50 Fast-Growing Tech Companies & Startups (2024)

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From IoT to robotics, the tech world is changing at a rapid pace.

And thanks largely to the rapid rise of ChatGPT, nearly every industry is scrambling to incorporate generative AI into their business.

With that, here's our list of 50 technology companies seeing significant growth.

1. Perplexity AI

5-year search growth: 7,100%

Search growth status: Regular

Year founded: 2022

Location: San Francisco, California

Funding: $165M (Series Unknown)

What they do: Perplexity has created a free AI search engine. The company's conversational search engine can interpret user queries like a chatbot similar to ChatGPT. It uses a combination of various LLMs, such as OpenAI's GPT-4, Anthropic's Claude 3, and Google DeepMind's Gemini, to provide accurate answers from online sources. 

In April 2024, Perplexity launched its first B2B product, Enterprise Pro, which includes user management, single sign-on integration, SOC2 certification, and added data privacy and security features. At the same time, the company reached unicorn status by raising $62.7 million at a $1.04 billion valuation.

2. FlutterFlow

5-year search growth: 9,200%

Search growth status: Exploding

Year founded: 2020

Location: Mountain View, California

Funding: $28M (Series A)

What they do: Founded by two former Google engineers, FlutterFlow is a no-code platform for building mobile Android and iOS apps. The platform is built using Flutter, Google's open-source UI toolkit, which includes 80+ widgets and 170+ pre-built components.

The company closed a $25.5 million Series A funding round in January 2024 to continue scaling its AI and enterprise efforts. The startup currently has over 1.25 million users.

3. Cohere

5-year search growth: 856%

Search growth status: Exploding

Year founded: 2019

Location: Toronto, Canada

Funding: $934.9M (Series D)

What they do: Cohere is an AI startup that primarily develops enterprise-level large language models. The company's three models (Command, Embed, Rerank) focus on language processing and retrieval-augmented generation. Businesses use Cohere models to build and deploy new chatbots, search engines, copywriting tools, and other AI-powered products

In July 2024, the Canadian startup raised $500 million in Series D funding at a $5.5 billion valuation. 

4. Beehiiv

5-year search growth: 9,600%

Search growth status: Exploding

Year founded: 2020

Location: New York, New York

Funding: $50.7M (Equity Crowdfunding)

What they do: Beehiiv is a publishing platform for newsletter creators. With this platform, users can build their email lists, publish newsletters, and monetize using the Beehiiv Ad Network. In April 2024, the startup announced a new $33 million Series B funding round to continue expanding and growing the newsletter platform. The platform has grown to 20,000 active newsletters and 1 billion monthly emails.

5. Photoroom

5-year search growth: 9,500%

Search growth status: Exploding

Year founded: 2019

Location: Paris, France

Funding: $62.1M (Series B)

What they do: Photoroom is an AI photo editing app that makes it easy for users to remove backgrounds and objects from images. Due to the company's rapid growth, they've continued to add new AI editing features like batch photo editing, smart resizing, image enhancement, and more. 

Photoroom's latest $43 million funding round valued the startup at $500 million. The app has been downloaded 150 million times globally, supports over 30 million users, and processes 5+ billion images annually. 

6. Supabase

5-year search growth: 9,600%

Search growth status: Exploding

Year founded: 2019

Location: San Francisco, California

Funding: $116.1M (Series B)

What they do: Supabase is a free, open-source Firebase alternative that provides the tools required for building and deploying mobile and web apps. Because Supabase is not proprietary, developers have more control over their databases compared to Firebase. The startup's free Discord community has over 24,000 active members. 

7. Otter.ai

5-year search growth: 3,233%

Search growth status: Exploding

Year founded: 2016

Location: Mountain View, California

Funding: $63M (Series B)

What they do: Otter is an AI meeting assistant that provides voice-to-text transcription and audio recording in real time. The AI transcriber can identify speakers, extract action items, generate summaries, and capture shared slides. At the end of 2023, Otter announced that it had surpassed 14 million registered users and 50 million meeting summaries. 

