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Founders' Playground in NYC

Founders' Playground in NYC
February 24, 2022

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As a Bay Area to New York transplant, I’m familiar with the strengths of each city as innovative startup hubs. The Bay Area is saturated with tech workers, side hustlers, pitches over 4th wave coffee, and tech events. New York is too, but there’s also the screenwriter’s pitches, finance guys in puffer vests, fashion “it-girls,” and snobbish literati. New York is vast and its industries are varied. For tech to feel like a major competitor to the nearly one-tracked-minded Bay Area (sorry to all my foodie and artist friends), it has to really be churning out the deals. And churn it has.

    

The New York startup scene has apparently hit an inflection point in the last year after steady progress as a major player, behind the Bay Area and Boston (a college town and breeding ground for startups). Overall funding more than doubled in 2021 over the previous year, hitting $52BN. Last year, moreover, NYC startups UiPath, Warby Parker, Squarespace, and WeWork all went public.

Meanwhile, trends in relocation since the start of the pandemic show New York as the most favored location for those ditching the Bay Area. West Coast venture capitalists Craft Ventures, Greylock, Lightspeed Venture Partners, Redpoint, and Threshold Ventures all now have check writers local to NYC. Andreessen Horowitz even has a 34K SF office in Soho. 

Recent fundings in NYC include cybersecurity firm BlueVoyant, fintech CRM company Vymo, and telehealth company Minded. For more Big Apple-related investments, search New York, NY in fundings.
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Since last week, PrivCo has added:
3,686 Companies | 247 Funding Activities | 178 M&A Deals

Funding & Deal Highlights:

 

iMatrix Systems raises $2MM 

Sensors • Seed • Zephyr Cove, Nevada
 

Backbone Labs raises $40MM from Index Ventures

Gaming • Round A • San Francisco, CA
 

Point.me raises $2MM from PAR Capital Partners

Travel • Seed • New York, NY
 

Anecdotes raises $25MM from Red Dot Capital Partners

Cyber Security • Round A • Palo Alto, CA
 

BlueVoyant raises $250MM from Liberty Strategic Capital

Cyber Security • Round D • New York, NY
 

Tagboard raises $8MM from Next Frontier Capital

PaaS • Round A • Redmond, WA
 

Somatus raises $325MM from Wellington Management

Biotechnology • Round E • Vienna, VA
 

Pontera Solutions raises $80MM from Lightspeed Venture Partners

Crowdsourcing • Equity • New York, NY
 

Revel raises $126MM from BlackRock

Micro-mobility • Round B • Brooklyn, NY
 

Redpanda Data raises $50MM from GV

PaaS • Round B • San Francisco, CA
 

Valoreo raises $80MM from L Catterton

E-Commerce • Round B • Benito Juarez, Mexico
 

Scalapay raises $497MM from Tencent Holdings

E-Commerce • Round B • Milan, Italy
 

BloomReach raises $175MM from Goldman Sachs Asset Management

Content Management • Equity • Mountain View, CA
 

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