Round one of Minne Inno's Tech Madness received more than 1,100 votes and featured some of the closest matchups ever witnessed in our annual tournament.
If there's anything to be learned from round one it's this: Never doubt the importance of a single vote. Recombinetics barely beat Nomics, winning by two votes. When I Work topped HomeSpotter by one vote, and Inspectorio overtook Learn to Live also by one vote.
Upsie is back with a vengeance in year two of Tech Madness. The Minneapolis-based tech startup came in second place to StemoniX in last year's tournament. And in round one of 2019, Upsie handily beat health insurance startup Gravie, and emerged as the top overall vote-getter in the bracket.
The Sweet Sixteen is filled with interesting matchups. Bright Health, the most funded startup in the state, will face off against Branch, a fast-growing Minneapolis startup and Techstars alum. Both companies made it pretty far in last year's tournament. Bright made it to the Elite Eight and Branch advanced to the Final Four. But neither company has faced the other in Tech Madness – until now.
There's also an interesting mental health matchup between Recovree and HabitAware. Recovree pulled off a big upset in round one, topping agriculture-technology company Conservis, the bracket's No. 6 seed. We'll see if Recovree can keep up the momentum and come out on top against MN Cup winner HabitAware.
Remember, to determine the outcome of each matchup we want you to ask yourselves this question: Who would you invest in? This can be interpreted a number of different ways. Is this about which startup could deliver the highest return? Who you think is the safest bet? Or is it about supporting a project or mission you’re passionate about? However you want to interpret that question is up to you.
And because so many of you asked so nicely, we have added short company descriptions this round. Read more about the Tech Madness Sweet Sixteen below the bracket.
Voting for round two closes next Wednesday, March 20, at 11:59 p.m. Once we crown the Elite Eight of round three, things will start to speed up. Vote for your favorite companies then share with friends and colleagues to help us determine a winner.
Bright Health: Bright Health is an insurance startup led by a group of healthcare veterans that includes former UnitedHealthcare CEO Bob Sheehy. In late 2018, Bright closed on a $200 million Series C, likely the largest venture capital raise in Minnesota history. The previous holder of that record? Bright Health. In 2017, the company raised $160 million.
Branch: Branch was founded in California but relocated to the Twin Cities after participating in the first Techstars Retail program in 2016. The company, which offers employee scheduling software, grew quickly in its new home state, closing on $10 million less than a year after moving to Minneapolis.
Field Nation: Field Nation matches contractors and freelancers with corporate clients. It came in at No. 11 on the Minneapolis/St. Paul Business Journal's list of the Twin Cities' 25 largest SaaS companies. Field Nation has raised approximately $30 million, according to CrunchBase.
Structural: Structural is a SaaS startup that aims to give businesses greater insight into their workforce by analyzing data contained in human-resources systems and employee-created profiles. The company raised $2.5 million in 2018 from a group of investors that included Rise of the Rest. Structural is led by tech veterans Scott Burns and Chip House.
Dispatch: High-tech delivery service Dispatch raised $7.8 million in late 2018. Dispatch targets companies that need to deliver products like auto parts, construction materials, paint and HVAC components to customer sites. The company's tech lets suppliers orchestrate deliveries without owning their own fleet of vehicles or employing drivers.
Kidizen: Kidizen runs an online marketplace for buying and selling used kids' clothes. The company has raised approximately $5.1 million, according to CrunchBase.
ClickSwitch: Financial-technology startup ClickSwitch aims to make it easier for people to move bank accounts from one financial institution to another. The company was founded in 2014 and closed on $3.5 million in funding last year.
Recombinetics: Gene-editing startup Recombinetics closed on $34 million in funding last year to accelerate development of its "oinkubator" technology, which could eventually let scientists grow human organs inside of pigs. Recombinetics uses gene-editing technology to customize animals for the agribusiness and biomedical markets, using a technique called TALENs that was co-developed by researchers at the University of Minnesota.
Code42: Founded in 2001, cybersecurity company Code42 is one of the Twin Cities' most well-established tech companies. It is the No. 2 seed in this year's tournament.
Inspectorio: Techstars Retail alum Inspectorio makes technology for supply-chain inspections. Last year, the company closed on $10 million from an investor group that included Techstars and Ecolab. The company moved to Minneapolis from Hong Kong after participating in the Techstars accelerator in 2016.
When I Work: When I Work offers software applications businesses use to manage hourly workers' schedules.
Upsie: Another Techstars Retail alum, Upsie makes a mobile app that lets consumers compare, buy and track extended-service warranty plans. The company closed on a $1.7 million round of funding last year led by an investor group that included Techstars.
Sezzle: Sezzle, a startup that makes it easier for consumers to pay for online purchases in installments, closed on more than $100 million in financing in 2018. More than 200,000 users have signed up for Sezzle's service since it launched 18 months ago.
Foodsby: Foodsby, a Minneapolis-based startup that delivers restaurant food to office buildings, announced big expansion plans after closing on a $13.5 million round of funding led by Piper Jaffray Cos.' merchant banking business.
HabitAware: HabitAware won the 2018 Minnesota Cup, beating out 89 other local companies and walking away with combined winnings of more than $80,000. Earlier in the year, HabitAware was awarded a $300,000 federal grant from the National Institute of Mental Health to further develop Keen. Keen, HabitAware's flagship product, helps users pick up on repetitive motions and vibrates when it catches them in the act.
Recovree: Recovree, a startup founded by former Minnesota Cup director Melissa Kjolsing and her brother Luke Kjolsing, is helping people recover from substance use disorders by connecting them with peer support specialists, an increasingly popular, sponsor-like resource for those trying to achieve and maintain sobriety. Since then, the company has raised a $325,000 seed round to grow its business. Recovree also received $50,000 after winning a startup competition in North Dakota, and received $30,000 for taking the top place in the Minnesota Cup's impact ventures division.
