According to the MIT Sloan School of Management, the number of successful new companies in the U.S. has dropped from about one company per day in the mid-1990s to one company per week today.
This has led to a spate of articles that explore why so many small and medium-size businesses fail, as well as articles on how to create successful new companies again.
What if there’s something else going on here? Are high-growth tech companies becoming scarcer? Have they grown more difficult to launch again because they’re so expensive? Is it just that today’s entrepreneurs are less likely than yesterday’s entrepreneurs to attempt a startup after working for a large company?
In the rush to develop the next big thing in digital, it’s easy to overlook some of the lesser-known players. In a world where unicorns are becoming more commonplace and venture capital has been flushed into several new sectors, there is a glut of technology companies looking for funding.
Funding is great and necessary, but often overrated as an indicator of future success. Rather than looking at how much money a company has raised or what price they have IPO’d their stock at, it is more important to analyze what kind of business a startup is in their later stages and where they are headed.
According to research firm CB Insights, there are approximately 2,240 U.S.-based private technology companies in the market right now.
With that figure growing rapidly each year, we can expect this number to continue rising in the coming years. To find out which niche tech company you should be keeping an eye on this month, read on for our top picks…
Wayfair: The home decor e-tailer
Wayfair is a home decor e-tailer that allows customers to browse, buy and ship home decor online. The company currently operates in three segments: Wayfair Commercial, Wayfair and Wayfair Marketplace.
The Wayfair Commercial segment primarily operates through its e-commerce platform, which allows customers to browse and shop for home decor, furniture and cleaning supplies.
The company s retail operations operate through a network of around 4,200 stores, including around 2,200 in the U.S., 500 in Canada and 200 in the United Kingdom.
The Wayfair segment operates through Wayfair.com, where customers can browse and buy the company’s products. The Wayfair Marketplace segment is a platform where third-party sellers operate.
Zerust: The zero-maintenance vacuum cleaner company
Zerust is a manufacturer of high-tech, eco-friendly vacuum cleaners. While traditional upright vacuum cleaners can be challenging to store and lug around, Zerust’s new “Zero” line of vacuum cleaners are fully portable and require no power source.
The company sells its products online and through select retail partners, including Bed Bath & Beyond, Best Buy, Kohl’s, and Walmart. The Zero line of vacuum cleaners is available in three models: the Zero Upright, Zero Stick and Zero Canister.
Each model features Zerust’s patented Boost technology, which allows the Zero vacuum cleaner to have a bagged mode that reduces noise and a turbo mode that increases suction power, while using less energy. Zerust’s Zero vacuum cleaners come with a 5-year warranty, and the company offers a 1-year warranty on the bagged mode.
Crowd Companies: The fab coworking firms and portfolio services
Crowd Companies offers a portfolio service for businesses interested in opening their own coworking spaces. The firm provides a wide variety of services, including financing, network development, marketing, and a business management service.
The Crowd Companies portfolio currently counts 11 spaces. The Crowd Services line of products provide a range of services to Crowd Companies’ portfolio partners, including marketing and distribution services, financial and legal services, and data and marketing management. Crowd Companies is looking to raise a $22 million venture fund.
Helium: The cloud service for meetings, events and tradeshows
Helium is a cloud-based platform that offers a complete solution for organizing and managing events. The service offers a complete event registration system, which allows users to create registration forms for multiple events and manage their registration process online.
The Helium platform also allows users to manage their event schedule, create event marketing materials, and manage participation permissions for their events.
Helium currently supports event management for multiple types of events, including tradeshows, business meetings, social events, and conferences.
Good Time Financial Corporation: The FinTech ISA provider
Good Time Financial, also known as GTFC, is a financial services provider that currently operates as an ISA provider. The company’s ISA product allows customers to earn a tax-free interest rate on their savings. While the company also offers a savings account that earns a variable rate of interest.
GTFC currently operates through three subsidiaries: Best Helios (ISAs), Tech Helios (Savings Accounts), and Best Time Pay (Pensions). Best Helios currently offers five types of ISAs: Standard, Gold, Platinum, Junior, and ISA Gold.
Tech Helios currently operates as a savings account provider, offering a range of variable and fixed interest-only products, while Best Time Pay is a pensions provider that offers a range of pension plans.
Walkable City Network: The local development platform for walkability and transportation
Walkable City Network is a real estate and development platform focused on improving the walkability of commercial real estate.
The company currently operates in three segments: Walkable City Network, Walkable City Network Realty, and Walkable City Network Group.
The Walkable City Network segment primarily operates through its real estate and development platform, which is focused on connecting developers and investors with commercial real estate in walkable urban neighborhoods.
The Walkable City Network Realty segment is focused on the sale of commercial real estate and the development of retail and mixed-use properties.
Storify: The end-to-end document management platform
Storify is an end-to-end content management platform that users can use to create, store, and manage all types of content. The company is currently operating in three segments: Storify, Storify Pro, and Storify Media.
The Storify segment is focused on providing a platform for creating, storing, and managing all types of content. The Storify Pro segment provides customers access to the Storify platform, including analytics and reporting, and other premium features.
Storify Media is a marketing and advertising platform that helps businesses promote their content and gain more exposure.
All of this buzz and investment around venture capital is great, but it is important to remember that it is the companies that make it through the funding process that will be successful.
While investing in a seed round to get a new tech company off the ground can be an exciting process, it is important to remember that it is the companies that make it through the funding process that will be successful.
With so many companies looking for funding and so few companies actually receiving funding, it is important to look for new ways to assess the potential of a tech company before investing in them.