The 2024 Change Healthcare cyberattack demonstrates the far-reaching consequences of cybercrime in healthcare. This attack compromised the protected health information of at least 100M people and cost parent company UnitedHealth around $3B.

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The cybersecurity in healthcare market map appeared first on CB Insights Research.

Rather than full automation, the industry is embracing a more nuanced approach where technology augments human capabilities, creating hybrid workplaces where workers are upskilled to work alongside and manage robotic systems. 

Today’s modular and scalable automation solutions enable incremental modernization, allowing logistics providers to start small, prove ROI, and gradually expand their automated operations while maintaining market adaptability. 

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The automated warehouse market map appeared first on CB Insights Research.

Companies are responding by developing solutions like fire surveillance drones to better monitor wildfires, as well as firefighting robots to minimize the severity when they occur. In fact, over 500 US fire departments have already deployed surveillance drones.

To help companies and governments understand the current wildfire tech landscape, we mapped 130 companies across 15 markets. We then organized tech markets by the wildfire lifecycle: 

• Prevention & preparedness: Solutions in this category help forecast extreme weather events — including wildfires — and assess their damage potential. We break this category down into: 1) broader climate & weather risk; and 2) wildfire risk, which includes solutions specifically designed for wildfires.
• Detection & monitoring: These solutions use cameras, sensors, and analytics platforms to detect outbreaks early and track their progression to aid firefighting strategies.
• Firefighting: These technologies — such as drones and robots — support the suppression of wildfires or help create firebreaks to limit their spread.
• Damage assessment: This includes solutions to evaluate the destruction caused by wildfires after they occur.

Please click to enlarge.

To identify players for this market map, we included startups with a Mosaic score of 400 or greater and leading corporations developing wildfire tech. Categories are not mutually exclusive and are not intended to be exhaustive.

Track Mosaic health scores for companies in these markets

Market descriptions

Click the market links below for info on the leading companies, funding, and more.

Prevention & preparedness: Climate & weather risk

Climate & weather financial risk modeling focuses on quantifying the financial impacts of climate change and severe weather events, helping businesses forecast and mitigate monetary losses. Leading companies like Bloomberg and Morningstar serve many industries, from agriculture to insurance to government.

Geospatial analytics analyzes and interprets geographic data (e.g., satellite imagery, GIS) for various industries, providing spatial insights and risk assessments. Startups in this market have raised a combined $508M since 2023 — the most funding of any market in this map.

Weather risk intelligence emphasizes real-time weather monitoring and predictive modeling to reduce operational disruptions and manage day-to-day weather-related risks.

Climate risk intelligence provides deeper analysis of long-term climate change hazards, guiding strategic decision-making and resilience planning for businesses and governments.

Prevention & preparedness: Wildfire risk

Catastrophe modeling simulates large-scale natural disasters (e.g., hurricanes, earthquakes) to estimate potential losses, primarily for insurance and reinsurance purposes.

Wildfire risk intelligence zeroes in on wildfire hazards with analytics and forecasting tools, helping organizations anticipate fire spread and prioritize mitigation. This market has the highest average company Mosaic health score (662 out of 1,000) among wildfire-specific tech markets.

Detection & monitoring

Wildfire detection cameras use specialized imaging (thermal, infrared) to spot fire signatures early and relay alerts from fixed vantage points.

Wildfire detection sensors are ground-based devices that monitor environmental conditions (e.g., temperature, smoke) to detect potential fires in real time.

Fire surveillance drones provide aerial monitoring of wildfires using sensors like thermal imaging, enhancing situational awareness and firefighter safety. Companies in this market typically offer drones for a wider set of applications beyond wildfires. For example, Skydio, which has raised $400M since 2023, serves industries such as industrial inspection and defense, in addition to fire surveillance.

Wildfire detection & monitoring platforms integrate satellite/aerial data, IoT sensors, and AI in a software platform to track and predict wildfire behavior at scale. ICEYE and Pano AI rank as leading startups here, offering solutions for enterprises and governments through platforms that use advanced imaging systems and AI models to predict potential wildfire locations and facilitate real-time detection and monitoring.

Firefighting

Firefighting drones actively suppress fires by delivering water or fire-retardant agents, often equipped with thermal imaging to pinpoint hotspots. This is among the most nascent markets in the map, with 89% of deals since 2023 going to early-stage companies.

Firefighting robots are ground units equipped with sensors and suppression tools (e.g., water cannons), enabling safer and more efficient fire combat in hazardous areas.

