We look back – and peep into the future – with Columbus Inno Startups to Watch from January 2022.
Ian Lawson/The Business Journals
One year ago, Columbus Inno picked the inaugural class of Startups to Watch – tech companies that hadn't grabbed many headlines but offered intriguing business models and the potential for a newsy future.
How'd we do? They're all still watchable, and some might yet be making those headlines this year instead. As is common for startups, a great many pivoted their business models during the year – in some cases jettisoning their original ideas.
Maybe they didn't all make headlines, but in many cases that's a Columbus Inno problem. Every company made some kind of progress; none is out of business.
A handful told Columbus Inno in recent weeks that they're poised for news they're not quite ready to talk about.
Two health IT startups were among the standouts:
Brock Leonti, founder and CEO of Prescribe Fit Inc.
Carrie Ghose | CBF
Prescribe Fit Inc. over the course of 2022 expanded to several new states and increased by 20 times the number of orthopedic physicians and surgeons prescribing its platform for remote monitoring and lifestyle coaching for weight loss and fitness.
Out of the gates in 2023, the Franklinton startup announced a $4 million seed round – and that participating investor Mike Kaufmann, who recently stepped down as CEO of Cardinal Health Inc., has joined as director.
The company has grown to 50 employees, with plans to triple this year, founder and CEO Brock Leonti said in an interview.
"This will definitely be the year Prescribe Fit defines itself in the orthopedic market," Leonti said.
Luke Buchanan, co-founder and CEO of Redi.Health Inc.
Redi.Health Inc.
Redi.Health Inc., a startup making a free tool for patients to manage chronic illnesses, in the fall raised an addtional $3.7 million toward a goal of doubling in size by mid-2023. That makes a total of $5 million in VC in just over a year.
Redi.Health Inc. adds "thousands" of patients monthly to its app that replaces manual processes for tracking medications, symptoms and steps in a treatment regimen, said co-founder and CEO Luke Buchanan. Its paying customers are pharmaceutical manufacturers.
"It all comes down to impact," Buchanan said in October.
Distribution partners signed through the year offer connections to the Redi app when appropriate for the patients using those companies – ordering a prescription delivery via ScriptDrop, seeking a discounted drug price on GoodRx or accessing nurse counseling or other case management through Labcorp's Patient Access Solutions business.
Check the slideshow for updates on the rest of the class of '22, and what we're watching this year:
Startups to Watch 2022 review
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Here are updates on more of the startups we predicted would make headlines in 2022, in alphabetical order.
ACBJ
Armatus Bio Inc.
The startup from a group of serial biotech entrepreneurs remains in "stealth" mode headed into 2023, but has licensed four gene therapy candidates, according to its website, starting the long process toward trials and seeking regulatory approval. Co-founder and CEO Michael Triplett (pictured) also is active on many boards – and as chairman helped lead the transition of the Ohio Life Sciences trade group to an expanded mission from its former identity as BioOhio. He's also a co-founder and board member of Clarametyx, one of our 2023 Startups to Watch.
Overall, the cell and gene therapy industry is rapidly evolving. About two dozen new treatments were approved last year, and many more are in the pipeline, according to trade journals. Pfizer's recent announcement that it's pulling back on early stage research to focus on therapies already at the clinical trial stage indicates that big pharma is looking to small biotechs to handle early innovation. Pharmaceutical companies also are seeking new ways to deliver therapies to cells other than modified viruses.
"I consider this a natural and healthy market dynamic," Triplett said this week via direct message. "Our institutions and companies need to drive the next wave of innovation to maintain Central Ohio's competitive advantage."
The startup from a group of serial biotech entrepreneurs remains in "stealth" mode headed into 2023, but has licensed four gene therapy candidates, according to its website, starting the long process toward trials and seeking regulatory approval. Co-founder and CEO Michael Triplett (pictured) also is active on many boards – and as chairman helped lead the transition of the Ohio Life Sciences trade group to an expanded mission from its former identity as BioOhio. He's also a co-founder and board member of Clarametyx, one of our 2023 Startups to Watch.
Overall, the cell and gene therapy industry is rapidly evolving. About two dozen new treatments were approved last year, and many more are in the pipeline, according to trade journals. Pfizer's recent announcement that it's pulling back on early stage research to focus on therapies already at the clinical trial stage indicates that big pharma is looking to small biotechs to handle early innovation. Pharmaceutical companies also are seeking new ways to deliver therapies to cells other than modified viruses.
"I consider this a natural and healthy market dynamic," Triplett said this week via direct message. "Our institutions and companies need to drive the next wave of innovation to maintain Central Ohio's competitive advantage."
Dan Trittschuh
Battleface Inc.
