#3 Private Company to Watch: Tenovi | tenovi.com
Three-Year Avg. Annual Growth: 243%
Founded: 2022
Headquarters: 1 Cate St., Suite 100, Portsmouth
Co-Founders: Nizan Friedman, Ph.D, CEO, and Daniel Zondervan, Ph.D, CTO
Total Number of Employees: 75
Product/Service: A data aggregation and automation Healthcare IoT platform that connects remote medical device data with clinical care teams.
As graduate engineering students at UC-Irvine, Nizan Friedman and Daniel Zondervan worked on tech for patients recovering from strokes, eventually spinning it off into a company that sold devices to tens of thousands of stroke survivors.
Then they started to think even bigger: What if, instead of helping patients recover, they could prevent strokes, heart attacks and other conditions in the first place?
That’s the idea behind Tenovi, the Portsmouth-based company they founded in 2020. It’s a technology platform that transmits data from medical devices to doctors and nurses, allowing them to monitor patients’ vitals remotely and keep a closer watch on chronic conditions like hypertension and diabetes.
Remote patient monitoring is a rapidly growing industry. Medicare payments alone topped $500 million last year, up from $15 million five years earlier. Friedman says that’s part of why Tenovi has grown so quickly, ranking 55th on Inc.’s latest list of the country’s fastest-growing private companies (and the fastest growing of the NH companies on that list). But it’s also differentiated itself in the market, he says, by prioritizing accuracy and integrating with a wider range of devices than
its competitors.
Friedman says he expects to end the year with around $17 million in revenue, up from $9 million last year. “Our goal is to get to $100 million in revenue by 2028,” he says, adding that he expects to be “comfortably $35 to $40 million next year.”
Moving forward, Friedman sees opportunity for Tenovi to expand in several areas, including senior care, pharmacy and maternal health. The company is also working to integrate more comprehensive data on medication adherence, activity tracking, sleep and diet alongside vital signs data. Friedman says giving providers a “360-degree view of the patient” will help improve outcomes, which is what it’s all about.
“There’s been multiple stories of our customers coming and saying, ‘You saved ten lives this year or this month,’” he says. “Those are always the most impactful.”
