These days, healthcare is one of the few markets that’s guaranteed to grow. There aren’t many industries that can say the same.
Which energy company should you invest in? It depends on who’s President. As for predicting the best new tech startup, good luck. Very smart people have been trying for years to pick winners in that sector, with limited success.
Healthcare growth, on the other hand, is driven by population growth. As the Baby Boomers age, they require more and more medical care, creating new opportunities for entrepreneurs. As America’s largest city New York is as much a part of this trend as anywhere else.
Here are 16 promising healthcare startups operating in New York City. Let’s take a look at a few quick facts about each of these companies!
Zocdoc
When were they founded: Zocdoc was founded in 2007 as a booking service for Manhattan dentists. Over the years, they’ve gone national, and serve doctors across 50 specialties.
Who are the owners: Zocdoc is owned in part by its founders, Oliver Kharraz, Nick Ganju, and Cyrus Massoumi. Other owners include investors Jeff Bezos, Marc Benioff, and a handful of venture capital funds.
What do they do: Zocdoc provides a way for patients to find doctors in a particular specialty. The company’s first CEO, Cyrus Massoumi, came up with the idea when he suffered for days trying to find a specialist to treat his burst eardrum.
What is the big change that they are bringing to the healthcare marketplace: Zocdoc makes it easy to book appointments with specialists you might otherwise not be able to find. They have also won multiple New York “best place to work” awards.
How much funding do they have: Zocdoc’s estimated market cap is at least $1.8 billion, including $220 million from outside investors.
Tempus
When were they founded: Tempus was founded in 2015, to perform genetic testing and aggregate data on cancer patients.
Who are the owners: Tempus is owned primarily by its founder, Groupon CEO Eric Lefkofsky. Lefkofsky founded the company after his wife was diagnosed with breast cancer and they had trouble finding genetic testing data.
What do they do: Tempus performs genomic testing to look for over 600 genetic markers that are associated with cancer. At this time, they only offer tests to physicians, and will not sell testing directly to consumers.
What is the big change that they are bringing to the healthcare marketplace: Currently, Tempus is providing genetic tests to physicians to go along with Covid-19 tests. They hope to identify genetic markers for high-risk individuals. In theory, this would allow doctors to determine what types of treatments are right for which patients.
How much funding do they have: Lefkofsky has used his business connections to raise multiple rounds of funding, the most recent for $200 million in the year 2020. Tempus is currently estimated to be worth $5 billion.
Quartet Health
When were they founded: Quartet Health was founded in the year 2014, and moved into their current New York City headquarters in 2016.
Who are the owners: Quartet Health is owned by a group of independent and institutional investors. This group is led by Puneet Singh, who is also the current CEO.
What do they do: Quartet Health provides booking and referral services for mental healthcare providers.
What is the big change that they are bringing to the healthcare marketplace: In addition to referral services, Quartet Health also tracks the healthcare quality of patients who use their service. Based on this feedback, they evaluate which providers to refer more patients to. This ensures the highest possible quality of care.
How much funding do they have: Currently, Quartet Health has $152 million in funding, including $60 million raised in the latest round of funding in 2019.
Flatiron Health
When were they founded: Flatiron Health was founded in the year 2012. In the year 2018, they became an independent affiliate of the Roche Group.
Who are the owners: As an independent Roche affiliate, Flatiron Health is wholly owned by Roche, but has its own management structure. At the time of its purchase by Roche, the company was valued at $1.9 billion.
What do they do: Flatiron Health provides data tracking services for all healthcare providers involved in the cancer treatment process. They have collected over 20 million data points to date, and shared this data with their healthcare partners.
What is the big change that they are bringing to the healthcare marketplace: Flatiron gathers data from almost 300 oncology practices, from major cities to small towns. This diversity allows them to collect a broader swath of data than many competitors.
How much funding do they have: Flatiron Health is currently owned by Roche. From 2012 to their acquisition, they raised $313 million in three rounds of funding.
Galileo
When were they founded: Galileo Health was founded in 2018 by a trio of veteran healthcare investors, including Thomas Lee, MD, and Michelle Snyder, co-founder of Doximity and One Medical.