8. Groq

5-year search growth: 3,233%

Search growth status: Exploding

Year founded: 2016

Location: Mountain View, California

Funding: $1B (Series D)

What they do: Groq develops AI hardware and software for natural language processing, computer vision, and computing. The company's Language Processing Unit (LPU) technology delivers low-latency, high-efficiency inference for AI workloads. Other products include GroqCloud, GroqWare Suite, and a ChatGPT-like chatbot. 

In August 2024, Groq raised $640 million in Series D funding at a $2.8 billion valuation. 

9. 6AM City

5-year search growth: 10%

Search growth status: Regular

Year founded: 2016

Location: Greenville, South Carolina

Funding: $18.8M (Series A)

What they do: 6AM City is a publishing technology company. Operating as a newsletter-first local news service, it aggregates, curates, and condenses information on multiple cities across the US. This information is then sent daily to its subscribers’ emails.

In February 2024, the startup raised an additional $10 million in Series A funding while supporting 1.4 million free email subscribers.

10. Databricks

5-year search growth: 439%

Search growth status: Exploding

Year founded: 2013

Location: San Francisco, California

Funding: $4.2B (Series I)

What they do: Databricks is a cloud-based data and AI platform that supports data engineering, machine learning, and data analytics teams. The company's Data Intelligence platform combines the capabilities of a data lakehouse with generative AI models to create a unified data and governance foundation. 

Today, Databricks has more than 10,000 global customers, including notable brands like AT&T, Hershey, Nasdaq, and many more. 

11. AdsPower

5-year search growth: 9,300%

Search growth status: Exploding

Year founded: 2019

Location: Singapore, Singapore

Funding: Undisclosed

What they do: AdsPower is an anti-detection web browser that blocks unauthorized browser fingerprinting. It's primarily used by marketers to run multiple ad accounts at once without getting banned on platforms like Google and Facebook. According to the company's latest data, they currently support more than 3 million global users.

12. Flowy

5-year search growth: 105%

Search growth status: Regular

Year founded: 2017

Location: Kosice, Slovakia

Funding: $5.5M (Early Stage VC)

What they do: Flowy is a cash registry software company that tries to differentiate itself through two main features: cloud and AI. Cloud-based software lets businesses access their registry from any device, while AI capabilities help stores conduct inventory analysis and come up with sales forecasts. 

13. Runway

5-year search growth: 9,200%

Search growth status: Exploding

Year founded: 2018

Location: Miami, Florida 

Funding: $236.5M (Series C)

What they do: Runway creates generative AI models for creative applications (videos, images, and multimedia content). Their primary products are Gen-1, a video-to-video generative AI system, and Gen-2, a text-to-video and image-to-video multimodal AI tool. The Runway team also co-created Stable Diffusion, one of the most popular text-to-image AI models.

The startup has raised over $236 million, including investments from Google, Nvidia, and Salesforce. 

14. Avoma

5-year search growth: 9,400%

Search growth status: Exploding

Year founded: 2017

Location: Palo Alto, California

Funding: $15M (Series A)

What they do: Avoma is an AI-powered meeting assistant and conversation intelligence platform built for customer-facing teams. The platform is unique because it's tailored toward sales teams, providing on-call insights, coaching, and conversation scores to shorten sales cycles. The startup has over 900 paid customers and steady month-over-month growth. 

15. Parachute Health

5-year search growth: 332%

Search growth status: Exploding

Year founded: Manhattan, New York

Location: 2015

Funding: $15.4M (Undisclosed)

What they do: Parachute Health is a digital platform for ordering medical equipment and supplies. The platform streamlines the ordering process and allows healthcare providers to digitally ePrescribe durable medical equipment and supplies for patients. The startup also handles the other side of the sales cycle, giving suppliers a portal to receive, manage, and fulfill orders. 

16. LawVu

5-year search growth: 9,400%

Search growth status: Exploding

Year founded: 2015

Location: Gisborne, New Zealand

Funding: $47.1M (Series Unknown)

What they do: LawVu is a cloud-based software designed for in-house legal teams. It is a platform that legal teams can use to communicate, schedule, access documents, and more. Basically, “LawVu is to legal teams what Salesforce is to sales teams.” It's estimated that LawVu generated $13.1 million in revenue in 2023, growing 21.4% YoY. 

