Next Billion-Dollar Startups: In A Tough Year For Tech Firms And Venture Funding, Why These 25 Should Prosper

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Next Billion-Dollar Startups: In A Tough Year For Tech Firms And Venture Funding, Why These 25 Should Prosper
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In a tough year for tech firms and venture funding, these 25 companies made the cut for this year's Forbes Next BillionDollarStartups list.

–laid off more than 20% of their employees. With markets down and tech investors skittish, it’s a nerve-wracking time to find startups that are going to thrive.

“The market is doing gymnastics these days. We don’t control that,” says Astera CEO Jitendra Mohan, a first-time founder who previously worked for Texas Instruments. “What keeps me up at night is making sure we don’t while away this opportunity due to missteps.” Then, too, a number of companies on this year’s list have stockpiled cash to continue to grow–and to help buffer them against any future storms. Among them: AtoB, which offers payment cards for truckers, which raised a previously undisclosed $75 million in equity funding. “There’s a good healthy appetite from investors when the business model is strong,” says AtoB cofounder and CEO Vignan Velivela.

Productboard, which allows product specialists to monitor customer feedback in one space, raised $125 million at a valuation of $1.7 billion in February. Then, in April, Viz.ai, which uses artificial intelligence to detect strokes and treat them quickly, raised $100 million at a $1.2 billion valuation; in July the firm announced that it had received FDA clearance for its technology to detect subdural hematomas, following regulatory clearance earlier in the year for detecting brain aneurysms.

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