Autonomous heavy equipment encompasses self-operating machinery (e.g., bulldozers, loaders) used in construction, mining, or creating firebreaks, reducing human risk.

Damage assessment

Drone inspection & damage assessment uses drones to capture high-resolution imagery of properties for quicker, more accurate insurance claims evaluations.

Aerial & satellite claims assessment leverages imagery from planes or satellites to evaluate property damage — often focused on large-scale or remote loss scenarios.

RELATED RESOURCES FROM CB INSIGHTS:

• Weather risk intelligence funding surges as extreme weather events pile up 
• Wildfires are causing insurers to leave markets. Can wildfire risk analytics reverse this trend? 
• The Aerospace & Space Tech expert collection
• The Insurtech expert collection
• The satellite & geospatial tech market map
• The AI in defense tech market map

For information on reprint rights or other inquiries, please contact reprints@cbinsights.com.

The post The wildfire tech market map appeared first on CB Insights Research.

While AI copilots — which work alongside humans to speed up their workflows — currently comprise 90% of company activity, the tech will serve as a stepping stone to more autonomous solutions in the coming years. Eventually, AI agents could manage entire industrial processes, shifting human roles from operational tasks to strategic oversight.

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The industrial AI agents & copilots market map appeared first on CB Insights Research.

For health system CIOs, digital health investors, and life sciences executives, this list spotlights companies to explore for technology adoption, investment opportunities, and strategic partnerships as healthcare shifts toward AI-driven infrastructure, advanced diagnostics, and specialized care platforms.

Four key themes emerged from this year’s cohort:

• • AI will become foundational to infrastructure across healthcare, as evidenced by 36 of the 50 companies building AI products, from insurance claim copilots (Alaffia Health) to specialized healthcare LLMs (Hippocratic AI). These startups reflect the start of a broader shift for AI from powering point solutions to becoming an essential part of healthcare delivery for patients.
  • Diagnostic innovations continue to dominate, representing the most crowded category on last year’s list and tying for the largest category this year, with 11 companies developing tools across imaging (Airs Medical), pathology (Proscia), and non-invasive diagnostics (Alimetry). These next-generation diagnostics look to make testing more accessible and non-invasive while prioritizing early detection.
  • Virtual and hybrid care companies more than doubled in this year’s cohort, with 11 companies in this category, up from 5 last year. The increase reflects the growing number of specialized platforms in areas including mental health (Talkiatry) and cancer care (Resilience), signaling the shift from general telemedicine toward condition-specific virtual care models.
  • Workflow efficiency emerges as a key priority heading into 2025, with 19 companies streamlining administrative and clinical tasks, from medical document processing (Tennr) to ambient documentation (Abridge). The surge of automation solutions here signals that healthcare organizations will prioritize efficiency amid staffing shortages to help shift provider time from paperwork to patient care. 

Discover all 50 winners in the Expert Collection

Our selection of winning companies followed a rigorous three-step process.

From a pool of 10,000+ digital health startups, we analyzed companies using CB Insights’ proprietary metrics — Commercial Maturity and Mosaic scores — along with additional data on partnerships, funding, patents, leadership, and headcount.

Companies with high Mosaic scores (> 500) and recent market activity advanced to our shortlist of 1,500 candidates. We supplemented this analysis with direct company submissions via Analyst Briefings.

Our analysts then evaluated strategic partnerships, market adoption, and growth metrics to identify the 50 most promising digital health companies.

2024 DIGITAL HEALTH 50 COHORT HIGHLIGHTS 

Funding and deals

The 2024 Digital Health 50 companies have raised $3.5B across 171 disclosed equity deals (as of 11/14/2024). Monogram Health and Abridge lead the cohort in disclosed equity funding, with $555M and $208M, respectively.

In 2024 so far, the cohort has raised $1.6B across 47 disclosed equity deals. The largest deals include:

• Abridge — $150M Series C
• Superluminal Medicines — $120M Series A
• Grow Therapy — $88M Series C
• CytoReason — $80M Series A
• Ambience — $70M Series B

The recipients of these top deals are largely focused on 2 AI applications: streamlining clinical documentation (Abridge and Ambience) and accelerating drug discovery (Superluminal Medicines and CytoReason).

See all equity deals raised by the 2024 DH 50

Stage breakdown

Fifty-six percent of the 2024 Digital Health 50 companies are early-stage (seed or Series A). In comparison, 44% of winners are mid-stage (primarily Series B or C) companies.

