Four companies founded by Indian Americans have been featured on CNBC’s 12th annual Disruptor 50 list, showcasing the significant impact of artificial intelligence in various sectors. The companies—Zum, Tala, AlphaSense, and Glean—highlight the diverse areas of innovation led by Indian American entrepreneurs, from cybersecurity to agriculture.
According to CNBC, AI is a dominant theme on the Disruptor 50 list, with around two-thirds of the companies emphasizing AI as crucial to their operations. For the first time, a company, OpenAI, has retained the top position on the list. Zum, ranked 31st, is transforming the $50 billion student transportation industry to be safer, more reliable, and sustainable. The company recently secured a $140 million Series E funding and a $26 million grant from the EPA to advance its electric school bus fleet and AI-driven technology.
Founded in 2015 by Ritu Narayan, Zum aims to address the transportation challenges faced by working parents, a personal struggle Narayan experienced. Zum now serves over 4,000 schools across the U.S. and plans to expand to additional states, including Nebraska and Pennsylvania.
Tala, ranked 37th, disrupts traditional finance in developing markets by offering loans, credit, insurance, and bill pay services to the unbanked and underserved populations. Established in 2014 by CEO Shivani Siroya, Tala operates in countries like Kenya, India, and the Philippines. Last year, the company increased its total loan volume to $5 billion, serving nine million people.
Tala provides micro-loans through a smartphone app, using phone data and bill payment history to create credit scores for users. This approach allows Tala to offer loans ranging from $10 to $500 to consumers and small businesses in emerging markets.
AlphaSense, ranked 40th, is a specialized AI-powered search engine offering real-time financial information analysis for analysts, investment research, and corporate strategy. The company, which crossed $200 million in annualized revenue and raised $250 million in new funding rounds last year, is led by CEO Jack Kokko. AlphaSense competes with established platforms like Factiva and Capital IQ by launching advanced AI tools for comprehensive industry insights.
Founded in 2011, AlphaSense introduced its generative AI toolset, Smart Summaries, to expedite research processes and provide enhanced insights from equity research and expert interviews. The company, co-founded by Wharton MBA graduates Jack Kokko and Raj Neervannan, has focused on optimizing its AI capabilities and data resources.
Glean, ranked 43rd, recently attracted strategic investors, including Citigroup, achieving a $2.2 billion valuation. The Palo Alto-based startup has nearly quadrupled its annualized revenue to $39 million, leveraging the surge in generative AI. Glean competes with tech giants like Microsoft and Amazon, as well as cognitive search tool providers.
Founded in 2019 by Arvind Jain, Glean initially served as a search engine for enterprises before evolving into a generative AI platform. Jain, who also founded Rubrik, describes Glean as both Google and ChatGPT for businesses, offering conversational and chat-based functions to manage internal data and provide rapid responses.
