New York tech raised $25B this year. These are the five biggest rounds.

by Katie Fustich
January 3, 2019

Whether you loved it or loathed it, 2018 is at its end. In terms of VC funding, New York certainly earned its reputation as one of the most blossoming tech scenes in the world. In 2018, per Crunchbase reports, more than 1,000 different companies raised over $25 billion this year. Industries like ecommerce, wellness, and data continued to flourish, and job growth continued.

At the top of the pile, five tech companies managed to out-raise the competition with a handful of mega-fundings. Their names are sure to be familiar — but it’s worth revisiting, as they’ll surely be setting the tone for tech in 2019.

 

Dataminr
image via facebook

5. Dataminr, $392M June 29

What they do: If there’s something big happening out there in the world, chances are that Dataminr knows about it before you do. This leading information-discovery company keeps clients in a range of fields — from medicine to tech to education — in the know with the latest in real-time alerts, gathered from public information. 

The funding: Dataminr’s mid-year Series E funding saw the company’s valuation soar to $1.6 billion. Investors included such big names as the Tactical Value Fund, Valor Equity Partners, MSD Capital, Declaration Partners, Moore Strategic Ventures, Vulcan Capital, the Pritzker Family Business Interests, Fidelity Investments, Institutional Venture Partners and Goldman Sachs.

 

Compass
image via facebook

4. Compass, $400M, September 27

What they do: Real estate platform Compass works to help people find their dream home in a range of cities across the United States. Compass operates end-to-end, starting with the housing search and ending with the mortgage paperwork.

The funding: Compass waited less than a year after its massive, $450 million Series E in December of 2017. This past September’s Series F round saw the company skyrocket to a valuation of $4.4 billion. Investors from the SoftBank Vision Fund and Qatar Investment Authority led the round.

 

Letgo
image via facebook

3. Letgo, $500M, August 8

What they do: Letgo’s desktop and mobile marketplaces have become go-to destinations for those looking to buy, sell and trade local secondhand items ranging from clothing to furniture to vehicles and more.

The funding: This year, Letgo officially arrived as the premiere, secondhand mobile marketplace. It’s $500 million Series E launched the company to a $1.5 billion valuation. Naspers, a South Africa-based media conglomerate, led the funding.

 

Peloton
image via facebook

2. Peloton, $550M, August 2

What they do: Peloton builds both software and hardware that innovates the world of exercise. Their signature stationary bikes, complete with a host of classes, were joined by a similar treadmill model this year, which seems to have lived up to the hype.

The funding: It was a good summer for Peloton, which raised a $550 million Series F round this past August. TCV led the round with Tiger Global, True Ventures, Wellington Management, Fidelity, NBCUniversal, Kleiner Perkins, Felix Capital and Winslow Capital also participating.The company plans to use the funds to continue its retail growth strategy.

 

WeWork
image via facebook

1. WeWork, $3B, November 13

What they do: WeWork is the premiere chain of co-working spaces around the world. With thousands of international locations, WeWork is leading what it means to be a co-working space. This year, the brand innovated new concepts like wellness centers and the WeWork Labs incubator.

The funding: One may have thought the year was ready to taper off quietly when, just before the holiday season, WeWork announced a gargantuan private equity round. SoftBank spearheaded the effort, which will be used to continue WeWork’s international growth in the coming year.

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