Boston is an American city known for its sporting excellence, but it should also be noted that the city is home to one of the planet's premier startup ecosystems. Boston startups benefit from a range of factors that make it a heavily favourable environment to do business in. For example, there is a massive strength in talent with graduates from the world-renowned MIT and other local universities adding their skills to startups. The city's largest funding rounds of 2022 netted local startups a total of $3.1 Billion, highlighting the number of top startups in the city.
The ample of presence of VC firms in the city is one of the primary drivers for growth in startups in Boston. In fact, there are more than 400 VC firms that have interests in the city, highlighting the potential for funding. There is also a large amount of support for startups at the earliest stages, with a large number of accelerators helping budding startups to get out of the concept stage and into making a profit.
The local government is also heavily involved in promoting and building Boston's startup ecosystem, with numerous programs dedicated to the development and creation of new startups. One such example of this is the local government's own VC firm, MassVentures Venture Capital Investments which targets early-stage DeepTech businesses with investment and technical assistance.
1. Finch
Year Founded: 2019
HQ: Boston, Mass, USA
Size: 1-10
Founders: Jeremy Zhang, Ansel Parikh
Finch is a Boston startup that was founded in 2019 and operates in the FinTech market. The company offers its customers a better way to grow their portfolio by earning and investing cashback on all of their purchases. This makes starting out investing much easier for people that are new to it or don't have much initial capital. The team at Finch are helping to create more wealth for the average investor.
The team at Finch have done a good job of raising startup funding since founding the business, with the company raising a total of $3.6 Million in funding at the time of writing. This startup funding was achieved with the support of five investors- with more funding looking likely in the future.
2. FireCompass
Year Founded: 2019
HQ: Boston, Mass, USA
Size: 11-50
Founders: Barai Aash, Priyanka Aash
FireCompass is a startup in Boston that was founded in 2019 and works in the cybersecurity market. The company helps other businesses to mitigate the risks of an attack and better manage one if this happens. Their platform eliminates 99% of false positives- meaning all risks are taken seriously and daily monitoring and testing of cybersecurity readiness is conducted with access to the latest playbooks in an easy to access SaaS environment. They're currently trusted by Fortune 500 companies to manage their security.
The team at FireCompass have done a good job of raising startup funding, with the company's first and only round so far generating a total of $7 Million to fuel the growth of the company. This funding was made possible with the backing of three investors in that sole round of funding.
3. Starburst
Year Founded: 2017
HQ: Boston, Mass, USA
Size: 101-250
Founders: Justin Borgman, Anu Sudarsan, Dain Sundstrom, David Phillips
Starburst is a startup in Boston that was founded in 2017 and operates in the big data subsector of the market, providing an advanced analytics solution. The company provides its customers with a SQL Query Engine that allows better business decisions to be made through immediate access to an entire overview of the client's data, without needing to make copies or transfer data from place to place.
Starburst has raised a large amount of startup funding since being founded, which has allowed it to see rapid growth. In total, the business managed to raise $414 Million at the time of writing and has also used it to make an acquisition of its own. This funding was achieved with the support of eight investors.
4. BetterVet
Year Founded: 2020
HQ: Boston, Mass, USA
Size: 51-100
Founders: Bruce Herzfelder, Dr. John de Jong, Carolina Goncebat
BetterVet is a Boston startup that was founded in 2020 and operates in the veterinary care market. The company is making it easier for people to access vet care by offering mobile vet services around Boston. Some people don't have vehicles, or their animals hate travelling in them. BetterVet makes it better for the pet and for the owner. They have experienced rapid growth since being founded.
This startup has gone through a single round of startup funding since being founded, with this round taking the form of a Series A where it raised a total of $40 Million from three investors, including Alta Partners. The company is using this funding to expand its service offering to new areas and improve its operations.