More than 33,000 travelers insured their trips with Battleface last year against losses like cancelation, baggage loss or medical emergencies, according to a year-end summary posted on LinkedIn. In September, the Drive Capital-backed company brought its claims processing in-house, according to a news release. Battleface indicated an open funding round with a regulatory filing last February, but has not announced if it closed. So we'll be looking to catch up with CEO Sasha Gainullin (pictured) soon.
More than 33,000 travelers insured their trips with Battleface last year against losses like cancelation, baggage loss or medical emergencies, according to a year-end summary posted on LinkedIn. In September, the Drive Capital-backed company brought its claims processing in-house, according to a news release. Battleface indicated an open funding round with a regulatory filing last February, but has not announced if it closed. So we'll be looking to catch up with CEO Sasha Gainullin (pictured) soon.
Erika Gene Clark
Bistro UX
BistroUX, the online menu and ordering platform aimed at mom-and-pop restaurants, had spread throughout Ohio and was starting to expand into Indiana and Kentucky at the start of 2022. Throughout the year, it added Michigan, North Carolina and California, said CEO Purba Majumder (pictured) via email. BistroUX grew out of Cybervation Inc., the custom software business Majumder founded more than two decades ago. As takeout orders surged in the pandemic, small independent restaurants adopted the affordable online system that didn't take a huge cut like delivery services. As a result, in 2021 Majumder pulled back on most of the boutique software business to focus on the product startup BistroUX.
The team added several features last year, she said, many reflecting the return of in-person dining – such as QR code menus, pay-by-phone from table, and digital gift cards. BistroUx revenue grew by 15% in the year, and the client base expanded to more cuisines from the original Mexican and Latin restaurants. Overall, parent Cybervation grew 40%, Majumder said via email. "We are super excited about the future," she said this month.
BistroUX, the online menu and ordering platform aimed at mom-and-pop restaurants, had spread throughout Ohio and was starting to expand into Indiana and Kentucky at the start of 2022. Throughout the year, it added Michigan, North Carolina and California, said CEO Purba Majumder (pictured) via email. BistroUX grew out of Cybervation Inc., the custom software business Majumder founded more than two decades ago. As takeout orders surged in the pandemic, small independent restaurants adopted the affordable online system that didn't take a huge cut like delivery services. As a result, in 2021 Majumder pulled back on most of the boutique software business to focus on the product startup BistroUX.
The team added several features last year, she said, many reflecting the return of in-person dining – such as QR code menus, pay-by-phone from table, and digital gift cards. BistroUx revenue grew by 15% in the year, and the client base expanded to more cuisines from the original Mexican and Latin restaurants. Overall, parent Cybervation grew 40%, Majumder said via email. "We are super excited about the future," she said this month.
Jeffry Konczal for ACBJ
Circulo Health
Circulo Health certainly made headlines with a major pivot to its business model in 2022. Spun out of unicorn Olive AI with a $50 million VC round, in late 2021 Circulo was licensed as an insurer and getting ready to pursue founder Sean Lane's vision of using technology to power a Medicaid managed care plan for lower costs and better health outcomes. In May 2022 Circulo was the only company to respond when Ohio Medicaid asked for market help shaping parameters of an AI-powered savings program created in the state budget.
But just over a month later, the startup shut down that managed-care business unit and cut about 20% of staff.
The company pivoted to its revenue-generating business and now focuses on in-home and community-based care for individuals with intellectual and developmental disabilities. Now offered in more than two dozen Ohio counties, that business more than tripled over the course of 2022, President Jeff Grahling (pictured at left) said in a direct message. The company has grown to more than 500 employees statewide. Circulo also acquired a primary care startup outside Albany, New York.
The year also marked executive departures: Tom McMahon (pictured at right) stepped down in December as vice president of I/DD programs. Former COO Mike Renn took a new job as chief of staff at Path Robotics mid-year.
Circulo Health certainly made headlines with a major pivot to its business model in 2022. Spun out of unicorn Olive AI with a $50 million VC round, in late 2021 Circulo was licensed as an insurer and getting ready to pursue founder Sean Lane's vision of using technology to power a Medicaid managed care plan for lower costs and better health outcomes. In May 2022 Circulo was the only company to respond when Ohio Medicaid asked for market help shaping parameters of an AI-powered savings program created in the state budget.
But just over a month later, the startup shut down that managed-care business unit and cut about 20% of staff.
The company pivoted to its revenue-generating business and now focuses on in-home and community-based care for individuals with intellectual and developmental disabilities. Now offered in more than two dozen Ohio counties, that business more than tripled over the course of 2022, President Jeff Grahling (pictured at left) said in a direct message. The company has grown to more than 500 employees statewide. Circulo also acquired a primary care startup outside Albany, New York.
