2017 was an absolutely spectacular year for NYC-based startup funding. According to one report, over $6.6 billion in startup funding was raised in NYC in 2017 alone. The five rounds of funding listed below represent over $1.3 billion in funding respectively. Here, Ignitia recaps five of the largest rounds of funding closed by NYC-based startups over 2017.
Casper – $170M
Round: Series C
Industry: Mattress, Lifestyle, Retail
Investors: 14 – Andre Iguodala, Curtis “50 Cent” Jackson, Institutional Venture Partners, Irving Investors, Kevin Spacey, Kyrie Irving, Lerer Hippeau Ventures, Melo7 Tech Partners LLC, New Enterprise Associates, Northwest Venture Partners, Shaun White, Target, Tresalia Capital, Blisce
Company: Founded in 2013, Casper is a mattress and sleep product manufacturer shipping directly to its customers. The company’s model allows customers to test out their mattress risk free for 100 nights. All mattresses shipped to customers in a package roughly the size of a mini-fridge and the concept has been wildly successful. To date, Casper has raised over $239 million worth of funding.
letgo – $175M
Round: Series C
Industry: E-commerce, Online Shopping, Internet Marketplace
Investors: 8 – 14W, Accel Partners, Eight Roads Ventures, FJ Labs, Insight Venture Partners, Mangrove Capital Partners, Naspers, New Enterprise Associates
Company: Founded in 2015, letgo is a free app that allows users to buy and sell products online. Using advanced AI technology, letgo allows users to take pictures of their products, then automatically identifies, categorizes, and lists them. According to the website, in their first two years in business, letgo’s app has been downloaded over 75 million times, and over 200 million items have been listed on the site. According to letgo, this makes them, ‘the largest and fastest growing app to buy and sell locally.’ To date, letgo has raised $375 million worth of funding.
Industry: Blogging Platform, Internet, Software, and Web Design
Investors: 1 – General Atlantic
Company: Founded in 2003, Squarespace is a software as a service-based system that provides users with a platform to create and host websites, blogs, and online stores. Since launching, Squarespace has seen millions of users create and maintain their sites on the platform. To date, Squarespace has raised over $278 million worth of funding and now has a reported $1.7 billion valuation.
Peloton – $325M
Round: Series E
Industry: Fitness, Cycling, Video Content
Investors: 8 – Balyasny Asset Management, Fidelity Investments, GGV Capital, Kleiner Perkins Caufield & Byers, NBC Universal, QuestMark Partners, True Ventures, Wellington Management
Company: Founded in 2012, Peloton is a new high tech fitness concept that allows users live streaming access to elite fitness classes and instructors based in the NYC area. One of the standout stars of fitness from Silicon Alley, Peloton uses a specifically designed cycling hardware that merges with their software and content to revolutionize the at-home fitness space. To date, Peloton has raised over $444 million worth of funding.
Compass – $450M
Round: Series E
Industry: Real Estate, Mobile
Investors: 1 – SoftBank
Company: Founded in 2012, Compass is a mobile app that pairs prospective real estate buyers and sellers. With 30 offices in 9 regions, Compass caters to the luxury, high-end market. By successfully disrupting a portion of the $29 trillion U.S. housing market, it’s no wonder Compass has found the top of this list. To date, Compass has closed $808 million worth of funding.
Here’s to hoping 2018 is even better for startup funding!