These are the 15 Cincinnati startups you need to be watching in 2021.
American Inno
It’s been a wild year over here at Cincy Inno. And not just because of the ongoing global worldwide pandemic. Despite a 2020 filled with lockdowns, shutdowns, and more pivots than we care to count, we’ve still been able to share great stories, highlight companies new and old, highlight some amazing funding rounds, while also exploring some shifts in innovation that maybe wouldn’t have otherwise taken hold. Now that we’re finally closing in on the end of the year, we’d like to take a step back and look at the companies poised for big things in January – and beyond.
For our third annual Startups to Watch list, Cincy Inno has highlighted 15 up-and-coming tech companies that should be on your radar in 2021. These early-stagers have established solid traction, either by early raises, fast revenue growth, impressive hires or innovative approaches to important problems – and should see even more growth next year and beyond. These companies, which range from health tech to fintech to agriculture and more, will have a big impact on our region going forward. So without further adieu, here are our Cincinnati Startups to Watch in 2021.
- Hive Networks, a mission-driven digital health company with a first-of-its kind technology, wants to improve quality of life and health outcomes for patients with rare and chronic conditions with its “learning health networks.” The firm, founded in 2019 as a Cincinnati Children’s spinout with CincyTech backing, had to grow up quickly during the Covid-19 pandemic. In November, Hive Networks, earned Tech Ohio’s “Ohio’s Best Startup Culture” award.
Pay Theory is a new Cincinnati fintech.
Courtesy of Pay Theory
- Pay Theory is tackling a big problem that nobody else seems to be tackling. Per the startup, which officially launched this year, 30% of school families are un- or underbanked. And educational systems do not have a safe/practical way to provide inclusive payment methods to allow those families to pay for the large number of fees required. At least until now. Pay Theory’s team, headed by Brad Hoeweler (Skipjack) and Eric Fulkert (Soundstr), is very connected and impressive. Locally, the fintech space will only grow.
- A lot of startups claim to be a leader in their space. Astronomer, which help companies run, manage and scale Apache Airflow, an open-source data platform, is extremely serious about cementing that claim. In May, the company, headquartered in Union Hall, raised a nearly $14 million round from Venrock, Bain Capital and others. Surely there’s more to come. Joe Otto, who doubles as a venture partner at Refinery, came on board as CEO in 2019, bringing 35-plus years of experience in navigating the tech landscape.
Carson Grill landed an investment on "Shark Tank" this year.
ABC
- Fresh off its "Shark Tank" debut, Touch Up Cup, a paint-saving product, is still riding high on its momentum from the airing of the ABC hit show in October. To recap: father-and-son duo Jason and Carson Grill landed a $175,000 deal for a 17.5% stake of the company. At the time of airing, Touch Up Cup had around $220,000 in revenue. The company expects to top $2M next year. I’m no math whiz, but that’s more than a 700% increase.
- If we were picking potential unicorns here, Halo Health should be on that short list. The company, formerly Doc Halo, which has developed a cloud-based mobile platform to accelerate communication and collaboration in health care, is doing some unprecedented work, and its customers include some of the most prestigious hospital systems around the country. Mike Krupka, a partner at Bain, which led Halo’s $11 million Series A in 2017, maintains a seat on its board. VC raises aside, the company’s making serious bank. Watch out.
Isaiah Kelly, CEO and founder of Smoove Creations.
Smoove Creations
- Smoove Creations, a custom sneaker company, is arguably the most successful startup to come out of NKU, and its founder/CEO, Isaiah Kelly, has been dubbed one of the top 30 student entrepreneurs in the country. Kelly, who is now pursuing his master’s in Highland Heights, has increasingly more time to dedicate to the business and wants to expand its lineup to include apparel. Don’t expect any big fund raises here – just steady growth and increased recognition.
