In July 2024, Altana, a supply chain management startup founded by Evan Smith, raised $200 million in a Series C funding round led by the US Innovative Technology Fund. The round also saw participation from notable investors like Generation Investment Management, Salesforce Ventures, and OMERS Ventures. This latest funding round values Altana at $1 billion, marking its entry into unicorn status. The company, which was founded in 2019, leverages AI to provide deep insights and risk management solutions for global supply chains, helping businesses navigate complex challenges such as trade restrictions and climate change.
In March 2024, Axonius, a leader in cybersecurity asset management, secured $200 million in an extension of its Series E funding round. This round, led by Accel and Lightspeed Venture Partners, will help accelerate the company’s global expansion and product innovation. Axonius crossed $100 million in annual recurring revenue in 2023 and continues to grow its customer base, which includes major organizations such as Schneider Electric and the U.S. Department of Defense. The company's platform is now used by over 500 organizations globally.
In November 2023, BlueVoyant, a prominent cybersecurity firm co-founded by James Rosenthal, acquired Conquest Cyber, a SaaS-based cybersecurity company. This acquisition was part of a strategic move to enhance BlueVoyant’s product and service offerings, particularly in risk management, detection, and response. Alongside the acquisition, BlueVoyant also raised over $140 million in a Series E funding round led by existing investors, including Liberty Strategic Capital and ISTARI. This funding and acquisition will enable BlueVoyant to offer a more comprehensive cybersecurity solution, particularly to clients in highly regulated environments such as the U.S. Defense Industrial Base.
In 2024, Collaborative Fund, founded by Craig Shapiro, raised $125 million for its sixth flagship fund. The fund will focus on early-stage investments in climate, health, and food sectors, supporting startups that aim to create significant social impact.
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In April 2024, Cyera, a leader in data security founded by Yotam Segev (CEO) and Tamar Bar-Ilan (CTO), raised $300 million in a Series C funding round, bringing its valuation to $1.4 billion. The round was led by Coatue, with participation from new investors like Spark Capital, Georgian, and AT&T Ventures, as well as existing backers including Sequoia, Accel, and Redpoint. This funding will be used to enhance Cyera's AI-driven data security platform and expand globally, addressing the increasing demand for data security solutions in the age of AI and growing regulatory pressures.
In July 2024, Earned Wealth, a tech-enabled financial services firm incubated by Juxtapose and focused on the needs of medical professionals, secured a $200 million investment led by Summit Partners and Silversmith Capital Partners. The company, founded by John Clendening, plans to use this funding to expand its platform through product innovation and strategic acquisitions. As part of this growth strategy, Earned Wealth also acquired Thomas Doll, a financial services firm serving medical professionals, to broaden its service offerings and accelerate growth. The combined company now manages over $2 billion in assets and serves more than 3,000 clients.
In 2024, FMX, a new futures exchange developed by Howard Lutnick's BGC Group, received regulatory approval from the U.S. Commodity Futures Trading Commission (CFTC) to operate a futures exchange for U.S. Treasury and SOFR contracts. FMX aims to directly compete with the CME Group by leveraging BGC’s Fenics UST platform, which has already captured a significant share of the U.S. Treasury market. The FMX Futures Exchange will launch in the summer of 2024 and is positioned to offer substantial competition in the U.S. interest rate futures market, a space traditionally dominated by CME.
FundGuard is a financial technology company that provides a comprehensive investment management platform designed for asset managers and financial institutions. The company was founded by Lior Yogev, Uri Katz, Yaniv Zecharya. In August 2023, FundGuard raised $130 million in Series C funding led by CapitalG, with participation from existing investors including J.P. Morgan and Citi Ventures. The funds will be used to further develop their cloud-based platform, enhance their product offerings, and expand their market presence .
In July 2024, Hebbia, an AI startup founded by George Sivulka, raised $130 million in a Series B funding round led by Andreessen Horowitz, with participation from Index Ventures, Google Ventures, and Peter Thiel. This round values the company at $700 million. Hebbia’s AI platform is designed to allow knowledge workers to search through large datasets and documents using natural language, providing a more human-like interaction with AI. The funds will be used to further enhance the platform’s capabilities and support its growing customer base, which includes asset managers, law firms, and Fortune 100 companies.
