Forbes recognizes area startups as potential billion-dollar companies
A banner year for Philly-area companies
Two Philadelphia-area startups have been named to Forbes' annual list of 25 companies most likely to reach $1 billion in revenue. RunPod, a fitness tech company, and Promise, a health-tech company, both made the cut for this year's list, which was produced in partnership with TrueBridge Capital Partners.
Solving problems created by the pandemic
This year's Philly startups represent the moment we're in, by solving problems created by the pandemic.
RunPod, for example, offers virtual fitness classes that can be streamed live or on-demand. The company was founded in 2020, when the pandemic made it difficult for people to attend in-person fitness classes.
Promise, on the other hand, has developed a platform that helps patients manage their healthcare costs. The company was founded in 2019, but its platform has become increasingly popular during the pandemic, as people have become more cost-conscious about their healthcare spending.
A decade of Forbes lists
The Forbes Next Billion-Dollar Startups list has been produced annually since 2015. The list is based on a number of factors, including the company's revenue growth, profitability, and market opportunity.
Over the past decade, the list has featured a number of companies that have gone on to become major successes. Some notable examples include Uber, Airbnb, and Spotify.
A bright future for Philly startups
The inclusion of two Philly-area startups on this year's Forbes list is a testament to the strength of the region's startup ecosystem.
Both RunPod and Promise are solving real-world problems with innovative solutions. They are also both led by talented teams with a strong track record of success.
If the past is any indication, these two companies have a bright future ahead of them.
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