Providence Growing into a Startup Hub
There are so many companies fighting to put Providence on the innovation map that what is happening south of the Massachusetts border these days is amazing.
There is so much opportunity for success in the city that there is even a cohort of young, Boston-based entrepreneurs and startup folk who commute to Providence daily.
A big part of Providence's recent startup success also has to do with the Betaspring incubator that has produced a number of up-and-coming startups.
The Angus Davis led payment processor, Swipely, announced recently that they have processed over $1 billion in sales on their payment platform.
Swipely is one of the fastest growing companies in New England, they were even selected by Forbes as one of its "Most Promising Companies."
Andera, the FinTech company founded by Charlie Kroll, created an innovative account opening and lending platform that is being used by banks and credit unions throughout the nation.
Acquiring the San Francisco-based oFlows in 2011 was a major play to become a leader in the banking and lending tech sector.
Greenbytes created a desktop virtualization storage optimization product that has won many awards lately. The company has also received over $31M in funding from Battery Ventures and Generation Investment Management, with the latest round coming earlier this year. Greenbytes also recently (and abruptly) lost their CEO according to an online source.
121nexus was a member of Betaspring's 2012 class and uses technology that was used to monitor voters in the 2012 election to track down counterfeit medical products and transmit recall notifications for devices and pharmaceutical products.
EdTrips, a company that has been part of both Betaspring and MassChallenge, still keeps its official address in Providence. The company recently launched its easy-to-use platform to plan and manage educational travel.
ShapeUp, the "leading provider of clinically-proven social networking-powered corporate wellness solutions", was founded by Dr. Rajiv Kumar and Dr. Brad Weinberg in 2006. The company's online platform has over two million users, serving more than 200 employers and health plans in 90 countries.
Momba, the college student life essentials vending machine company, was recently announced as a member of BetaSpring's most recent cohort.
The company, which has its machines in dorms at Harvard (where founder Steven Duque went to school), Westfield State, BU, and UMass, created a vending machine that distributes much needed supplies, like cold medicine, clothes, or toothpaste, to college-dorm-dwelling students.
Quitbit, another new Betaspring company, has created a lighter that aims to help you quit smoking. Quitbit's product tracks a users smoking habits and helps them with a smoking reduction process.