In February 2024, Inspired Capital, founded by Alexa von Tobel and Penny Pritzker, closed its third fund, Inspired Capital Fund III, with $330 million in total capital commitments. This brings the firm's total assets under management to nearly $900 million. The fund will continue to focus on early-stage investments, backing ambitious founders solving some of the most challenging problems in areas like fintech, health tech, and more.
In April 2024, Mented Cosmetics, a Black-owned beauty brand co-founded by KJ Miller and Amanda E. Johnson, was acquired by West Lane Capital Partners. The acquisition follows distribution challenges that forced Mented to halt orders earlier in the year. The deal is expected to help the company resolve its supply chain issues and relaunch in the summer of 2024, with continued focus on its mission to provide beauty products for diverse skin tones.
Pitch and Run was founded to support founders and help connect founders with Angels, VCs, and investors without the pressure of a pitch meeting. In addition to investing, Pitch and Run founders connect with other founders and startup employees. Many founders have raised their round, found customers, their co-founders, and even sold their companies from connections made at Pitch and Run. We also run races together including the NYC Marathon.
In March 2024, Rightway, a healthcare technology company co-founded by Jordan Feldman, raised $100 million in Series C funding at a valuation of $1.1 billion. This round was led by Khosla Ventures, with participation from Thrive Capital and Tiger Global Management. The funds will be used to expand Rightway's innovative pharmacy benefit management (PBM) platform, RightwayRx, which aims to revolutionize the PBM industry by introducing transparency and alignment in healthcare, ultimately reducing costs for both employers and employees.
Spring Health raised $300M in Series D in March 2024, led by Coatue Management. The funds will enhance their mental health services and support global expansion.
In June 2024, Talkiatry, a leading telepsychiatry provider co-founded by Robert Krayn and Dr. Georgia Gaveras, secured $130 million in Series C funding. The round was led by Andreessen Horowitz, with additional participation from Perceptive Advisors and debt financing provided by Banc of California. This funding will be used to expand Talkiatry's value-based care model, which focuses on delivering high-quality, in-network psychiatric services across 43 states. The company, which employs over 300 full-time psychiatrists, aims to increase its reach and deepen its partnerships with health systems and insurers, ultimately helping more Americans access affordable mental health care.
In 2024, Valar Ventures, co-founded by Peter Thiel, Andrew McCormack, and James Fitzgerald, closed its ninth fund at $300 million. The firm, known for its focus on fintech, will use this capital to continue backing early-stage startups outside of Silicon Valley.
In December 2023, Vestwell, a fintech company focused on workplace savings programs, raised $125 million in a Series D funding round led by Lightspeed Venture Partners. This round also included participation from Fin Capital, FinTech Collective, and new investors like Blue Owl and HarbourVest. Founded by Aaron Schumm, Vestwell has quickly grown into a leading provider of digital recordkeeping services for small and emerging businesses, particularly benefiting from regulatory initiatives like the SECURE 2.0 Act. The funds will be used to expand their platform, enhance state-sponsored auto-IRA programs, and further support the retirement savings needs of small businesses across the U.S.
In March 2024, Wonder, the food delivery platform founded by Marc Lore, raised $700 million in a funding round led by existing investors such as NEA, GV, and Accel, with new contributions from Dragoneer and Jefferies. This funding will support Wonder's ambitious growth plans, which include expanding to 90 locations by 2026 and enhancing its proprietary technology to streamline operations. The company aims to continue developing its "super app of mealtime," allowing customers to order from multiple restaurants with a single delivery. Additionally, Wonder recently completed the acquisition of Blue Apron, further solidifying its position in the food tech space.
In late 2023, Eniac Ventures, co-founded by Hadley Harris, Nihal Mehta, Vic Singh, and Tim Young, raised $220 million across two funds, including their first select fund. These funds will be used to continue investing in transformative seed-stage startups.
