With so much going on in the city’s thriving ecosystem, it is easy to miss some of the happenings in the space. We keep you abreast of a few of things that you may have missed in NYC Tech News for the week ending 9/8 including the NYC startup fundings, NYC startup exits, and NYC Tech events including news for MIRROR, Vroom, Meural, The Inside, Contour Venture Partners, and much more…
Vroom, the online platform for the purchase and sales of automobiles, has closed an additional $30M in funding for its Series G round, which is a total offering of $70M. Founded in 2013 by Kevin Westfall, Marshall Chesrown, and Scott Chesrown, Vroom has now raised a total of $324M in equity funding.
MIRROR, the connected fitness platform, has raised an additional $25M in funding led by Spark Capital. Founded in 2017 by Brynn Putnam, MIRROR has now raised a total of $38M in funding.
Full coverage of MIRROR’s launch and most recent funding round.
We shined a spotlight on the top funding rounds for NYC startups from August 2018 – These 10 NYC Startups Raised the Most Capital in August 2018
According to a recent SEC filing, Contour Venture Partners has held its first close for its fourth fund at $20M. The company had filed with a $75M offering with the SEC in February. Founder in 2001 by Matt Gorin, Contour Venture Partners has made investments in over 50 companies include OnDeck, Datadog, Ellevest, ShopKeep, Ticketfly, Movable Ink, and BounceX.
Meural, the digital art platform, has been acquired by networking giant NETGEAR. Terms of the transaction were not disclosed but the acquisition was announced at NETGEAR’s Financial Analyst Day.
Read the full story – NYC Startup Meural Acquired by NETGEAR
Custora, the customer analytics platform for retail, today announced $13.75M in Series B funding led by General Catalyst with participation from existing investors Foundation Capital and Greycroft. Founded by Corey Pierson and Jon Pospischil in 2011, Custora has now raised a total of $20.25M in reported equity funding.
As we already reported last month, August 2018 was the single greatest month for NYC startup funding, with total funding crossing the $2B mark!, sharply up close to 300% from both August 2017 and July 2018 levels. Massive activity in the late stage and Series B rounds contributed largely to this total.
Full analysis- The AlleyWatch August 2018 New York Venture Capital Funding Report
Fit4D, the coaching platform and community for those with Diabetes, has raised $4M in funding from investors that include Esther Dyson, SJF Ventures, Blue Cross and Blue Shield of Nebraska, C&B Capital, and North Haven Capital. Founded by David Weingard in 2007, Fit4D has now raised a total of $6.8M in funding over four funding rounds.
In our Inside the Mind of a New York VC series, we caught up with Anna Garcia, Partner at Runway Venture Partners, an early-stage fund focused on making investments in startups that are post seed with established product-market fit, often serving as seed extension capital prior to an A round.
Read the full interview for all the awesome insights Anna shared with us – Inside the Mind of a NYC VC: Anna Garcia of Runway Venture Partners
Direct-to-consumer home furnishing brand The Inside has raised $2.6M in funding from investors that include Canaan Partners, Lerer Hippeau, Forerunner Ventures, Corigin Ventures, and BAM Ventures. Founded in 2017 by Britt Caputo Bunn and Christiane Lemieux, The Inside has now raised a total of $4.1M in funding over two rounds.
According to a recent SEC filing, DotAlign, the founded by Vince Scafaria in 2009, has raised $2.2M in additional funding bringing its total funding raised to $8.4M over five rounds. The filing indicates that there were 19 participants I the round and the total offering is for $3M. Investors in previous rounds include Point72 Ventures and White Owl Capital Partners.
According to a recent SEC filing, New Stand, the modern day digital and physical convenience store has raised $2M in funding. This is the second round of funding for the startup founded by Andrew Deitchman and Lex Kendall. Total funding now stands at slightly under $8M and the filing indicates that there were 11 participants in the round.
According to a recent SEC filing, Craig Drill Capital, a hedge fund founded in 1988 with over $200M in assets under management is entering the venture game. Its inaugural fund has closed at $9.6M. The filing indicates that there were 46 LPs and the minimum investment size is $150K.
We recapped all the NYC venture firm news in our biweekly digest – The NYC Venture Capital News Digest: 9/5/18
According to a recent SEC filing, Bison Trails Hosting, has raised $1.8M in funding. The filing lists Joseph Lallouz and Aaron Henshaw, the founders of Grand St (acquired by Etsy) as Directors. Nicholas Chirls of Notation Capital is also listed as a Director. The filing indicates that there were 36 participants in the round.
