From gender-neutral kids’ clothing to e-commerce for prescription drugs, it’s been an active month for venture capital in New York City. Here are the five companies that came out on top.
#5, $20 million, September 26
What they do: Primary is an e-commerce company that makes gender-neutral kids’ clothing with “no logos, no slogans, no sequins.” The company has doubled sales year over year, its founders told Built In, and will close out 2019 with more than $50 million in revenue.
The funding: Primary is launching its first products for adults with a line of unisex pajamas. It will also experiment with brick-and-mortar stores, the company said.
#4, $25 million, September 4
What they do: EVEN makes APIs that help financial institutions — like American Express, Goldman Sachs, and SoFi — acquire customers through channels like The Smart Wallet and The Penny Hoarder.
The funding: EVEN will use this funding to expand its platform and add features for mortgage, insurance and student loan marketplaces.
#3, $40 million, September 17
What they do: One Drop makes a compact blood glucose monitor that’s paired with an app that provides behavioral cues and health reminders to people with Diabetes. The platform uses AI to help patients self-manage their health through personalized recommendations and one-on-one coaching.
The funding: The pharmaceutical company Bayer led the round, and licensed One Drop’s platform to use in the treatment of other conditions, like cancer or heart disease.
#2, $50 million, September 25
What they do: Group Nine Media is a digital-first media company, formed when NowThis, Thrillist, Seeker and the Dodo merged in 2016. While originally known for viral videos, it now produces documentaries, events, cable-TV shows and video series.
The funding: People familiar with the matter said the new investment values the media company at more than $600 million, the Wall Street Journal reported. Discovery Inc. and Axel Springer SE participated in the round, and Group Nine will continue to produce short- and long-form video content that's accessible across devices.
#1, $200 million, September 13
What they do: Capsule is an online pharmacy that delivers prescription medications to users at home. It is one of the only internet-based companies in the $425 billion prescription drug industry.
The funding: Capsule currently operates only in New York, but with this new funding, it plans to expand across the country starting in 2020.