The artificial intelligence space is seeing rapid growth in the Big Apple. Several companies in the industry announced new funding rounds last month. Other areas including fintech and biotech pulled in sizable rounds, and the largest raise belongs to a consumer rewards platform. Find out more about these growing tech innovators.
Top NYC Tech Funding Rounds, January 2024
- Bilt Rewards
- OnCusp Therapeutics
- DailyPay
- ElevenLabs
- Vicarius
#4. $30 million, January 17
Bright Pixel led the Series B funding round for Vicarius, an AI company that built an autonomous vulnerability remediation platform that helps businesses reduce cyber risk. The company will invest in expanding internationally and developing new AI capabilities. This capital raise brings Vicarius’ total venture funding to more than $56 million.
#3. $80 million, January 22
ElevenLabs operates a generative audio AI platform that can transform text into speech using artificial voices. The company announced a Series B funding round that brought its valuation to $1 billion. With the capital, ElevenLabs plans to advance research, expand infrastructure, develop new products and enhance safety measures.
#2. (tied) $100 million, January 18
DailyPay offers a fintech solution that equips companies with insight-driven pay strategies to better activate their workforce. The company secured $260 million in a raise that combined a revolving credit facility capacity and new term loan funding. Its $100 million in term loan funding will help DailyPay fuel continued product innovation and accelerate growth.
#2. (tied) $100 million, January 4
Biotech company OnCusp works to accelerate the advancement of pre-clinical oncology assets into clinically validated treatments. The company secured an oversubscribed Series A funding round that will go toward expanding its portfolio and team. Novo Holdings, OrbiMed and F-Prime Capital co-led the round.
#1. $200 million, January 24
Loyalty platform Bilt Rewards pulled in $200 million in an equity raise led by General Catalyst, bringing its valuation to $3.1 billion. The company allows consumers to earn rewards for paying their rent and spending money on local services like dining and rideshare. Bilt Rewards’ fresh funding will help the company expand its reach and offer rewards for mortgage payments.
