As expected, the NYC tech scene had a lot going on last week. Catch up on the latest news, including new capital rounds, expansions and so much more. This is the Built In NYC weekly refresh.
WeWork opened a ‘Growth Campus.’ WeWork is the creator and curator of coworking spaces that provide office space, tech and amenities for professionals. The company announced it opened its first ‘Growth Campus’ in the U.S. which focuses on boosting NYC-based startups. The campus will extend $25 million in funding from WeWork across 11 WeWork locations in New York. The campus will accommodate startups at different stages of growth and give these entrepreneurs access to educational programming, mentorship and virtual acceleration opportunities. Startups with less than 100 employees and younger than five-years-old are eligible for WeWork’s Growth Campus application. [Built In NYC]
RapidRatings raised $200M. RapidRatings provides predictive analytics to assess financial health between business partners. RapidRatings received a $200 million strategic investment co-led by Spectrum Equity and private investment firm 22C Capital. The investment will help RapidRatings continue its mission of risk management and financial visibility between clients. [Business Wire]
Genesis gained $200M. The Genesis low-code, no-code platform allows financial institutions to accelerate application development. Genesis raised $200 million in a Series C round led by Tiger Global Management that will go toward expanding the company’s platform, its developer community and its “buy-to-build” model. [PR Newswire]
NYC TECH QUOTE OF THE WEEK
Veho brought in $170M. The Series B round led by Tiger Global brought Veho’s valuation to $1.5 billion. Through its network of company-operated warehouses, Veho provides a last-mile, next-day delivery service. The tech unicorn plans to move its headquarters to New York to continue its expansion into more markets. Veho is also expected to increase its employee headcount from 500 to 2,000 by the end of the year, with 60 open tech roles currently available. [Built In NYC]
Ro raised $150M. Healthtech unicorn Ro has created a vertically-integrated primary care platform aimed at reducing the cost of healthcare and providing personalized care to the patient. Ro gained $150 million exclusively from its existing investors, raising its valuation up to a whopping $7 billion. [TechCrunch]
Check got $75M. Check wants to make running payroll easier by providing payroll-as-a-service APIs so clients can embed payroll into their platform. The new capital will allow Check to continue its focus on rolling out its API for vertical SaaS, time-tracking and HR platforms. The $75 million Series C round was led by Stripe. Check is also actively hiring for multiple roles. [Check]
Tropic gained $40M. The Series B round, led by Insight Partners, comes a few months after Tropic’s $25 million Series A round in August. Tropic makes the software buying process for tech companies easy with its tools, data and services to automate the purchasing process. The new funding will go toward its global consumer reach, accelerating its product research and development, expanding its team and launching new software modules. The company plans to nearly double its 90-person headcount and is actively hiring. [Built In NYC]
Blueland raised $20M. Blueland offers household cleaning products and personal care products in glass bottles to eliminate single-use plastic waste. The company raised $20 million in a Series B round led by Prelude Growth Partners. The funding will go toward expanding Blueland’s direct-to-consumer and retail reach and creating new products. The company will also be hiring, with plans to add at least 20 new employees. [Built In NYC]
