TechNY Daily
By: Small Planet
Tags: Technology News, Venture Capital, Startup, Funding, Technews

TechNY Daily

Keeping the NYC Tech Industry Informed and Connected

1. NYC’s Kustomer, a CRM platform, is being acquired by Facebook. The purchase price is reportedly $1 billion. Kustomer has raised a total of $174 million from investors including Coatue, NYC’s Tiger Global Management, Redpoint, Canaan Partners, Social Leverage, Battery Ventures and Cisco Investments. (www.kustomer.com) (New York Times)

2. NYC’s Loadsmart, a digital platform for freight shippers, has raised $90 million in a Series C funding. BlackRock and Chromo Invest co-led the round and were joined by TFI International, Maersk, Perry Capital and Bramalea Partners. The company’s platform uses AI to analyze hundreds of data sources to automate truckload booking with a goal of maximizing efficiency. (www.loadsmart.com) (TechCrunch)

3. NYC’s Obligo, a platform which enables tenants to rent apartments without a security deposit, has raised $15.5 million in a Series A round. Investors included 83North, 10D, Entrée Capital, and Viola Credit. Obligo’s platform, which was developed in collaboration with Silicon Valley Bank’s New York City FinTech team, is designed to replace the customary residential security deposit with a credit-based model. (www.myobligo.com) (Crowdfund Insider)

4. NYC’s Reposite, a software developer for the travel industry, has raised $2.5 million in a funding round. Liberty City Ventures led the round. The company’s platform provides tour operators and event planners with a central repository of travel vendor information and is working with large organizations such as Madison Square Garden, MoMA, Guggenheim Museum and American Museum of Natural History. (www.reposite.io) (Phocuswire)

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5. NYC’s Spring Health, a provider of personalized mental health solutions for employees, has raised $76 million in a Series B funding. NYC’s Tiger Global led the round and was joined by GingerBread Capital, Operator Partners, Northzone, Rethink Impact, William K. Warren Foundation, Work-Bench, SemperVirens, Able Partners and True Capital. The company’s platform matches each employee to the most effective care for them. (www.springhealth.com) (PR Newswire)

6. NYC’s Verbit, an AI-powered transcription and captioning platform, has raised $60 million in a Series C round. Sapphire Ventures led the round with participation from Vertex Ventures, Stripes, HV Ventures, ClalTech and Vertex Growth. Verbit’s platform uses machine learning and natural language processing to transcribe audio supported by a team of over 22,000 human freelancers in over 120 countries who then edit and review the material. (www.verbit.ai) VentureBeat)

7. Duolingo, an NYC and Pittsburgh-based language learning app, has raised $35 million in a Series H funding. The financing, made at a $2.4 billion valuation, was provided by Durable Capital and General Atlantic. Since 2019, Duolingo has ranked as the highest-grossing education app. (www.duolingo.com) (TechCrunch)

8. Jersey City’s Apprentice.io, an intelligent software platform for life sciences, has raised $24 million in a Series B funding. Insight Partners led the round and was joined by Pacific Western Bank, Pritzker Group, GFR Fund and The Venture Reality Fund. The company’s platform performs tasks such as accessing complex procedures, visualizing 3D demonstrations, and intelligently capturing or tracking data using computer vision. (www.apprentice.io) (AIThority)

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