular member, and the team can increase their response speed by working together in one shared space.
This company was able to raise $59 million from funds earlier in the year from other tech founders and enthusiasts. They are now looking at transforming the email experience of office workers.
Snyk
If there are just two words that investors love to hear, it has to be open source and security. Snyk combines both, and since its founding in the year 2015 in London, its total valuation has now reached $1 billion.
It was developed by software engineers to help other developers’ spot areas of vulnerability in their open-source code.
In January 2020, Snyk was able to raise an investment of $150 million led by Stripes. This also included other investments from Accel and Salesforce Ventures, which took the total to $250 million.
Cohesity
Cohesity has a high potential to be a top tech company, and as a startup, it’s already considered a hot enterprise. Undoubtedly, a tag like this is due to many factors, which include owning a unique technology, being founded by one of the cofounders of Nutanix (a public software company), and funding of $250 million from SoftBank’s vision fund.
This startup has also now developed a cost-effective way for organizations to store their secondary data – analytics data, files, backups, etc. All of which are monitored with quick and straightforward recovery options.
In April 2020, Cohesity raised a fund of $250 million for Series E round of funding which took their total investment to around $650 million. This startup is headed straight for the top, says Jake Rudy, an essay writer at a dissertation service that provides assignment help in Melbourne.
Snowflake
Since 2014, after coming out of stealth, it has mover more quickly and has made a claim to build a relational data warehouse for the cloud correctly, which is the first of its kind. This startup has an aim to replace the first-generation cloud data warehouse so that it’s closer to providing real-time analytics.
In February 2020, Snowflake raised almost $500 million funds, with Dragoneer Investment Group taking the lead and following by Salesforce Ventures. This increased the value of the company to $12.7 billion. The investment from Salesforce Investment includes a partnership announcement meant to cover go-to-market strategy and cover product marketing.
TripActions
TripActions was founded in 2015 and sought to be like Kayak or Expedia for corporate travels. This startup gives business organizations a platform for their employees to search for and book their trips with the managers setting the thresholds for hotel type or travel class. It also gives an Amazon gift card for employees that book a cheap hotel and saves the company’s funds.
TripActions is a startup based in Silicon Valley and so far has raised $482 million in funds, following a round of $250 in June 2019.
Tidelift
This startup was founded by four former employees of Red Hat that sought to solve the tricky problem of making money from software projects with open source. It is a subscription service that gives access to versions of entirely managed open-source software like Python, PHP, JavaScript, Ruby, and Java.
This allows businesses to use these services and not have to worry about maintenance and security patching. The subscriptions begin at $1500 monthly for around 25 developers.
So far, it has raised funds of $40 million from Matthew Szulik, the CEO and Chairman of Red Hat, and others such as Foundry Group and General Catalyst.
Funnel
Funnel is a software-as-a-service (SaaS) software from Sweden that specializing in tidying and marketing advertising and marketing data for clients, without regard for their residence, to have a better insight into their customers.
The software is priced based on tiers depending on your ad spend per month, beginning at £399 monthly. Some of their famous customers are Ubisoft, Samsung, and Skyscanner.
The Cofounder and CEO said, “proper preparation of data aids visualization in the business intelligence tools of existing businesses. Automating data collection and preparation is very hard to do, as we regularly hear from our customers, we can boldly say we are the best at it.”
The funnel was able to secure funds of $47 million in a Series B round of funding in January 2020.
Asana
This tech startup was founded in 2011 by Dustin Moskovitz and Justin Rosenstein, the cofounder of Facebook and Facebook engineers. This company builds collaboration software, which has become popular with its developer set.
The product is a Software-as-a-Service (SaaS) product built to help teams work together on projects. With other software such as Slack, Quip, and Trello (to say a few) around, this software is operating within a very competitive environment.
Early investors in this startup included Sean Parker and Peter Thiel, but after the funding of $50 million in November 2018, led by Generation Investment Management, it hit unicorn status.
Tessian
Tessian is a startup based in the UK and was formerly called CheckRecipient. This startup’s goal is to help organizations avoid or minimize the risks associated with missent email messages.
More than a million data points are analyzed by this platform across the email network of the organization using it. With this, it can detect behavioural patterns and surface emails that are misaddressed. Its machine learning algorithm can detect information the potentially sensitive email content and spot email addresses that are unusual. It then prompts the sender to recheck and reconfirm before sending it. There are currently over 70 law firms in Britain that are now using this platform for their email network protection and several other organizations such as Denton, Man Group, and Schroders.
This startup was able to raise a sum of £31.5 million in February 2019, in funding that Sequoia led along with previous investors such as Accel and Balderton Capital getting involved. To date, the total fund that has been raised is £44 million, and the monies have been marked for their global expansion, especially in the US market.
Conclusion
There are hundreds of tech startups rising every year with access to funds and the ability to raise more a crucial factor to their expansive growth and sustainability. Although not all of these startups were founded in the last five years, some were founded earlier than that but the growth rate has been different, and 2020 feels like they might finally get the recognition they deserve for their work. This article contains nine tech startups that have come to light and deserve to be watched in 2020.