Top investors

Andreessen Horowitz leads VC investors (including CVCs) in the number of 2024 Digital Health 50 winners backed (8). Its investments span various areas within digital health, including:

• D2C health testing — Function Health
• Clinical intelligence — Ambience, Hippocratic AI, Scribenote
• Virtual & hybrid care — Talkiatry, Pomelo Care
• Price transparency — Turquoise Health
• Administrative workflow optimization — Tennr

Andreessen Horowitz is followed by BoxGroup, General Catalyst, and NVentures (Nvidia’s venture arm), each with 5 winners backed. 

All 5 of NVentures’ portfolio companies are building AI products. They are split between clinical intelligence (Hippocratic AI, Abridge, Artisight) and drug discovery (Iambic Therapeutics, Superluminal Medicines).

Healthcare systems and other big tech players are also active investors in the 2024 Digital Health 50. Mayo Clinic, Memorial Hermann, and Google Ventures have each invested in 3 companies on this year’s list.

Geographic distribution

This year’s Digital Health 50 companies are headquartered across 9 countries. Most companies (36) are based in the United States.

Germany has the largest representation outside of the US — 3 companies are headquartered in the country. It is followed by Canada, Israel, South Korea, and the United Kingdom, each with 2 companies. 

Additional countries represented include New Zealand, Belgium, and France, each with 1 company.

Headcount growth

The 2024 Digital Health 50 companies collectively employ more than 7,500 people, with 4 companies employing about 40% of the cohort’s workers: Grow Therapy, Nourish, Monogram Health, and Octave. 

Three companies — Tennr, Nourish, and Pomelo Care — have demonstrated the strongest headcount growth over the past year, with 12-month (September 2023–2024) headcount increases of 320%, 250%, and 244%, respectively. 

This year’s winners collectively created more than 2,900 jobs over the period, with Grow Therapy creating the most jobs (800).

The median 2024 Digital Health 50 winner has raised $487K in equity funding per employee. Superluminal Medicines leads the pack, raising $8.1M per employee, followed by Chai Discovery ($4.3M) and Iambic Therapeutics ($2.6M).

Company health

The average Mosaic score — a proprietary measure of private company health and growth potential — for the 2024 Digital Health 50 is 771 out of 1,000 (as of 11/14/2024). 

Forty companies in this year’s cohort have a Mosaic score of 700 or higher, placing them among the top 4% of private companies tracked by CB Insights. 

Midi and Nourish lead the cohort with the highest scores — 932 and 887, respectively.

The post Digital Health 50: The most promising digital health startups of 2024 appeared first on CB Insights Research.

To help financial institutions identify genAI companies to pay attention to, we analyzed the genAI vendor landscape and mapped 55 companies serving financial services use cases across 14 markets. Key themes across the map include:

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The generative AI in financial services market map appeared first on CB Insights Research.

For companies interested in the future of fintech, these startups — working on everything from deploying novel AI solutions across the landscape to expanding access to financial services — should be on your radar for partnership and investment opportunities.

The list primarily includes early- and mid-stage startups driving innovation across fintech. Our research team picked winning companies based on CB Insights datasets, including deal activity, industry partnerships, team strength, investor strength, employee headcount, and proprietary Commercial Maturity and Mosaic scores. We also dug into Analyst Briefings submitted directly to us by startups.

Please click to enlarge.

Here is a summary of the 2024 Fintech 100 cohort highlights:

• The 100 winners include 13 wealth management companies, 11 in embedded finance, and 10 in insurance.
• $7.2B in equity funding raised over time, including more than $2B in 2024 so far (as of 10/23/2024).
• Nearly 50% are early-stage companies (primarily seed/angel or Series A).
• 52 companies from outside the United States, across 23 countries on 6 continents. This includes 17 companies from 11 emerging and developing economies.
• 850+ business relationships since 2022, including with industry leaders like Mastercard, State Street, and Flipkart.

Companies are categorized by their primary focus area and client base. Categories in the market map are not mutually exclusive.

CB Insights customers can interact with the entire Fintech 100 list here and view a detailed category breakdown using the Expert Collection.

2024 FINTECH 100 COHORT HIGHLIGHTS

Funding and valuations

The 2024 Fintech 100 winners have raised $7.2B across 370+ disclosed equity deals to date (as of 10/23/2024).

Gaming payments company Coda Payments and rent rewards company Bilt Rewards lead all winners in disclosed equity funding (with $715M and $560M in funding, respectively). 

In 2024 so far, this year’s winners have raised just over $2B across 72 disclosed equity deals.

