TechNY Daily
Breaking NYC Tech Industry News
June 5, 2019
Edition 353
 

BREAKING NEWS: NYC's Peloton has confidentially filed an IPO with the Securities and Exchange Commission. Reportedly, the company has yet to decide on the number of shares to be sold or the price per share. Peloton, which sold its first cycle in 2014, has raised a total of $1 billion with its last round valuing the company at $4 billion. (www.onepeloton.com) (CNBC)

1. NYC’s Dashlane, a password management platform, has raised $110 million in a Series D funding. Sequoia led the round and was joined by Rho Ventures, FirstMark Capital and Bessemer Venture Partners. Dashlane’s password manager is used by over 11 million people in 180 countries. (www.dashlane.com) (Crunchbase News)

2. Brooklyn’s Revel, an electric moped sharing startup, has deployed 1,000 bikes in Brooklyn and Queens. First launched last summer with just 68 bikes, the company provides electric mopeds in public parking spaces, where registered users can take them for a ride through a mobile app. The company’s operating zone covers Williamsburg, Greenpoint, Sunset Park and Bushwick in Brooklyn, and Long Island City and Astoria in Queens. (www.gorevel.com) (AM NY)

3. NYC’s Talkspace, an online therapy platform, has raised $50 million in a Series D funding. Revolution Growth led the round with participation from Norwest Venture Partners, Omura Capital, Spark Capital and Compound Ventures. Talkspace users pay a subscription fee for unlimited messaging with one of the company’s 5,000 healthcare professional. The company also announced a deal with Optum Health which expands its reach to 5 million people. (www.talkspace.com) (TechCrunch)

4. NYC’s WeWork is reportedly in discussions with banks to arrange a $2.75 billion credit line ahead of its planned initial public offering. JPMorgan Chase & Co. is leading the potential financing  Securing a credit line from Wall Street often precedes an IPO. (www.we.co) (Bloomberg)

5. NYC’s Kustomer, a Zendesk competitor, has raised $40 million in a Series D financing. The round was led by Tiger Global Management and joined by existing investor Battery Ventures. The company’s CRM platform integrates data from multiple external channels and the software and apps that a company uses to manage its business. (www.kustomer.com) (PR Newswire).

6. NYC’s Foursquare has raised $150 million in a venture funding round and acquired Seattle’s Placed. The financial terms of the deal were not disclosed. Placed, a location-driven mobile ad intelligence platform, was acquired from Snap. Snap also invested in the funding led by The Raine Group. One of NYC’s first post-dot com era tech companies, Foursquare has pivoted from being a social network to a 0provider of location data for brands seeking to track the physical impact of digital ad campaigns. (www.foursquare.com) (www.placed.com) (TechCrunch)

7. Crain’s New York Business observes that the “City's tech accelerators are turbo-charging local startups.” In profiling accelerators such as ERA and New Labs, Crain’s credits their role in the 80% growth in NYC tech jobs over the past decade. There are now more than 100 incubators and accelerators in the five boroughs. (Crain’s New York Business)

8. Brooklyn-based Sawyer, an online booking platform for children’s activities, has raised $11 million in a Series A1 funding. Advance Venture Partners led the round and was joined by Collaborative Fund, v1.vc and Notation Capital. The company's platform is a marketplace for out-of-school learning activities, after-school programs and children’s educational programs. (www.hisawyer.com) (EdSurge)

9. NYC’s Jackpocket, a lottery ticket purchasing app, has raised an additional $5 million in its Series B funding. Investors included PROOF, BlueRun Ventures, Bullpen Capital, Conductive Ventures, DCM Ventures, Digital Currency Group, former NBA Commissioner David Stern and Subversive Capital. The company’s app, which allows consumers to purchase Powerball and Mega Millions tickets directly from state lotteries, is currently available only in a limited number of states with New York expected to be added this year. (www.jackpocket.com) (Associated Press)
 

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