April was a bizarre month for New York City. Snow days, wild winds and the occasional spot of sunshine left everyone uncertain how to feel and/or dress. When it comes to tech fundings, though, the city was anything but hot and cold. The unwavering strength of the city’s technology scene proved itself once again as startups raked in more than $629 million over the course of 30 days. To keep you in the loop, we’ve rounded up the top five fundings. Read on.
5. Aetion, $36.4 million, April 11
Investors: New Enterprise Associates (lead), Oxeon Partners, Lakestar, Flare Capital Partners, Amgen Ventures
Bio: Aetion, founded by Harvard Medical School faculty and industry leaders in big data, is a platform that helps connect medical providers with professionals in device and pharmaceutical industries. The goal is for industry insiders to collaborate on ideas that will better patients’ lives.
News: The $36.4 million funding acts as Aetion’s Series B round. The company plans to use the fresh funds to expand their engineering team and, as a result, better the functionality of its product. [Read More]
4. WorkFusion, $50 million, April 5
Investors: Declaration Partners (Lead), Hawk Equity (Lead), iNovia Capital, NGP Capital, Georgian Partners
Bio: WorkFusion, founded in 2010, develops AI-based products that aid enterprise-level automation. The company’s unique products automate tasks like filing, data processing and more at some of the leading health, finance and insurance companies.
News: The massive Series E round will go directly toward the scaling of WorkFusion’s product. According to CEO Alex Lyashok, demand for the WorkFusion product grew “850 percent in 2017.” The company has been preparing for growth with a number of new key hires, particularly at the senior level. [Read More]
3. BetterCloud, $60 million, April 5
Investors: Bain Capital Ventures (Lead), Tribeca Venture Partners, New Amsterdam Growth Capital, Greycroft, Flybridge Capital Partners, Accel Partners
Bio: Since 2011, BetterCloud’s platform has helped more than 2,500 clients in over 60 countries manage, streamline and secure their SaaS tools.
News: This Series E round helps secure BetterCloud’s spot as one of the leading SaaS companies. The impressive $60 million will be divided between sales, marketing and product with the intent to scale the company at all levels. [Read More]
2. Knotel, $70 million, April 10
Investors: The Sapir Organization (Lead), Newmark Knight Frank (Lead), Wolfson Group, Wainbridge Capital, The Moinian Group
Bio: Knotel helps companies design and and construct office spaces that are personal, forward-thinking and completely unique. Post-build, the client’s internal operations continue to be served by Knotel’s Office System.
News: It’s hard to believe this $70 million funding is only Knotel’s Series B effort, as the company has made a significant impact on the NYC real estate market since its 2016 founding. Knotel plans to use the capital injection to double the size of its operations in both current and new markets.
1. fuboTV, $75 million, April 18
Investors: AMC Networks (Lead), Sky, Scripps Networks, Northzone, Luminari Capital, 21st Century Fox
Bio: Founded in 2014, fuboTV offers a bundled subscription service for premium live sports content in addition to cable networks, on-demand TV series and more.
News: fuboTV’s Series D round will go toward engineering hires, as well as the expansion of premium networks available to fuboTV’s customers. The backing of major film and TV networks like AMC and 21st Century Fox indicates that the mainstream is putting more and more confidence into FuboTV’s business model.