The first week of January is typically a slow time for business news as companies rebound from the holidays and chart a course for the new year. Several NYC tech companies did start 2022 off with a bang, though, by announcing new funding and acquisitions. Catch up on the tech news you might have missed with the Built In NYC Weekly Refresh.
Snaptrude landed $6.6M. For decades, architects and engineers used AutoCAD and other Autodesk products to create 3D building designs. NYC startup Snaptrude hopes to shake up that industry with its cloud-based platform accessible through a web browser. The seed funding round, co-led by Accel and Foundamental VC, brings the company’s total funding to $7.8 million to date. [TechCrunch]
NYC Tech Quote of the Week
“That one paragraph that some lawyer wrote on page 95 of the terms of service that no human being has ever read is no longer good enough. But if you get explicit consent and if the user says, ‘Yes, I understand what you’re asking me. I’m cool with it, and here’s what I want in exchange for being cool with it,’ then the whole system begins to work again.” — John Roa, founder of Caden
Caden raised $6M. With a wave of new data privacy laws coming online, entrepreneur John Roa launched Caden to help users collect their personal data from their apps, choose how much data they consent to share with data buyers and profit from the sharing of that data. The startup raised $6 million last week, which the company expects to use to grow its NYC office from 24 to 34 employees. Caden’s mobile app is currently in private beta and is expected to launch in mid-February. [Built In NYC]
These 11 NYC tech companies collectively raised more than $5.3B in 2022. As we celebrate the start of the new year, Built In NYC took a look back at the 11 largest funding rounds raised by NYC tech companies last year. These funding rounds generated more than $5.3 billion for companies across fintech, cryptocurrency and artificial intelligence. [Built In NYC]
Sterling acquired Socrates. Sterling, a NYC-based company that provides background screening and other identity verification services for enterprise clients, announced last week that it acquired Socrates, a Latin America-based background screening company, for an undisclosed amount. Sterling said in a statement that the acquisition would help the company expand in Latin America, which will help it meet the hiring needs of its clients. [GlobeNewswire]
