Today, I take a look at the state of venture capital and angel funding during the month of June, both in New York and nationally. Analyzing some publicly available data from our friends at CrunchBase, we break down the national aggregate statistics for all funding deals by stage of funding (Angel/Seed, Series A, Series B, and Series C+). To focus on tech-enabled startups, biotechnology companies were excluded from the data set.
One Minute Takeaway
Another strong month in NYC for startup funding with total funding with over $700M in funding announced in NYC alone. Notable late stage fundings for Casper, Freshly, ClassPass, and Cadre nearly drove over half of the total funding for the month in the city. As a result NYC accounted for over 25% of late stage funding nationally. Series A funding was quite strong in NYC, up over 46% with strong rounds for Bowery Farming and Trilogy Education driving the growth. Series B funding was particularly weak for the month in NYC; down over 60% month over month with only 3 announced deals. Early stage financing was also weak; down 37% for the month from May levels. Nationally, funding was up over 13% and in excess of $6B overall with increases across all stages with the exception of the Series A level where funding reverted back to normal levels recovering from the inflated levels in May from the unusually large financing for Outcome Health.
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