Over the last decade, the industrial landscape in Boston has witnessed tremendous change as it shifts toward a more tech-heavy orientation. A resilient economy and a large number of tech workers makes Boston the perfect place for tech startups to launch.
Tech giants such as Salesforce, Google, and Facebook have a strong presence in Boston. Other homegrown icons include Toast, Car Gurus, Draft Kings, and more. Some of the areas that spur growth include rapid urbanization and a young tech-savvy population. The Boston Indicators Report reports that the city of Boston has the largest concentration of young people between 20 to 34 years, making this city a hot spot for young entrepreneurs and investors alike. Want to know more about the Best Tech Startups in Boston? Use Benzinga’s list to inform your search.
- Top 10 Tech Startups in Boston
- #1. Best Insurance Startup: Corvus Insurance, founded 2016
- #2. Best Real Estate Startup: Hometap, founded 2017
- #3. Best Children’s DayCare Startup: NeighborSchools, founded 2018
- #4. Best Mental Healthcare Provider Startup: Marigold Health, founded 2016
- #5. Best Architectural Startup: AirWorks, founded 2017
- #6. Best Hospitality Startup: Bensen AI, founded 2018
- #7. Best Leadership Coaching Startup: Valor Performance, founded 2017
- #8. Best Refugees Startup: WorkAround, founded 2017
- #9. Best Social Network Startup: WEVO, founded 2017
- #10. Best Educational Startup: BookBub, founded 2012
- Boston: a Millennial x Tech Startup Haven
Top 10 Tech Startups in Boston
These are our picks for the best tech startups in Boston. We chose the top tech startups by looking at the problems they’re solving in their industries and for society at large. Success in funding, use of technology, innovation and other factors were all influencing factors as well.
#1. Best Insurance Startup: Corvus Insurance, founded 2016
A slow-evolving business sphere, the insurance industry is finally taking advantage of technology and innovation to improve their products. This trend is impacting data collection, risk identification, management, and mitigation.
Corvus Insurance allows insurance agents to analyze data and mitigate risks inherent to their customers. This cloud-based underwriting technology makes shared data storage easy. Insurance companies can access information with ease. This ability is vital to developing new products to match their clients' needs.
In March 2021, Corvus insurance raised $100 million under Series C Funding and another $750 million through valuation. This funding is enabling the business to expand the business and the cyber-insurance risk and develop a more robust AI platform.
#2. Best Real Estate Startup: Hometap, founded 2017
There’s a great need for a reliable and affordable route to homeownership in Boston and nationwide. Many who would normally turn to banks for mortgages are finding themselves looking for alternative resources.
Founded in 2017, Hometap offers an innovative solution to funding. The platform allows individuals to access money from cumulative equity by disposing a portion of the capital to the firm. This means that the company receives a certain ratio of the sale or the market price.
Hometap uses automation processes in the transaction and uses modern forecasting tools. The young population in Boston can take advantage of such an initiative and own homes early in their careers.
During the Series D Funding in 2019, the company raised $100M with a promise to help individuals to access home equity without borrowing.
#3. Best Children’s DayCare Startup: NeighborSchools, founded 2018
Like most working parents, Millennial parents often struggle to juggle parenthood and the rest of their lives. And the pandemic hasn’t made this any easier, with families scrambling to work distance learning into their schedules -- all while holding onto their jobs, spending quality time with their kids and finding childcare in absence of in-person school days.
Founded in 2018, NeighborSchools links parents and child educators. Parents can connect with a reliable educator who is nearby and within reach for convenience. And child educators can offer their services in areas of need.
In November 2019, the company raised $3.5 in seed capital with an assurance to bring affordable and high-quality child care to neighbourhoods.
#4. Best Mental Healthcare Provider Startup: Marigold Health, founded 2016
The use of opioids is a common problem in many parts of the world, and substance addiction is a major concern that necessitates medical attention. Therapy and support are critical interventions. There’s great need for reliable outpatient units to provide these services. Health professionals connect to their patients through constant communication, and group chats are common.
Founded in 2016, Marigold Health uses AI to treat patients suffering from substance abuse with support for their mental health. Marigold health provides a community platform for support and interaction to users as part of their therapy program.
