NYC tech companies made some big venture capital gains in 2019, with the top 10 rounds garnering a total of over $5B. Infor topped the list with a staggering $1.5B, but The We Company stayed close behind with their $1B in VC equity funding. We’ve collected the top 10 funding rounds from this year below.
Top NYC Funding Rounds for 2019
- Infor: $1.5 billion
- WeWork: $1 billion
- CommonBond: $750 million
- UiPath: $568 million
- Knotel: $400 million
- Compass: $370 million
- Lemonade: $300 million
- Gympass: $300 million
- Celonis: $290 million
- Vroom: $254 million
#10, $254 million, December 6
The used car company offers both a website and app, and uses a private seller acquisition model. It sells reconditioned vehicles directly to consumers. The Series H round brings its total funding to $712M since its launch in 2013.
#9, $290 million, November 21
The process mining company uses an AI-driven platform to analyze a company’s event logs and identify inefficiencies across areas like finance, sales, customer service and IT. This Series C funding, led by Arena Holdings, brought it to a $2.5B valuation. With the capital, the company will expand some platform features and grow its U.S. sales and marketing teams.
#7 (tied), $300 million, June 12
Gympass gives the company’s corporate partners the ability to offer discounted, unlimited gym and fitness class access to their employees. SoftBank Vision Fund, whose portfolio includes companies like Uber and Alibaba, led the round. The round brought the company’s valuation to over $1B, elevating them to unicorn status.
#7 (tied), $300 million, April 11
Founded in 2016, the mobile-first home and renter’s insurance company offers insurance packages starting at just $5 a month. SoftBank Group led the Series D round, which brought Lemonade’s valuation to $2B. The company donates leftover money from unpaid claims to charitable causes chosen by its customers.
#6, $370 million, July 30
Compass connects home buyers and agents while also offering a list of available homes. The Series G puts its total funding at over $1.5B. The company will use the money to build out its AI platform.
#5, $400 million, August 21
Knotel launched in 2016 as a coworking space alternative that focuses on mid-level and enterprise companies. The financing round, led by Wafra, brought its valuation to $1B. While the company plans to purchase more office spaces with the funds, it will also invest in its technology.
#4, $568 million, April 30
The Series D funding round, led by Coatue, brought UiPath’s total valuation to $7B. The robotics company develops software that automates repetitive tasks currently done by humans. It will use the funding to scale front-office operations.
#3, $750 million, February 14
The fintech company offers financing for student loans, and launched nationally in 2013. The funding round, meant to increase its lending capacity and launch new products, saw the backing of Barclays, BMO, Citibank, Goldman Sachs and ING.
#2, $1 billion, January 9
The We Company received a billion-dollar Series H investment from SoftBank at the beginning of the year, at which time it also rebranded from WeWork. The company has since raised several rounds of debt financing.
#1, $1.5 billion, January 16
The huge investment came from Koch Equity Development and Golden Gate Capital. Infor’s enterprise software products help to manage supply chains and transportation, among other client-specific services. Infor plans to use the funds to pay off some debts prior to going public.
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