With mega-rounds becoming the norm in NYC tech, it comes as no surprise that the community raised a total of $1.2 billion in the month of October (remember that one $325 million day?). But let that sink in: $1.2 billion. Thanks to investors pouring more money into fewer companies, mega-rounds happen seemingly every day. See which companies are raking it all in.
5. MoviePass, $65 million, Oct. 3
Bio: MoviePass is a company that lets users watch movies at local theaters at a fixed monthly rate.
News: The company raised $65 million in Series B funding soon after the company’s announcement that it’s limiting services for users. Rather than an unlimited pass, users can enjoy up to three movies per month. Ted Farnsworth, CEO of Helios & Matheson Analytics, which owns MoviePass, says this strategy helps the company control its spending. Other details of the funding were not shared. [Business Insider India]
4. Braze, $80 million, Oct. 3
Investors: Spark Capital, Meritech Capital Partners, Cross Creek
Bio: Customer engagement platform Braze, formerly known as AppBoy, delivers personalized, omnichannel messaging experiences.
News: Braze raised $80 million in Series E funding, bringing its total amount raised to $175 million. The round was led by Meritech Capital Partners with participation from Spark Capital and Cross Creek, bringing the company’s valuation to $850 million. [Press release]
3. Kashable, $100 million, Oct. 16
Investors: MidCap Financial, Apollo
Bio: Kashable uses cloud-based technology to provide alternative lending solutions for consumers.
News: MidCap Financial and Apollo invested a combined $100 million in Kashable, which the company will use to extend its offerings to people across the U.S. To-date, this is the company’s only round of funding outside of its seed round in 2014. [Press release]
2. Assembled Brands, $100 million, Oct. 25
Investors: Oaktree Capital Management
Bio: Using proprietary technology, Assembled Brands identifies a brand’s relationship with consumers and finances them.
News: Oaktree invested $100 million in Assembled Brands, which the company will use to branch into new industries and enhance its proprietary technology. [Press release]
1. Ribbon, $225 million, Oct. 25
Investors: Nyca Partners, NFX, Greylock Partners, Bain Capital Ventures
Bio: Fintech company Ribbon helps people buy their homes. Buyers work with Ribbon to secure a mortgage and “rent” from them until they lock in financing.
News: Ribbon raised a $225 million Series A funding round, which it will use to expand to 10 new markets next year. It launched in September 2017 and is currently available in Charlotte, North Carolina. [TechCrunch]