Three winners have raised mega-rounds ($100M+ deals) in 2024 so far: 

• Bilt Rewards — $200M Series C, $150M Series C – II
• Akur8 — $120M Series C
• FundGuard — $100M Series C

Just 5 companies on this year’s list have reached unicorn status (a $1B+ valuation). Amid the broader venture slowdown, just one winner has hit unicorn status in 2024 so far: Pennylane, a France-based financial management and accounting platform for businesses.

Customers: explore all Fintech 100 deals

Stage breakdown and commercial maturity

Nearly half — 48 — of this year’s Fintech 100 winners are early-stage companies (primarily seed/angel or Series A).

More than 60% of the companies on the list (62) have a CB Insights Commercial Maturity score — which measures a private company’s current ability to compete for customers or serve as a partner — of 4, or Scaling. This indicates they are gaining market traction and growing clients, partners, headcount, and revenue. 

Twenty-six winners have a score of 3, or Deploying, which means they have validated ideas and are beginning commercial distribution.

Top investors

Plug and Play Ventures leads all venture capital (VC) firms, including CVC firms, in the number of winners backed. The 2024 Fintech 100 companies in its portfolio operate across financial management and accounting (Finally), capital markets (FundGuard), payment acceptance (AiFi, Fintoc), banking (Tuum), wealth management (Boldin), and payroll (WorkPay). 

Meanwhile, General Catalyst leads in the total number of investments in the 2024 Fintech 100, as it has invested 13 times across 6 companies. It has invested in Bilt Rewards, financial management & accounting firm Collective, alternative credit scoring company Nova Credit, cross-border payments platform Finom, student loan management platform Summer, and AI agent Powder.

Geographic distribution

Just over half (52) of this year’s Fintech 100 winners are based outside of the United States. The United Kingdom leads all non-US countries with 12 winners, and Canada and Singapore are tied for second with 6 companies each. 

Seventeen companies on this year’s list come from 11 emerging and developing economies (Brazil, Chile, Colombia, Egypt, India, Kenya, Pakistan, United Arab Emirates, South Africa, Thailand, and Uruguay). Many of these winners are focused on solutions driving financial inclusion and accessibility for groups like small businesses and consumers building their credit.

Headcount growth

This year’s Fintech 100 winners collectively employ more than 18,000 people. Median year-over-year headcount growth is more than 30%.

Bilt leads all winners with $3.1M in equity funding per employee. Embedded finance company Brim Financial, blockchain company Fnality, and Coda Payments are tied for second with $1.6M per employee.

Company health

Eighty-three of this year’s winning companies have a CB Insights Mosaic score — a proprietary measure of private company health and growth potential — of at least 700 out of 1,000 (as of 10/23/24). Compared to all private companies — fintechs or otherwise — with Mosaic scores, these 83 winners rank in the top 4% by Mosaic score. 

Bilt Rewards leads the cohort with a score of 952. Nova Credit and Arta are tied for second with 883.

Winners deploy AI across a variety of use cases

AI’s dominance in the venture market and broader tech conversations is reflected in this year’s Fintech 100 cohort. 

Several winners have developed AI solutions to automate financial services operations. For example, Alkymi and Saphyre are among the handful of companies using AI to analyze and extract data from financial documents.

But winners are also deploying AI within specific financial services sectors, including embedded finance, compliance, and insurance.

For instance, Gynger uses AI and data analytics to quickly approve and underwrite financing. The company is backed by PayPal Ventures and Google’s AI-focused venture arm Gradient Ventures. 

Meanwhile, Norm Ai offers AI agents for compliance teams, enabling them to assess content or actions against regulatory requirements. The company raised a $27M Series A round in June 2024 from investors including Bain Capital Ventures and Citi Ventures.

Delos Insurance Solutions, on the other hand, issues property insurance and analyzes satellite data using AI to identify areas with greater wildfire risk. Its founders’ backgrounds in the space industry inform their approach to data gathering via satellite.

Fintechs gear solutions toward financial inclusion and accessibility

Many of this year’s winners are focused on making financial services and technology more accessible to growing customer segments. 

Small businesses are a focus worldwide. This year’s list includes solutions like Sequoia Capital– and Founders Fund-backed Found, which offers banking for self-employed people and small business owners. Meanwhile, Pakistan-based NayaPay offers financial management for consumers as well as small businesses. Singapore-based YouTrip also has both B2C and B2B platforms for cross-border payments, focusing its B2B services on small businesses in southeast Asia. 

