ANN ARBOR, MI, July 24, 2020 – Groundspeed Analytics is honored to have been featured in Business Insider’s list of 38 breakout B2B fintech stars and to be following in the footsteps of Stripe and Plaid. Here’s a sneak peek into the feature:
When it comes to early-stage investing, any investor will tell you that there’s more risk. That said, there’s also more reward for backers willing to bet on a young company.
And while direct-to-consumer startups like Robinhood and Chime often draw much of the attention in the fintech ecosystem, startups that deal directly with businesses have enjoyed some significant success recently.
Look no further than Plaid, which is in the process of being acquired by Visa for $5.3 billion, or Stripe, whose latest funding round put it just shy of a $36 billion valuation.
Fintechs investors, it appears, have noticed. Business Insider asked 27 of the top fintech investors to pitch us on up-and-coming fintechs. It’s worth noting more than 63% of the submissions were startups that cater to businesses, not consumers.
While investors could nominate both their own portfolio companies and those they haven’t invested in, we set a fundraising limit of no startups that had moved beyond a Series B raise.
Investors’ picks varied, but a major theme was automation — fintechs that help other companies streamline things like data management, expense tracking, and payments.
Cited by: Oak HC/FT (investor)
Total raised: $32 million
What it does: Groundspeed Analytics focuses on helping insurance carriers and brokers organize and analyze their data, the vast majority of which traditionally went unused. Customers are able to improve on margins and customer experience by accessing the unstructured data via the Ann Arbor, Mich.-based startup.
Why it’s hot in 2020: “Most innovation relies on having access to quality structured data as a starting point. This data allows innovators to run analytics and use AI/ML to change how products are priced, serviced and delivered. However, today that data is not organized or standardized in a format that brokers or carriers can actually use and benefit from,” said Tricia Kemp, cofounder and managing partner at Oak HC/FT.
“[Groundspeed] has many of the top brokers and carriers as customers and have already positioned themselves as the leader in data structuring and friction-less analytics for the industry,” she added.
Groundspeed is honored to be recognized on this list, and is excited to continue our impact in the fintech industry.
Business Insider is an American financial and business news website founded in 2009.