The five largest funding rounds in the NYC tech scene generated a collective $589 million last month. The funding went toward innovations in clinical trials, patient enablement and other fields. Keep reading to see which NYC tech companies attracted the most funding in January.
Largest NYC Tech Funding Rounds, January 2023
- Paradigm
- VettaFi
- Chronosphere
- Pearl Health
- Precision Neuroscience
#5. Precision Neuroscience: $41 million, January 25
Precision Neuroscience has developed a brain implant that can allow paralyzed individuals to communicate by decoding their neural signals. The implant can be installed surgically with an incision that is less than a millimeter thick. This Series B funding round will allow the company to evolve its product, hire additional employees and progress through regulatory review.
#4. Pearl Health: $55 million, January 26
Pearl Health uses data science to help clinicians provide proactive care for patients who are more likely to need it. The company will use its $55 million Series B round and a $20 million line of credit to form new partnerships, expand its services and invest in research and development.
#3. Chronosphere: $115 million, January 9
Chronosphere is a cloud-native data observability company that helps engineering teams quickly identify and remediate customer-facing issues. This $115 million funding round valued the company at $1.6 billion, which is an increase from the $1 billion valuation it received alongside its $200 million Series C raise in 2021.
#2. VettaFi: $175 million, January 9
VettaFi, which formed in May after the merger of several index fund platforms, provides financial advisors, asset managers and institutional investors with data, analytics and research about index funds and exchange-traded funds. In January, TMX Group invested $175 million in the company, acquiring 21 percent of its equity.
#1. Paradigm: $203 million, January 25
NYC startup Paradigm launched out of stealth last month with a platform that will make it easier for community hospitals and clinics to participate in clinical trials. The startup says this will streamline the burdensome clinical trial process and expand access to more people. This massive Series A round will help Paradigm expand its platform and scale partnerships with healthcare systems and life sciences companies.