5. Biofourmis
Year Founded: 2015
HQ: Boston, Mass, USA
Size: 101-250
Founders: Kuldeep Rajput
Biofourmis is a Boston startup that was founded in 2015 and works in the healthcare market. The startup is innovating care management through the provision of their virtual care management platform, which improves efficiency for care providers and leads to improved care outcomes. Through this software, hospital admissions can be reduced by up to 70% and clinical deterioration can be identified and predicted with 93% accuracy, making it a powerful tool for managing people's health.
The team at Biofourmis have been incredibly effective at raising external funding, with the business successfully raising a total of $463.3 Million in startup funding from a coalition of fifteen investors. This funding was achieved across several funding rounds and has driven the rapid growth of the startup.
6. Algorand
Year Founded: 2017
HQ: Boston, Mass, USA
Size: 51-100
Founders: Silvio Micali
Algorand is a startup in Boston that was founded in 2017 and operates within the blockchain market. They are driving the future mass adoption of blockchain technology by providing the underlying blockchain infrastructure at such a level where institutions can easily leverage it for its benefits. The end result is the world's most powerful blockchain and also one that is highly sustainable. The company has ongoing commitments to offsetting any of its emissions in an effort to improve the world.
Algorand has experienced massive success in terms of raising the funding it needs to succeed, with a grand total of $132 Million in startup funding raised from a group of twenty-two investors. These investors pledged this funding across eight rounds of funding since 2017.
7. Asimov
Year Founded: 2017
HQ: Boston, Mass, USA
Size: 11-50
Founders: Alec Nielsen, Raja Srinivas, Christopher Voigt, Doug Densmore
Asimov is a Boston startup that was founded in 2017 and operates within the biotechnology market. The company provides researchers with the software tools that they need to facilitate advanced genetic design, to improve the programmability of living cells. Their offering helps scientists to effectively hasten their research and empower the next stages of discovery in the field of genetics.
Investors have seen a lot of potential in the research software created by Asimov and as a result of this, the amount of startup funding the company has received has been huge. In total, the company has raised a figure of $205 Million in funding from nine investors, across several funding rounds.
8. Robin
Year Founded: 2014
HQ: Boston, Mass, USA
Size: 101-250
Founders: Sam Dunn, Zach Dunn, Brian Muse
Robin is a startup in Boston that was founded in 2014 and has developed a SaaS platform to improve the workplace experience for both employers and employees. It helps to facilitate a better hybrid working experience for businesses, with capabilities for things like booking meeting rooms on an adhoc basis, managing office resources and understanding them better to prevent waste. They are powering the future of remote and hybrid working by bringing a better structure.
The team at Robin have done a great job of raising startup funding since founding the company, with a total of $59.1 Million at the time of writing. This funding was achieved with the support of twelve investors across several funding rounds.
9. Codametrix
Year Founded: 2019
HQ: Boston, Mass, USA
Size: 51-100
Founders: Hamid Tabatabaei
Codametrix is a startup in Boston that was founded in 2019 and operates within the software space for the healthcare industry. They have developed a platform to help developers with autonomous coding decision support to assist them with handling more complex manual tasks. This boosts their efficiency and also helps to eliminate potential mistakes- their specialist areas for implementation are radiology, pathology, inpatient professionals and GI special procedures.
Codametrix has done a great job of enticing investors to back it with funding since being founded. In nearly four years, the company has managed to raise a total of $55 Million from six investors. This funding all came from a single funding round, with further funding in the future looking likely.
10. ZOE
Year Founded: 2017
HQ: Boston, Mass USA
Size: 101-250
Founders: Jonathan Wolf, George Hadjigeorgiou, Tim Spector
Zoe is a Boston startup that was founded in 2017 and operates within the health and wellness market. The team have created a solution that helps customers to get hyper-personalised nutrition programs from the world's largest studies. Customers are able to get help with tracking the health of their gut microbiomes, blood fats and blood sugar. They're helping to empower people with the knowledge to make the right choices so they can improve their health.
