The NYC tech scene never sleeps, and it’s always growing. Last week, tech companies from the Big Apple raised funding to scale their innovations in fintech, artificial intelligence and more. Keep reading to catch up on the NYC tech news you might have missed. This is the Built In NYC Weekly Refresh.
Amelia pulled in $175M. Amelia transforms the latest conversational AI innovations into enterprise-grade software. The company will use this strategic investment from BuildGroup and Monroe Capital to accelerate the adoption of its product and “safely navigate the high-profile chatbot news cycle in this emerging AI age.” [PR Newswire]
Droit landed $23M. Founded in 2012, Droit is the developer of the Adept platform, which decides in real-time which financial transactions are legally permissible in the capital markets sector. Co-led by Pivot Investment Partners and UBS, this Series B investment will help Droit expand into the wealth management sector with new products like Cross Border and Product Suitability. [PR Newswire]
Candidly scored $20.5M. The fintech company, which was formerly known as FutureFuel.io, uses AI technology to identify optimal strategies for users to repay their student loans. Financial services firms like UBS, Fiserv and Vanguard have used this technology to help borrowers pay down their loans. Candidly also helps employers contribute to their employees’ student loan payments. [Built In NYC]
NYC Tech Quote of the Week
“If you can enable self-hosting, it’s a much more natural way to redirect the money to that open-source vendor because they can create whatever features that are needed for the product to monetize.” — Michael Guarino, co-founder and CTO of Plural
Plural was featured in the Built In Future 5 series. Our quarterly series about early-stage tech companies came to a close with a feature article on Plural. The startup allows tech companies to ditch managed services from cloud providers and host open-source software in their own cloud environment. Managing open-source applications has traditionally required site reliability engineers or a DevOps team, but Plural makes it easy for companies to manage these applications with Kubernetes. [Built In NYC]
Fynn secured an $11M seed round. Fynn has provided more than $4 million in private student loans for students who want to attend one of 150 qualifying trade schools in construction, manufacturing, medical technology and other industries. Last week, the company announced it raised $11 million in seed funding and a $25 million debt facility to expand its services across the U.S. [PR Newswire]
BACH bagged $9M. BACH is a free app that helps with the organization of bachelorette parties. The app suggests fun group experiences, like boat tours, party buses and group classes. It also provides tools to help groups vote on potential activities, coordinate travel plans and split shared expenses. This Series A funding will help BACH double its geographic footprint from 15 cities to 30. [Built In NYC]
