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St. LouisTech Startup Report
2015 YEAR IN REVIEW
itenstl.org | Twitter: @itenstl
ITEN is generously supported by:
1 0 t h A N N I V E R S A R Y
Presented by
The St. Louis Tech Startup Report: 2015 Year in Review is
an overview of the tech startup ecosystem in the greater
St. Louis metropolitan area. This reports reflects our best
efforts to capture information about the growth, evolution
and current state of technology startups and the system
that supports them. The report is based on self-reported
and publically available data on over 420 tech startups in
the St. Louis region.
2015 YEAR IN REVIEW
About this Report
As the catalyst for tech startups
in St. Louis, ITEN provides unique
programs for rapid product
development, connections to talent,
essential networking and access to
funding. ITEN engages experienced
entrepreneurs to help others build
successful, growing tech ventures.
These critical connections are formed
through direct mentoring access, a
curriculum of graduated acceleration
programs and weekly and monthly
networking programs. Designed by
entrepreneurs for entrepreneurs and
requiring neither payment nor equity,
ITEN is a unique community asset and
a proven route to venture success.
2 Introduction
3 St. Louis Present & Future
4 The Money
6 The Talent
9 The Companies
10 ITEN Top Ten
12 ITEN Fast Ten
14 Tech Startup Community Support
16 Technology Clusters
17 The Founders
18 Top ITEN Moments of 2015
St. Louis Tech Startup Ecosystem Map & List of Ecosystem Events (detachable)
Table of Contents
1
Welcome to the 2015 St. Louis Tech Startup Report. ITEN is pleased to present this year in
review, highlighting some of the amazing accomplishments and current state of emerging
tech companies in our region.
ITEN IS ENTERING
ITS 8TH YEAR of
serving the tech
startup community
in the St. Louis
region. For the
last 4 years, this
report has served
as a source for
data and information regarding the health
of the startup tech community. This year’s
report features, once again, our favorite
lists: The ITEN Top Ten and ITEN Fast Ten.
Our rankings continue to change as more
potential companies get started and existing
ones continue to grow in revenue, funding
and headcount.
In addition to our company lists, we have
updated ITEN’s popular tech ecosystem
map for the St. Louis region. This year,
it’s detachable and contains conference
and event lists as well. We are very proud
to produce a document that is used to
showcase all that is happening in this
amazing community. Not only does it
highlight the scope and breadth of support
for entrepreneurs; the ecosystem map also
provides a snapshot of how collaboration
drives our progress. It hopefully serves as a
further call to action to align our efforts for
the greater good.
Last year was certainly a momentous year for
ITEN. We have highlighted some of 2015’s
big moments in this report, but a few deserve
mention here.
The year started with ITEN emerging from
Innovate St. Louis as a stand-alone non-
profit entity. Since 2008, ITEN had been part
of the Innovate St. Louis umbrella, where it
crafted its early programs and services and
grew year after year. It is with appreciation
and gratitude for all of Innovate St. Louis’
years of support that ITEN began its
independent journey in
January 2015.
Also in 2015, ITEN’s
Founder and Executive
Director Jim Brasunas
retired from his
position. The impact
of Jim on the startup
community is long-
lasting and immense. Eight years ago, hardly
any of today’s startup community existed,
particularly in the IT/tech sector. ITEN was
driven by Jim’s vision and tenacity, particularly
in those early years of its existence. He will
be missed from our daily activity but we
are happy to have him as a board member,
knowing that he continues to fully support
ITEN as the unique community asset it is.
Something we are most proud of is ITEN’s
Corporate Engagement Program. This was
developed in response to the growing interest
from established, St. Louis-based companies
to engage with the startup ecosystem.
Large corporations are putting innovation
teams into incubators as well as actively
participating in events targeted at the
innovation and entrepreneurial communities.
At ITEN, we see this as a hugely positive
trend and something upon which to build. We
hope to see more startups and corporations
collaborating on business solutions to drive
revenue and growth in 2016 and beyond.
As we embark on a new year, we are
reminded of still more work to be done to
advance the innovation
and entrepreneurial cause
in our region. As always,
our entrepreneurs are
looking for more funding,
more talent and more
ways to bring a wider
audience into the work
of this community. In
2016, ITEN will be hard at
work, seeking creative solutions to that and
more for our companies. We look forward to
collaborating with all our ecosystem partners
on that work.
Enjoy the 2015 Tech Startup Report!
Francis ChmelirExecutive Director, ITEN
Introduction
“ It is with appreciation and gratitude for all of Innovate St. Louis’ years of support, that ITEN began its independent journey in January 2015.”
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Patricia Hagen, PhD President & Executive
Director, T-REX
What advantages does
St. Louis have as a place to
grow your startup? Our world-
class universities are graduating
excellent, talented individuals,
and faculty are engaged in
encouraging innovation and
entrepreneurship. Our culture
of friendly collaboration makes
partnering for greater outcomes
a fairly easy task. The region has
a multitude of accelerators and
venture capital organizations,
as well as strong entrepreneur-
ial support organizations. St.