17. Probando

5-year search growth: 21%

Search growth status: Exploding

Year founded: 2020

Location: Graz, Austria

Funding: Undisclosed (Seed)

What they do: Probando is an online platform that lets medical organizations recruit participants for their medical research. Participants sign up for free and are paid to take part in various research studies. The startup recently introduced ProbandoPay, a payment management system that allows participants to faster directly to their bank account.

18. Qerko

5-year search growth: 4,900%

Search growth status: Regular

Year founded: 2019

Location: Prague, Czech Republic

Funding: $2.7M (Seed)

What they do: Qerko is a contactless payment platform for restaurants. Customers scan a QR code on their table and this takes them to a payment platform. There, they can pay for the entire meal or they can split the bill so that each individual pays for what they order. This way, Qerko helps restaurants increase the efficiency of their billing process.

Following a successful launch in the Czech Republic, the startup is now eyeing up international expansion into the EU and US markets.

19. Tiba

5-year search growth: 28%

Search growth status: Regular

Year founded: 2021

Location: Sao Paulo, Brazil

Funding: $4M (Seed)

What they do: Tiba is a business management SaaS. It enables SMBs to handle their accounting, payroll, sales and inventory online. According to Tiba, “their solution is built specifically for Brazilian entrepreneurs and thus, helps them overcome daily business management challenges.”

20. Substack

5-year search growth: 4,900%

Search growth status: Exploding

Year founded: 2017

Location: San Francisco, California

Funding: $90.2M (Equity Crowdfunding) 

What they do: Substack is an online platform for writers and content creators to publish newsletters and build a subscription-based audience. Its primary function is connecting creators and readers, as 50% of new free subscribers and 25% of paid subscribers come from within its network.

Writers can start publishing and building an audience for free, but Substack takes 10% of paid subscription revenue from publishers. Today, the company supports over 35 million active subscriptions, which includes 3+ million paid subscriptions. 

21. PlayHT

5-year search growth: 99x+

Search growth status: Exploding

Year founded: 2022

Location: San Francisco, California

Funding: $2.2M (Pre-Seed)

What they do: As one of the fastest-growing AI voice generator tools, PlayHT uses advanced AI and machine learning to create realistic voices from text prompts in 143 languages. The text-to-speech platform offers 600+ AI voice models, voice cloning, team collaboration tools, voice generation APIs, and more.

In October 2023, the startup released PlayHT 2.0 Turbo, which produces text-to-speech outputs within 200-400 milliseconds.

22. Rocket Dollar

5-year search growth: 39%

Search growth status: Regular

Year founded: 2018

Location: Austin, Texas

Funding: $13.5M (Series A)

What they do: Rocket Dollar is a self-directed retirement platform enabling individuals to invest in alternative investments. Specifically, people use the platform to invest in startups, rental properties, cryptocurrencies, and more. The Austin-based company has already topped $650M in invested assets. 

23. Brinter

5-year search growth: 4,500%

Search growth status: Regular

Year founded: 2020

Location: Turku, Finland

Funding: $2.2M (Seed)

What they do: Britner offers 3D bioprinting technology designed to assist in discovering new drugs and understanding diseases. The company's multi-material 3D bioprinting can create personalized BioMod implants, which are 100% biodegradable and intended to promote tissue regeneration for cartilage injuries. It started as a bootstrapped company and is now present in 10 countries after raising seed funding.

24. LogRocket

5-year search growth: 58%

Search growth status: Regular

Year founded: 2015

Location: Boston, Massachusetts

Funding: $55M (Series C)

What they do: LogRocket is a session recording tool for software teams to gauge how visitors are engaging with websites. The platform records user sessions, tracks, and aggregates errors, and provides analytics and insights for each session. Currently, the startup supports over 2,400 customers and has captured more than 3.5 billion sessions since launching. 

