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 the things that you may have missed in NYC Tech News for the week ending 6/13 including the NYC startup fundings, NYC startup exits, and NYC Tech events including news for Lemonade, RapidSOS, Squire, and much more…
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TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.
Vroom, the online used car platform, went public on the Nasdaq this week with an outstanding debut. The IPO was at $22M at $2.5B valuation and the stock closed its first day of trading under the ticket VRM at $47.90. The stock closed the week with a $4.96B market cap.
Vroom was founded by Kevin Westfall, Marshall Chesrown, and Scott Chesrown in 2013 and raised $467.5M prior to the IPO in equity funding. Vroom is backed by investors that include Adams Street Partners, Altimeter Capital, General Catalyst, L Catterton, and T. Rowe Price.
TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.
, the barbershop management platform, has raised $27M in Series B funding from investors that include Y Combinator, CRV, Tiger Global Management, Trinity Ventures, , San Francisco 49ers, and CV Catalyst Fund. Founded by Dave Salvant, Songe LaRon, and Yas Tabasam in 2015, Squire has now raised a total of $39.2M in reported equity funding. The company also raised $7B in debt in conjunction with this transaction.
TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.
Wahed, the Islamic law compliant Robo investing platform, has raised $25M in venture funding from investors that include Cue Ball, BECO Capital, Saudi Aramco Entrepreneurship Ventures, Dubai Cultiv8, and Rasameel Investment Company. Founded by Junaid Wahedna in 2015, Wahed has now raised a total of $40M in reported equity funding.
TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.
, the provider of emergency technology solutions for public safety, has raised $21M in funding from investors that include Transformation Capital, C5 Capital, and Laerdal Million Lives Fund. Founded by Michael Martin and Nick Horelik in 2012, RapidSOS has now raised a total of $107M in reported equity funding.
TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.
Lemonade, the startup providing renter’s insurance, has filed its S1 to go public on the NYSE under ticker LMND. It’s seeking to raise at least $100M in the offering. Key findings:
- 2019 Revenue $64M
- 2019 Loss – $109M
- 2018 Revenue $21M
- Q1 2020 Revenue – $26M
- Q1 2020 Loss – $37M
Founded by Daniel Schreiber, Shai Wininger in 2015, Lemonade has raised a total of $480M thus far and is backed by investors that include GV, General Catalyst, SoftBank, Thrive Capital, OurCrowd, Sequoia Capital Israel, Expansion Venture Capital, Aleph, G Squared, Tusk Venture Partners, Inventure Partners, Counterpart Advisors, Allianz X, Allianz, XL Innovate, and eBrands.vc. SoftBank, Sequoia Israel, Aleph, XL Innovate, and General Catalyst are the largest institutional shareholders.
Lemonade’s last $300M raise in April 2019 was at a reported $2.1B valuation and was led by SoftBank. If it were to go public at that valuation, the company would be trading at 20.19x net revenue. Vroom, which just went public, is trading at 22x net revenue but went public at 11.22x revenue. It’ll be interesting to see how much investor attention Lemonade can attract at SoftBank inflated valuations.
TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.
, the online education infrastructure platform to allow universities and colleges to offer online services, has raised $16M in Series B funding from investors that include ValueAct Capital and LuminaFoundation. Founded by John Katzman in 2013, Noodle Partners has now raised a total of $52M in reported equity funding.
TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.
Planck, the data analytics platform for the insurance industry, has raised $16M in Series B funding from investors that include Eight Roads Ventures, Arbor Ventures, Nationwide Ventures, Viola FinTech, Hannover Digital Investments GmbH, and Team8 Capital. Founded by Amir Cohen, David Schapiro, and Elad Tsur in 2016, Planck has now raised a total of $28M in reported equity funding.
TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.
Concourse Labs, the platform for automated cloud governance, has raised $15.2M in Series A funding from investors that include ForgePoint Capital, 83North, and Capri Ventures. Concourse Labs was founded by Don Duet and J Ram in 2017.
TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.
Ethyca, the data privacy automation platform, has raised $13.5M in Series A funding from investors that include Abstract Ventures, Scott Belsky, SciFi VC, David Gilboa, Michael Ovitz, Neil Blumenthal, Lachy Groom, Jeffrey Raider, Joseph Zwillinger, and DJ Patil. Founded by Cillian Kieran and Miguel Burger-Calderon in 2018, Ethyca has now raised a total of $20M in reported equity funding.
TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.
C2i Genomics, the provider of cloud-based cancer diagnostic services, has raised $12M in Series A funding from investors that include NFX, Casdin Capital, and The Mark Foundation for Cancer Research. C2i Genomics was founded by Asaf Zviran, Ezra Sofer, and Boris Oklander in 2019.
TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.
Pinwheel is building an API for payroll systems and it raised $7M in Seed funding led by First Round Capital, along with Upfront Ventures. The company was founded by Kurtis Lin and Curtis Lee.
TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.
ClassTag, the parent-teacher communications platform, has raised $5M in Seed funding from investors that include Founder Collective, Newark Venture Partners, Contour Venture Partners, TMT Investments, SmartHub, AlleyCorp, and John Martinson. Founded by Jason Olim and Vlada Lotkina in 2015, ClassTag has now raised a total of $11.6M in reported equity funding. AlleyWatch caught up with Lotkina to discuss ClassTag’s Seed round.
TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.
elovee, a conversation platform focused on seniors and those with dementia that provides speech and imagery that uses simulated versions of patient’s family members, has raised $2.6M in funding according to a recent SEC filing funding, The filing indicates that the total offering is for $41.5M and that there were three investors in this close. elovee is incubated through Koru a joint incubation venture by BCG Digital Ventures and Ontario Teachers’ Pension Plan. Ashley Silver of BCG cofounded the company in 2019.
TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.
Paradigm, the messaging platform for institutional digital asset traders, has raised $2.6M in funding according to a recent SEC filing. The filing indicates that the total offering is for $3M and that there were fourteen investors in this close. Founded by Anand Gomes and Sharaf Nassar in 2016, Paradigm has now raised a total of $4.3M in reported equity funding.
TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.
DotAlign, the business relationship intelligence platform, has raised $536K in funding according to a recent SEC filing. The filing indicates that the total offering is for $1M and that there were eleven investors in the close that’s structured as a convertible note. Founded by Vince Scafaria in 2009, DotAlign has now raised a total of $7.8M in reported equity funding.
TKS Talk with Shaloo Garg President, United Nations Women USA | Managing Director, Microsoft for Startups
On June 20th @ 1pm EST, The Knowledge Society (TKS) will be hosting an invite-only talk with Shaloo Garg, Managing Director @ Microsoft! (spoiler, you’re invited!) Register here!
As always, there is no cost to attend. Here’s the link for details and registration.