We’ve been investing in enterprise tech startups for nearly a decade now and for the past several years, we’ve been tracking the local NYC enterprise ecosystem’s growth through a series of Enterprise Tech in NYC Funding Reports.
See our most recent report on 1H 2022 funding here.
TL;DR: Despite all the doom and gloom in today’s market with slashed valuations and new profitability expectations for startups, NYC’s enterprise tech ecosystem continues to fare well. While 2021’s record shattering funding activity ($16.7B raised across 237 deals) set a high bar, 1H22 stats still delivered a solid start to the year, especially in comparison to years prior.
Some additional key highlights from 1H22:
- $3.2B was raised across 90 deals (pacing beat 2020’s COVID-bump supported stats)
- Seed activity flourished (comprising 27.8% of all raises), while late stage rounds experienced the greatest pullback
- Median raise amounts increased across Seed, Series A, and Series B, likely due to more due diligence and conviction in today’s macro environment
- Our total NYC enterprise unicorns increased to 42 and the top sector is Data/AI/ML
- There were no meaningful exits (IPO or M&A)
We also saw movement on our NYC Enterprise Tech Index - our ranking of the top 75 private, venture backed enterprise tech startups. The median raise for a company on the list is $229M and the top sector is Risk/Security, comprising 19 companies (25.3% of the Index).