The company received a $20,000 grant from the Mass Challenge in October 2020.
#5. Best Architectural Startup: AirWorks, founded 2017
The construction industry in Boston is one of the most active in the United States. This sector employs over 10,000 people, and construction is yet another industry affected by the disruptions in supply chains due to the COVID-19 pandemic, there’s a huge demand for construction.
Founded in 2017, AirWorks leverages technology to empower architects to design buildings with precision. Architects use computer software or CADs to apply the basic principles of physics in building designs. AirWorks also offers architects a database where users can get valuable information regarding designs.
In September 2020, the company raised $2,670,000 for seed capital for several investors such as Creative Ventures. In addition, AirWork won an Enterprise Decision Management Solutions contract alongside CORAS.
#6. Best Hospitality Startup: Bensen AI, founded 2018
Due to an increase in the working population in Boston, there’s a great demand for delivered food to get workers through their days. And the-always-busy American lifestyle continues to drive the demand for quick and easy food options.
Bensen AI connects restaurants and customers through an intelligent interphase that integrates voice platforms such as Siri, Alexa, and other software, allowing customers to order and restaurants to receive the order on their end.
Founded in 2018, Bensen AI raised $150,000 seed capital from Y Combinator in March 2019 and an undisclosed amount in August 2019.
#7. Best Leadership Coaching Startup: Valor Performance, founded 2017
Leadership coaching enables managers to motivate their team towards goal achievement. It heals, creates harmony in the workplace, and develops trust in a team. Coaching ensures there's improved engagement, boosting productivity.
Founded in 2017, Valor Performance offers a digital interface where managers and top executives can train and improve their performance. Here top leaders can receive tailored mentorship to suit their professionals and needs. The overall goal of the program is to enable managers to reach their gold medal potential. Managers can benefit from live video classes from coaches and gain skills.
The company benefited from undisclosed funding in 2017 from Eight Roads Ventures and Bulldog Innovation.
#8. Best Refugees Startup: WorkAround, founded 2017
Among many changes, the COVID-19 pandemic has changed how companies staff. A remote workforce is now as commonplace as an in-person staff. Some companies have even made the full shift to remote work, selling their physical offices and allowing their employees to work from anywhere. C
Founded in 2017, WorkAround uses AI technology to connect refugees globally with companies in need of a workforce. Not only does this connect companies with workers they may not usually have the chance to review for positions, it allows workers to earn income from wherever they are located. The company has raised money from several investors such as Falcon Network, Techstars, Angel and more with total funding estimated at $10,000.
#9. Best Social Network Startup: WEVO, founded 2017
Digital platforms receive billions of visitors every day. As such, making money from social media platforms through content creation is now a common career. This creates a great need for platforms that connect to an audience by identifying their needs and offering tailor-made solutions.
Founded in 2017, WEVO is a digital platform that enables users to customize their content by matching their criteria from several filters. This interface filters the crowdsource visitor and allocates scores. This allows you to optimize your content based on the statistics before going live. The company has raised $3.7M during the 2020 funding round from Mass Challenge.
#10. Best Educational Startup: BookBub, founded 2012
While there’s nothing like the physical copy, the advent of digital books means you no longer have to offload your read books to make space on your shelf for new ones.
BookBub is a digital startup that enables book lovers to digitally access books, whether reading for leisure, for work or for school. Their interphace offers real-time updates and even lets you interact with your favorite authors. Here, publishers and authors can promote their work to readers worldwide.
Founded in 2021, users can subscribe to the free service through the BookBub website. BookBub has a strong social media presence, and you can connect with their platform using your Facebook, Pinterest or Twitter account. BookBub has estimated total funding of $10.8M with a total of four investors. In 2019, the company opened an audiobook branch by partnering with Findaway.
Boston: a Millennial x Tech Startup Haven
If you’re a millennial, an entrepreneur or -- better yet -- both, Boston may be the place for you. This city boasts an impressive roster of tech startups turned tech success stories, with new companies popping up all the while.
If you’re looking to invest in startups, use this guide to the Best Tech Startups in Boston as well as other local and national rankings from us to inform your search.
Read also: BEST FINTECHS IN BOSTON, RANKED