Louis also has great resources
that support and spur develop-
ment of startup companies,
ensuring that St. Louis startup
companies have the best chance
for success. Finally, the cost
of living is fairly low, which is
vitally important for our startup
entrepreneurs!
What is the number one
thing St. Louis’ tech startup
ecosystem needs to improve in
2016? To ensure we challenge
ourselves with constant quality
improvement in all our activi-
ties and work—in training and
education, investment decisions
and facilities. And, in building
and supporting communities
that will form the future of the
St. Louis region.
Brian Matthews Co-Founder &
General Partner,
Cultivation Capital
General Partner & Mentor,
SixThirty Fintech Accelerator
What advantages does
St. Louis have as a place to
grow your startup? St. Louis
has a high number of large
companies who may be your
first customer. If your startup
is in the areas of AgTech,
FinTech, or BioTech there is a
lot of talent and opportunity
to sell your product into these
companies. Due to these corpo-
rate strengths the region has
incubators, mentors, accelera-
tors and funds that specialize in
these areas.
What is the number one thing
St. Louis’ tech startup ecosys-
tem needs to improve in 2016?
We need to improve our ability
to raise capital for all of the
initiatives that are important
to the startup ecosystem. This
includes investment capital for
our startup companies, money
for recruiting and retaining tal-
ent and capital for growing and
upgrading our physical assets.
Travis Sheridan Executive Director,
Venture Café - St. Louis
What advantages does
St. Louis have as a place to
grow your startup? One of the
biggest advantages St. Louis
has is the region’s authentic
industries. If we look at the
three most recently launched
accelerator programs—The
Yield Lab (AgTech), SixThirty
(FinTech) and Stadia Ventures
(Sports)—each represents
industries where the investors
can really add value, the entre-
preneurs can find beta testing
opportunities and there are
strategic partnerships close by.
What is the number one thing
St. Louis’ tech startup ecosys-
tem needs to improve in 2016?
This might sound odd, but we
need some of our floundering
startups to fold and redistribute
that tech talent to other teams.
In a healthy ecosystem, talent
is fluid and St. Louis will grow
through shrinkage. Let’s find
a way to put the best talent in
places where they can succeed.
Those successes will be game-
changing.
St. Louis Present & Future
Q&A
Ginger Imster Executive Director,
Arch Grants
What advantages does
St. Louis have as a place to
grow your startup? There is a
strong culture of collaboration
among those organizations that
support early-stage entrepre-
neurs. We’ve heard from many
other metro areas that this is
unique. I believe the entrepre-
neurs benefit because there is
less duplication of efforts and
more sharing of resources and
information, leading to more
effective service delivery to the
startups.
What is the number one
thing St. Louis’ tech startup
ecosystem needs to improve
in 2016? The role of talent
acquisition and retention is
crucial to developing a robust
startup ecosystem: the people
come first. All other aspects
—angel investment, venture
capital, etc.—follow the people
who are creating innovative
products and services. St. Louis
is a place that celebrates and
supports entrepreneurs, but we
must prove we can celebrate
successful exits and successful
failures—we need both for our
ecosystem to retain and attract
the very best.
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Joe Roberts, PhD Director, Entrepreneurship
Program & Associate
Professor of Management,
Walker School of
Business & Technology,
Webster University
What advantages does
St. Louis have as a place
to grow your startup? St. Louis
is exceptionally situated to
provide innovative approaches
to entrepreneurs. The entre-
preneurial ecosystem in St.
Louis holds opportunities that
other cities in the nation do
not present to startups. With
its incubators, accelerators
and capital providers, St. Louis
offers reliable support for the
creative class, IT, bread and
butter businesses, biotech and
related industry sectors.
What is the number one thing
St. Louis’ tech startup ecosys-
tem needs to improve in 2016?
St. Louis should do more along
the lines of 4-T benchmarking
efforts:Technology, Talent,
Tolerance and Territory Assets.
The city of St. Louis has to en-
gage the diverse richness of the
region and its proximity to a di-
verse populace and the creative
class. The number one focus for
the St. Louis ecosystem should
be the purposeful support and
improvement of inclusivity and
diversity in 2016.
24
2015 was another year of growth and maturity for the St. Louis tech startup community.
WE SAW AN
INCREASE IN
BOOTSTRAPPED
companies as well
as those receiving
angel and venture
capital funding.
The popularity of
using crowdfunding
platforms also continued to rise. This diversity
in funding sources fueled fundraising
success for companies at all stages of early
development. In addition,
later stage companies
have also been able to
attract more funding both
from out-of-state and
newly established venture
capital funds in St. Louis.
In 2015, three new accelerators—Prosper
Women Entrepreneurs, The Yield Lab and
Stadia Ventures—invested in a total of 21 new
portfolio companies. Established accelerators
Capital Innovators and SixThirty added
another 19 companies to their portfolios. And
Arch Grants continued to successfully attract
strong startups to St. Louis with its non-
dilutive grants, adding 21 companies to its
roster of recipients. Three new venture capital
funds came on the scene, or made their first
investments in 2015—Lewis & Clark Ventures,
Cultivation Capital Tech Fund II and Lindbergh
Tech Fund.