In April 2024, AlleyCorp, co-founded by Kevin Ryan, closed a new $250 million fund. This fund, supported by a select group of limited partners, will continue AlleyCorp's mission of incubating and investing in transformative companies, primarily within New York City. The firm plans to leverage this fund to fuel early-stage startups across various sectors.
In June 2024, AlphaSense, a leading market intelligence platform, raised $650 million in a funding round co-led by Viking Global Investors and BDT & MSD Partners, boosting its valuation to $4 billion. Additionally, AlphaSense agreed to acquire Tegus, a provider of expert research and financial data, for $930 million. This acquisition is expected to significantly enhance AlphaSense's product suite, enabling the company to offer even more comprehensive market insights to its clients. The transaction is set to close in Q3 2024.
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In January 2024, Bilt Rewards, a loyalty platform that allows users to earn rewards on rent payments, raised $200 million in a funding round led by General Catalyst, bringing the company's valuation to $3.1 billion. The round included participation from Eldridge Industries, Left Lane Capital, Camber Creek, and Prosus Ventures. The company, founded by Ankur Jain, has appointed Ken Chenault, former Chairman and CEO of American Express, as its Chairman, and Roger Goodell, the NFL Commissioner, as an Independent Director. The funds will be used to expand Bilt's rewards program and further develop partnerships across the residential real estate and neighborhood markets.
In December 2023, BoxGroup, co-founded by David Tisch, closed two new funds totaling $425 million. The funds—BoxGroup Six and BoxGroup Picks—will support early-stage startups, particularly at the pre-seed and seed stages. These funds aim to back 40 to 50 new startups across various sectors, including climate tech, marketplaces, health tech, and fintech.
In May 2024, Contour Venture Partners, led by founding partners Matt Gorin and Bob Greene, made progress on its fifth flagship fund, closing on $70 million. Contour continues to focus on seed and early-stage investments, particularly in SaaS, digital media, and financial services sectors, with a preference for companies based in New York or the Northeast.
In July 2024, Coro raised $100 million in a Series C funding round led by Accel, with participation from existing investors including Insight Partners and UpVentures. The new funding will be used to expand Coro's platform capabilities, increase market penetration, and enhance their advanced threat detection and response features.
In April 2024, the Drone Racing League was acquired by Infinite Reality, a leading provider of AI-powered immersive experiences, for $250 million. This acquisition, which bolsters Infinite Reality’s position as a global leader in immersive technology, will integrate DRL's advanced media and sports technology with Infinite Reality's platform. The deal is expected to enhance fan engagement through more interactive and immersive experiences, positioning DRL to further revolutionize the sports entertainment landscape.
In June 2024, EvolutionaryScale, an AI-driven biotechnology startup focused on protein discovery, raised $142 million in a seed funding round. This round was led by Nat Friedman, Daniel Gross, and Lux Capital, with significant participation from Amazon Web Services and NVIDIA. The company, co-founded by Alex Rives, Tom Sercu, and Sal Candido—former Meta employees—has developed ESM3, a groundbreaking AI model that can design new proteins, accelerating drug discovery and other biological research. The funds will be used to further develop their AI platform and expand partnerships within the biotechnology industry.
In June 2024, Formation Bio, a biotech company leveraging AI to accelerate drug development, raised $372 million in a Series D funding round led by Andreessen Horowitz, with significant participation from Sanofi and other investors. The funds will be used to acquire and license new drug candidates, as well as to further enhance their AI-driven platform, which aims to streamline clinical trials and drug development processes. This round brings the company's valuation to a significant increase from its previous $1 billion valuation, further solidifying its position in the biotech industry.
In April 2024, Headway, a mental health platform founded by Andrew Adams, raised $150 million in a Series C funding round. The round was led by Insight Partners, with participation from General Catalyst and Tiger Global Management. Headway aims to expand its network of mental health providers and improve access to affordable therapy. The funds will be used to scale its services across the U.S., enhance its platform for both patients and providers, and invest in new technology to facilitate better mental health care .
