The State of Enterprise Tech in NYC: 1H 2020 Funding Report

Jul 17, 2020
The State of Enterprise Tech in NYC: 1H 2020 Funding Report
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Here at Work-Bench, there are two things we love above all else: Enterprise tech and NYC. For the past several years, we’ve been tracking, recording and analyzing NYC enterprise tech funding data (see past reports from 2016, 2017, and 2019) and have continued the tradition this year!

See the complete 1H funding report 👉 here 👈

While 2020 has been an unprecedented year so far with NYC being hit hard as COVID-19’s epicenter, our findings were clear:

New York City enterprise tech is on 🔥 and has remained resilient throughout 1H 2020 despite COVID-19.

Some key findings:

  • Q2 2020 (with $1.5B raised over 51 deals) saw greater deal volume and deal activity than Q1 2020 (with $1.3B raised over 44 deals).
  • NYC has 10 unicorns primed for future IPOs and M&A as well as 27 “next guard” startups worth between $500M-$1B and/or raised >$100M in funding.
  • The most notable funding round growth occurred at the Seed stage with a $4.4M median Seed raise in 1H 2020, which is ~50% more than 2019 and ~3x more than 2014.

We couldn’t be more excited to see what’s next for enterprise tech in NYC. If you’re an early stage enterprise tech startup looking for funding or to engage in our NYC enterprise ecosystem, please reach out and sign up for our Enterprise Weekly Newsletter below for our weekly Friday digest of enterprise tech news.

PS — If you’d like to check out the underlying data for yourself, check out our public NYC Enterprise Funding Database. The database records every single financing from 2014–1H 2020 for NYC enterprise startups, and for each financing we include the company name, amount raised, and the funding round.

Funding Reports