Even a holiday weekend in July can’t stop NYC tech from raising massive funds. From cyber security to real estate these startups are making a huge name for themselves in the NYC tech scene. Totaling an epic $832 million in funding, here are the top five raises from July.
#5 (tied), $50 million, July 15
What they do: BigID is a cybersecurity company that uses machine learning to help companies protect and secure their employees’ and customers’ data. The company also complies with data protection regulations. BigID also has a certification program that helps professionals stay on top of the cutting edge cybersecurity technology.
The funding: On July 15, BigID secured their vast fund of $50 million. The latest Series C brings BigID’s total funding to over $96 million. According to CTech, BigID is still in the process of raising more to surpass $50 million. The company is currently hiring in roles around the world.
#5 (tied), $50 million, July 17
What they do: AlphaSense has built an AI search engine that allows enterprises and investment firms to easily sift through internal and external content to find the most relevant data. The engine searches specifically for market intelligence amongst competitors. The company has more than 1,000 customers and is headquartered in NYC.
The funding: AlphaSense closed $50 million in a Series B on July 17. Innovation Endeavors led the funding, bringing the company to a total fundraise of $90 million. The funds will be used to add new features to the smart AI engine and expand its 200-person team.
# 4, $52 million, July 9
What they do: Signpost aims to help local businesses by providing information to better understand their customers. The company’s cloud-based platform captures customer data, makes payments easier and automates marketing so small companies can compete with big, well-established companies and brands.
The funding: On July 9, Signpost announced a $52 million round. The funding will be used to scale and grow. The company plans to move into a new NYC HQ and also hire in their two other offices, Austin and Denver. The round was led by HighBar Partners and BMO Bank of Montreal.
#3, $150 million, July 30
What they do: Monday.com is a work management tool that helps 70,000 companies, including WeWork, communicate and collaborate more easily. The software tool integrates with Salesforce and Mailchimp. The company has headquarters in NYC and Tel Aviv.
The funding: Monday.com ended the month with a massive raise of $150 million, which brings the company’s funding to $234 million. According to the company, the latest round will be used to grow the company and scale internationally. Leading the Series D was Sapphire Ventures.
#2, $160 million, July 22
What they do: MoneyLion is a virtual bank that consolidates all users’ cards and bank accounts into one application. The company was founded in 2013 and includes features like applying for a loan, personalized financial advice and a network of fee-free ATMs. Thanks to its high growth, the bank already has five million customers on their app.
The funding: On July 22, MoneyLion announced their whopping funding of $160 million, co-led by Edison Partners and Greenspring Associates. According to a press release, the latest cash will be used to bring on more subscribers and roll out new tools. After the big raise, the company approaches unicorn status.
#1, $370 million, July 30
What they do: Compass is a real estate tech company that helps both home buyers and sellers. The platform connects home-buyers with 13,000 agents as well as an up-to-date list of suitable homes. Meanwhile, home-sellers can list their home with their Compass Concierge Program. The real estate giant is headquartered in New York City with 2,200 employees across the world.
The funding: Compass’s $370 million funding on July 30 marks another milestone of continued growth. This Series G means the company has raised more than an impressive $1.5 billion in total. According to the company, the massive funds will go toward building out the company’s AI platform.
