As summer blazes on in the Big Apple, check out how these companies are heating up the city’s tech scene with new funding and more. This is the Built In NYC weekly refresh.
Ramp got $300M. With its finance automation solution, Ramp provides enterprises with corporate cards and helps them manage their overall spending. The company announced its Series C funding, led by Founders Fund, alongside its first acquisition. With the addition of Buyer, Ramp will be able to add its negotiation-as-a-service tech to its existing platform. It’s investing this raise in product development and hiring new talent. [Built In NYC]
DriveWealth pulled in $450M. The Chatham, New Jersey-based fintech company operates a cloud-based, API-driven brokerage platform that offers tools for trading and investing, and enables users to buy fractions of shares. It’s investing in product innovation and global expansion following its Series B round co-led by Insight Partners and Accel. [Built In NYC]
NYC Tech Quote of the Week
Bravely raised $15M. Its platform offers a career coaching resource for employees of all career levels with a network of 200 coaches to provide professional guidance. The company has seen rapid growth and is planning to carry on that momentum following its Series A. Telescope Partners led the round that allows Bravely to scale its platform and build out its team. [Built In NYC]
Calibrate secured $100M. The startup just closed on a Series B round led by Tiger Global and Founders Fund to invest in its obesity-focused telemedicine platform. The company employs its metabolic reset program and a weight management drug to help users along their weight loss journey. The capital will help Calibrate further its D2C business and launch its enterprise business. [Built In NYC]
Urbint got $60M. With tech built for gas utilities, telecom, oil-and-gas projects and pipelines, Urbint closed on its Series C round led by Energize Ventures. Its software uses AI to predict risks like fires, outages, explosions and worker accidents. The company is investing this funding round in scaling its platform. [Axios]
Covera Health raised $25M. Covera’s analytics platform leverages data science and artificial intelligence to help healthcare institutions reduce medical errors and ultimately improve patient care. The company closed on a Series C round that it plans to put toward enhancing its underlying medical error detection tech and deepening its data integrations as it continues to scale. Insight Partners led the round. [Business Wire]
Knoetic pulled in $18M. Helping companies ensure they’re creating the best possible work environment for their employees, Knoetic launched with its platform that combines people analytics data and social networking. It hosts a network of 1,000 CPOs who are available to provide insights to users to put toward their own business. Its Series A, led by Accel, enables Knoetic to further its tech and expand its team. [Built In NYC]
Paxos’ digital currency is now backed by USD. In today’s growing digital economy, Paxos has been working to meet increased demand for a dollar-based stablecoin. Its Paxos Standard token, “PAX,” is now findable as Pax Dollar under the ticker “USDP.” It’s now a USD regulated token that is redeemable one-to-one for U.S. dollars. [Paxos]
