According to a report issued by Capital Entrepreneurs, a Madison-based industry group, local startups raised about $66 million 2015, with 15 companies bringing in more than $1 million. The young companies also created 215 full-time jobs, the report said.
Those numbers echo a recent University of Wisconsin Extension study, which said businesses less than five years old create nearly 50 percent of the jobs in the state.
With an eye on potential growth, here are some local startups to keep an eye on in 2016:
Healthfinch develops software to automate somewhat menial health care tasks, like setting up routine prescription refills. Earlier this month, the 5-year-old company announced a $7.5 million financing round, led by a Chicago-based investment firm. That brings the company’s total financing haul to more than $10 million.
Healthfinch currently has about 30 employees, but told the Wisconsin State Journal they plan to nearly double that by the end of 2016.
Redox, a company that helps app developers get access to electronic health records (EHRs) and health systems manage their connections to the cloud, had a big 2015. They announced a $3.5 million fundraising deal and won a prestigious national startup pitching competition.
The company had 10 employees in October 2015 and was working on plans to hire additional employees to expand its software development, customer service and business development departments, according to a report from Xconomy.
bluDiagnostics, the winner of the 2015 Governor’s Business Plan contest, provides a device and application to help women track their fertility. The company also took the top prize at Pressure Chamber, a pitching competition hosted by the Greater Madison Chamber of Commerce at the 2015 Forward Festival.
The small company recently announced the completion of a $600,000 seed fund round, which will help bring their product to market, according to Wisconsin State Journal report.
EatStreet, an online food ordering platform, provided one of the top local startup stories of 2015 with its $15 million financing round. That announcement brought the 6-year-old company up to $30 million since its launch.
At the time, the company announced plans to hire 30 additional employees.
Earlier this month, EatStreet announced a partnership with RedCard, the University of Wisconsin-Madison’s off-campus prepaid meal plan, to allow students to use their RedCard on EatStreet’s web and mobile platforms.
Healthmyne, an imaging informatics company that helps provide data to radiologists and other health care providers, announced its second FDA clearance earlier this month.
The latest clearance was for its imaging analytics package. Last August, its imaging informatics program was cleared by the FDA.
HealthMyne, which was launched in Madison in 2013, also announced a $4.5 million financing round in March 2015. The company currently has about 25 employees.