Companies in this year’s cohort are also targeting consumers building their financial profiles and wealth. US-based MAJORITY allows individuals to get banked in the US without social security numbers. OTO, meanwhile, offers loans for electric bike and scooter purchases in India. Banks are hesitant to finance the purchases despite strong government support for the vehicles, so the massive consumer market is turning to fintechs.

Meanwhile, companies like Bilt Rewards and CheQ are helping consumers manage their credit and build toward major purchases in different ways. Bilt converts rent payments into points that can be redeemed toward a down payment on a home, and it can also send renters’ on-time payment reports to credit bureaus. 

In India, where credit cards have lower penetration but are growing quickly, CheQ helps consumers pay off all of their credit cards and earn rewards on one digital platform. It aims to support users who are new to the credit system and offers free credit reports and tips on managing credit. The company recently announced a partnership with India’s e-commerce giant Flipkart to enable consumers to earn extra points on purchases during Flipkart’s sale event.

The post Fintech 100: The most promising fintech startups of 2024 appeared first on CB Insights Research.

It’s driving value in both customer-facing experiences and back-end operations. This includes tackling challenges specific to digital retail, like personalizing product merchandising and forecasting inventory needs. 

While customer service has been the dominant focus so far, more advanced use cases are on the horizon. These include multi-application orchestration through solutions like composable AI, which helps synchronize genAI tools across an organization’s e-commerce tech stack. 

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The generative AI for e-commerce market map appeared first on CB Insights Research.

However, semiconductor manufacturing is immensely complex, extending across a vast value chain from the production of ultra-high-purity raw materials to chip design, assembly, and testing.

This complexity, coupled with geopolitical tensions, has made semiconductor manufacturing a focal point for national security and economic policy. Governments and industry leaders are racing to build more resilient supply chains to support critical technologies like high-performance computing and defense systems.

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The semiconductor manufacturing market map appeared first on CB Insights Research.

Nvidia has used its experience developing graphics processing units (GPUs) — which were originally developed for applications like gaming but turned out to be rather good at AI tasks — to become a dominant force in AI infrastructure and applications. 

But a host of established companies and startups are investing heavily to capture a share of the growing AI computing market. This includes building new types of chips specifically for training and running AI models, evolving traditional processors like CPUs and GPUs to better support AI workloads, and exploring novel information processing technologies such as quantum and neuromorphic computing. 

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The AI computing hardware market map appeared first on CB Insights Research.

Tech adoption and integration increasingly allow the industry to address financial needs across an investor’s entire balance sheet. This aligns with investors’ desire for personalized, holistic advice — and presents growth opportunities for wealth managers, who can sell additional products to increase their share of clients’ wallets.

In the past, financial planning software focused mainly on investment management, such as accumulation planning — i.e., calculating how much clients needed to save for retirement.

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The financial planning market map appeared first on CB Insights Research.

Highlights from the 2024 cohort include:

• The 50 winners include 23 tech vendors and 27 insurers and intermediaries.
• $5.6B in equity funding raised over time, including $1B in 2024 so far (as of 8/19/24).
• Forty percent of winners are early-stage insurtechs addressing everything from wildfire risk to genAI-powered workflow automation.
• More than a dozen countries represented, spanning Asia, Australia, Europe, and North America.
• 500+ business relationships since 2020, including with industry leaders like Swiss Re and Tokio Marine.

Our research team picked winning companies based on CB Insights datasets, including deal activity, industry partnerships, team strength, investor strength, patent activity, employee headcount, and proprietary Commercial Maturity and Mosaic scores. We also dug into Analyst Briefings submitted directly to us by startups.

Please click to enlarge.

CB Insights customers can interact with the entire Insurtech 50 list here and view a detailed category breakdown using the Expert Collection.

2024 INSURTECH 50 COHORT HIGHLIGHTS

Funding and valuations

The cohort has raised $5.6B across 210+ disclosed equity deals to date (as of 8/19/24). Next Insurance and Coalition lead in disclosed equity funding among the cohort ($1.1B and $770M, respectively).

In 2024 so far, this year’s winners have raised $1B across 38 disclosed equity deals. Just 5 deals account for more than half of this funding total:

• Altana AI — $200M Series C
• ICEYE — $93M Series D
• Vitesse — $93M Series C
• Cover Genius — $80M Series E
• Hyperexponential — $73M Series B

Altana AI reached a $1B valuation following its Series C round in July 2024. This earned it a spot in the unicorn club alongside the other unicorns in this year’s Insurtech 50 cohort: Accelerant, Coalition, and Next Insurance.