Investors have found a lot to be pleased about when looking at Zoe, with the company managing to raise a total of $77 Million in startup funding since being founded. This funding was achieved through the help of ten investors across multiple rounds of startup funding.
11. Hourwork
Year Founded: 2017
HQ: Boston, Mass, USA
Size: 11-50
Founders: Rakheem Morris
HourWork is a startup in Boston that was founded in 2017 and operates within the HR market. The team has created an online solution that helps businesses to get rapid access to hourly retention and recruiting of employees. This is perfect for businesses that are commonly understaffed and need quick support to fill shifts and also helps them to keep the staff that they already have, which is critical to maintaining and knowledgeable and skilled workforce.
The team at HourWork has done a great job of convincing investors to back their project, with the business raking in a total of $16.3 Million in startup funding since being founded in 2017. This funding was divided among the group of ten investors that backed the mission of the company.
12. Electra Vehicles
Year Founded: 2015
HQ: Boston, Mass, USA
Size: 11-50
Founders: Fabrizio Martini
Electra Vehicles is a Boston startup that was founded in 2015 and as the name suggests, operates in the EV market. The company aims to help drive the rapid adoption of electric vehicles through the use of their intelligent battery pack algorithms for improved battery packs. They help companies to improve the design of their battery packs through testing and simulations, adaptive controls for onboard software and analytics tools for the performance of battery packs across whole fleets.
Electra Vehicles has raised a very respectable level of startup funding since being founded in 2015. In that time, the business has managed to raise a total of $25.4 Million in funding, with the support of seven investors to thank for this. This funding was achieved across a number of funding rounds.
13. Ensoma
Year Founded: 2019
HQ: Boston, Mass, USA
Size: 51-100
Founders: Andre Lieber, Hans Peter Kiem
Ensoma is a Boston startup that was founded in 2019 and operates in the medical sector. The company is taking great strides towards research that can eliminate a number of diseases and save lives. They develop single-use treatments that engineer cells within the hematopoietic system to cure diseases from within. Their treatments have scope to improve care outcomes for patients with certain cancers and for those with autoimmune diseases, along with inherited conditions.
Investors have had a lot of excitement about the potential of Ensoma's research and the level of funding it has received reflects this. Since being founded, the company has managed to raise a total of $155 Million in funding and has partly used this funding to fuel its own acquisition of another startup.
14. BlockJoy
Year Founded: 2021
HQ: Boston, Mass, USA
Size: 1-10
Founders: Chris Bruce
BlockJoy is a Boston startup that was founded in 2021 and operates in the blockchain market. The company is helping businesses to create the future of blockchain technology by providing node infrastructure for a range of cryptocurrency businesses. Some examples of companies working with BlockJoy are industry giants like Binance, Crypto.com, Helium and Novo. The drive to web 3.0 is massively ramping up and BlockJoy is one of the companies leading the way for it.
The team at BlockJoy have done a great job of raising funding for their startup to help it reach the next level. This is evidenced by the fact that the company has managed to raise a total of $13.1 Million in startup funding, with this funding coming from the support of eight investors across multiple rounds.
15. Appcues
Year Founded: 2013
HQ: Boston, Mass, USA
Size: 101-250
Founders: Jonathan Kim, Jackson Noel
Appcues is a startup in Boston that was founded in 2013 and operates a SaaS platform for those in product management. Companies using the platform are able to create and tailor onboarding experiences for customers in a matter of minutes. Companies are also able to test their onboarding experiences before distributing them. This helps to improve overall experiences for customers, which leads to improved profits for the businesses using the system.
Appcues has raised a large amount of funding since being founded in 2013. In total, at the time of writing the business has managed to raise a total of $52.8 Million in startup funding, across multiple rounds. This funding has come from the support of twenty investors that believe in the business.
16. Blues Wireless
Year Founded: 2018
HQ: Boston, Mass, USA
Size: 11-50
Founders: Ray Ozzie
Blues Wireless is a Boston startup that was founded in 2018 and operates within the internet and IoT sector. They help businesses to make their critical devices internet compatible with their out-of-the-box solutions that makes everything more secure and simple for the user of the service. Their solutions are easy to configure and make changes for faster device prototyping and product building.
