Substance Painter cannot start because api-ms-win-crt-runtime-l1-1-0.dll is missing from your computer. 
This is most likely because the update KB2999226 which is part of the Visual C++ Redistributable for Visual Studio 2015 failed to install. 

How to fix the issue ?

1 - Verify that Windows is up to date

1. Open the Start menu
2. Select Control Panel
3. Click on Windows Update
4. Click on Check for updates
5. Install all available updates.
6. After the updates are installed, restart your computer. 

After the restart repeat the steps above again until no more updates are available.

2 - Install Visual C++ Redistributable

1. Download the Visual C++ Redistributable :
   1. For Windows 64-bit 
   2. For Windows 32-bit
2. Run the vcredist_x64.exe (64-bit) or vcredist_x86.exe (32-bit) 
3. Select Uninstall and follow the procedure
4. Run the executable again
5. Select Install