25. Kittl

5-year search growth: 4,900%

Search growth status: Exploding

Year founded: 2020

Location: Berlin, Germany

Funding: $49.7M (Series B)

What they do: Kittl is a digital design platform that gives creators access to advanced AI editing tools. Similar to Canva, Kittl offers a library of stock photos, templates, fonts, and illustrations. However, the tool differentiates itself with its AI content generation capabilities, advanced text editing tools, and ownership rights over an asset's actual graphic file.

The company raised $36 million in Series B funding in January 2024. Kittl's CEO, Nicolas Heymann, says the platform has over 1 million customers after growing its user base 9x in 2023. 

26. DoorLoop

5-year search growth: 669%

Search growth status: Exploding

Year founded: 2019

Location: Miami, Florida

Funding: $30M (Series A)

What they do: With the property management market expected to grow past $36 billion by 2028, tech startups are needed to help automate tasks. This is where DoorLoop comes in. The cloud-based property management software streamlines operations for property managers, landlords, and property owners.

This platform covers all aspects of property management, including automated rent collection, online rental applications, tenant screening, maintenance request management, tenant portals, and more. Since its inception, the startup has raised $30 million and grown to 100+ employees. 

27. Suno

5-year search growth: 7,400%

Search growth status: Regular

Year founded: 2022

Location: Cambridge, Massachusetts

Funding: $125M (Series B)

What they do: Suno is an AI music creation tool that can generate realistic vocals and instrumental songs. The company's original product was an open-source text-to-speech model known as "Bark," which was released on GitHub and Hugging Face. The latest V2 and V3 models are now closed-source with free and paid subscription tiers.

Most recently, in May 2024, the startup raised $125 million in Series B funding. 

28. Niyo

5-year search growth: 184%

Search growth status: Regular

Year founded: 2015

Location: Bengaluru, India

Funding: $179.3M (Series Unknown)

What they do: Self-named “India’s leading FinTech company”, Niyo provides an array of digital banking solutions. Digital savings accounts and wealth management are their most popular services but the startup also offers travel cards, lending as well as insurance products. With over 4 million users so far, Niyo is aiming to reach 30 million users by the end of 2026.

29. Gamma

5-year search growth: 6,900%

Search growth status: Regular

Year founded: 2020

Location: San Francisco, California

Funding: $19M (Series A)

What they do: Gamma is a generative AI platform where users can create visual and interactive presentations, websites, and documents. Core Gamma features include instant AI content creation, one-click restyling, team collaboration tools, and more. The startup closed a $12 million Series A funding in May 2024. 

30. Roboflow

5-year search growth: 8,200%

Search growth status: Regular

Year founded: 2019

Location: Des Moines, Iowa

Funding: $22.2M (Series A)

What they do: A computer vision platform, Roboflow is equipping developers and engineers with the tools needed to build and deploy new CV models. The platform can handle data labeling, model training, data annotating, deployment, and more. According to the startup's website, more than 500,000 developers are using Roboflow today. 

31. Flo Health

5-year search growth: 525%

Search growth status: Exploding

Year founded: 2015

Location: London, England

Funding: $276.1M (Series C)

What they do: Flo Health is the developer behind Flo, a popular ovulation and period tracker app for women. Inside the app, users can track their cycles, predict symptoms, manage their health, and more. According to the startup, they support more than 380 million users today. 

32. Deepgram

5-year search growth: 3,067%

Search growth status: Exploding

Year founded: 2015

Location: San Francisco, California

Funding: $85.9M (Series B)

What they do: Deepgram is a voice AI platform that offers speech-to-text, text-to-speech, and audio intelligence APIs. Primarily used by developers and enterprise organizations, Deepgram makes it possible for users to build voice-enabled applications. In 2023, the company hit $10.3M in revenue. Some of their customers include NASA and BigVu.

33. Airwallex

5-year search growth: 717%

Search growth status: Exploding

Year founded: 2015

Location: Melbourne, Australia

Funding: $902M (Series E)

What they do: Airwallex is a global fintech platform that provides business banking, core API, and embedded finance solutions. Their primary offering, global business accounts, lets companies open multi-currency accounts in 60+ countries, accept payments in 180+ countries, and make transfers to 150+ countries.

