December rounded out a strong 2017 for startup funding in NYC. The largest round was a massive $450 million fund closed by mobile real estate platform, Compass. Below, Ignitia recaps five of the largest rounds of funding closed by NYC based startups in December 2017.
Round: Series B
Industry: Food and Beverage Delivery
Investors: 6 – Bobby Flay, Haylie Duff, Lightspeed Venture Partners, M13, Shaun White, VMG Partners
Round: Series C
Industry: Renters and Home Owners Insurance
Investors: 5 – GV, General Catalyst, Sequoia Capital, SoftBank, Tusk Ventures
Company: Founded in 2015, Lemonade is a renter and home owner insurance company targeted at the millenial generation. Providing renter’s insurance for $5 a month, and home owners insurance for $25, Lemonade utilizes AI to streamline the insurance process. As a result, most claims are paid within a matter of minutes, and at the end of the year, any unused claim funds are donated to the charity of the customer’s choice. To date, Lemonade has raised $180 million in funding.
Moda Operandi – $165M
Round: Series F
Investors: 2 – Adrian Cheng, Apax Digital
Squarespace – $200M
Industry: Blogging Platform, Content, 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.
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. To date, Compass has closed $808 million of funding.