While venture capital outlays peaked
nationally in 2014, they continued to increase
for St. Louis tech companies in 2015, growing
from $155M in 2014 to
$175.9M this past year.
This represents a 166%
increase from 2013
when it was $66M. More
than 60 tech companies
received funding in 2015
with 25+ companies
receiving a million dollars or more.
The rapid increase in funding for St. Louis
tech startups also aligns with the steady
growth in monthly revenue. In 2015, St. Louis
tech startups achieved a monthly combined
revenue of $8.3M, representing a 10.6%
increase from $7.5M in 2014 and 40.6%
increase from $5.9M in 2013.
The hope for 2016 is that this positive
progress on the investment and revenue
fronts translates into successful exits for
many startups, as 2015 was a quiet year in
that area. This ability to put cash into the
hands of founders, employees and
investors to be reinvested back into the
community is a key indicator of a strong
innovation ecosystem.
2015 was a strong year in many aspects, and
we head into 2016 equipped with the tools
to continue to make St. Louis a great place to
start and grow a tech company.
Tom NiermannVice Chairman, St. Louis Arch Angels
Entrepreneur in Residence, ITEN
The Money
The One Million Dollar ClubIn 2014, one of the biggest challenges facing sur-
veyed companies was securing adequate investor
funding. We want to honor the companies who
rose to meet that challenge head-on in 2015 by
raising a $1 million or more:
AgerpointAisle411Better WeekdaysBlueStrataBonfyreBusyEventEpharmixGainsightGeoNumerical Solutions
Hatchbuck HDS International Corp.JuristatKingdom SceneLabel Insight Norse PromisePayRespond Well SmartCare Consultants
Sparo LabsSynek Draft SystemTopOppsTruQCTunespeakVarsity TutorsVelocidata
“ Once again, Missouri ranks fourth in the number of accelerators behind only California, New York and Texas.”
Note: Data stated above compiled from publications by Cultivation Capital, Pitchbook and CB Insights
35
175.9M
155.1 M
66.7 M
30.3M
12.3M
28M
2010 2011 2012 2013 2014 2015
Money Invested in St. Louis Tech Startup Companies
“ The hope for 2016 is that this positive progress on the investment and revenue fronts translates into successful exits for many startups”
– Tom Niermann Vice Chairman, St. Louis Arch Angels
Entrepreneur in Residence, ITEN
Note: This data does not represent all the startups responding, as some opt to not provide this specific data point due to its sensitive nature.
8.3M7.5 M
3.5 M
1.2M
2010 2011 2012 2013 2014 2015
5.0 M
5.9 M
2012 2013 2014 2015
9.1M
3.5M3.8M
4.1M
Amount of Self-Funding in St. Louis Tech Startup Companies
Combined Monthly Revenue of St. Louis Tech Startup Companies
46
The Talent
In an age where information sharing is at its peak,
creative problem-solvers are increasingly drawn to
the idea of collaborating in order to build.
THE APPEAL OF
ENTREPRENEURSHIP
EXTENDS BEYOND
the satisfaction of
owning a company
or becoming a
leader. It’s about
seeing a problem as
an opportunity to
innovate. It’s a way of looking at the world.
This entrepreneurial perspective is fueling
St. Louis’ tech startup ecosystem and is
propelling our city to national (and arguably,
international) attention.
Building the right team can mean the
difference between success and failure.
At an early-stage company, the nature of
work is always changing. The highest value
employees are those who are comfortable
with ambiguity and jump at the opportunity
to add structure to chaos.
These “swiss army knives” or “full-stack
employees” have the unique ability to sort and
synthesize unyielding amounts of information
into strategically executable tasks. Such
candidates not only hold a deep understanding
of their domain, but a “big picture” cognizance
that enables them to dynamically deal with
shifting priorities and expectations.
Some of the greatest success stories in
business can be attributed to unplanned
changes in strategic course, set about
by unexpected circumstances in market
opportunity. The attitude of a successful
employee parallels this pivot-ready approach.
In only a handful of years, St. Louis has
positioned itself as a Midwestern mecca
for innovation. Our once empty buildings
are now filled with the bustle of co-working
entrepreneurs, freelancers and university
students. From conference room to coffee
station, the power of creative proximity is
fueling collaboration. The energy is palpable,
even intoxicating. In this environment, our
embedded culture of growth and innovative
spirit continues to breed new leadership.
St. Louis is establishing itself as an ideal
testing ground for thought leadership in
Cybersecurity, Digital Healthcare, Enterprise
SaaS, Life Sciences, FinTech, AgTech, and
civic-minded technology. With a strong
ecosystem in place, aspiring entrepreneurs
now have the perfect laboratory to test and
launch their ideas.
St. Louis is becoming a hybrid economy, as
symbiotic relationships between incumbent
corporations and growth-stage startups are
providing access to on-demand innovation, and
the ability to scale these ideas beyond the region.
