The State of Enterprise Tech in NYC: 2H 2021 Funding Report

Feb 8, 2022
The State of Enterprise Tech in NYC: 2H 2021 Funding Report
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At Work-Bench, 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. Our newest Report dives into all the latest and greatest data and our analysis of the last 6 months of 2021.

Read the full report here.

TL;DR: Enterprise tech funding in NYC set colossal new records in 2021 🔥 We found that NYC enterprise tech startups raised $16.7B in 2021. That’s 2.9x the total of 2020’s record year ($5.8B)!

Some additional key highlights from 2H 2021:

  • Exits were strong with 2 IPO’s and $3.5B in M&A, leveling NYC up to 10+ public enterprise software companies
  • Unicorns nearly doubled from 18 to 35
  • Mega rounds were a high contribution to funding given deal count only increased 25%, but overall funding soared
  • Next Guards continued scaling with 30 rounds that were > $100M and 17 rounds between $50 — $100M
  • Risk and Security led the pack as a dominating sector

We also saw many companies climb the ranks of our NYC Enterprise Tech Index (our list of the largest fast-growth enterprise companies in NYC):

👑 Articulate unseated Celonis as the #1 spot. Articulate raised $1.5B in its first ever funding round after bootstrapping since 2002. The company sells into all 100 of the Fortune 100.

Funding Reports