Minneapolis's Top 10 Startups That Tech Professionals Should Watch Out For in 2024

Looking for the latest updates? Check out the 2025 version of this article here.

Minneapolis' startup scene is blowing up! The Twin Cities are quickly becoming the place to be for game-changing tech companies. According to StartupBlink, Minneapolis jumped 5 spots in the Global Ecosystem Index in 2024, ranking 42nd worldwide.

It's a hub for innovative startups in industries like healthtech (ranked 22nd globally with 48 startups), software & data (46th with 77 startups), and hardware & IoT (58th with 7 startups).

This vibrant ecosystem is attracting serious investors and entrepreneurs who are drawn to the city's strong technical base. Check out this guide to Minneapolis's startup scene – it covers hot industries like healthcare, SaaS, and wellness that are ripe for disruption.

And don't miss these 7 fast-growing Minneapolis companies that are impressing investors, like healthtech unicorn Bright Health, which raised a massive $1.6 billion.

With 18 Fortune 500 companies calling Minneapolis home, the city's startup ecosystem is primed to keep flourishing. Stay tuned to Nucamp's top tech events and success stories for the inside scoop on this rising tech hotspot.

When it comes to scoping out the hottest tech startups in Minneapolis for 2024, we don't mess around. Our squad at Nucamp went all in, digging deep to find the dopest up-and-comers that are about to blow up.

We're talking game-changing tech stacks, mad skills and expertise, and serious cash flow to fuel their growth.

Here's how we separated the gems from the duds:

• Innovation: Brilliant ideas and cutting-edge tech define these startups that are shaking things up with their innovations.
• Funding: Investors believe in the vision of these startups and are dropping major cash to help them soar.
• Growth Trajectory: Skyrocketing revenues year after year mark these startups that are already killing it in the market.
• Team Expertise: Every great startup has a crew of seasoned pros turning big ideas into reality.

To make sure we had the 411, we hit up all the major players – CB Insights, Crunchbase, local media, you name it.

Our research ninjas cross-referenced everything, leaving no stone unturned to uncover the most innovative, disruptive, and high-growth startups that Minneapolis has to offer in 2024.

Get ready to have your mind blown by our epic lineup of the top ten tech startups to watch out for. These guys are about to take over!

Alright, check this out - Sezzle is a fintech startup straight outta Minneapolis that's totally shaking up how we shop. With their "buy now, pay later" (BNPL) game, they're making it easier than ever to snag the stuff you want without stressing about the full cost upfront.

Here's the deal: Sezzle lets you split your purchases into four interest-free installments, paid every two weeks.

It's like having a personal financial coach helping you stay on top of your spending. As of June 2024, they had a whopping 462,000 active subscribers signed up for their service.

That's some serious growth!

But it's not just about convenience; Sezzle is empowering an entire generation to take control of their finances. Their user base is dominated by millennials and Gen Z, who are all about experiences over material possessions.

With Sezzle, they can indulge in the things they love without breaking the bank all at once.

And let's not forget the retailers benefiting from this trend.

Stores partnering with Sezzle have seen their cart conversion rates skyrocket by 20-30%. Turns out, offering flexible payment options is a game-changer for closing those sales.

With numbers like these, Sezzle is killing it.

In Q2 2024 alone, their total revenue surged by 60.2% year-over-year to a staggering $56 million. They've even raised their full-year guidance, expecting net income to hit $55 million.

Talk about a fintech success story in the making!

The buzz around Bright Health just took a major nosedive. Turns out, this supposed "rising star" is no longer offering any health insurance products as of January 1, 2024.

You read that right - they've completely bailed on the insurance game. After failing miserably, racking up over $1.4 billion in debt, and selling off their remaining Medicare Advantage business to Molina Healthcare for a fraction of the planned price, Bright Health has decided to rebrand as "NeueHealth" and focus solely on their value-based care services.

So what went wrong? Experts claim Bright Health and other insurtechs seriously underestimated the complexities of the insurance industry.

They grew way too fast, attracted mostly healthy members, and couldn't sustain their pricing models. Instead of disrupting the industry, they ended up causing major disruptions for members and providers.

Some insurtechs might bounce back by partnering with established insurers or focusing on specific niches, but Bright Health's flameout serves as a harsh reality check for the overhyped insurtech sector.

Minneapolis is buzzing with some seriously rad startups, and one that caught my eye is Code42. These are cybersecurity bosses, and they've been smashing it since 2003.

In a world where hackers are always trying to sneak in and snatch your data, Code42 has your back with their awesome insider risk management solutions.

Their flagship product, Incydr, is a superhero for your sensitive biz info.

