Diversity is a hallmark of Memphis’ population. And the city is known for its entrepreneurial nature. The inaugural class of Memphis Inno's Startups to Watch reflects that racial, gender, and business-focused diversity.
Since its fall 2021 launch, Memphis Inno — MBJ’s brand geared toward startups, technology, and innovation — has expanded its coverage of the local entrepreneurial ecosystem. The section highlights startups and founders who are breaking technological ground in their respective industries, with new ventures and innovative product offerings. Represented among Memphis Inno’s Startups to Watch in 2022 are entities with concerns as varied as medical technology, music and digital content, transportation, finance, and retail.
Some are early stage companies figuring out how to get off the ground, and others already have significant sources of funding and are looking to scale up. All are uniquely Memphis ventures.
Spesana
At the bottom of emails from Carla Balch, next to her name, you’ll see the logo of her startup, Spesana. And below it are three simple words: “I hate cancer.”
Her work backs up this sentiment, as Spesana has found success and proven to be an effective tool for physicians fighting the disease. The company provides an aggregated medical record to ensure cancer patients get the best care possible, based on their overall needs. And its platform melds molecular diagnostic reports with electronic medical records, prior authorization, payer processes, approved drugs and pathways, clinical trials, clinical literature, and scheduling.
As of fall 2021, it had grown 20% year over year and raised a healthy amount of funds. In summer 2020, it secured $1 million. And in May 2021, it scored $2.97 million more.
The company has also partnered with Biodesix Inc., a Colorado-based diagnostics solutions business that provides molecular diagnostics tests, with a focus on lung cancer. A public company, Biodesix earned $45.5 million in FY 2020, according to its annual report, and provides Spesana clients a streamlined, efficient way to order molecular diagnostic tests for their patients.