As we bridge the gap between old and new,
the brands that St. Louis is known for are
partnering with the next generation of
entrepreneurs as they crack the code on a
new tech-enabled economy.
Colleen LiebigCEO, Plugged-In St. Louis
Career Advisor, Industry Career Specialist - Entrepreneurship, Olin Business School
Former Head of Talent Acquisition, Cultivation Capital
“ This entrepreneurial perspective is fueling St. Louis’ tech startup ecosystem and is propelling our city to national (and arguably, international) attention.”
57
The Talent: Employment Data
Total Full Time Employees of St. Louis Tech Startup Companies
Total Part Time Employees of St. Louis Tech Startup Companies
2015
2014
2013
2012
2011
2015
2014
2013
2012
2011
835
109
827
252
601
57
1073
386
1461
450
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The Talent: Future Employment Data
Roles St. Louis Tech Startups are Looking to Hire
TECHNICAL27%
C-Level & Strategy: 6%
HR: 2%
Marketing: 15%
Sales: 15%
Operations: 7%
Industry Expertise: 7%
Administration: 5%Finance: 4%
Legal: 4%
Others: 3%
Customer Service: 5%
Note: These hiring plans are subject to funding.
Number of Employees Tech Startups Expect to Hire in 2016
1st six months of year: 501 Full year: 764
7
Fast Ten list: Fastest growing St. Louis
tech startups, ranked based on the same
metrics as Top Ten but limited to compa-
nies founded in 2014 or later
Charts of Community Support: See how
our top companies are connected to various
parts of the innovation community.
INSIDE THIS SECTION
Top Ten list: Top 10 tech startups ranked
based on the following key metrics: total
funds raised, current monthly revenue,
payroll and total employees
Technology Clusters: Top companies in
each technology cluster
The most vital ingredients in a startup community are the
entrepreneurs and ventures bringing new ideas to market,
reshaping industries and creating something of lasting value.
The
Companies
Number of Startups Surveyed for the Report
2015: 425
2014: 310
2013: 350
2012: 250
ITEN’s goal is for this report to provide a comprehensive view of the St. Louis tech startup ecosystem. Our data collec-tion methods include direct company surveys to both ITEN member and non-member tech companies, collaboration with other community organizations and review of public data. Due to the confidential nature of much of the data used in our report, we do rely most heavily on the companies to provide us this information. Therefore, limited or absent data can affect a company’s inclusion or ranking in the list.
The St. Louis region is blessed with
numerous emerging companies that are not
just growing, but thriving. Once again this
report recognizes and celebrates the tech
ventures getting the most traction, and
therefore are most likely to become lasting
successes and make significant contributions
to the St. Louis region’s economic prosperity.
There are great tech ventures in St. Louis
that didn’t make this list. That in no way
means that they aren’t destined for great
success. The bar is being raised every year
by the rapid growth of our top companies,
and the honor of being mentioned as one
of St. Louis’ top tech ventures means more
this year than ever before.
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TOP
TENITEN ranks the top St. Louis tech startups, based on the key metrics of total funds raised, current monthly revenue, payroll and total employees.
2014 TOP TEN1 Norse norse-corp.com
2 Splice Machine splicemachine.com
3 MulticoreWare Inc. multicoreware.com
4 Lockerdome lockerdome.com
5 FoodEssentials foodessentials.com
6 Hatchbuck hatchbuck.com
7 aisle411 aisle411.com
8 TruQC truqcapp.com
9 Click With Me Now clickwithmeknow.com
10 Observable Networks observable.net
1 2
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Splice Machine splicemachine.com Twitter: @splicemachine
Splice Machine provides the only Hadoop
RDBMS. It is designed to scale real-time
applications using commodity hardware
without application rewrites, providing
companies with a high-performance,
massively scalable database for applications
that don’t require compromising SQL support,
secondary indexes, joins and transactions.
FUN FACTS■■ Splice Machine receives guidance from one
of the world’s largest banks, Wells Fargo,
through its Startup Accelerator Program.
■■ Splice Machine was included in CRN—The 10
Coolest Big Data Products of 2015.
■■ Splice Machine was included DBTA’s “Big
Data 50 - Companies Driving Innovation” list.
VelociDatavelocidata.com Twitter: @VelociData
VelociData is enabling advanced analytics
and continuous decisioning for the Internet
of Everything. VelociData can reach through
the network and pull all relevant data
without taxing system resources while
passively monitoring traffic on multiple high-
bandwidth links. VelociData’s recent project
to implement real-time network data capture,
analytics, and decisioning is positioning them
to become the preferred approach to optimize
revenue, customer retention and risk for all
broadband network operators.
FUN FACTS■■ VelociData holds almost 50 US patent in the
area of advanced computing systems.
■■ VelociData has a “mobile mood improver” in the
form of a rescued dog from the Humane Society.
■■ The VelociData technical founders were all
professors from Washington University.
