January was a busy period for Big Apple VC activity. Several tech companies raised nine-digit sums in fresh funding. Read more to find out how they’re going to invest all the new capital.
#6. $95 million, January 26
After experiencing substantial growth amid the pandemic, this insurtech company is aiming to continue that momentum. Rhino allows renters to pay small monthly fees in place of a large cash deposit. The capital from its $95 million round led by Tiger Global will go toward acquiring more renters and expanding its team to 200 members by the end of the year.
#5. $100 million, January 14
Alongside using AI-powered digital diagnostics to conduct research in the pathology field, this company’s platform also allows doctors to share analysis with hospitals and labs to help diagnose patients with cause-and-effect diseases. Paige’s $100 million Series C was led by investors Casdin Capital and Johnson & Johnson Innovation, and it’ll fund the creation of more AI tech as well as a hiring push.
#4. $110 million, January 25
Melio works to help SMBs transfer and receive payments more efficiently, and with $110 million in new funding led by Coatue, the newly minted unicorn is planning to fund the national expansion of its platform. It is also hiring at its NYC office. With its total funding to date reaching $254 million, Melio now boasts a $1.3 billion valuation.
#3. $132 million, January 19
Having pulled in its $132 million Series E round, the digital health startup has now brought in over $273 million in funding. Its platform works to help users get answers to their medical inquiries based on a database containing billions of health records. The round was led by GGV Capital and Valor Equity Partners and will allow K Health to further its pursuit of creating a global, integrated health system. It’s also hiring at its NYC headquarters.
#2. $160 million, January 12
The company designs enterprise software such as its transactional database, CockroachDB. It functions to ensure daily online processes like checking your bank balance or ordering an Uber work with no interruptions. With the close of its $160 million Series E led by Altimeter Capital, the company’s valuation has hit $2 billion. It plans to use the funds to pursue more growth and double its 200-person headcount.
#1. $300 million, January 25
Video software company Vimeo experienced record growth in 2020 and announced last month that it raised $300 million in equity from funds and accounts advised by T. Rowe Price Associates and Oberndorf Enterprises. This follows a November of 2020 equity investment from Thrive Capital and GIC. The company’s valuation has reportedly now reached $5 billion, and the new investment will fuel the company’s investments in growth, innovation and talent.