Flywire: Helping payments go worldwide
Flywire CEO Mike Massaro
Valuation: $700 million
Total raised to date: $143.25 million
Year founded: 2009
What it does: Flywire handles cross-border payments.
Why it’s hot: While Flywire is not the only startup in this market, it had a stellar 2018, when Deutsche Bank partnered with the company to streamline tuition fee payments for India’s overseas students. Some 300,000 students attend overseas colleges in the US, Australia, Canada, the UK.
It also raised $100 million in new funding this year, and said it expects to reach annualized revenue of $100 million later this year.
Mode: a new way to build corporate networks
Mode.net CEO Paul Dawes
Valuation: $80 million
Total raised to date: $22.75 million
Year founded: 2014
HQ: San Francisco, CA
What it does: Mode offers software that improves wide-area networks for enterprises, which connect remote offices together.
Why it’s hot: The company was formed by Cornell researchers Kevin Tang and Nithin Michael after they devised a mathematical way to watch and predict network traffic, something thought previously impossible. Not only did their research wow the academic world, but investors from NEA approached them and asked them to build a product.
Should they figure it out, it could upend and greatly reduce the costs of building corporate networks.