Meet The 30 Highest-Funded Members of 2020 Forbes 30 Under 30
(Source: forbes.com)

clicks | 2 months ago | comments: discuss | tags: cryptocurrency


Article preview (bot search)

(Original link: forbes.com)

Venture capital is throwing big bucks at young entrepreneurs. Collectively, the members of the 2020 Forbes 30 Under 30 list have raised well over $1 billion. Our 2020 30 Under 30 Big Money list highlights founders from across the 20 Under 30 categories who’ve raised more than $15 million. The highest funded startup of the 2020 Under 30 list is digital health clinic company Ro with a whopping $176 million in venture money from investors like FirstMark and Reddit founder Alexis Ohanian, giving the two-year-old company a $500 million valuation (Disclosure: Forbes has a small investment in Ro). Cofounder Zachariah Reitano started Ro in May 2017, inspired by his horribly awkward experience discussing his erectile dysfunction with his doctor (this discussion led to Reitano’s heart issue diagnosis, resulting in surgery a few days later). Now, Ro has three core products: Roman for men, Rory for women and Zero for addiction—mediated through online doctors’ appointments and fulfilled with prescriptions sent to patients’ doors.
It’s clear from our Big Money startups that VCs are hungry for food innovation. Take Snackpass, which then-Yale student Kevin Tan cofounded with Jonathan Cameron and Thiel Fellow Jamie Marshall to make takeout, rather than delivery, a staple of college dining. Today the company has $23 million in funding and over $10 million in gross merchandise volume. And there’s a serious appetite for sustainable meat alternatives—Clara Foods makes egg proteins using a yeast fermentation process that removes chickens from the entirely. For chicken-less eggs, the company, cofounded by 27-year-old Arturo Elizondo , has raised $45 million from major food companies like Ingredion.
Of the 20 Forbes 30 Under 30 list categories, Enterprise Tech occupies the most real estate on the Big Money list—claiming nine out of 30 spots, reflecting the climate for digital solutions to better business operations. Security is a theme among these thick-pocketed Enterprise Tech Under 30s. There’s CyCognito, which has attracted $23 million to simulate hacking scenarios to identify weak spots in company computing systems, Persona— Rick Song and Charles Yeh’s $17.5 million-backed customer verification company—and Nightfall AI, a secure solution for sensitive and disparate data with $20.3 million in funding.
And though the Big Money list skews male, female founders like Tagomi’s Jennifer Campbell and Black Mountain Metals’ Ashley Zumwalt-Forbes prove that strong women with strong ideas have strong appeal for venture capital investment. Campbell has raised $28 million from Founders Fund and others for her cryptocurrency trading platform Tagomi, which has facilitated trades as large as $130 million for 275 institutional trading clients. Meanwhile, 29-year-old Zumwalt-Forbes’ Black Mountain Metals has attracted $75 million to mine battery metals like cobalt, nickel and copper, which are used to power electric vehicles.
From brand-based couponing to video-based bug reporting, the 2020 Big Money Under 30 list is diverse; yet, the underlying mission of these founders is similar: to improve the lives of their customers while moving the world toward progress. Take the lone 2020 Forbes Under 30 Big Money Listers from the Education list. The Iran-born twin brother cofounders of ApplyBoard built their company to make higher education in America a reality for any international student. With $54 million in funding, 300 employees in eight countries, ApplyBoard has helped 70,000 students around the world apply to American universities by streamlining the visa process, tuition payments, airline travel and more....