Another week, another batch of fresh funding rounds (and more) for some of NYC’s hottest startups. Keep reading to find out what’s next for these local standouts. This is the Built In NYC weekly refresh.
Amplify scored $215M. For the last 20 years, Amplify has been a pioneer in the edtech industry — a space that has become especially important thanks to the pandemic. Reaching more than 10 million K-12 students nationwide, the company provides tech-based educational programs focused on English, math and science, providing teachers with supplemental materials to strengthen their curriculum. This fresh funding will help Amplify continue to develop its platform, as well as grow its team. [Built In NYC]
Fabric pulled in $200M. In a nutshell, Fabric provides software and robotics that can turn anywhere into an automated micro-fulfillment center. The startup got a lot of initial interest at the start of the pandemic amid the rush to fulfill online grocery orders, and does not appear to be slowing down nearly two years later. Now, it has its sights more squarely on helping e-commerce retailers take on the all-powerful Amazon, and counts major players like Instacart and Walmart among its customers. This latest funding round values Fabric at more than $1 billion, making it one of NYC newest unicorns. [TechCrunch]
Extend raised $40M. Over the last few years, there’s been an onslaught of neobanks and other fintech startups aiming to disrupt the status quo and dethrone legacy banks. However, with fresh investments from Point72 Ventures, Wells Fargo and others, Extend aims to help giants like Mastercard and AmEx get ahead by providing them with the digital tools they need to better compete with this horde of newcomers. So far the startup has more than 2,000 business customers using its platform, and that number is reportedly growing 30 percent month over month. [Built In NYC]
NYC Tech Quote of the Week
Augury hit unicorn valuation. By analyzing the vibrations and noises industrial machines make, Augury’s tech is able to detect malfunctions before they become a serious problem, helping major companies like Colgate and Hershey’s better maintain their production and distribution facilities. The startup’s growth is coming at an interesting time for the wider world of industrial tech, mainly because of the Covid-19 pandemic and all of the supply chain hurdles that have come with it. Now, with $180 million of fresh funding in its coffers, Augury can continue its international expansion. [Built In NYC]
Bizzabo is launching a new suite of video production tools. After acquiring Israeli virtual events platform TeeVid, Bizzabo — a rising star in the hybrid corporate events space — is launching its own suite of video editing tools to allow event planners to create a more immersive experience. Among other things, the suite will allow for live interactive events, breakout sessions and the creation of promotional videos. This is Bizzabo’s third acquisition in just five months, signifying that the virtual and hybrid events industry isn’t going anywhere anytime soon. [Bizzabo]
Click Therapeutics got $52M. This fresh funding will allow the startup to accelerate the development and commercialization of its lengthy pipeline of tech-based prescription treatments, which aim to treat everything from nicotine addiction to overactive bladder syndrome. The Series B was co-led by H.I.G BioHealth Partners and Accelmed Partners II, and will also be used to help Click grow its team. [Built In NYC]
Selfbook raised $25M. Originally a consumer travel app, Selfbook pivoted to a hotel payment software in September 2020, and now provides a way for hotels to accept “one-click” payments directly on their websites. In the last six months alone, the startup says its usage has grown 10x. This latest funding round was led by VC powerhouse Tiger Global Management, and will be used to expand partnerships and grow its team. [TechCrunch]
