TechNY Daily
December 3, 2021
Edition 645
Keeping Our 50,000 NYC Tech
Industry Readers Informed and Connected
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1. NYC mortgage startup Better.com laid off 900 employees on Wednesday, 10% of its workforce. The affected workers were abruptly summoned into a mass webinar on Wednesday, where billionaire founder and CEO Vishal Garg delivered a short speech informing them that they were being terminated. The company, which has $1 billion in cash on its balance sheet, is planning on going public via a merger with a SPAC. (www.better.com) (The Daily Beast)
2. NYC’s Benitago Group, a startup that acquires Amazon sellers, has raised $325 million in a Series A funding. CoVenture led the round and was joined by HSBC. Benitago has acquired 10 Amazon brands and incubated 10 more in-house. (www.benitago.com) (BusinessWire)
3. NYC’s Updater, an end to end relocation platform, has raised $60 million in a convertible note round. Investors included Second Century Ventures, the strategic investment arm of the National Association of Realtors. A quarter of U.S. household moves are facilitated using one of Updater’s products. (www.updater.com) (BusinessWire)
4. NYC’s Ribbon Health, a healthcare data API platform, has raised $43.5 million in a Series B funding. General Catalyst led the round and was joined by Andreessen Horowitz, NYC’s BoxGroup and Rock Health. The Company’s platform delivers comprehensive data on doctors, insurance plans, cost and quality measures. (www.ribbonhealth.com) (PR Newswire)
5. NYC’s Intelligo, a background check platform, has raised $22 million in a private equity round. Felicitas Global Partners was the sole investor. The company’s platform employs multiple layers of AI and automation to comb through more than 400,000 public data sources to gather relevant information (legal, regulatory, financial, online media) on individuals and companies. (www.intelligo.com) (VentureBeat)
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6. NYC’s Verbit, an AI-powered transcription and captioning platform, has raised $250 million in a Series E funding at a $2 billion valuation. Third Point Ventures led the round and was joined by Sapphire Ventures, More Capital, Disruptive AI, Vertex Growth, 40North, Samsung Next and TCP. Verbit’s platform uses machine learning and natural language processing to transcribe audio supported by a team of over 33,000 human freelancers in over 120 countries who then review and edit the material. (www.verbit.ai) (TechCrunch)
7. NYC’s nTopology, an engineering design platform, has raised $65 million in a Series D funding. NYC’s Tiger Global led the round and was joined by Oldslip Group, Root Ventures, Canaan Partners, Haystack and NYC’s Insight Partners. nTopology platform, which is focused on 3D printing and additive manufacturing, is used by companies such as Ford, Lockheed Martin and Honeywell. (www.ntopology,com) (TechCrunch)
8. NYC’s Comet, a machine learning development platform, has raised $50 million in a Series B funding. OpenView led the round and was joined by Scale Venture Partners, Trilogy Equity Partners and NYC’s Two Sigma Ventures. Comet’s platform accelerates machine learning development and is used by companies such as Ancestry, Etsy, Uber and Zappos. (www.comet.ml) (BusinessWire)
9. NYC’s YieldStreet, a crowdfunded alternative investment platform, has raised $50 million in a follow-on investment round. Mayfair Equity Partners was the investor. Yieldstreet’s 325,000 users have funded $2.5 billion of deals on its platform. (www.yieldstreet.com) (BusinessWire)
10. NYC’s Helaina, which is developing a new kind of infant milk, has raised $20 million in a Series A funding. The round was co-led by Spark Capital and Siam Capital, with participation from Plum Alley Investments and NYC’s Primary Venture Partners. Helaina uses precision fermentation to recreate immune-equivalent proteins previously only available in breast milk. (www.myhelaina.com) (Food Business News)
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Platform Engineer
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Manager, Community
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Hyperscience is the automation company that enables data to flow within and between the world’s leading firms in financial services, insurance, healthcare and government markets. Founded in 2014 and headquartered in New York City with offices in Sofia, Bulgaria and London, UK, we’ve raised more than $50 million raised to date and are growing quickly. We welcome anyone who believes in big ideas and demonstrates a willingness to learn, and we’re looking for exceptional talent to join our team and make a difference in our organization and for our customers.
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December 9
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