MulticoreWaremulticorewareinc.com Twitter: @MulticoreWare
MulticoreWare is the leading provider of
programmer productivity tools, libraries
and application development services for
homogenous and heterogeneous multicore
CPU and GPU architectures.
FUN FACTS■■ MulticoreWare has launched Machine
Learning business.
■■ MulticoreWare made the INC 500/5000 list
for the second time in a row in 2015.
■■ MulticoreWare’s x265 HEVC encoder has
been rated as the best overall encoder in the
first HEVC codec comparison by the Moscow
State University Graphics & Media Lab.
Hatchbuckhatchbuck.com Twitter: @getHatchbuck
Hatchbuck is simple sales and marketing
software for small business that automates
sales and marketing efforts overnight. Turn
emails into conversations, website visitors
into handshakes and customers into raving
fans with our all-in-one sales and marketing
platform.
FUN FACTS■■ Hatchbuck was recognized as the fastest-
growing Missouri startup in Mattermark’s
2014 Startup Traction Report.
■■ Software review site G2Crowd ranks
Hatchbuck as a High Performer in the
marketing automation space, with a the top
customer satisfaction rating of 97%.
■■ Hatchbuck was rated as a top CRM by
GetRank and a best CRM software for 2015
by Business News Daily.
911
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Label Insightlabelinsight.com Twitter: @Labelinsight
Label Insight (formerly FoodEssentials) is a
cloud-based product data engine committed
to helping brands and retailers solve their
data transparency challenges. The company
translates basic product information into
smart attributes, such as nutrients and
allergens, providing brands and retailers with a
deep understanding of their product set. This
information is then shared with consumers in
a standardized format, giving them the power
to make informed purchasing decisions.
FUN FACTS■■ Label Insight has 45 employees in two
offices in St. Louis and Chicago.
■■ Label Insight has had 3 different
names before settling on Label Insight.
(EatingSafe, FoodEssentials, Label Insight).
LockerDomelockerdome.com Twitter:@lockerdome
LockerDome is a social media platform that
helps you personalize the web. The company
builds interactive widgets, which are embedded
across thousands of partner websites,
delivering engaging, interest-based content to
more than 100 million people each month.
FUN FACTS■■ LockerDome’s ad units see engagement
rates that are 18 times the industry
average.
■■ Since 2013, LockerDome evolved from just
sports to serving more than 30 categories.
■■ LockerDome has offices in St. Louis and
New York City.
Aisle411aisle411.com Twitter: @aisle411
Aisle411 is the recognized leader in local
product search, powering search in over
250,000 retail locations, mapping products
in over 13,000 stores, building innovative
mobile analytics using positioning and image
recognition technologies, and developing
Augmented Reality (AR) solutions to create
the Internet of Stores and Indoors for a variety
of clients.
FUN FACTS■■ You can now search for millions of products
in over 250,000 locations in the new
Aisle411 “Shops” app.
■■ Aisle411 can deliver indoor positioning
experiences on mobile devices using new
Google and Apple technologies.
■■ Aisle411 created a “Darth Vader”
augmented reality (AR) experience.
Bonfyrebonfyreapp.com Twitter: @BonfyreApp
Bonfyre is a private social communication
platform that is creating a new level of
employee engagement around events, project
teams, employee groups, learning programs,
culture and more. This unique focus on human
connections is helping companies leverage
existing investments in events (conferences,
meetings, incentive trips) and employee
engagement programs—leading to more
actionable intelligence, productivity and revenue.
FUN FACTS■■ The founders’ combined height is 12’-9”.
■■ Bonfyre team had the second fastest time
getting out of an escape room (38 minutes)
saturation in non-iPad environments.
■■ Bonfyre support teams have provided on-
site support in South Africa, Turkey
and Mexico.
TruQCtruqc.com Twitter: @TruOC
TruQC is a quality control and process
documentation app built for the iPad.
Originally designed for industrial painters,
TruQC is now bringing QC and reporting tasks
into the digital age for customers in an array
of industries.
FUN FACTS■■ TruQC has been used on projects in all 50 US
states and Washington D.C., as well as 70+
countries.
■■ TruQC is proud to say that they count the
St. Louis Cardinals as one of its satisfied
customers.
■■ TruQC recently released a web-based
addition to the product, to increase
saturation in non-iPad environments.
TopOPPStopopps.com Twitter: @TopOPPSHO
TopOPPS is a sales pipeline management
and forecast predictability solution that uses
machine learning algorithms to bring clarity
to the sales pipeline, accuracy to the forecast
and alignment to the sales process.
FUN FACTS■■ TopOPPS won the Forbes Ten Top Hottest
Sales Tools at Dreamforce.
■■ TopOPPS currently employs three full-time
transplants from the east coast, three from
the west coast and one from the south.
■■ TopOPPS CHO (Chief Happiness Officer) is a
rescue dog named “Topper”.
12
FAST
TENSt. Louis’ fastest growing tech startups, founded in 2014 or later, ranked based on the key metrics of total funds raised, current monthly revenue, payroll and total employees.
