The tech capital of the East Coast secured a number of hefty funding rounds last month, several of which totaled nine digits. Learn which multi-billion-dollar New York companies are fueling significant growth in industries ranging from employee wellness to artificial intelligence.
Top NYC Tech Funding Rounds, August 2023
- Ramp
- Teamshares
- Hugging Face
- Tillman FiberCo
- Gympass
#5. $85 million, August 23
Valued at $2.4 billion following its Series F funding round, Gympass offers a corporate wellness solution that connects employees to its network of gyms, personal trainers, wellness apps and more. EQT Growth led the capital raise that will let Gympass accelerate global growth and product innovation.
#4. $200 million, August 10
Broadband network provider Tillman FiberCo announced a $200 million investment from Northleaf Capital Partners. The company will scale its operations as it works to provide next-generation network architecture to residential and business customers. As it scales, Northleaf will potentially invest up to an addition $300 million in the company.
#3. $235 million, August 25
Open-source artificial intelligence platform Hugging Face secured a $235 million round of Series D funding backed by investors including IBM. The round will go toward strengthening the company’s market position in the open-source and open-science AI sector.
#2. $245 million, August 18
The company uses software, education and financial tools to help employees build wealth through owning stocks in the small businesses they work for. Teamshares announced a total of $245 million in previously undisclosed funding, including a $124 million Series D spearheaded by QED Investors. The money will help Teamshares scale its model nationally and accelerate product development.
#1. $300 million, August 22
Operating an all-in-one enterprise platform designed to automate finance operations and help companies spend less, Ramp is furthering product development with a new round of funding. The company secured a $300 million Series D round co-led by Thrive Capital and Sands Capital to expand into adjacent categories and grow its team over the coming months across all functions.
