Everything is more expensive in New York City, and that includes funding rounds. In a little over a week’s time, tech companies in Manhattan and the surrounding boroughs raised more than $180 million. You’ll want to keep these companies on your radar, since they’re raising big money and doing equally big things with it.
Funding: $70 million Series E.
Investors: Francisco Partners, Menlo Ventures, Bessemer Venture Partners, Kinnevik AB
What they do: Betterment is an online investment company that delivers personalized financial advice for a low fee cost. Using algorithms, the company’s “robo-advisors” help people invest their money.
What they’re planning: The funds will be used to provide users with more features, like a way for users to message a team of (human) financial advisors.
Funding: $47 million Series B.
Investors: Silicon Valley Bank, Horizon Technology Finance, Tribeca Venture, Greycroft Partners, RRE Ventures
What they do: PebblePost is a marketing tech company that transforms real-time online activity into dynamically rendered, personalized tangible media. Their platform integrates segmentation, campaign management, production, analytics and optimization.
What they’re planning: The latest funding round will be put toward enhancing their technology, expanding to new markets and meeting the demand of their existing brands.
Funding: $31 million Series C.
Investors: La Maison Interiors, Deutsche Telekom Capital Partners, Emerge, Bessemer Venture Partners, Baidu, Marker, Innovation Endeavors, Global Founders Capital, Vertex Ventures, ClalTech
What they do: Dynamic Yield is an adtech company that helps marketers increase revenue by automatically personalizing each customer interaction across a number of channels. They use machine learning to build actionable customer segments in real time.
What they’re planning: They’re using funds to accelerate an already increasing presence in Europe, as well as to launch new features by the end of this year.
Funding: $15.5 million Series B.
Investors: Big Sur Ventures, U-Start, Crosslink Capital, FJ Labs, General Catalyst, Novator
What they do: Rebagg is a re-sale service for luxury handbags. Users take a photo of the bag they’d like to sell, receive a quote and ship it or schedule a pickup if located in NYC.
What they’re planning: The latest funding round will be put toward growing their team and expanding on their pricing technology.
Funding: $13 million Series C.
Investors: TTV Capital, Gotham Ventures, Updata Partners, DFJ, North Atlantic Capital
What they do: LendKey is a lending-as-a-service solution for banks and credit unions. Using their technology, users can get low-interest loans from a network of community lenders.
What they’re planning: The funding will be used to expand LendKey’s services and staffing.
Funding: $4.8 million Series A.
Investors: Clark Valberg, RiverPark Ventures, Paul Appelbaum, Jason Finger, LaunchCapital, Bullpen Capital
What they do: BentoBox is a website-building platform for restaurant owners. It offers customizable features that require zero tech knowledge.
What they’re planning: The funding will go toward growing the sales team, as well as developing a new marketing tool for clients.
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