NEW YORK TECH ALMANAC
As a center for industries such as advertising, media, fashion, and finance, New York’s Tech scene has become a hotbed for innovation in the Northeast, and is now the second largest tech market in the United States.
This in-depth report analyzes the funding activity to New York’s tech industry including overall financing activity, the most well-funded companies, the top investors, top exits, and more. Below is a high-level summary of some of the report’s highlights. For all of the findings, download the entire report. It’s free.
$20.16B ON 3,843 DEALS SINCE 2009
NY-based tech companies have raised over $20B across over 3,800 deals since 2009. Deal activity has increased every year since 2009, reaching 890 deals in 2014. Funding has also increased for two straight years, and is expected to reach a seven-year high in 2015.
EARLY-STAGE STILL DRIVING BULK OF DEALS
Early-stage deals (Angel – Series A) have accounted for 60%+ of deal share in New York’s tech scene every year since 2010. Thus far in 2015, early-stage deal share has fallen to just 55%, as unattributed and other rounds have accounted for 23%, potentially a product of unnamed “pre-seed”, and “stealth” company financings.
NEW YORK EXITS HIT NEW HIGH IN 2014
Exits for New York-based Tech companies continue to come overwhelmingly from M&A activity, as 2014 saw the highest total for exits in the past 6 years. Public offerings for OnDeck Capital, Varonis Systems, Borderfree, Everyday Health, and Viggle all took place in 2014, while Etsy’s April 2015 IPO, NY’s largest venture-backed IPO ever at a valuation over $1.7B, is the most recent .
AT LEAST ONE $1B+ EXIT IN LAST THREE YEARS
As New York tech continues to flourish, at least one VC-backed tech company has exited at a$1B+ valuation in each of the past three years, a key statistic for the continued growth of the ecosystem.
LERER HIPPEAU, BOXGROUP, SV ANGEL ARE MOST ACTIVE VCs
No VC has been more active in the NY tech industry in recent years than Lerer Hippeau Ventures. LHV has invested in over 100 NY-based tech companies since 2009, including Unicorns BuzzFeed and Warby Parker. SV Angel and BoxGroup rounded out the top 3 with investments in over 70 companies each since 2009.
The NY Tech Almanac analyzes the funding activity to New York’s tech industry including overall financing
activity, the most well-funded companies, the top investors, top exits, and more. To receive the report, sign up for free below.