Browse Case Studies

Lab Sensor Solutions, founded by Jari Bolander and four co-founders, provides a sensor-as-a-service platform to track temperature and location of clinical samples during transport to prevent spoilage and medical errors. After two years of development and graduating from 500 Startups Batch 14, they launched sales in January-February 2014, raising a $420k friends-and-family seed round and acquiring three lab customers with 125 deployed sensors generating $3,000 MRR. With 7 trials underway and 22 more in immediate pipeline representing ~1,700 additional sensors, they're disrupting a legacy healthcare industry by leveraging the Affordable Care Act's shift toward value-based care.

Hold Your Hunches is a patented line of fashion leggings with integrated compression and shapewear, created by mothers Aaron Bickley and Jenny Greer. After building to $300K in two years through direct-to-consumer online sales, they appeared on Shark Tank Season 5 and became the first company to score a deal with both Lori and Barbara, resulting in a massive spike. They grew to $1.5M in revenue in 2014, with 90% still from direct online sales and 15% from their new Amazon store launched in April 2014.

Cellink is a Swedish bioprinting company founded in 2015 by Eric Gattonholm and Hector Martinez that manufactures affordable 3D bioprinters and provides custom tissue printing services. They've sold 40 bioprinters at $5,000 each with 87% gross margins, and project $4 million in total 2016 revenue by combining printer sales with high-margin services for cosmetic and pharmaceutical testing. The company aims to democratize bioprinting technology globally while working toward their long-term vision of bioprinting functional human organs for transplantation.

Bohemian Guitars manufactures functional electric guitars from reclaimed and recycled materials, selling at $250 retail (33% below market average) with a $55 production cost. Founded in 2012 by Adam Lee and his brother, the company grew from $16,000 first-year revenue to over $1 million in 2015 with 5,000+ units shipped, leveraging crowdfunding campaigns on Kickstarter and Indiegogo to validate products and raise capital. The company now has 100+ SKUs, operates in 50 countries with rockstars like Hozier using their guitars, and generates $5,000/month from a string subscription service.

Vertigris is a Silicon Valley-based IoT hardware and SaaS company founded by Mark Chung and two co-founders that helps commercial buildings monitor and optimize electricity usage. They install magnetic sensor clamps on electrical panels paired with an iPhone-like gateway device, then provide recurring software services for energy management and predictive analytics. With 300 customers generating approximately $260k MRR ($3.12M ARR) and a goal to reach $5M revenue in 2017 (4x growth from $1.2M in 2016), they've raised $16M in venture capital and leverage Verizon's 900-person sales team as their primary growth channel.

Forever Labs is a Y Combinator-backed longevity company that stores patients' stem cells via a 15-minute outpatient bone marrow aspiration procedure for $2,500 upfront plus $250/year in storage fees (or $7,000 lifetime). Founded in 2015 by Steven Klausenitzer and Dr. Mark Katakowski, the company has nearly 200 paying customers across nine states with credentialed physicians from top universities (Harvard, Stanford, Yale, etc.), generating ~$45k/month in recurring revenue from storage fees and referrals.

BioWave is a medical device company founded by Brad Smith in 2007 that uses electrical signal technology to provide FDA-cleared, non-opioid pain relief. The company sells professional-grade devices ($3,500) to sports teams and hospitals, consumer home units ($895), and recurring revenue through disposable gel pads ($15 per pair) and high-margin percutaneous needle electrodes ($150 per pair). With 16 employees, 90+ pro sports teams as customers, presence in 34 VA hospitals, and a growing network of 70+ distributors, BioWave is projected to cross $5 million in annual revenue.

TeleSense is an IoT hardware + software company founded in 2014 that monitors grain storage to reduce spoilage (30-50% reduction) in a $14B annual spoilage market. The company has 8 paid customers generating approximately $2k/month in recurring SaaS revenue, with a pricing model of $5k upfront ($4k hardware, $1k annual software subscription) that will eventually flip to free hardware and $4k+ annual software subscriptions. Founder Naeem Zafari, a serial entrepreneur with an Oracle acquisition in his background, raised $6.5M from major strategic investors including Maersk, McDonald's, and Rabobank.