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August saw several gigantic rounds of funding closed by NYC-based startups. Below are five of the largest rounds of funding closed by NYC-based startups throughout August 2018.
Latch – $70M
Round: Series B
Industry: Home Security, Tech
Investors: 8 – Third Prime, RRE Ventures, Primary Venture Partners, Lux Capital, Corigin, Camber Creek, Brookfield Asset Management, Balyasny Asset Management
Company: Founded in 2013, Latch allows users to lock and unlock their door with their smartphone. Designed for apartment and office buildings, the Latch app is convenient for both building owners and tenants and can even allow guests access by sending an access code. To date, Latch has raised over $96 million after five rounds of funding.
Boxed – $111M
Round: Series D
Investors: 5 – Nomura Securities, Gabriel Naouri, CDIB Capital, Alpha Square Group, AEON
Company: Founded in 2013, Boxed allows customers to easily shop in bulk online. Boxed’s talented team has beautifully designed a customer-friendly mobile app which makes seamlessly purchasing wholesale easy and efficient. To date, Boxed has raised over $243.6 million after 5 rounds of funding.
Oscar Health – $375M
Round: Corporate Round
Industry: Healthcare, Information Technology
Investors: 1 – Alphabet
Company: Founded in 2013, Oscar Health is a medical insurance company aimed at easing the process for its patients. The company offers individual, couple, and family plans, and is currently available in New York, New Jersey, California, and Texas. To date, Oscar Health has raised over $1.3 billion after eight rounds of funding.
Letgo – $500M
Round: Series E
Industry: E-commerce, Online Shopping, Internet Marketplace
Investors: 1 – Naspers
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 over $975 million after five rounds of funding.
Peloton – $550M
Round: Series F
Industry: Fitness, Cycling, Video Content
Investors: 10 – Winslow Capital, Wellington Management, True Ventures, Tiger Global Management, TCV, NBCUniversal, Kleiner Perkins, Fidelity Management and Research Company, Felix Capital, Balyasny Asset Mgt
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 $994.7 million after eight rounds of funding.