The year also marked executive departures: Tom McMahon (pictured at right) stepped down in December as vice president of I/DD programs. Former COO Mike Renn took a new job as chief of staff at Path Robotics mid-year.
Glenn Herzberg
Empora Title Inc.
Empora Title Inc., a digital-first title company automating many steps in the antiquated paper-piling world of title transfers for real estate investors, expanded over the course of 2022 from its initial Ohio territory to Kentucky, Florida and Indiana – as the startup aims for all 50 states. Tech development included augmented features such as support for transactions involving multiple properties.
Empora came out of stealth at the end of 2021 with a $20 million Series A. Last summer, founder and CEO Megan Harris (pictured) was named one of Forbes magazine's 30 Under 30 in the finance category. In all, 600 young entrepreneurs were selected in different categories from some 12,000 nominations.
Empora Title Inc., a digital-first title company automating many steps in the antiquated paper-piling world of title transfers for real estate investors, expanded over the course of 2022 from its initial Ohio territory to Kentucky, Florida and Indiana – as the startup aims for all 50 states. Tech development included augmented features such as support for transactions involving multiple properties.
Empora came out of stealth at the end of 2021 with a $20 million Series A. Last summer, founder and CEO Megan Harris (pictured) was named one of Forbes magazine's 30 Under 30 in the finance category. In all, 600 young entrepreneurs were selected in different categories from some 12,000 nominations.
Jeffry Konczal for ACBJ
Fleri Inc.
Building for an untapped market, Fleri Inc. listened to its pilot customers – and completely revamped its products as a result. The mission remains the same: Fleri's platform allows immigrants to the U.S. better direct remittances to pay directly for services for family in their home countries, avoiding high fees, middlemen or misdirection of funds. But mid-year, Fleri dissolved its previous exclusive partnerships for care plans, instead building and launching a broader health marketplace for immigrants to purchase health insurance and other services. It currently operates in Ghana, Nigeria, Zambia and Zimbabwe. The change led to much faster sign-up of paying members, founder and CEO Sam Baddoo (pictured) said in a fall company update – and after rebuilding, Fleri was able to start activating customers from a more than 16,000-person wait list.
The pivot landed key funding in September as one of the first three awardees for $100,000 apiece grants to Black-owned Columbus tech startups from Rev1 Ventures' new Diversity, Equity & Inclusion Grant Fund.
Building for an untapped market, Fleri Inc. listened to its pilot customers – and completely revamped its products as a result. The mission remains the same: Fleri's platform allows immigrants to the U.S. better direct remittances to pay directly for services for family in their home countries, avoiding high fees, middlemen or misdirection of funds. But mid-year, Fleri dissolved its previous exclusive partnerships for care plans, instead building and launching a broader health marketplace for immigrants to purchase health insurance and other services. It currently operates in Ghana, Nigeria, Zambia and Zimbabwe. The change led to much faster sign-up of paying members, founder and CEO Sam Baddoo (pictured) said in a fall company update – and after rebuilding, Fleri was able to start activating customers from a more than 16,000-person wait list.
The pivot landed key funding in September as one of the first three awardees for $100,000 apiece grants to Black-owned Columbus tech startups from Rev1 Ventures' new Diversity, Equity & Inclusion Grant Fund.
Jeffry Konczal for ACBJ
LenTechs LLC
Lentechs LLC had planned to launch its next-generation bifocal contact lens from a prolific Ohio State University inventor in early to mid-2022. In November 2021, the OSU spinoff announced that patients in a clinical trial reported “clinically meaningful and statistically superior distance vision.”
Led by CEO Robin Sears (pictured), the startup kicked off 2022 last January with the Apioc lens named "product of the year" by Contact Lens Spectrum, a clinical news source for eye doctors. "This level of innovation is a remarkable accomplishment," the publication said of the lens.
But it's not yet on the market: Lentechs decided to revamp the manufacturing process to the molded lenses common in the industry, which allows producing larger volumes at less cost, Chief Commercial Officer Paul Grimm said via email. It had been made using a lathe process; that version was FDA-approved, so it will need to seek approval for the new manufacturing method. LenTechs also also is pursuing more clinical trials to differentiate the lens from others, Grimm said.
"We are currently working these development plans to help ensure the best possible scenario for commercial launch," Grimm said.
Lentechs LLC had planned to launch its next-generation bifocal contact lens from a prolific Ohio State University inventor in early to mid-2022. In November 2021, the OSU spinoff announced that patients in a clinical trial reported “clinically meaningful and statistically superior distance vision.”
Led by CEO Robin Sears (pictured), the startup kicked off 2022 last January with the Apioc lens named "product of the year" by Contact Lens Spectrum, a clinical news source for eye doctors. "This level of innovation is a remarkable accomplishment," the publication said of the lens.
