Seventh Edition: Startup Iowa Hot List
Meet the startups to support and watch in Iowa + beyond
Welcome to the seventh edition of the Startup Iowa Hot List, showcasing startup companies to support and watch in Iowa.
This monthly digest is to better connect Iowa-based startups (and affiliated) to the strong support networks in the Midwest investor and entrepreneurial ecosystem. Investors, entrepreneurs, mentors, corporate-startup champions, economic developers, and educators in and outside of Iowa can dial in on the startup activity happening across the state while finding the next business to support.
If you are a startup that would like to be featured, please fill out the application here.
Feedback, suggestions, or questions? Reach out to Diana at dwright@dsmpartnership.com.
Actively Raising
🚀Hummingbirds
Highlights: Hummingbirds is a marketplace for discovering and working with hyper-local content creators that works with small businesses, corporate partners, and communities to drive awareness and sales growth. Over the past year, the team has achieved revenue through 100+ paying customers and has signed up more than 600 hummingbirds (local creators) on the platform. They are launching in two additional markets, Omaha and Milwaukee, with Des Moines being the first successful launch.
Raising: $500,000 \ Committed: $100,000
Backed by: ISA Ventures and local angel investors
Founded by: Emily Steele, Woman-led company; Executive Summary
Contact: emily@thehummingbirds.co + web; HQ: Des Moines, Iowa
Can you help? If you know small business owners who could use content creators to leverage their offers or investors who would be interested in learning more, send them Emily’s way!
🚀NanoSpy
Highlights: NanoSpy develops rapid pathogen detection biosensors for food safety professionals who need to control contamination in food processing plants. The team’s solution is a simple onsite test method that is sensitive, specific and returns a live bacteria count in less than 20 minutes, eliminating lengthy bacteria enrichment and laboratory requirements.
Raising: $350,000 to $700,000
Backed by: NSF SBIR Phase 1 and IEDA’s Proof of Commercial Relevance
Co-founded by: Darin Heisterkamp, Dr. Carmn Gomes, and Dr. Jonathan Claussen; Executive Summary
Contact: darin@nanospyinc.com + web; HQ: Ames, Iowa
Can you help? They are currently looking for connections to food safety leaders in food processing plants for discussion on requirements for onsite biosensor beta testing and end-use.
🚀Pitchly
Highlights: Pitchly was founded on the belief that the future of work is data-driven, not task-driven. With a focus on solving the last-mile dilemma for business data, Pitchly has created a place where people, data, and content come together to generate real business outcomes.
Raising: $5,000,000 Series A \ Committed: $2,000,000
Backed by: Next Level Ventures, M25, Great North Ventures, Cabra.vc, Nelnet
Co-founded by: Ryan Gerhardy, CEO, and Michael Brook, Chief Innovation Officer
Contact: ryan@pitchly.com + web; HQ: Des Moines, Iowa
🚀Shaka
Highlights: For business leaders who are struggling to create a company culture in a remote or hybrid environment, Shaka provides software that hosts virtual culture programs such as team challenges, employee communities, and coffee chats, so that companies can reduce employee turnover and improve their recruiting costs.
Raising: $500,000 \ Committed: $200,000
Backed by: Techstars and ISA Ventures
Co-founded by: Melanie Wertzberger and Kelli Veach, a Women-led company; Business Overview
Contact: melanie@joinshaka.com + web; HQ: Cedar Rapids, Iowa
Can you help? Shaka will be launching a new podcast with interviews with great culture leaders. If you know an HR Leader or a CEO who would be a good guest on the show, they would love to record a 5-minute interview. Please route introductions to Melanie@joinshaka.com
🚀Want to be featured? Looking for more Iowa startups for investment?
For a list of more startups actively raising (that may not appear in this newsletter) or to be featured in the next edition, reach out!
Closed Rounds
💰Cambio (Iowa City/Chicago) secures a $500,000 investment and is accepted into YCombinator ‘22 Summer cohort
💰Digital Diagnosis (Coralville, previously IDx) has raised over $75 million Series B led by a global investment firm, KRR
💰Genvax (Ames) raised a $6.5 million seed round with Johnsonville Ventures, Iowa Corn Growers Association, Summit Agricultural Group, and Ag Startup Engine
💰Sabanto (Nevada, Iowa/Chicago) announced that it has raised $17 million Series A led by Fulcrum Global Capital.
Pappajohn Venture Competition Awards
John Pappajohn Iowa Entrepreneurial Venture Competition announced the finalists for the statewide $100,000 business competition:
Continuum Ag awarded $40,000 for first place
Farm Story Meats awarded $25,000 for second place
Denscore awarded $15,000 for third place
ReEnvision Ag and Juggernaut Life Sciences awarded $5,000 for honorable mentions
Janas Materials awarded $4,000 for honorable mention
Hummingbirds, Farmers Risk, and Easy2Show were awarded $2,000 for honorable mentions
On the Horizon: Companies to Watch
Cambio - Enables consumers with poor credit scores to rebuild their finances through bad credit resolution, 0% interest loans, and affordable refinancing options via a mobile app
Denscore - Provides a dental navigation solution that creates a smarter and more personalized dental benefits experience for both consumers and carriers
IntelliSee - Protects what matters most through the power of AI from weapon, slip & fall, person, and vehicle detection for proactive risk management
LendorClose - Brings speed and efficiency into the lending process, greatly enhancing the borrowing experience to equip today’s credit unions and community banks
Music League - Blending music discovery and creative competition, Music League helps you discover new music, share your favorites, and play against your friends
Rocket Referrals - Builds software tools to help insurance agencies grow their business so that clients stay longer
Workhound - Provides a real-time feedback platform for frontline workers to help companies reduce avoidable turnover starting in the trucking industry
Story + Sound Bites
🔊 Travis Shelton: Wake up every day and pursue the meaning over money (Small Business and Startup Stories DSM Podcast)
🔊 Kaylee Williams: Funding the future (Iowa Innovation Podcast)
🔊 Cal Newport: Deep Work author explains how the hive-mind repels responsibility and why leaders crave busywork (The Justin Brady Show)
🗞️ 2 Black-owned businesses find success with Center @ Sixth incubator, months before it breaks ground
🗞️ 27 Iowa companies named to 2022 Inc. 5000 List
🗞️ The woman-owned business community in Des Moines is prolific (more suggestions welcomed)
Upcoming Events
📅 August 31 - [Online] Startup Investing 101
📅 September 15 - Beyond Business Conference
📅 September 16 - EO Iowa: The 40-Hour Work Year with Scott Frittz
📅 September 20 - Flourish: Fund Ideas that Matter
📅 October 13 - Techstars Iowa Demo Day
What’s in a name? The Startup Iowa Hot List is specially-curated with a rush of urgency to read just before the news cools. See a company you are interested in helping? Please act and support entrepreneurs that may be featured on this list and those close by, impacting our local communities and neighborhoods.
Entrepreneurship has always been a community sport.
Want to be featured in the next Startup Iowa Hot List? Reach out to Diana at dwright@dsmpartnership.com.