Etsy Acquiring Depop, Spruce Grabbed $60M, and More NYC Tech News

Last week was a busy time for NYC tech companies and their venture investors. From healthcare to on-demand delivery, these startups are aiming to change the game with their fresh ideas. This is the Built In NYC weekly refresh.

Written by Ashley Bowden
Published on Jun. 07, 2021
Etsy Acquiring Depop, Spruce Grabbed $60M, and More NYC Tech News
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Photo: Spruce / LinkedIn

Last week was a busy time for NYC tech companies and their venture investors. From healthcare to on-demand delivery, these startups are aiming to change the game with their fresh ideas. This is the Built In NYC weekly refresh.

Celonis raised $1BWith its execution management system that integrates with existing operating systems to point out inefficiencies in workflow, Celonis has recorded significant year-over-year growth. It closed on a huge funding round led by Durable Capital Partners LP and T. Rowe Price Associates to bring its valuation to $11 billion. Celonis is investing the round in continued expansion and plans to add new members to its 1,300-person team. [Built In NYC]

Yieldstreet got $100MThe company works to open up more investment opportunities for retail investors that they traditionally would not be able to access, like fine art and real estate. Yieldstreet closed on its Series C raise led by Tarsadia Investments and is planning to grow its user base as more people nowadays have become interested in making investments. It’s also developing new products, planning acquisitions and growing the size of its team. [Built In NYC]

NYC Tech Quote of the Week

“[T]he riders and the pickers are the ones who make things work. By having our riders as full employees, we’re able to make sure that they are taken care of with things like healthcare and the right uniform for the right weather and high-quality bikes. We’re also able to have them be part of the team.” —Zach Dennett, JOKR U.S. co-founder

JOKR expands into NYCOn-demand delivery startup JOKR works to fulfill customer orders for groceries and non-prescription meds within 15 minutes with the help of micro fulfillment centers and electric bikes. It depends on data to tell what people in a given neighborhood would need and when. The company is establishing its headquarters in NYC and plans to offer around 1,500 items with delivery zones in Manhattan, Brooklyn and Queens. [Built In NYC]

Thirty Madison secured $140MThe unicorn healthtech company has seen a lot of growth over the past year, as have other names in the space. Thirty Madison’s platform offers treatment options for specific chronic ailments like men’s hair loss and migraines. Its Series C funding was led by HealthQuest Capital and will enable the company to launch new treatments, pursue partnerships and hire new talent. [Built In NYC]

Etsy is acquiring DepopLooking to cater to a younger user base, online marketplace Etsy announced its acquisition of London-based secondhand fashion platform Depop. Last year, the company pulled in $100 million in venture funding. Now, the acquisition is set to close at $1.63 billion. [Axios]

Spruce pulled in $60MBy offering users digital access to title insurance as well as services for closing, escrow and recording, Spruce aims to reduce the time and cost that goes into closing on a home. Its Series C round was led by Zigg Capital and brings Spruce’s VC total to $110 million. It wants to spend the fresh cash on building out its team, adding more offerings and investing in R&D. [The Real Deal]

Apex and AvePoint are mergingApex is a publicly traded SPAC that’s joining forces with Jersey City-based data management company AvePoint. It’s holding the meeting for stockholders on June 30 to allow those who have owned common stock in Apex upon the company’s record date of June 1 to vote for approval of the business combination. [Business Wire]

monday.com filed for IPOBased in Tel Aviv with a significant NYC presence, this company provides enterprises with a work operating system that enables users to manage their work with the tools and processes they need. Salesforce and Zoom have each agreed to buy $75 million of monday.com’s shares upon its imminent U.S. IPO. It plans to raise 3.7 million shares at a price between $125 and $140, and reach a valuation of $6 billion. [Calcalist]

Bizzabo acquired x.aiThe event success platform is aiming to further personalized event experiences upon the acquisition of AI-based scheduling tool x.ai. Bizzabo is planning to launch several new platform features with the help of x.ai’s tech, including a meeting scheduler, a tool to help presenters engage their customers and personalized smart recommendations. [Globe Newswire]

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