Rho Gained $75M, YipitData Raised up to $475M, and More NYC Tech News

Here’s what you may have missed in the world of NYC tech.
Written by Delilah Alvarado
December 13, 2021Updated: December 13, 2021
Photo: YipItData / Facebook
Photo: YipItData / Facebook

The New York tech scene did not lack in the big news this past week. Many partnerships, funding rounds and hiring announcements were made. This is the Built In NYC weekly refresh.

Rho gained $75M. Rho is a corporate spend and cash management startup. The company raised $75 million in fresh funding that will be used to create “new products and features,” according to the company. Rho is also hiring, with more than a dozen open tech positions available now. [Built In NYC]

Carlyle Group Inc. invested in YipitData. YipitData gained up to $475 million in funding from Carlyle Group Inc., bringing the company’s valuation to over $1 billion. New tech unicorn YipitData is a firm that gathers and analyzes information and data for corporate clients and Wall Street. [Bloomberg] 

Claroty raised $400M. The security company that provides security for “cyber-physical systems” announced it raised a $400 million Series E round and acquired Medigate. The funding will go toward the acquisition, although financial terms of the deal have not been disclosed. Claroty is currently hiring for remote roles and several based in NYC. [Built In NYC]

ButterflyMX got $50M. The company closed a $50 Series D funding round which will be used to release what ButterflyMX calls the real estate industry’s first “unified property access solution.” ButterflyMX is a real estate security tech startup that aims to provide a more cohesive security system without all the extra hardware and software. [Built In NYC]

NYC TECH QUOTE OF THE WEEK

“As the largest and most reliable logistics network in the U.S., DoorDash is positioned to enter this emerging industry and provide consistent quality, speed and convenience that customers know and trust. Many New Yorkers already turn to DoorDash for their next meal or essentials purchases, which puts us in an exciting place to deliver on the promise of ultra-fast delivery.” — Christopher Payne, president of DoorDash

DoorDash now offering “ultra-fast” delivery. DoorDash is following the trend of fast delivery by now offering “ultra-fast” options for groceries and household items. The pilot service is being offered in Chelsea, with more partners and locations to come soon. [Built In NYC]

Lyft CFO joined OpenSea. Lyft’s former CFO Brian Roberts departed the company to take the same role at the NFT marketplace OpenSea. The recent move is one of many showing that executives and engineers are migrating into the world of web3 crypto startups. [TechCrunch]

Marc Lore announced plans for his latest business. Lore has a new public venture that will be part food truck and part ghost kitchen called Wonder Group. Lore partnered with Scott Hilton — who served as chief revenue officer of Walmart’s U.S. digital arm — to form Envoy, which is similar to Grubhub. The duo plan to expand services to Westchester County, New York and parts of New Jersey, NYC and Connecticut next year. [CNBC]

Credible acquired Young Alfred. Credible is a digital loan lending platform, and NYC-based Young Alfred is a digital insurance marketplace. The acquisition will allow customers to experience a “one-stop-shop” for insurance and lending purposes and needs. [Yahoo]

Hyperscience acquired Boxplot. Hyperscience’s platform enables organizations to take unstructured data in various formats that can be understood to speed up processing times. Boxplot, a startup based out of Berlin, provides a graph data modeling tool. This is Hyperscience’s first acquisition. [Hyperscience]

Vimeo added new hires. The all-in-one video software platform expanded its leadership team with Eric Cox appointed as chief revenue officer and Crystal Boysen as chief people officer. Vimeo added other executives as well, including Michael Schiff as head of business operations and Erick Cruz as head of customer success. The company is also expanding its global footprint. [Vimeo]

NYC startup guides

LOCAL GUIDE
Best Companies to Work for in NYC
LOCAL GUIDE
Coolest Tech Offices in NYC
LOCAL GUIDE
Best Benefits at NYC Tech Companies
LOCAL GUIDE
Women in NYC Tech