But it's not yet on the market: Lentechs decided to revamp the manufacturing process to the molded lenses common in the industry, which allows producing larger volumes at less cost, Chief Commercial Officer Paul Grimm said via email. It had been made using a lathe process; that version was FDA-approved, so it will need to seek approval for the new manufacturing method. LenTechs also also is pursuing more clinical trials to differentiate the lens from others, Grimm said.
"We are currently working these development plans to help ensure the best possible scenario for commercial launch," Grimm said.
Lentechs LLC
Rhove
Fractional real estate ownership Rhove went live selling its $1 shares in July, starting with a German Village property. The goal was a $40 million pool that would open a wealth-generating investment class to everyday investors.
Approval from the U.S. Securities and Exchange Commission took longer than expected, and the startup stuck with a test group for a few more months to ensure a smooth debut, said co-founder and CEO Calvin Cooper (pictured). The company hasn't said much since the rollout, and we are watching how the subsequent multiple hikes to interest rates will affect the real estate market and thus Rhove's strategy.
Fractional real estate ownership Rhove went live selling its $1 shares in July, starting with a German Village property. The goal was a $40 million pool that would open a wealth-generating investment class to everyday investors.
Approval from the U.S. Securities and Exchange Commission took longer than expected, and the startup stuck with a test group for a few more months to ensure a smooth debut, said co-founder and CEO Calvin Cooper (pictured). The company hasn't said much since the rollout, and we are watching how the subsequent multiple hikes to interest rates will affect the real estate market and thus Rhove's strategy.
Jeffry Konczal
Tandem
After building up a roster of background-checked babysitters, Drive Capital-backed startup Tandem in fall shifted focus from gig work with individual families to help solve the enormous staffing crisis in childcare centers. The fintech platform has built up to hundreds of workers available for flexible shifts at some 220 centers throughout Ohio – and Tandem is gearing up to spread to more states, said co-founder and CEO Olivia Weinstock (pictured, center, with left-to-right co-founders McKenzie Kennelly and Natalie Amling).
"It was so clear that there was a need, and we had the workforce to fill it," Weinstock said via email. "We've removed the friction involved in the process to become a credentialed child care provider to work in the state of Ohio."
Join Tandem Inc. is structured as an online bank, simplifying direct daily payments from center to caregiver. The company's revenue is a simple transaction fee as with any bank, helping build loyalty because the app is free to users.
After building up a roster of background-checked babysitters, Drive Capital-backed startup Tandem in fall shifted focus from gig work with individual families to help solve the enormous staffing crisis in childcare centers. The fintech platform has built up to hundreds of workers available for flexible shifts at some 220 centers throughout Ohio – and Tandem is gearing up to spread to more states, said co-founder and CEO Olivia Weinstock (pictured, center, with left-to-right co-founders McKenzie Kennelly and Natalie Amling).
"It was so clear that there was a need, and we had the workforce to fill it," Weinstock said via email. "We've removed the friction involved in the process to become a credentialed child care provider to work in the state of Ohio."
Join Tandem Inc. is structured as an online bank, simplifying direct daily payments from center to caregiver. The company's revenue is a simple transaction fee as with any bank, helping build loyalty because the app is free to users.
Courtesy Join Tandem Inc.
Uleet
Like several other watchlist peers, Uleet Inc. changed its business model to focus on what resonated. The startup founded by veterans of CoverMyMeds and Updox had applied to become an insurer on the federal exchange at the end of 2021, intending to craft individual health plans that would reward healthy behaviors. During its first full year, however, it dropped the insurance part to focus on wellness. (Pictured from left to right, co-founders are CTO Mike Berkman, COO Heath Rittler and CEO Alex Husted.)
In November Uleet launched its online marketplace for some 75 wellness providers such as yoga, personal training, nutritional counseling and mindfulness training. Having raised $600,000 in seed funding to date, the startup has grown to 10 employees and is making revenue, Husted said via email.
Like several other watchlist peers, Uleet Inc. changed its business model to focus on what resonated. The startup founded by veterans of CoverMyMeds and Updox had applied to become an insurer on the federal exchange at the end of 2021, intending to craft individual health plans that would reward healthy behaviors. During its first full year, however, it dropped the insurance part to focus on wellness. (Pictured from left to right, co-founders are CTO Mike Berkman, COO Heath Rittler and CEO Alex Husted.)
In November Uleet launched its online marketplace for some 75 wellness providers such as yoga, personal training, nutritional counseling and mindfulness training. Having raised $600,000 in seed funding to date, the startup has grown to 10 employees and is making revenue, Husted said via email.
Jeffry Konczal for ACBJ
