In another lively week for the Big Apple, several new developments are coming to the NYC tech space. Read more to find out what’s new from last week. This is the Built In NYC weekly refresh.
Cockroach Labs secured $160M. After a year of substantial growth, this Series E round for the enterprise software developer will enable it to continue scaling in the data marketspace with its cloud-based transactional database. It plans to double its team of 200 and is currently hiring across all departments. The funding round was led by Altimeter Capital. [Built In NYC]
Paige raised $100M. The company uses AI-powered digital diagnostics to conduct research in the pathology field. With Paige’s platform, doctors can share analysis with hospitals and labs to help diagnose patients with cause and effect diseases such as cancer. The funding from its Series C led by Casdin Capital and Johnson & Johnson Innovation will enable Paige to double its 70-person team and build more AI products. [Built In NYC]
NYC Tech Quote of the Week
The way NYC uses hiring algorithms may change. The New York City Council is looking into a bill that details new rules for the use of AI in hiring practice. With the new bill, creators of these algorithms would have to complete audits once a year to ensure a lack of bias in their tech. Additionally, companies that use the tech would be required to let job applicants know when they’ve been evaluated by these AI systems. We spoke with Stoyanovich, a proponent of the bill, about the proposal. [Built In NYC]
Bombas expands its product offerings. This online marketplace for clothing essentials has added underwear to its inventory alongside its trademark socks and T-shirts. Bombas prioritizes developing comfortable apparel with a durable lifespan. It offers basics for men and women with a wide range of sizes. [Built In NYC]
Clyde brought on Pamela Schneider as VP of warranty. The insurtech company streamlines the process of purchasing product protection plans, aiming to help businesses better serve their customers. Having worked in the warranty and insurance space for more than two decades, Schneider anticipates working with Clyde to change the warranty industry for the better in her new position. [Clyde]