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GeoNumerical Solutionsgeonumerical.com
GeoNumerical Solutions helps clients
understand and predict underground
responses to subsurface activities through
simulation and analysis. Built on its
proprietary Argos software and executed in
high-performance computing facility, GNS
designs, develops, and applies a variety of
advanced numerical methods and models to
provide clients with unparalleled insight into
their operations.
FUN FACTS■■ Over three-fourths of GNS staff hold PhD’s.
■■ GNS’s board members include the CTO of
Baker Hughes and a Stanford professor.
■■ GNS’s software’s symbol is a peacock
feather, representing eyes of Argos.
Gladitoodgladitood.com Twitter: @Gladitood
Gladitood is a crowdfunding platform
that helps nonprofits raise funds and rally
volunteers around its projects. They give
nonprofits the tools, education and action
plan they need to engage current donors
and capture new donors online.
FUN FACTS■■ Originally, the company was named Wooga
(World Of Outrageously Generous Adventures)
■■ The idea for Gladitood came when its
founder took a trip to Samoa in 2011.
After a Tsunami warning on his second
night there, he learned the community
he was staying with was still rebuilding
after a devastating Tsunami in 2009. That
experience pushed him to create something
that could help grassroots organizations
get the resources they need to effect
positive change.
Epharmixepharmix.com Twitter: @Epharmix
Epharmix, a digital health startup,
creates clinically validated, condition-
specific communication tools: SMS and
phone-based “digital interventions.”
Epharmix interventions align with existing
reimbursement codes and quality metrics,
and are proven to help patients, save payers
money, and generate new revenue for
physicians and nurses.
FUN FACTS■■ Epharmix started as a research project, and
evolved into a past-growing technology
company beginning in May 2015.
■■ The Epharmix team holds bi-monthly “Sushi
Friday” lunches.
■■ Despite the low average age of the
Epharmix team, each of the founders are
serial entrepreneurs.
Fluentfluentfunds.com Twitter:@fluentfunds
Fluent is the blockchain-based financial
operating network for banks, large companies
and their global supply chains. By connecting
banks and businesses on a distributed
financial database, Fluent eliminates
friction in financial flows across global
supply chains. The Fluent solutions include a
global, real-time payment platform, treasury
management and supply chain collaboration
tools, and a free, robust supplier portal.
FUN FACTS■■ The team has a combined fourteen years
of experience in Blockchain and Digital
currencies, an industry which has only been
in existence for six years!
■■ The team has a diverse collection of degrees
in finance, computer science, graphic
design, marketing, political science, history,
psychology, exercise science, and even Spanish.
GeoNumericalSolutions
1113
3
8
4
9
5
10
Ziplinezipline.com Twitter: @ziplinelabs
Zipline is the world’s first mobile live
broadcast marketplace. Zipline provides a
simple way to convert influence into cash.
It does this by creating direct video access
between the influencer and his/her audience.
Then, without interrupting the broadcast, it
gives the viewer an opportunity to interact,
send money or purchase goods.
FUN FACTS■■ Zipline’s engineering team is 50% female.
■■ Zipline’s engineering team is 100% sourced
through St. Louis-based LaunchCode.
■■ Zipline’s engineering team is all local, but
reside in four different counties.
Lean Medialean.media Twitter: @lean_media
Lean Media leverages the power of Big
Data to deliver highly relevant and targeted
advertising to users across the Internet at
the household, individual and business level.
Its unique “audience first” approach, which
incorporates a combination of offline data
acquisition, data analytics and cutting edge
data activation, results in more meaningful
connections between advertisers and their
target audiences.
FUN FACTS■■ So far, Lean Media has been asked to target
a wide variety of unique audiences from
pig farmers to on-the-go vegans to safety
equipment buyers.
■■ Lean Media is the second ITEN company in
one family, with co-founder and CEO Beth
Handrigan’s husband a co-founder of fellow
ITEN company, Recursive Labs.
Need Fixed Partsneedfixedparts.com Twitter: @Need_Fixed
Need Fixed Parts is an online wholesale parts
distributor for cell phone repair shops across
the U.S.—a $1.4BN industry and still growing.
It focuses on providing only the highest quality
parts to clients to ensure that its defect rate
stays below 5%, which is much less than
competitors.
FUN FACTS■■ All three founders attended Ranken
Technical College and pursued IT jobs for 7
years before founding Need Fixed Parts.
■■ Need Fixed Parts was accidentally founded
as a small pivot to generate revenue for the
original company, Need Fixed, that was a
SaaS product for consumers to locate repair
shops outside Yelp!
HIPAA Trekhipaatrek.com Twitter: @hipaatrek
Compliance is a journey and not a destination.
HIPAAtrek understands this and offers cloud-
based software that guides organizations
through creating, implementing, and
managing a customized HIPAA compliance
program. A trek may be a long and arduous
journey, but HIPAAtrek makes your trek to
HIPAA compliance easy!
FUN FACTS■■ HIPAAtrek had 38 clients before they even
released their software. HIPAAtrek presold
our software to a group of early adopters to
help us fund our early days of development.
