As people are getting back from their Labor Day vacations, it seems like they’re working hard to make up for time off. As a result, the NYC tech scene was extra busy in the past week. Here’s the news you may have missed. This is the Built In NYC weekly refresh.
Spring Health raised $190M in its Series C round. This brings the health tech company’s valuation to $2 billion. On top of this, Spring Health announced it was launching its family mental-health solution on a global scale. Spring Health offers virtual mental-health services and has seen a significant increase in demand due to the ongoing global pandemic. [Spring Health]
Melio got $250M in its Series D. This comes just a year after Melio launched from stealth. It also brings the company’s valuation to $4 billion in a short amount of time. The business payments startup hopes to use the new funds to partner with more financial institutions, software providers and marketplaces. [Built In NYC]
NYC TECH QUOTE OF THE WEEK
VC firm Inspired Capital closed its second fund. The fund, which raised $281 million, was “highly oversubscribed” and one of the largest women-led funds in the U.S. this year. This money will be invested into seed and Series A funding rounds for innovative young tech companies. [Built In NYC]
Financial solutions platform SellersFunding raised $166.5M. The capital comes from a combination of Series A equity and a credit facility. SellersFunding has created a platform to help e-commerce companies scale their business. This new capital will help SellersFunding grow its global footprint, in order to reach e-commerce sellers across the world. After launching in 2017, the company now has over 30,000 registered users and is nearing $10 billion in total sales volume. [TechCrunch]
Proptech Ribbon got $150M. This new investment comes at a time when the residential housing market is extremely competitive for homebuyers, meaning buyers are constantly looking for anything that will give them an edge over others. Ribbon allows those buyers to make all-cash offers in order to make offers more appealing to sellers. This has led to 15x growth for the company over the past year, and the new funding will help Ribbon continue that momentum. [Built In NYC]
Tia secured $100M in new funding. The company aims to be the go-to destination to serve women for their medical needs. This involves in-person and virtual health services across gynecology, primary care, mental-health and wellness services. Tia was founded in 2017, and has since raised $132 million. This new funding will help the company continue expanding across the country, with the goal of delivering its wholistic care approach to over 100,000 women by 2023. [Business Wire]
Grailed raised a $60M Series B. Grailed has developed an online marketplace where people can buy and sell fashion, footwear and other hyped items. This puts it in direct competition with sneaker reselling platform GOAT Group, who led the latest funding round. Over the past year or so, GOAT has also been making an effort to expand into fashion — an area where Grailed has thrived for quite some time. This investment allows GOAT to get a stake in its rival company, so the two can lead the sneaker and fashion resale market together. [Built In NYC]