Stage breakdown

Forty percent of this year’s Insurtech 50 winners are early-stage companies (i.e., primarily seed or Series A). These companies are the fastest-growing among those analyzed, with a median 12-month headcount growth rate of 45% — 23 points higher than the median for the rest of the cohort.

Comparatively, 46% of winners are mid-stage (i.e., Series B or C), and 14% are late-stage (i.e., primarily Series D+).

Top investors

MS&AD Ventures has invested in 5 of this year’s winners, leading among venture capital (VC) firms, including corporate venture capital firms. The investor has backed 4 insurance providers — Accelerant, Anzen, Next Insurance, and Wagmo — and 1 tech vendor, Artificial Labs. 

Following MS&AD Ventures are Felicis, General Catalyst, Nationwide Ventures, and Portage — each of these investors has backed 4 winners.

When it comes to investment activity in 2024, Portage leads in the number of winners backed. So far this year, it has backed 3 insurance providers: CoverTree, Faye, and Hellas Direct.

Geographic distribution

This year’s Insurtech 50 winners are collectively headquartered across more than a dozen different countries. 

The majority of these companies (30) are based in the United States. Among US metro areas, New York and Silicon Valley lead the pack, as they are both home to 10 of the winners. These metro areas are followed by Boston (4 winners) and Atlanta (2 winners).

The UK follows the US with 8 winners — 6 based in London and 2 near Birmingham.

Headcount growth

Over 7,700 people are employed by the 2024 Insurtech 50 winners, with 4 companies employing about a third of the cohort’s workers: Next Insurance, Coalition, ICEYE, and Cover Genius.

From July 2023 to July 2024, this year’s winners created more than 1,400 jobs. One winner more than tripled its headcount over the period: Sixfold (+267% YoY).

The median 2024 Insurtech 50 winner has raised $0.6M in equity funding per employee. Altana AI and Next Insurance lead among the winners, each having raised $1.6M in equity funding per employee.

Company health

Forty-one of the 50 winners have a CB Insights Mosaic score — a proprietary measure of private company health and growth potential — of at least 700 out of 1,000 (as of 8/26/24). Compared to all private companies — insurtechs or otherwise — with Mosaic scores, these 41 winners rank in the top 3% by Mosaic score.

Next Insurance and Coalition — with Mosaic scores of 898 and 881, respectively — hold the highest scores among this year’s winners.

AI threads the tech vendor landscape

Most of the winning tech vendors offer AI products, which aligns with the broader momentum toward AI (and generative AI) adoption across the insurance industry. Applications often center on prioritization use cases, like risk ranking for underwriters and claims triage for adjusters.

The winners’ business relationships often incorporate the use of AI. Recent examples with industry figures include:

• Reask and AXA Climate — March 2024
• Akur8 and Tokio Marine HCC — April 2024
• Indico Data and Convex — June 2024

Insurtech managing general agents (MGAs) gain ground

MGAs — intermediaries with delegated underwriting authority from one or more insurance carriers as well as related entities like managing general underwriters — represent a sizable portion of the 2024 Insurtech 50 list. Their presence reflects broader industry momentum toward the business model.

Notably, most insurtechs within the commercial category are MGAs that offer property & casualty insurance to businesses. Established insurers have made strategic investments in several of these companies, including:

• American Family Insurance, which led Ledgebrook’s $24M Series A round in April 2024 via its CVC (American Family Ventures)
• Arch Capital Group, which participated in Rainbow’s $12M seed round in January 2024
• Hiscox, which led Coterie Insurance’s Series B round in March 2024

The post Insurtech 50: The most promising insurtech startups of 2024 appeared first on CB Insights Research.

In the US, checks and cash have already declined from representing half of all B2B payments in 2019 to a projection of less than a third (32%) in 2024, according to eMarketer. In emerging markets, paper’s share of B2B transactions is likely higher, but coming down thanks to the rise of digital commerce and digital operating systems for merchants.

Companies offering B2B payments solutions are digitizing and automating formerly manual processes like creating invoices, processing payments, and analyzing payments data. Many are building platforms that consolidate the steps in the B2B payments value chain in one place, enabling faster and more transparent payments and financing between businesses. 

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The B2B payments tech market map appeared first on CB Insights Research.

As a result, a range of technologies have emerged to address issues across the entire trial lifecycle. These use AI, data analytics, and digital platforms to streamline processes, improve data quality, and boost patient engagement — all with the aim of driving down trial times and costs while increasing success rates.

