TechNY Daily
October 7, 2021
Our 625th Edition
TechNY15 Stock Index: 1,622.55 (+34.76) (+2.2%)
Keeping Our 50,000 NYC Tech Industry Readers Informed
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1. NYC’s Rent the Runway has filed for an Initial Public Offering. Last year, the company’s subscriber base dropped to 95,245, from 147,866 in 2019, and revenue fell to $158 million from $257 million, but has recently seen an uptick in demand. Rent the Runway plans to list on the Nasdaq under the ticker symbol “RENT.” (www.renttherunway.com) (CNBC)
2. NYC’s TrialSpark, a tech-driven pharma startup, has raised $156 million in a Series C funding. Investors included Sequoia Capital, NYC’s Thrive Capital, Casdin Capital, Dragoneer, Section 32, John Doerr, Sam Altman, Spark Capital, Felicis Ventures, Sound Ventures and Arrowmark. TrialSpark’s platform integrates the front-end of clinical trials (recruitment, eConsent, eSource) with the back-end (data management, monitoring, and biostats). (www.trialspark.com) (PR Newswire)
3. NYC’s Alloy, a data-driven identify decisioning platform for banks and fintech companies, has raised $100 million in a Series C funding. Lightspeed Venture Partners led the round at a $1.35 billion valuation, and was joined by Canapi Ventures, Bessemer Venture Partners, Avid Ventures and Felicis Ventures. Alloy connects to 120 identity providers, and then uses that data to help financial institutions avoid fraud during initial customer onboarding (www.alloy.com) (TechCrunch)
4. NYC’s Stellar Health, a value-based healthcare platform, has raised $60 million in a Series B funding. General Atlantic led the round and was joined by Steven Cohen’s Point72 Ventures and NYC’s Primary Venture Partners. The company’s platform actively alerts patients and providers of preventative screenings and other care opportunities. (www.stellar.health) (BusinessWire)
5. NYCs PixieBrix, a no-code tool for modifying website interfaces, has raised $3.5 million in a seed funding. New Enterprise Associates (NEA) led the round and was joined by angel investors including Tableau co-founder Chris Stolte and DataRobot CEO Dan Wright. PixieBrix works as a Chrome extension that comes with a set of “Bricks”, building blocks that can be combined to create custom integrations and workflows. (www.pixiebrix.com) (MartechSeries)
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6. NYC’s Andela, a startup that trains software developers in Africa and then connects them with global companies, has raised $200 million in a Series E financing. SoftBank led the round at $1.5 billion valuation, and was joined by Whale Rock, Generation Investment Management, Chan Zuckerberg Initiative and Spark Capital. US companies that are working with Andela graduates include Cloudflare, GitHub and ViacomCBS. (www.andela.com) (TechCrunch)
7. NYC’s Multiverse, a tech focused apprenticeship startup, has raised $130 million in a Series C funding. D1 Capital Partners and BOND led the round at a $875 million valuation. The company has placed over 5,000 tech, leadership and digital apprentices at companies such as Facebook, Morgan Stanley, Google and ClassPass. Multiverse is one of the many UK startups in NYC. (www.multiverse.io) (PR Newswire)
8. NYC’s Empathy, a platform designed to help families manage bereavement, has raised $30 million in a Series A funding. Entrée Capital led the round and was joined by General Catalyst and Aleph. Empathy’s software personal assistant streamlines end-of-life bureaucracy and automates processes involved in the administration of an estate. (www.empathy.com) (TechCrunch)
9. NYC’s Ladders, an online career marketplace, has sold its Ladders News Daily Newsletter to Industry Dive, a business-to-business newsletter platform. The financial terms of the deal were not disclosed. Ladders News Daily Newsletter has a 2.2 million person subscriber base. (www.theladders.com) (www.industrydive.com) (Press Release)
10. The New York City Council has passed several bills that seek to improve conditions for food deliverers for companies like Grubhub, DoorDash and Uber Eats. The first of its kind legislation provides for set minimum pay, rights regarding tips and information about deliveries before drivers accept them. (CNBC)
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