Venture funding has slowed considerably in recent years, but companies in the technology sector continue to make strides. Last year, local companies in industries spanning security, advertising, finance and energy pulled in generous capital raises to enhance their solutions and expand their businesses. Read on to learn how these rounds could shape an upcoming year of growth for the New York tech scene.
Largest NYC Tech Funding Rounds in 2023
- Wiz
- Madhive
- Ramp
- Clear Street
- Ambient Fuels
- SGP BioEnergy
#3 (tied). $250 million, October 5
Equipped with a round of equity funding from Global Emerging Markets, SGP BioEnergy plans to lay the groundwork for its zero-waste ecosystem, a biorefinery in Panama. The facility will be capable of producing 180,000 barrels of biofuel a day and generating 405,000 metric tons of green hydrogen each year.
#3 (tied). $250 million, May 17
Aiming to decarbonize industries like ammonia production, oil refining and heavy transportation, Ambient Fuels develops customizable hydrogen solutions for its business customers. The company secured an investment from Generate Capital that will go toward supporting the company’s product pipeline.
#2. $270 million, April 11
Prime broker Clear Street pulled in an additional funding injection from Prysm Capital that brought its Series B round to $435 million. The company is now valued at $2 billion and plans to expand the reach of its capital markets infrastructure into new markets and asset classes as well as accelerate its future product offerings.
#1 (tied). $300 million, August 22
Fintech company Ramp offers tech that helps businesses automate their finance operations. The company secured a Series D round of funding co-led by Thrive Capital and Sands Capital that will help it hire across all functions to better serve its growing customer base.
#1 (tied). $300 million, June 13
Adtech platform Madhive helps TV advertisers reach audiences at scale. The company pulled in an investment from Goldman Sachs to fuel the growth of its platform and its expansion into new areas, like direct-to-consumer advertisers and retail media networks. Madhive’s funding also went toward its goal of expanding its team by 20 percent last year.
#1 (tied). $300 million, February 27
Valued at $10 billion following its latest funding round, cloud security company Wiz made plans to double its 650-person headcount with last year’s Series D raise. The company shared plans to open new offices in U.S. markets including Austin, Dallas and Washington, D.C.