■■ They did not trip over their bootstraps
before raising money - but both the CEO
and General Counsel fell down stairs (3
weeks apart) and dealt with broken ankles
in Q4 2015.
Trendlybetrendly.com Twitter: @beTrendly
Trendly is a social discovery app that
recognizes people for living the brands they
love and lets them shop from each other’s
real-life photos. Trendly helps up and coming
brands get discovered in a more authentic way
by connecting them with rising influencers
who want to tell their story.
FUN FACTS■■ Trendly founders met at an entrepreneurial
summit while still in college, and pitched
the idea that eventually became Trendly,
but unfortunately lost to a team with a
funky smelling body butter.
■■ Their first real cofounder bonding
experience was a “Laughter Yoga” class of
mostly 70-80 year old women.
DataDog Healthmindset-app.com Twitter: @mindset_app
DataDog health is the creator of Mindset, an
app that helps people stress less. Mindset
pairs with heart rate monitors to measure
stress and notify you when you’re becoming
stressed. Then it gives simple exercises based
on therapy to help users cope.
FUN FACTS■■ The inspiration for using heart rate to track
emotion in our device comes from work
done with monkeys by our co-founder at the
National Institutes of Health.
■■ They named the company DataDog after
a loyal companion animal that seems to
sense the sentiment of its owner.
■■ The Mindset team is not afraid to get down
with emotional honesty. Every meeting they
share “good things” that have happened to
them, and their company-centric fears.
needfixedparts.com
1214
Tech Startup Community Support
Splice Machine 2■ ■ 4■ 4 4 ■ ■ ■ ■
MulticoreWare 3 ■ 4 4 ■ ■ ■
Label Insight 5 4■■ ■ 4 4■ ■ ■ ■ ■
Lockerdome 4 4■■ ■ ■ ■ ■ ■ ■
■
Aisle411 7■ ■ 4 4 4 ■ ■ ■ ■ ■■
Velocidata n/a■ ■ 4■■ ■ ■ ■ ■ ■
Hatchbuck 6■ ■ 4■ ■ 4 ■ ■ ■ ■
TopOpps ■ ■ 4■■ ■ ■ ■ ■ ■
TruQC 8 4■ ■ ■ ■ ■ ■ ■
Bonfyre 4■ 4■ 4■
ITEN P
rogra
mm
ing
ITEN M
entors/
EIRs
Incu
bator
(Past
or Curre
nt)
St. Louis
Acc
elerato
r Pro
gram
Ecosy
stem
Funding
St. Louis-
Based
Unive
rsity
Helix Center
T-REX
CIC@CET
CET
T-REX
T-REX
Capital Innovators
Capital Innovators
Capital Innovators
Capital Innovators
Cultivation Capital,
Arch Grants
Cultivation Capital
Cultivation Capital
Cultivation Capital,
St. Louis Arch Angels
Several local investors, led by James V. O’Donnell
Cultivation Capital,
St. Louis Arch Angels, Missouri
IDEA Funds
St. Louis Arch Angels, St. Louis
University Billiken Angels
Network, Missouri IDEA
Funds
St. Louis University,
Washington University in St. Louis
Washington University in St. Louis
Washington University in St. Louis
Washington University in St. Louis
Washington University in St. Louis
Note: This chart was created based on data given to us by the companies.
Serial E
ntrepre
neur
First-T
ime Founder
2014 Top Ten Rank
ITEN TOP TEN
Honorable Mention
No. 1 Fast Ten
15
GeoNumerical 2015 4 ■ ■ Solutions
Epharmix 2015 4■ ■ ■ ■ ■ ■ ■■
Zipline 2014 4 4 4
Need Fixed Parts 2014■ 4■ 4■ 4■
Trendly 2015■ ■ ■ 4 4
Gladitood 2015 4 4
Fluent 2014 4 4 4■ ■ ■ ■ ■■
Lean Media 2014 4 4 4 ■ ■ ■
HIPAATrek 2014 4 4 4■ ■ ■ ■ ■■
DataDog Health 2014 4■■ ■ 4 4■ ■ ■ ■ ■■■
Year Founded
ITEN P
rogra
mm
ing
ITEN M
entors/
EIRs
Incu
bator
(Past
or Curre
nt)
St. Louis
Acc
elerato
r Pro
gram
Ecosy
stem
Funding
St. Louis-
Based
Unive
rsity
St. Louis-
Based
Unive
rsity
IDEA Labs
T-REX
T-REX
CIC@4240, T-REX
IDEA Labs
Capital Innovators
Startup Next
Capital Innovators
Capital Innovators
BioGenerator, St. Louis Arch Angels, iSelect
Fund
Local Investors
St. Louis Arch Angels
Lindbergh Fund, Arch Grants
Common Place Holdings
Washington University in St. Louis
Washington University in St. Louis
Washington University in St. Louis
Note: This chart was created based on data given to us by the companies.