Who are the owners: As of May, 2021, Galileo Health is still owned by the same investors who founded it. The company’s management team is entirely lead by doctors and board-certified clinicians.
What do they do: They provide telehealth services via the web and a smartphone app. Their goal is to help people treat basic, everyday ailments with advice from real health professionals.
What is the big change that they are bringing to the healthcare marketplace: Galileo Health provides people with a reliable telehealth service with health advice they can trust.
How much funding do they have: In May, 2019, Galileo raised an undisclosed sum of money from three outside investors. The lead investor was Oak HC.
Crossix
When were they founded: Crossix was first founded back in 2004, and was at the bleeding edge of healthcare analytics for over a decade before being acquired by Veeva in 2019.
Who are the owners: Crossix is currently owned by Veeva, a new company formed by a group of original founders. Crossix now operates under the Veeva name, although many in the industry still use the original name.
What do they do: Crossix/Veeva provides analytics services to healthcare providers throughout the world. They track patient data, and provide insights on statistical trends affecting healthcare outcomes.
What is the big change that they are bringing to the healthcare marketplace: Simply put, Crossix has been around a lot longer than most analytics companies. This hasn’t just given them experience; it’s also given them a broad footprint. Crossix even tracks healthcare data in Japan to provide a more diverse dataset.
How much funding do they have: As of May, 2021, Crossix has no funding of any kind. They are entirely owned by their own founders, without any input from outside investors.
Noom
When were they founded: Noom was first founded in 2008. In 2018, they were recognized as Google’s third most-searched diet. In 2019, they were recognized as the search giant’s most robust nutrition database.
Who are the owners: Noom is currently owned by its original founders, software engineers Saeju Jeong and Artem Petakov. They have also raised several rounds of venture capital funding.
What do they do: Noom is both a diet program and a smartphone app. Users pay a monthly fee, and receive day-to-day assistance with diet tracking, meal planning, and other tasks.
What is the big change that they are bringing to the healthcare marketplace: Noom was one of the first companies to pair a diet program with a fully-functional app. By tying the two together, they make it as easy as possible for their users to follow the program.
How much funding do they have: Since its founding, Noom has raised over $114.7 million in venture capital funding. Jeong and Petakov have both indicated that they are in the final stages of funding, suggesting that they plan on taking the company public soon.
Talkspace
When were they founded: Talkspace was founded in 2012 as a text message-based therapy program. Their offerings have since expanded to include video and audio therapy sessions, as well as couples therapy.
Who are the owners: Talkspace is owned by a couple, Roni and Owen Frank. After nearly getting divorced, the two repaired their marriage through therapy. Roni was so impressed that she went back to school to earn a master’s degree in psychotherapy, and the two started a company to help others.
What do they do: Talkspace provides remote video and audio therapy. These services can be accessed through a web browser, or via a smartphone app.
What is the big change that they are bringing to the healthcare marketplace: Because Talkspace was already heavily invested in telehealth before the Covid-19 pandemic, they were one of the best-prepared healthcare providers in any field.
How much funding do they have: Talkspace currently has $113.7 million in funding, raised in three separate rounds.
TrialSpark
When were they founded: TrialSpark was founded in the year 2014, in New York, New York.
Who are the owners: TrialSpark is still owned by its original founders, Benjamine Liu, Kit Dobyns, and Linhao Zhang.
What do they do: TrialSpark provides a number of services to researchers and startups who are performing clinical trials. With their network of physicians and experience with data management, they streamline a process that many find intimidating.
What is the big change that they are bringing to the healthcare marketplace: In addition to providing functional assistance, TrialSpark also provides assistance with funding.
How much funding do they have: At this time, TrialSpark has received an undisclosed amount of funding.
Pager
When were they founded: Pager was founded in 2014 in New York City. Initially called techCare, Inc, the company changed its name to Pager before the end of that year.
Who are the owners: Pager was founded by Gaspard de Dreuzy, Philip Eytan, and former Uber CTO Oscar Salazar. The founders still own the company to this day.
What do they do: Pager provides virtual healthcare services to patients throughout most US states.
What is the big change that they are bringing to the healthcare marketplace: Pager integrates telehealth with real-world health services. When a patient needs to visit their specialist or primary care physician in person, they can schedule an appointment directly from the app.