The team at Blues Wireless have done a great job of raising funding for the business since 2018. At the time of writing, the company has managed to raise a total of $65 Million in funding across several funding rounds. The company managed to raise this finance with the support of nine investors.
17. Reprise
Year Founded: 2019
HQ: Boston, Mass, USA
Size: 101-250
Founders: Bryan Stevenson, Samuel Clemens
Reprise is a startup in Boston that was founded in 2019 and operates in the SaaS sphere. The company is helping product and sales teams with their platform that allows for the complete building of interactive demo experiences for customers. They offer increased customization options that can be enacted in real time and allows for a better customer experience, leading to an increase in conversions from demo use.
Reprise has been very successful in raising startup funding since being founded, with the startup raising a total of $82.2 Million in startup funding. This funding was achieved with the support of sixteen investors.
18. Aera Therapeutics
Year Founded: 2021
HQ: Boston, Mass, USA
Size: 51-100
Founders: Fen Zhang
Aera Therapeutics is a startup in Boston that was founded in 2021 and operates in the biotechnology field. The company aims to spearhead new research into genetic medicine to provide a new way of treating a variety of diseases. They fix the problems of traditional delivery methods for these types of treatments, which ultimately leads to improved care outcomes.
The team at this startup have been incredibly successful in raising startup funding, with the company managing to raise a total of $193 Million in less than three years. This funding was achieved through a single funding round that was supported by three investors.
19. OfferFit
Year Founded: 2020
HQ: Boston, Mass, USA
Size: 51-100
Founders: Victor Kostyuk, George Khachatryan
OfferFit is a Boston startup that was founded in 2020 and is currently based in the city of Boston. The company has created a platform that helps marketers and product teams to avoid the process of A/B testing. The platform is customized for every user and highlights the best processes for customers of that business. Some huge companies such as Engie and Wargaming.net currently trust the company to help them maximize their KPIs and get more profit.
OfferFit has raised a good amount of startup funding since being founded, with the company raising a total of $14 Million in funding from twelve investors. This funding has helped the business to rapidly expand its operations.
20. Rezonate
Year Founded: 2022
HQ: Boston, Mass, USA
Size: 11-50
Founders: Roy Akerman
Rezonate is a startup in Boston that was founded in 2022 and currently operates in the cloud security market. The company helps businesses to manage the security of their cloud infrastructure. The company consistently discovers, analyzes, profiles and protects every resource and identity within your cloud infrastructure. Their customers stay ahead of active threats and have a simple platform to do it from.
The team behind Rezonate have done a great job of raising startup funding, with the company raising a total of $8.7 Million in funding in less than a year. This funding was achieved with the support of four investors.
21. Miach Orthopaedics
Year Founded: 2016
HQ: Boston, Mass, USA
Size: 1-10
Founders: Martha Murray
Miach Orthopaedics is a startup in Boston that was founded in 2016 and is currently based in the city. The company is at the forefront of treatments to knee injuries through the provision of ACL implants that rapidly speed up the healing process. Their options differ as they promote the natural healing of the ACL through their implants, bridging the torn connection. This is different to current procedures that just replace the ACL with other tissue outright.
The groundbreaking treatments offered by the company have gained it a lot of attention from investors. Since being founded, the company has managed to raise a total of $62.5 Million in startup funding. This funding was achieved with the help of eight investors.
FAQs
How Many Startups Are There in Boston?
There are currently more than 4000 startups operating in Boston.
What is the Average Investment in Boston Startups?
The average Seed Funding round in Boston is worth $1.5 Million and the average Series A is worth $8.3 Million.
What Startup Industries Are The Strongest in Boston?
The strongest startup industries in Boston are Life Sciences, Robotics and advanced manufacturing.