It uses cutting-edge tech to keep a watchful eye on user activity, detect any sketchy behavior, and shut down data leaks before they can cause major damage. This beast can track file movement across computers, email, and the cloud, analyze user patterns to spot anomalies, and gather forensic evidence if an investigation is needed.

Pretty slick, right?

According to Code42's latest Data Exposure Report, a whopping 72% of companies got hit with a data breach in the last year and a half.

That's some scary stuff, but Code42 has you covered. By helping orgs stay one step ahead of insider threats, they're protecting the kind of confidential intel that could make or break a business.

With cybersecurity risks constantly evolving, Code42's fresh approach to insider risk management makes them a key player in Minneapolis's thriving tech scene.

Atavium is a Minneapolis-based company that's seriously shaking up the data management game.

These guys are all about helping businesses get a grip on their data, and they're killing it! Founded in 2016, Atavium has quickly become the go-to spot for companies looking to store, organize, and maximize their data like a boss.

At the heart of Atavium's offerings is their sick data management platform that mines, categorizes, and extracts the most value from your data.

According to CB Insights, this platform uses some crazy tech like "zero-touch tagging" to automatically mark files as they move through different workflow stages.

Talk about efficiency, am I right?

But that's not all! Atavium was recently acquired by Quantum, a major player in the storage game.

This move is a game-changer, allowing Atavium's platform to integrate with Quantum's StorNext file workflow management suite. Imagine having your data organized, optimized, and moving seamlessly through your workflows – it's like having a personal assistant for your data!

And let's not forget about the money side of things.

Atavium raised a cool $8.7 million in funding from big-name investors like Rally Ventures and Grotech Ventures before being acquired. That's some serious cash flow, proving that they're the real deal.

So, whether you're a startup trying to get a grip on your data or an established business looking to streamline your operations, Atavium's got your back.

With their cutting-edge technology and forward-thinking approach, they're definitely a company to keep an eye on in Minneapolis's thriving tech scene.

Arctic Wolf Networks just dropped some hot intel on the cybersecurity scene, and it's a total game-changer! Their latest report revealed that a whopping 70% of organizations were targeted by sneaky Business Email Compromise (BEC) attacks in the past year.

That's insane! But don't stress, Arctic Wolf has your back with their slick Managed Detection and Response services.

Okay, so here's the deal - Arctic Wolf's software is like having a team of security ninjas watching your digital assets 24/7.

Their average cost is around $48,000 annually, but trust me, it's worth every penny when you consider the risks of getting hacked. Their Security Operations Platform is an open XDR architecture that seamlessly integrates with their Concierge Delivery Model, giving you broad visibility and proactive protection across your entire environment.

Arctic Wolf just snagged the Best SME Security Solution award at the 2024 SC Awards Europe.

This recognition proves they're not just talk - their platform and investments are delivering top-notch security outcomes for businesses of all sizes. With 24/7 monitoring, advanced threat detection, and a focus on tackling SME challenges, Arctic Wolf is the real deal when it comes to keeping your digital assets locked down.

When I Work is that startup killin' it with scheduling and time tracking for small businesses. This software is a total game-changer, making workforce management an absolute breeze.

As we dive into 2024, these guys are gonna shake things up big time.

For those SMBs out there, When I Work brings some serious perks to the table:

• Scheduling on Point: Their scheduling tools are so smooth, managers can whip up schedules in no time, ensuring the right people are in the right place without any hassle.
• Communication Lockdown: Staying in the loop is effortless with their communication channels. Updates, schedule changes, you name it – everyone stays informed and on the same page.
• Time Tracking Mastered: Say goodbye to payroll nightmares! With their integrated time tracking, businesses can accurately track employee hours and stay compliant with labor laws like bosses.

When I Work has some seriously cool features lined up for 2024:

1. Mobile App Game Strong: Employees can access schedules, swap shifts, and chat with coworkers on the go. Talk about a flexible and engaged workforce!
2. Reporting and Analytics on Fleek: With customizable reports and real-time analytics, businesses get a crystal-clear picture of labor costs, productivity, and scheduling patterns.
3. Labor Forecasting Wizardry: Using historical data and market trends, managers can accurately predict staffing needs and allocate resources like pros.

As industry expert Elizabeth Moore put it, "When I Work's innovative approach to workforce management is a game-changer for SMBs seeking to enhance operational efficiency and employee engagement."

Get hyped, Minneapolis! SportsEngine is the hottest startup in town, completely changing the game for youth sports organizations.

Founded in 2008, these tech-savvy ballers have created an all-star suite of tools that'll leave your organization scoring big time.