How much funding do they have: To date, Pager has raised $62.7 million in seven rounds of funding.
Simplifeye
When were they founded: Simplifeye was founded in September of 2015 by Ryan Hungate.
Who are the owners: Simplifeye is still owned by its founder, Dr. Ryan Hungate, DDS, MS. Doctor Hungate founded Simplifeye because of his own experiences in private practice. Tired of relying on outdated software, he decided to develop new alternatives for today’s physicians.
What do they do: Simplifeye is dedicated to replacing the software that doctors use to store and process medical records. This software sometimes dates back to the 1980s, and cannot work efficiently with modern healthcare needs, or on modern computer systems.
What is the big change that they are bringing to the healthcare marketplace: Unlike many software company founders, Dr. Hungate brings real world medical experience to the table.
How much funding do they have: Simplifeye has raised $3 million in four rounds of funding.
Amplicare
When were they founded: Amplicare was founded in 2012 in New York, New York.
Who are the owners: Amplicare is entirely owned by the two original founders, Matthew Johnson and Nathan Shanor. On October 1, 2020, they acquired Freedom Data Services, and officially became FDS Amplicare. This gave them the benefit of FDS’ 20 years experience in the pharmacy software fields.
What do they do: Amplicare develops software for pharmacy management, to improve customer engagement and outcomes.
What is the big change that they are bringing to the healthcare marketplace: Amplicare pairs their customer engagement capabilities with workflow management, so it supports all aspects of pharmacy operations.
How much funding do they have: As of May, 2021, Amplicare has not raised any outside funding.
StartUp Health
When were they founded: StartUp Health was founded in 2011, and celebrated its 10th anniversary in March of this year.
Who are the owners: StartUp Health is owned by 10 private investors. These include CEO Steven Krein and Investor Network Director Katya Hancock.
What do they do: StartUp Health is an investment firm that specifically focuses on investments in startup companies in the healthcare sector.
What is the big change that they are bringing to the healthcare marketplace: StartUp Health allows members of the general public to invest in some of the most promising healthcare startups. No longer do you have to be a multimillionaire just to consider investing.
How much funding do they have: StartUp Health has raised $24.3 million in two rounds of funding.
Doctor.com
When were they founded: Doctor.com was founded in 2012.
Who are the owners: Doctor.com’s owners include founder and CEO Andrei Zimiles, as well as a group of investment firms. Among these investors are Spring Mountain Capital, StartUp Health, and Colle Capital Partners.
What do they do: Doctor.com is an all-in-one platform that connects doctors, patients, insurers, and pharmaceutical manufacturers. Their goal is to streamline the process of medical care from start to finish.
What is the big change that they are bringing to the healthcare marketplace: Doctor.com integrates telehealth services into the rest of their platform. This helps patients navigate today’s confusing healthcare landscape.
How much funding do they have: Doctor.com has raised $18.2 million in four rounds of funding.
Call9
When were they founded: Call9 was originally founded in the year 2015.
Who are the owners: Unfortunately, Call9 is no longer in business, ever since they were forced to shut down in 2019. Prior to going out of business, they were owned by their founders: Celina Tenev, Timothy Peck, and XiaoSong Mu.
What do they do: Call9 was designed for patients who frequently needed to speak with a doctor. Instead of calling 911 or using an app, each patient received their own tablet where they could reach a doctor anytime, 24/7.
What is the big change that they are bringing to the healthcare marketplace: Call9 provided a simple solution for less tech-savvy patients.
How much funding do they have: Before going out of business, Call9 raised $34 million in outside investment. The most recent round of funding was announced on September 14th, 2017.
Zipdrug
When were they founded: Zipdrug was founded on February 1st, 2015.
Who are the owners: Zipdrug is co-owned by the three original founders: Kyro Beshay, Stu Libby, and Webster Ross. Other investors include a group of 18 private and institutional investors.
What do they do: Zipdrug connects patients directly with pharmacists who can fill their prescriptions.
What is the big change that they are bringing to the healthcare marketplace: Zipdrug pairs a local pharmacy service with the convenience of online delivery. They handle the process from the moment your prescription is issued until it arrives at your door.
How much funding do they have: To date, Zipdrug has raised $13.4 million in four rounds of funding.