There were 27 mega ($100M) funding rounds in the city, an increase of 145% from 2019. This growth came largely from Series B and Late-Stage companies, where there was a 50+% increase in the number of companies funded (Series B – 60 to 91, Late Stage – 62-96).
Given the strength in the equities market, a number of companies that were previous candidates for IPO may file in 2021 (ZocDoc, Harry’s, Warby Parker)Ħ84 companies were able to raise funding in NYC in 2020, an increase of 13% from 2019.
Firstmark became the first New York venture firm to set up its own SPAC, a $360M instrument in October. Adding to the excitement and potential exit paths for NYC startups is the meteoric rise in SPACs with Bark’s announcing its intention to merge in December. The New York Tech ecosystem matured with a number of successful recent venture-backed IPOs that have performed well (Lemonade 2020, fuboTV 2020, Vroom 2020, Peloton 2019, Datadog 2019) and a robust IPO and pipeline (UiPath, Oscar Health). Quarterly funding levels each quarter exceed those of 2019 and funding each quarterly steadily rose in 2020. 2020 funding figures surpassed the $7.2B mark set in 2019, representing a 67% growth year-over-year. By the end of 2020, the venture capital industry deployed $12B in NYC-based startups, the highest total on record, driven by strong Series B and Late Stage (Series C+) activity. Read on to find out about some of these companies and their founders.Both NYC VC deal count and value have moved into record territory in 2020 with increases in deal size.ĭespite the challenges faced as a result of the pandemic, NYC startup activity was remarkably resilient. To put that in a broader context, McKinsey alumni have, as of this writing, founded about 3.5 percent of the world’s current unicorns. What you may not know is that a number of start-ups founded by alumni in the past decade have become unicorns, or privately held start-ups-usually tech based-valued at $1 billion or more.
Alums have founded or cofounded a number of familiar companies, including Ashoka, Innocent Drinks,, and Viking River Cruises. May 29, 2019McKinsey alumni are enthusiastic entrepreneurs: about 20 percent go on to found their own companies after leaving the firm.
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