- B the Keeper works with businesses, municipalities and landowners to install bee pollinator habitats in urban areas. The startup, founded by Brandon Reynolds, received a $10,000 grant from the Duke Energy earlier this year to install pollinator habitats at local high schools, and it’s got some crazy buzz from its first-place finish at Flywheel’s SustainableCincy accelerator. Expect that to absolutely open up more doors with local businesses for this company.
- Jumpdocs.com, formerly Boilerplate.legal, helps startups navigate all the documents and legalese they need to begin. It’s headed by several former local founders, including Blake Smith (Cladwell) and Chris Ridenour (Casamatic). So far, the Jumpdocs is bootstrapping its way along, and that seems to be the plan for now. Smith, in a November interview with CincyInno, said they’ve already turned down nearly $2 million in venture funding.
Electrada has installed two electric vehicle charging stations at Findlay Market.
Courtesy of Electrada
- If electric vehicles are indeed the future, Electrada should be on everyone’s “Startups to Watch” list. The OTR-based company is focused on turnkey delivery and management of EV charging solutions, and its recent partners include HILLS Properties, a Blue Ash-based developer, builder and apartments manager; the Cincinnati Art Museum; and Findlay Market. There’s an incredible appetite – and plenty of investment opportunity – for its kind of ecosystem among businesses, government leaders, building owners and drivers.
- Native, an AI platform that’s building a feedback loop between the agriculture industry and consumers to create a more personalized food supply chain, is newer to the Cincinnati startup scene. Co-founder Sarah Sanders recently relocated back to the area from New York City, where she founded and officially launched the business in 2019. Sanders is in the process of making inroads with area investors, so expect a raise in 2021 (Native has already raised $1 million in pre-seed funding to date). Insiders said Native has the potential for a “hockey stick rise.”
- Sense Neuro Diagnostics, based at HCDC, has been heads down hard at work building out its product, but there’s some big things potentially on the horizon for the six-year-old medical device company. Sense Neuro has developed two devices, non-invasive brain scanners that can assess and monitor a patient's neurological status in real time, one, for use in the field assessment, like in an ambulance, and another for continuous monitoring in a neuroICU. In pilot studies, completed at UC and Good Sam, the device was able to detect expanded brain hemorrhage and differentiate between stroke subtypes in all 15 cases. What’s next? Sense is currently enrolling patients in an FDA pivotal trial at Emory University and Grady Memorial Hospital. The second stage of the pivotal trial, slated for early 2021, will include sites in India and Canada. If all goes well, expect market entry soon.
Nick Rabin is founder and CEO of Homeshake.
Corrie Schaffeld /CBC
- Real estate is the No. 1 industry in the American economy, and Cincinnati's Homeshake aims to disrupt. The Union Hall-based startup offers clients a realtor-free homebuying experience, and once an offer is made, Homeshake does all the work all the way through transferring the title and closing, all on the platform. As a result, sellers can save thousands of dollars on commission. Homeshake landed its first deal in late-June, roughly a month after its public launch.
- The brainchild of Mark Jeffreys, a longtime Cincinnati marketing pro, 4Sight mines consumer reviews to help companies enhance and refine their branding efforts. The company launched in July 2019 as a spin-off to Jeffreys' first company, Mobile Agent Now, which helped companies respond and manage their consumer reviews with a personal touch. Now, it's already cleared $1 million in year-to-date revenue and secured a roster of high-profile clients, including Jeffreys' former employer Procter & Gamble.
- Acumen helps athletes create and monetize content for fans. Companies subscribe to Acumen for access to the athletes to negotiate potential sponsorship and advertising deals. The startup already has key partnerships in place with NBA legends Vernon Maxwell and Bram Weinstein. It’s part of Gener8tor’s gBETA Cincy Fall 2020 cohort.
- Speaking of gBETA, another company to keep an eye on is Over-the-Rhine’s Carefeed, which is also part of the ongoing accelerator. This startup offers a HIPPA-secure platform to allow senior living communities to distribute information for their staff, residents and residents' families. At a time when communication between nursing homes and residents' family is more critical than ever, expect to see big moves out of this company.
Meg Garner contributed to this report.