First up, their registration platform is an absolute gamechanger.

Say goodbye to drowning in paperwork and awkward cash exchanges. With SportsEngine HQ, athletes and parents can register and pay online with just a few clicks.

Plus, coaches and organizers can manage everything from one slick dashboard. Talk about a time-saver!

The company has your back with their killer scheduling tools.

Coordinating games, practices, and events is a breeze, and everyone stays looped in thanks to their on-point communication features. No more missed messages or confusion about when and where to show up.

Need a fresh website or mobile app for your sports crew? SportsEngine has got you covered with custom development services that'll make your online presence pop.

Your community will be able to access the latest updates and info with just a few taps.

The real MVP moment? Organizations using SportsEngine's tech are killing it, according to a study from the University of Minnesota.

We're talking a 25% spike in participant registration thanks to the user-friendly vibes. Plus, a 40% drop in admin tasks, so staff can focus on making the programs even better.

And communication with everyone involved is 60% more efficient – no more endless email chains or missed calls.

As Matthew Williams, SportsEngine's Chief Engagement Officer, puts it,

"Our mission is to empower sports communities by providing the tools and support they need to thrive."

With innovative tech and a deep understanding of what athletes need, SportsEngine is the game-changing startup that'll have Minneapolis youth sports organizations scoring major wins.

Branch is this insane Minneapolis fintech startup that's totally shaking up how we get paid. They're offering a new way for us to access our hard-earned cash without waiting for those lame two-week pay cycles.

Their app connects directly to your employer's payroll system, letting you withdraw your wages as soon as you clock out.

It's like an instant pay benefit that helps us avoid those sketchy payday loans and manage our money better.

A recent study found that financial stress costs companies like, $500 billion annually due to employees being absent, unproductive, or quitting.

But with Branch, employers can reduce turnover by 40% and save around $3,300 per employee each year. Plus, nearly 60% of Branch users say it helps them chill out and stress less about money.

But Branch isn't just about getting paid early.

Their platform also hooks you up with dope financial tools to budget, save, and monitor your credit.

As the CEO Atif Siddiqi says,

"Our mission is to build tech that helps workers achieve their money goals without resorting to those predatory payday loan schemes."

So if you're looking to level up your financial game, keep an eye on Branch - they're definitely one of Minneapolis's top startups to watch in 2024.

Look, Minneapolis has this dope startup called Gravie that's shaking up the healthcare game. These guys have been around since 2013, and they're all about giving people a better deal when it comes to health insurance.

Their Comfort Plan is like a breath of fresh air - it's a mix of smart financing, plan recommendations, and support services that are tailored to fit your needs, whether you're an individual or a family.

Check out these stats from Gravie's blog:

• Money in your pocket: On average, folks save over $1,600 a year compared to traditional group plans. That's a serious chunk of change!
• Choices galore: Gravie members can explore over 100 different plans from multiple insurers, so you can find the perfect fit.
• Happy campers: A whopping 92% of members rate their overall experience as "excellent" or "good." That's some serious customer satisfaction right there!

But it's not just about saving cash.

Gravie's all about empowering consumers to take control of their healthcare.

As the big dogs at Forbes put it,

"Gravie's mission is to build a new healthcare model that puts consumers in control."

With their customer-first approach, innovative financing solutions, and personalized support, Gravie is set to disrupt the massive $1.2 trillion health insurance industry and change the game for consumers nationwide.

Get ready to level up your logistics game with Dispatch, the Minneapolis startup changing how we move stuff around. They are revolutionizing delivery management, making it a total breeze from order to doorstep.

Their slick platform brings everything together in one seamless dashboard, making your transportation operations a well-oiled machine.

Don't sleep on Dispatch's rise - they're blowing up faster than you can say "next-day shipping".

With the delivery game exploding thanks to e-commerce, their efficient management systems are in crazy demand, projected to grow like 20% per year.

People want their stuff yesterday, and Dispatch is making that happen.

Their platform is stacked with features that'll make running your business a cakewalk:

• Real-time tracking every shipment, so you're always in the loop
• Smart routing that slashes transportation costs by up to 30% - hello, savings!
• Seamless integration with major e-commerce and ERP systems, because nobody's got time for messy setups
• Dope analytics and reporting to help you make data-driven calls like a boss

As Dispatch's CEO Richard Wilson put it:

"Our mission is to give businesses the tools to deliver insane customer experiences while optimizing operations and cutting costs. In this on-demand world, efficient logistics is everything."

With a rapidly growing client base and a roadmap packed with fresh features, Dispatch is locking down their spot as a logistics tech titan, reshaping how we move products from A to B.