In July 2024, Index Ventures, with key partners including Danny Rimer and Mike Volpi, closed $2.3 billion across two new funds: an $800 million venture fund and a $1.5 billion growth fund. The funds will back transformative startups globally, particularly those in AI and other emerging technologies.
In November 2023, Interplay Ventures, co-founded by Mark Peter Davis, Kevin Tung, and Mike Rogers, closed its third fund with $45 million in capital commitments. The firm, which focuses on Series A investments, primarily targets software companies, including B2B marketplaces and vertical software. This latest fund increases Interplay's total assets under management to $150 million, allowing them to invest in around 20 companies and continue supporting their portfolio with follow-on funding.
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In April 2024, Ramp, a leading financial automation platform, secured $150 million in a Series D-2 funding round, raising its valuation to $7.65 billion. This round was co-led by Khosla Ventures and Founders Fund, with participation from other prominent investors such as Sequoia Capital, Greylock, and 8VC. The funds will be used to further develop Ramp's AI-driven financial management tools, including enhancements in spend management, procurement, and productivity software. Eric Glyman, co-founder and CEO, emphasized that this funding will allow Ramp to continue innovating and providing greater value to its customers, particularly through expanded AI capabilities and strategic acquisitions.
In June 2024, Salt Labs, an enterprise technology company focused on enhancing financial stability for hourly workers, was acquired by Chime, a prominent fintech firm. Founded in 2022 by Jason Lee, Alison Stapleton, Konstantin Getmanchuk, and Robert Law, Salt Labs developed an innovative employee rewards program designed to function like a savings account. This acquisition will allow Chime to integrate Salt Labs' technology into a new business unit, Chime Enterprise, aimed at expanding Chime’s reach through employer-based channels and enhancing financial services for everyday Americans.
In June 2024, Sustain.Life, a sustainability-focused startup co-founded by Mike Hanrahan and Annalee Bloomfield, was acquired by Workiva for $100 million. This acquisition is part of Workiva's strategy to enhance its carbon accounting and ESG reporting capabilities. Sustain.Life's platform, which helps businesses track and report their carbon emissions, will be integrated into Workiva's existing suite of financial and sustainability reporting tools, now rebranded as Workiva Carbon. This acquisition aligns with the growing need for comprehensive solutions to meet global climate regulations.
In November 2023, Twelve Below, a New York-based venture capital firm co-founded by Taylor Greene and Byron Ling, announced the successful closing of $108 million across two new funds—an $80 million early-stage fund and a $28 million opportunity fund. The firm will continue to focus on pre-seed and seed investments in fintech, healthcare, energy, SMB, and consumer sectors, with the opportunity fund enabling them to double down on their existing portfolio companies. This brings their total assets under management (AUM) to $160 million.
In December 2023, VAST Data, co-founded by Renen Hallak, secured $118 million in a Series E funding round led by Fidelity Management & Research Company, with participation from New Enterprise Associates (NEA), BOND Capital, and Drive Capital. This latest round significantly increased the company’s valuation to $9.1 billion, up from $3.7 billion in 2021. The funds will be used to expand VAST Data’s AI-focused infrastructure platform, which is designed to optimize data management across data centers and cloud environments, especially for AI workloads. The platform is already being adopted by major enterprises, including Booking Holdings, Verizon, and the U.S. Department of Energy.
In May 2024, Wiz, a leading cloud security company co-founded by Assaf Rappaport, announced it had raised $1 billion at a valuation of $12 billion. This round, led by Andreessen Horowitz, Lightspeed Venture Partners, and Thrive Capital, brings Wiz's total funding to $1.9 billion. The funding will be used to expand its cloud security platform, drive future M&A activities, and prepare for a potential IPO. Additionally, Wiz has been in talks with Alphabet for a potential $23 billion acquisition, though these discussions reportedly ended in mid-2024.
YC has no employees in NYC, but invested in 45 NYC companies in 2024, not to mention that YC alumni invested in NYC compaines 10 times over the last year. On top of that, NYC is home to a ton of former YC participants, making its impact from across the country outsized relative to all the funders that are actually located here.