#NYCtech Week in Review: 5/30/21 – 6/6/21

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Thirty Madison

$140M – Series C

Thirty Madison, a digital health platform for those with chronic conditions like hair loss, migraines, and GI issues, has raised $140M in Series C funding from investors that include Greycroft, Polaris Partners, Northzone, Mousse Partners, Johnson & Johnson Innovation, HealthQuest Capital, and Bracket Capital. Founded by Demetri Karagas and Steven Gutentag in 2017, Thirty Madison has now raised a total of $210M in reported equity funding.

Yieldstreet

$100M – Series C

Yieldstreet, the alternative investment platform, has raised $100M in Series C funding from investors that include Greycroft, Gaingels, Edison Partners, Greenspring Associates, Raine Ventures, Soros Fund Management, Top Tier Capital Partners, Expansion Capital, Tarsadia Investments, Alex. Brown & Sons, and Kingfisher Investment Advisors. Founded by Dennis Shields, Michael Weisz, and Milind Mehere in 2015, Yieldstreet has now raised a total of $178.5M in reported equity funding. AlleyWatch broke the news of this round in an exclusive interview covering the funding and much more – Yieldstreet Raises Another $100M for its Platform that Democratizes Access to Alternative Investments

Stack Overflow, the leading knowledge-sharing community for developers and technologists, is being acquired by Prosus, an internet holding company and investment firm, in a transaction that values the company at $1.8BM. – Stack Overflow to be Acquired by Prosus for $1.8B

Stablix

$63M – Series A

Stablix, a biotech startup focused on protein stabilization, has raised $63M in Series A funding from investors that include Versant Ventures, Cormorant Asset Management, Euclidean Capital, and NEA. Stablix was founded by Brian Bowman, Carlo Rizzuto, Henry Colecraft, Kevin Sprott, and Scott Kanner.

Spruce Holdings

$60M – funding according to a recent SEC filing

Spruce Holdings, the digital platform for title and closings for real estate transactions, has raised $60M in funding according to a recent SEC filing. The filing indicates that there were seven investors in this round. Investors in previous rounds include Bessemer Venture Partners, Omidyar Network, Scale Venture Partners, Collaborative Fund, MetaProp, Notation Capital, Third Prime, Zigg Capital, and Gramercy Ventures. Founded by Andrew Weisgall and Patrick Burns in 2016, Spruce Holdings has now raised a total of $110.1M in reported equity funding.

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Everything you need to need to know about the largest NYC startup funding rounds of May 2021; broken down by industry, stage, investors, and more – The 13 Largest NYC Tech Startup Funding Rounds of May 2021

Hungryroot

$40M – Series C

Hungryroot, the AI-powered grocery service, has raised $40M in Series C funding from investors that include led by L Catterton. Founded by Benjamin McKean, Franklin Becker, and Gregory Struck in 2015, Hungryroot has now raised a total of $75.4M in reported equity funding.

New Stand

$40M – Series B

New Stand, a modern take on the newsstands that provides smart vending in convenient locations for basic items, has raised $40M in Series B funding from investors that include Maywic Select Investments, Fantail Ventures, Brookfield Property Partners, and Raga Partners. Founded by Andrew Deitchman and David Carson in 2015, New Stand has now raised a total of $56M in reported equity funding.

Nayya

$37M – Series B

Nayya, the benefits management platform, has raised $37M in Series B funding from investors that include Felicis Ventures, Social Leverage, SVB Capital, Bow Capital, ICONIQ Growth, SemperVirens Venture Capital, CNO Financial Group, Unum Group, and Guardian Strategic Ventures. Founded by Akash Magoon and Sina Chehrazi in 2019, Nayya has now raised a total of $50.7M in reported equity funding. AlleyWatch published an exclusive interview with Chehrazi covering this round and much more – Nayya Raises $37M For its Healthcare Benefits Management Platform that Helps Employees Choose the Right Insurance and Manage Claims

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Aggregate statistics for all NYC funding deals by stage of funding (Early, Series A, Series B, and Late) including mention of notable rounds for May 2021. – The AlleyWatch May 2021 New York Venture Capital Funding Report

Jeeves

$26M – Series A

Jeeves, an all-in-one global expense management platform for startups, has raised $26M in Series A funding from investors that include led by Andreessen Horowitz. Founded by Dileep Thazhmon and Sherwin Gandhi in 2019, Jeeves has now raised a total of $31M in reported equity funding.

Pinwheel

$20M – Series A

Pinwheel, the payroll API for digital banks, has raised $20M in Series A funding from investors that include Coatue, Primary Venture Partners, SemperVirens, First Round Capital, Upfront Ventures. Founded by Anish Basu, Curtis Lee, and Kurt Lin in 2018, Pinwheel has now raised a total of $27M in reported equity funding.

System

$12.25M – funding according to a recent SEC filing

System, a platform that employs a new framework for organizing data and knowledge into systems, has raised $12.25M in funding according to a recent SEC filing. The filing indicates that there were eighteen investors in this round and lists Josh Wolfe of Lux Capital and Asad Khaliq of Acrew Capital as Directors. System was founded by Adam Bly in 2017.

The latest news from venture capital firms in NYC for the second half of May 2021 featuring must-know news for Lerer Hippeau, Cadenza Ventures, Neuberger Berman, and much more. – The NYC Venture Capital Firm News Digest: 6/1/2021

Norbert Health

$5M – Seed

Norbert Health, the makers of contactless health monitoring solutions, has raised $5M in Seed funding from investors that include Serena, C4 Ventures, HCVC, Exor Seeds, and LDV Capital. Norbert Health was founded by Alexandre Winter and Patrick Collins in 2019. AlleyWatch will publish an exclusive interview with Winter covering this round and much more this upcoming week.

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Psngr1

$5M – funding according to a recent SEC filing

Psngr1, a corporate travel planning and management platform, has raised $5M in funding according to a recent SEC filing. The filing indicates that the round comes from a sole investor. Founded by Chris Moss in 2016, Psngr1 has now raised a total of $5.1M in reported equity funding.

Mosaic

$4M – Seed

Mosaic, the AI-powered resource management platform for efficient staffing in projects, has raised $4M in Seed funding from investors that include ff Venture Capital, Entrepreneurs Roundtable Accelerator, Ocean Azul Partners, Las Olas Venture Capital, and Tensility Venture Partners. Mosaic was founded by John Meyer in 2018.

Paloma

$4M – Seed

Paloma, the platform bringing commerce functionality to messaging platforms, has raised $4M in Seed funding from investors that include led by Laconia Capital Group. Founded by Kelsey Hunter, Zachary Podbela in 2017, Paloma has now raised a total of $5M in reported equity funding.

Birb

$200K – funding according to a recent SEC filing

Birb, an e-commerce referral marketing platform, has raised $200K in funding according to a recent SEC filing. The filing indicates that the total offering is for $2M, the transaction is structured as a convertible note, and that the round comes from a sole investor. Birb was founded by Steven Liss and Michael Bishop in 2018.

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