NYC Startup Funding, Month-end Wrap-up: May 2018

 

May saw a flurry of large rounds of funding closed by NYC-based startups just before month-end. Below are five of the largest rounds of funding closed by NYC-based startups in May 2018.

 

CTRL-Labs – $28M
Date: 5/29/18
Round: Series A
Industry: Computing, Neuroscience, AI
Investors: 9 –  Vulcan Capital, Spark Capital, Matrix Partners, Lux Capital, Fuel Capital, Founders Fund, Breyer Capital, Amazon Alexa Fund
Company: Founded in 2017, CTRL-labs aims to create a brain-machine interface. According to the company website, CTRL-labs work aims to address ‘challenges at the intersection of computational neuroscience, statistics, machine learning, biophysics, hardware, and human-computer interaction’. To date, CTRL-labs has closed $39 million worth of funding after two rounds.

 

CipherHealth – $37.5M
Date: 5/14/18
Round: Corporate Round
Industry: Analytics, Messaging, Software
Investors: 1 –  JMI Equity
Company: Founded in 2009, CipherHealth implements healthcare solutions by utilizing clinical data to increase efficiency across the healthcare space. By developing and implementing SaaS-based solutions, CipherHealth streamlines the healthcare process for both patients and healthcare providers alike. To date, CipherHealth has raised more than $37.5 million from four rounds of undisclosed funding.

 

Hello Alfred – $40M
Date: 5/31/18
Round: Series B
Industry: Service
Investors: 6 – Spark Capital, Solon Mack Capital, New Enterprise Associates, Moderne Ventures, Invesco, DivcoWest
Company: Founded in 2014, Hello Alfred provides assistance in running errands to people with busy schedules. For everything from picking up dry cleaning, to do your shopping for you, Hello Alfred aims to free up time for those who need it. To date, Hello Alfred has raised over $52.5 million from five rounds of funding.

 

Trilogy Education Services – $50M
Date: 5/31/18
Round: Series B
Industry: Education, Training
Investors: 3 – Macquarie Group, Highland Capital Partners, Exceed Capital Partners
Company: Founded in 2015, Trilogy Education Services trains working professionals for careers in high tech industries. ‘From full-stack development to data analytics, Trilogy’s skills-based training programs bridge regional hiring gaps in more than 35 markets across North America.’ To date, Trilogy Education Services has raised over $80 million from two rounds of funding.

 

Paxos – $65M
Date: 5/31/18
Round: Series B
Industry: Finance, FinTech
Investors: 3 – RRE Ventures, Liberty City Ventures, Jay Jordan
Company: Founded in 2013, Paxos is a fintech company utilizing blockchain technology. By implementing its own blockchain settlement platform knowns as Bankchain(TM), Paxos is able to deliver ‘instantaneous settlement and greater automation, offering market participants reduced counterparty risk, lower capital requirements and increased operational efficiencies.’ To date, Paxos has raised over $93.3 million after three rounds of funding.

 

 

Leave a Reply

Your email address will not be published. Required fields are marked *