This market map identifies 96 vendors in 14 categories reshaping clinical trials. This tech ecosystem offers sponsors and research organizations opportunities to conduct more efficient, patient-centric trials that also meet regulatory requirements.

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The clinical trials tech market map appeared first on CB Insights Research.

It’s estimated that robots and other smart machinery will make up as much as one-third of US military presence in the next 15 years, according to Mark Milley, a retired US Army General and former chairman of the Joint Chiefs of Staff.

Unmanned systems already dominate in some areas — like aerial drones — while significant development is underway in bringing autonomous tech to the ground, ocean surface, and underwater domains.

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The AI in defense tech market map appeared first on CB Insights Research.

Longevity is a rather nascent but growing area of research for the biopharma industry — especially as tech advances in areas like AI and omics make it easier than ever to identify ways to manipulate the aging process. Existing consumer applications primarily focus on individuals wanting to stay healthy for longer, but the tide is shifting to products and services that slow or even reverse aging.

The rise of longevity tech will not just affect healthcare. Humans living longer, healthier lives would upend all sorts of societal and economic assumptions — impacting everything from retirement planning to insurance premiums to the size of the workforce to housing availability to trends in consumer demand. Few industries would be able to ignore the disruption from a longevity boom.

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The longevity tech market map: 64 startups racing to defy death appeared first on CB Insights Research.

Investors have poured nearly $4B into the space in the last 2 years as the rapid development of generative AI (genAI) enables more complex forms of natural language processing.

GenAI has fueled the emergence of not only chatbots like ChatGPT, which leverage large language models (LLMs) to answer user questions, summarize documents, and more, but also copilots (or assistants) that work alongside humans to speed up their workflows. AI agents mark another evolution beyond copilots: they can tackle complex tasks on a user’s behalf with minimal intervention, from sales prospecting to scheduling meetings.

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The enterprise AI agents & copilots market map appeared first on CB Insights Research.

Hundreds of startups — and billions in funding — have flooded the market since then, with equity deals to generative AI startups increasing by over 60% in 2023 compared to the previous year.

Startups are using the tech to create new proteins and drugs, power the next generation of search engines, ship code faster, build next-gen gaming experiences, and much more.

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The generative AI market map appeared first on CB Insights Research.

Broadly, these solutions integrate financial tools into non-financial services. Building them into digital experiences ensures consumers and partners remain there for every part of the customer journey.  

The benefits are drawing businesses across industries to integrate financial tools into their platforms. For instance, banking-as-a-service (BaaS) platforms, which help companies offer features including account opening and deposits, will draw $36B in global revenue in 2024 from account and card fees. That figure is set to grow 2.5x by 2028 to reach $94B, per Juniper Research.

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The embedded banking & payments market map appeared first on CB Insights Research.

The industry is built around encoding information in quantum entities called “qubits” — which have a probability of being either 1 or 0, as opposed to traditional bits that can only be one or the other — to open up new computational approaches and ways of handling data that are not possible on conventional devices.

For example, quantum computing could allow entirely new algorithms that are much more efficient at some key tasks — like complex optimization problems, sorting through large datasets, and running simulations. Though the tech is not yet mature, companies are already working to apply quantum computing to commercial applications like drug discovery, finance, materials discovery, and logistics. Investors are excited — startups in the space saw equity funding surge to $1.3B in 2023, a rare bright spot for venture last year. As quantum computers become more capable in the coming years, expect commercial interest to rise quickly.

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The quantum information market map: The companies working on quantum computing, post-quantum cryptography, and more appeared first on CB Insights Research.

AI and automation offer promising avenues to optimize each step from packaging to distribution to post-delivery medication adherence. Along the way, these technologies offer benefits to the pharmacy industry, like reducing operational costs and streamlining workflow efficiency.

These shifts come at a turning point for the space, as leaders like Rite Aid, CVS, and Walgreens have made recent announcements to close more than 1,500 stores. This contributes to the rise of pharmacy deserts — any area located 10+ miles away from a pharmacy. More than 40% of US counties are now considered pharmacy deserts. 

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The digital pharmacy tech market map appeared first on CB Insights Research.

Highlights from the 2024 cohort include:

• 16 countries represented, from the US to France to South Africa
• 30+ categories of solutions, from foundation models to humanoids
• 68% early-stage startups building virtual worlds, autonomous factories, language models for under-represented languages, and more
• 600+ business relationships since 2016 with industry leaders like Toyota, Netflix, and the World Bank

Our research team picked winning companies based on CB Insights datasets including deal activity, industry partnerships, team strength, investor strength, patent activity, and proprietary Mosaic Scores. We also analyzed CB Insights’ exclusive interviews with software buyers and dug into Analyst Briefings submitted directly to us by startups.