In addition to cross-border payments, the company's suite of financial services includes corporate cards, payroll and expense management tools, and third-party integrations. The company has raised over $900 million at a $5.2B valuation. 

34. Sol-IT

5-year search growth: 82%

Search growth status: Regular

Year founded: 2018

Location: Utrecht, Netherlands

Funding: Undisclosed

What they do: Sol-IT develops SaaS solutions for various industries. Their most recent project, Laura.app, collects business performance data and uses AI to build forecasts and develop other operational insights. 

35. Anthropic

5-year search growth: 3,550%

Search growth status: Exploding

Year founded: 2021

Location: San Francisco, California

Funding: $9.7B (Series D)

What they do: Anthropic is a research and safety company developing large-scale AI systems. The company's flagship product is Claude, a generative AI-powered chatbot that aims to create helpful, accurate, and harmless content. As one of the most heavily funded AI startups behind OpenAI, Anthropic raised an additional $2.75 billion ($4B total) from Amazon in March 2024. 

36. Protect AI

5-year search growth: 1,850%

Search growth status: Exploding

Year founded: 2022

Location: Seattle, Washington

Funding: $108.5M (Series B)

What they do: Protect AI is a cybersecurity company that develops AI and machine learning systems. Notable products offered by Protect AI include Guardian, a scanning and enforcement tool that can block unsafe models, and Radar, an AI risk assessment and management solution. Due to the company's 300% year-over-year team growth, they raised $60 million in Series B funding in August 2024 to continue expansion. 

37. Livekit

5-year search growth: 99x+

Search growth status: Exploding

Year founded: 2021

Location: San Jose, California

Funding: $36M (Series A)

What they do: Livekit has created an open-source platform that allows developers to integrate real-time audio, video, and data capabilities into web and mobile applications. The startup's platform can handle 100,000 simultaneous users in a single session with low latency and high-quality streaming. In March 2024, the company raised $22 million in Series A funding. 

38. Sunbit

5-year search growth: 809%

Search growth status: Exploding

Year founded: 2016

Location: Los Angeles, California

Funding: $770M (Debt Financing)

What they do: Sunbit is a BNPL fintech company offering point-of-sale lending for unexpected expenses like dental care and legal expenses. After getting approved, consumers can choose a 3, 6, or 12-month payment plan for their expenses. Today, Sunbit works with over 23,000 merchants and approves 90% of applicants.

39. FitForce

5-year search growth: 376%

Search growth status: Exploding

Year founded: 2019

Location: Bangkok, Thailand

Funding: $250K (Early Stage VC)

What they do: Fitforce is one of many startups with a fitness app. But what makes Fitforce different is that they have taken a gamification approach to this idea. Basically, the startup has built a fitness platform that uses a smartphone’s motion-detecting capabilities to track user movement. This is then integrated into a video game that lets people exercise while executing various game-like tasks.

40. Kaido Group

5-year search growth: 273%

Search growth status: Exploding

Year founded: 2015

Location: Birmingham, England

Funding: $575K (Seed)

What they do: 90% of employers say they are investing more in their workers’ well-being. And startups like Kaido are looking to capitalize on this growth. Specifically, their platform delivers team-building services to support remote and hybrid teams.

Although Kaido initially targeted in-person enterprises, it has recently switched its strategy to target hybrid and remote companies. And this has paid off because according to the company, this change in strategy has resulted in a 420% increase in the number of users.

41. Seek AI

5-year search growth: 770%

Search growth status: Exploding

Year founded: 2021

Location: New York, New York

Funding: $10.5M (Undisclosed)

What they do: Acting as an AI-driven virtual data analyst, Seek's generative AI platform allows users to convert text-based questions into SQL queries. The platform is powered by SEEKER-1, a production natural-language-to-SQL model. MiniSeek, the simplified version of SEEKER-1, is the highest-rated model on the Spider Leaderboard and the first model to surpass 90% accuracy.