Serial E
ntrepre
neur
First-T
ime Founder
ITEN FAST TEN
16
Technology Clusters
The majority of ITEN member companies fall into one or more of the Technology Clusters below.
In 2016, ITEN will be structuring its programming around these four areas to streamline focus on industries in
which St. Louis has shown success, and where there is critical mass of resources and expertise. This structure also
helps when engaging the corporate innovation community, giving them a targeted pathway to areas of interest.
ITEN’s Corporate Engagement Program will fully launch in 2016 with both public and private events connecting
tech startups with its corporate partners* in the region.
Big Data/AnalyticsBig Data, Internet of Things, etc.
Top Big Data Startups
1. Splice Machine 2. Label Insight 3. Velocidata
Infrastructure, Software, & Mobile DevelopmentHardware systems, SaaS, Mobile App etc.
Top Infrastructure, Software, & Mobile Development Startups
1. MulticoreWare Inc. 2. LockerDome 3. Aisle411
Cybersecurity & Financial ServicesTop Cybersecurity Startups
1. Gremln 2. Observable Networks 3. Bandura
Healthcare ITSt. Louis region industry strength
Top Healthcare IT Startups
1. MedSocket 2. Sparo Labs
3. Epharmix
* Founding corporate partners are Daugherty Business Solutions, Enterprise Holdings, Monsanto and Reinsurance Group of America. Four additional partners are targeted to join in 2016.
Cluster Rankings
17
The Founders
Diversity & Inclusion
A top goal of ITEN is to continue to expand the St. Louis tech ecosystem and reach out to those typically underrepresented in tech entrepreneurship. We have a strong belief that the more diverse the input, the more successful the outcome. This belief drives our programming, partnerships
and mentor and company recruitment. Below are the top startups helping strengthen this effort with their leadership.
Top Women-Led Startups
1. myEDmatch 2. Bandura 3. Sparo Labs
Top Minority-Owned Startups
1. MulticoreWare Inc 2. Label Insight 3. Better Weekdays
Top Immigrant-Owned Startups
1. Label Insight 2. CrazyForEducation 3. Tallyfy
Our entrepreneur founders come from all kinds of backgrounds and experiences. By tracking the origins of our founders’ entrepreneurial journeys, ITEN can continue to tweak our programming to serve a diverse base of
entrepreneurs. The following charts outline the key demographics of our company founders.
Founder’s Origin and College Founder’s Age
Founder’s Gender
St. Louis Metropolitan area
Missouri – Non STL
Illinois – Non STL
US (Remaining)
Europe
Africa
Asia, New Zealand & Australia
Latin America
40%20%
14%
11%
48%
5%
0%
0%
1%
9%
11%
26%
4%
2%
6%
3%
Founder’s OriginFounder’s College
2015: 16% Women-Owned 2014: 20% Women-Owned2013: 19% Women-Owned
Under 25:
18%
46-55: 17%
Over 55: 6%
36-45: 25%26-35:
34%
18
Top ITEN Moments of 2015
3 Change of Leadership After 7 years at the helm, ITEN founder and Executive
Director, Jim Brasunas retired in May, passing the baton
to Director of Operations Francis Chmelir.
4 Co-Organized VISION 2015 ITEN partnered with BioSTL and St. Louis Makes to host
the first-ever regional inclusion symposium on biosci-
ence, IT and advanced manufacturing. The first VISION
conference brought together more than 200 diverse
individuals across academic, corporate and entrepre-
neurship sectors, with many attendees new to the St.
Louis innovation ecosystem. More than 35 entrepreneur
support organizations also participated.
5 Co-Organized Hack4Hope Hack4Hope’s mission is to create inroads to innovative
careers for underserved youth in the St. Louis area. ITEN
co-organized the first Hack4Hope hackathon held at
T-REX in July, attracting 37 students and 16 professional
mentors, and helped launch the follow-on program
Hack4Hope Academy.
1 First Stand-Alone Year After 7 years under Innovate St. Louis, ITEN became its
own not-for-profit corporation on January 1, 2015. New
Board Members, row 1: Jim Brasunas, Dedric Carter, Hal
Gentry, Vicki Gonzalez; row 2: Jason Hall, Ken Harrington,
Tom Hillman, Bill Peck; row 3: Jean Roberson, Donn Rubin,
Mark Showers and Jim von der Heydt.
2 Winner of St. Louis Regional Chamber’s Arcus Award ITEN shared the Arcus Award for Achievement in En-
trepreneurship and Innovation with Cultivation Capital,
recognizing the importance of both mentorship and
education along with capital investment.
5 Launched Corporate Engagement Program Adding to our already robust programming, we launched
a formal Corporate Engagement Program with Founding
Partners Daugherty Business Solutions, Enterprise Hold-
ings, Monsanto and Reinsurance Group of America, to
facilitate the process of connecting tech startups to area
corporations for mutually beneficial collaborations.
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2
3
4
5
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Special Thanks
We would like to give special thanks to the following
organizations, who have given us tremendous help and
support in the data collection for this report.
Published in collaboration with eqstl.com