Please click to enlarge.

CB Insights customers can interact with the entire AI 100 list here and view a detailed category breakdown using the Expert Collection.

2024 AI 100 COHORT HIGHLIGHTS

Funding distribution

The cohort has raised over $28B across 240+ equity deals since 2020 (as of 3/22/24). OpenAI has raised over 40% of that total, with $12B. Meanwhile, 25% of the winning companies have raised less than $10M, with some not having raised any venture funding.   

Just over two-thirds (68%) of winning companies are in the early stages of fundraising (seed/angel and Series A) or have yet to raise outside equity.

Valuation trends

This year’s list includes 19 unicorns with a $1B+ valuation.

Meanwhile, Sakana AI — founded by one of the authors of the seminal Google research paper on Transformers — has the highest valuation per employee, at $67M. (It had just 3 employees when it earned its $200M valuation in early 2024.) Sakana is working on new “nature-inspired” AI architectures and recently released 3 Japanese-language models.

Revenue generation

The AI 100 includes a mix of companies at different stages of maturity, product development, and revenue. 

Hugging Face, an AI infrastructure platform focused on open-source development, has one of the highest revenue multiples at 150x ($30M in 2023 revenue at a $4.5B valuation). It’s followed by Perplexity, which is developing an alternative to traditional search engines, at 65x (based on a 2023 valuation of $520M and $8M in 2024 ARR).

Midjourney, an image generation platform that has not raised any outside equity, is one of the leading AI 100 winners by revenue with $200M in ARR.

Global reach 

A total of 31 winning companies in this year’s cohort are headquartered outside the United States, across 15 other countries. This includes South Africa-based Lelapa AI — which is developing language processing tools for sub-Saharan African languages like Afrikaans, isiZulu, and Sesotho — and Canada-based Ideogram, which is tackling the problem of generating images with legible text. 

Europe-based startups account for 19% of the list, including companies headquartered in the United Kingdom, France, and Germany.

Categories & applications 

Over one-third of this year’s winners are focused on building core AI infrastructure, from foundation models to AI chips to AI development platforms. 

A total of 30 vendors are focused on horizontal (i.e., cross-industry) solutions like coding automation, creator tools, and search, while 34 companies are specializing in verticals like gaming, healthcare, education, and manufacturing.

A handful of winners are building niche applications where the use of AI is not yet commonplace. These include:

• Atomic Industries, which is developing AI for tool and die making in manufacturing and is backed by the venture arms of Porsche, Yamaha, and Toyota
• Rosebud AI, a text-to-game generation startup backed by OpenAI co-founders Ilya Sutskever and Andrej Karpathy, as well as Khosla Ventures
• Flawless AI, a startup developing lip-synced video dubbing for the film industry

CB Insights customers can get real-time updates on the AI 100 winners using this home feed.

The post AI 100: The most promising artificial intelligence startups of 2024 appeared first on CB Insights Research.

Threats to grid stability are escalating due to more extreme weather events and sophisticated cyber attacks. Increasing electricity demand due to data centers and electric vehicles exacerbates these challenges, while the global push toward sustainable — yet intermittent — power sources like solar and wind adds further complexities.

There is an urgent need for more power generation diversity and delivery system reliability, as exemplified by incidents like the 2021 Texas freeze and the 2022 California heatwave.

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The grid tech market map: The companies tackling the growing need for reliable electricity appeared first on CB Insights Research.

For instance, diseases that predominantly affect women, such as autoimmune diseases, have been slower to receive funding and research attention.

In recent years, a growing number of femtech startups have emerged to address the issues facing women’s health, and these startups are gaining substantial investment as a result.

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The femtech market map appeared first on CB Insights Research.

At the same time, rising fuel prices and a thinning labor force are pushing other industries like retail and pharma to favor privatized fleets that can better ensure timely delivery of goods to customers. For example, for Walmart, owning its fleet has been key to keeping prices down and ensuring products are in stock.

To successfully run a fleet, operators need to maintain high visibility into freight movement, optimize routes and schedules, and ensure compliance with driver regulations. They’re turning to tech solutions like transportation management and yard management systems to achieve this — as well as tech like AR/VR to train employees on skills like truck loading. 

Want to see more research? Join a demo of the CB Insights platform.

If you’re already a customer, log in here.

The post The trucking tech market map: The startups making fleets more efficient and connected appeared first on CB Insights Research.