42. Hugging Face

5-year search growth: 8,300%

Search growth status: Exploding

Year founded: 2016

Location: New York, New York

Funding: $395.2M (Series D)

What they do: Hugging Face is an AI and machine learning platform that allows users to access open-source models, datasets, tools, and more. Functioning similarly to GitHub, The Hugging Face Hub allows users to host, share, and collaborate on ML models, datasets, and applications (called "Spaces"). The company's latest $235 million Series D funding round valued the startup at $4.5 billion.

43. ThatDot

5-year search growth: 27%

Search growth status: Regular

Year founded: 2019

Location: Portland, Oregon

Funding: $2.1M (Seed)

What they do: Big data is forecasted to be a $236B market by 2026. thatDot, looking to capitalize on this opportunity, has developed an AI-based platform that enables companies to analyze high-volume data and recognize complex patterns in less time. This product can analyze up to 1 million events per second.

44. Elicit

5-year search growth: 6,800%

Search growth status: Regular

Year founded: 2023

Location: Oakland, California

Funding: $9M (Seed)

What they do: Elicit is an AI research assistant that can search for and summarize academic papers, extract data, and synthesize relevant findings. Using natural language models, Elicit searches from a database of over 125 million academic papers. This tool has helped over 2 million users perform research in empirical domains. 

45. Everbee

5-year search growth: 7,400%

Search growth status: Regular

Year founded: 2020

Location: San Diego, California

Funding: Undisclosed

What they do: Etsy sellers rely on EverBee for product research, revenue analytics, keyword research, shop management, and much more. The tool helps Etsy sellers create best-selling products by analyzing what competitors are doing and what shoppers are searching for. This Chrome plugin currently has more than 200,000 users.

46. Partiful

5-year search growth: 99x+

Search growth status: Exploding

Year founded: 2020

Location: Brooklyn, New York

Funding: $20M (Series A)

What they do: Partiful is a platform for planning and organizing in-person social events and gatherings. With this app, users can host parties, create event pages, collect money, request RSVPs, send reminders, and much more. The app currently has a 5.0 rating with over 13,500 reviews on the Apple App Store.

47. Planity

5-year search growth: 1,229%

Search growth status: Exploding

Year founded: 2017

Location: Paris, France

Funding: $104.3M (Series C)

What they do: Planity is an online booking software for beauty salons, spas, and barbershops. The platform can accept payments, schedule appointments, and display available services for business owners. For users looking for services, they can type their address into the search bar to find local salons near them. The startup now supports 35,000 salons and 8 million monthly users.

48. Skyfri

5-year search growth: 150%

Search growth status: Peaked

Year founded: 2021

Location: Oslo, Norway

Funding: $11.5M (Convertible Note)

What they do: Skyfri is a SaaS solution for solar energy players. The software, using AI and IoT technology, enables companies to automate operations and asset maintenance. Although still in its second year of operations, Skyfri has already seen a rapid growth rate which saw them expand to over 100 employees across three continents.

49. OfBusiness

5-year search growth: 107%

Search growth status: Exploding

Year founded: 2015

Location: Gurgaon, India

Funding: $878.1M (Series G)

What they do: OfBusiness is an online platform that facilitates the procurement of raw materials, with a focus on the manufacturing and industrial sectors. The platform is currently used by over 700,000 SMEs. OfBusiness saw a very interesting year in terms of its value in 2021. The company’s value increased multiple times, growing from around $400M in April to over $5B by the end of the year.

50. Wyden (Formerly AlgoTrader)

5-year search growth: 13%

Search growth status: Regular

Year founded: 2014

Location: Zurich, Switzerland

Funding: $11.9M (Series B)

What they do: Wyden is an algorithm-powered trading technology platform for digital assets. The startup delivers the trading infrastructure to crypto exchanges like Binance, FTX, and Coinbase. In 2022, the startup rebranded from AlgoTrader to Wyden to become more focused on serving banking clients. 

Conclusion

This concludes our list of growing tech startups.

From medical devices to crypto trading platforms, the tech space represents a massive opportunity for startups.

More importantly, this list also highlights the fact that tech touches nearly every aspect of our daily lives. And seeing the rapid rate at which technological breakthroughs are happening, one can only wonder how intertwined our daily lives and tech will become in the future.