Investing in FAANG stocks -- FacebookAppleAmazonNetflix, and Google (Alphabet) -- is often an easy decision for growth investors. These are the top tech stocks in the world and they continue to rise in value. They all soundly outperformed the S&P 500 and its 16% returns in 2020, with the worst-performing stock, Alphabet, rising 31% while Apple soared 81%.

But the problem with investing in those stocks is that they may not have as much growth potential left. Apple, for example, posted an incredible $274.5 billion in revenue in its most recent fiscal year, but that was just 5.5% higher from the previous year's total. For even better growth opportunities, investors should look outside of FAANG. Two stocks that look to be more promising buys are Roku (ROKU -3.31%) and Teladoc Health (TDOC -2.67%).

Stock chart showing numbers getting bigger.

Image source: Getty Images.

1. Roku 

Roku's streaming platform and devices have been rising in popularity amid the COVID-19 pandemic. Sales of $1.1 billion over the past three quarters are up 57.2% from the same period a year ago. Revenue from its hardware (or player segment) have grown by 40.3% while sales related to its streaming platform are up by 65.6%.

On Jan. 6, the company announced it reached a milestone in 2020 -- ending the year with more than 50 million active accounts (51.2 million in total). For all of 2020, users streamed 58.7 billion hours of content, which was a year-over-year increase of 55%.

And there could be even more growth ahead for the California-based business. It recently announced that it acquired Quibi's distribution rights all over the world. Quibi focuses on content that's no more than 10 minutes in length. And although it never gained much popularity since launching in April, it will likely bring more eyeballs to Roku's platform, and it could bring in more ad revenue for the company.

There is tons of growth potential for Roku, certainly more than you might get from a FAANG stock, and that's why this is a company that you should consider adding to your portfolio today.

2. Teladoc Health

Telehealth giant Teladoc has enjoyed strong growth amid the pandemic as patients make the most of its convenient technology. Through virtual visits, they can connect with physicians even if they're unable to physically visit the doctor's office due to shutdowns and COVID-19-related restrictions. But Teladoc isn't just a good investment during the pandemic. The growth in the telehealth sector could be here to stay, even if COVID-19 isn't a concern anymore. Fortune Business Insights estimates that the telehealth market will grow to a value of $559.52 billion by 2027, which is more than nine times the $61.4 billion it was worth in 2019.

And after merging with Livongo Health last year in an $18.5 billion deal, Teladoc is in an even stronger position to benefit from that growth. Its business was more general in nature, focusing on regular, day-to-day visits with the doctor. But Livongo's business is more specialized, focusing on chronic care and providing services like diabetes coaching for its patients to help them stay on top of their illnesses. Combined, the companies can provide patients with a broader scope of telehealth services.

Earlier this month, the company also announced it would be partnering with DexCom, which makes continuous glucose monitoring (CGM) systems. Teladoc will now provide its users with "CGM-powered insights" to help them see and monitor their glucose levels.

What's impressive is that while Teladoc will benefit from the aforementioned partnerships, its core business is also still showing strong growth. The company released its third-quarter earnings on Oct. 28, 2020 (just days before it officially closed on its deal with Livongo). Sales for the period ended Sept. 30, 2020, totaled $288.8 million, more than double the $138 million it posted in the prior-year period. The total number of telehealth visits of 2.8 million grew by a staggering 206%.

Teladoc is an exciting healthcare stock, not only because the business is benefiting from growth in the telehealth sector, it's also making key moves to fortify its market share. Last year, its shares soared 139% and this year it's already up over 40% -- well above the modest 2% gains the S&P 500 has made thus far. And yet, it still may not be too late to invest in the stock given the opportunities ahead.