With so much going on in the city’s thriving ecosystem, it is easy to miss some of the happenings in the space. We keep you abreast of the things that you may have missed in NYC Tech News for the week ending 5/16/26 including the NYC startup fundings, NYC startup exits, and NYC startup events featuring news for Forus, Frame Security, Cinder, and much, much more.
Forus – $123M
Health TechPharmaAI
Forus, an AI-powered network that connects doctors, pharmacies, payers, and biopharma to help patients access prescribed therapies, has raised $123M in Series B funding from investors that include Thrive Capital, General Catalyst, Accel, Bain Capital Ventures, Redpoint, BoxGroup, and Pear VC. Founded by Sahir Jaggi in 2023, Forus has now raised a total of $160M in reported equity funding.
Frame Security – $50M
CybersecurityAI
Frame Security, a cybersecurity platform that trains employees to recognize and respond to AI-powered social engineering, deepfake, and phishing attacks, has raised $50M in Venture funding led by Index Ventures, Team8, and Picture Capital, with Assaf Rappaport and Gil Capital. Frame Security was founded by Tal Shlomo, Sharon Shmueli in 2025.
Cinder – $41M
Trust & SafetyAISaaS
Cinder, a trust and safety platform that deploys AI agents to help companies detect and respond to digital abuse, fraud, and manipulation, has raised $41M in Series B funding led by Radical Ventures, with participation from Accel, Y Combinator, M12, PSP Growth, and Neuberger’s Outpost Ventures. Founded by Glen Wise and Philip Brennan in 2022, Cinder has now raised a total of $55M in reported equity funding.
Sandstone – $39.6M
Legal TechAI
Sandstone, an AI-native legal workflow platform that automates operations and business context management for in-house corporate legal teams, has raised $39.6M in funding according to a recent SEC filing. The filing indicates that the total offering is for $41.3M and there were thirty investors in this close. Founded by Nick Fleisher, Jarryd Strydom, and Liam Germain in 2025, Sandstone has now raised a total of $49.6M in reported equity funding.
BranchLab – $26M
Health TechPharma TechAI
BranchLab, an AI platform that helps pharmaceutical companies identify, activate, and optimize patient and provider audiences for therapy commercialization, has raised $26M in Series A funding led by McKesson Ventures, with participation from FCA Venture Partners, Sanofi Ventures, and AIX Ventures. Founded by Josh Walsh, Michael Parkes, Chris Cagle in 2024, BranchLab has now raised a total of $35M in reported equity funding.
GovWell – $25M
Gov TechAISaaS
GovWell, an AI operating system for local government agencies that automates permitting, licensing, and administrative workflows, has raised $25M in Series A funding led by Insight Partners. Founded by Troy LeCaire, Ben Cohen in 2023, GovWell has now raised a total of $34.5M in reported equity funding.
Novella – $21M
InsurTechAI
Novella, an AI-native wholesale insurance brokerage that provides specialty and excess-and-surplus coverage solutions for brokers with complex commercial risks, has raised $21M in Venture funding led by Brewer Lane Ventures, with participation from BoxGroup, Crystal Venture Partners, SV Angel, Avid Ventures, Verissimo Ventures, Blank Ventures, and Arch. Novella was founded by Max Kane in 2024.
Anomaly Insights – $17M
Health TechAIAnalytics
Anomaly Insights, an AI-powered payer intelligence platform that analyzes healthcare transaction data to help providers recover underpayments and improve payer contract negotiations, has raised $17M in Venture funding led by Sound Ventures, with participation from Alumni Ventures, Link Ventures, Redesign Health, and RRE Ventures. Founded by Jacob Shiff, Jon Hoffman in 2020, Anomaly Insights has now raised a total of $34M in reported equity funding.
ECOncrete – $14M
CleanTechMarine Tech
ECOncrete, a bio-enhancing marine construction company that produces ecological concrete systems for coastal, port, and offshore infrastructure, has raised $14M in Venture funding led by Builders Vision, with participation from Barclays Climate Ventures, the Prince Albert II of Monaco Foundation, Monaco Asset Management (ReOcean Fund), BDT & MSD Partners (Oceans Catalyst), and DCP. Founded by Dr. Ido Sella and Dr. Shimrit Perkol-Finkel in 2012, ECOncrete has now raised a total of $35.3M in reported equity funding.
e4n – $12.5M
IT ServicesAIManaged Services
e4n, an operator-led managed services platform that acquires and partners with local IT businesses to grow them through AI-enabled automation and shared operating capabilities, has raised $12.5M in Venture funding The filing indicates that the total offering is for $20M and there were thirty-eight investors in this close. e4n was founded by Herve Tessler in 2026.
Turnkey – $12.5M
CryptoWeb3FinTech
Turnkey, a crypto wallet infrastructure platform that provides non-custodial wallets, automated onchain transactions, and verifiable computing for digital assets and sensitive workloads, has raised $12.5M in Venture funding led by Archetype and Circle Ventures. Founded by Bryce Ferguson, Jack Kearney in 2022, Turnkey has now raised a total of $65M in reported equity funding.
Exponent – $7.7M
FinTechSaaS
Exponent, a financial platform that provides lending, charge cards, and AI-powered CFO tools for multi-unit franchise operators, has raised $7.7M in Series A funding led by Era and Chailease, with K8 Fund, Kyle Huzma, Haza Foods, and Chunara Group. Founded by Sohel Roopani in 2024, Exponent has now raised a total of $10M in reported equity funding.
Violette_FR – $5M
BeautyConsumer
Violette_FR, a vegan and cruelty-free beauty brand that offers French-inspired makeup, skincare, haircare, and fragrance products, has raised $5M according to a recent SEC filing. The filing indicates that there were three investors in this round. Founded by Violette Serrat in 2021, Violette_FR has now raised a total of $11.9M in reported equity funding.
4AM – $4M
SkincareBeautyConsumer
4AM, a skincare brand that produces serum-infused facial wipes designed for simplified on-the-go cleansing and skincare routines, has raised $4M in Seed funding led by CAVU Consumer Partners, with B4 Capital, Type Capital, Cassandra Grey, Brian Bordainick, Muneeb Shah, Michelle Hu, Joyce Park, and Maggie Sellers Reum. 4AM was founded by Sabrina Sade, Jade Beguelin in 2021.
Saile – $2.2M
Health TechStaffingSaaS
Saile, a healthcare staffing and credentialing platform that gives physicians a portable credential passport and connects them directly with facilities for flexible per diem, locums, and telemedicine work, has raised $2.2M in Pre-Seed funding led by Matchstick Ventures, with participation from Headwater Ventures. Saile was founded by Marc Ayoub, Taylor Hakes in 2025.
Chromie Health – $2M
Health TechAIWorkforce Management
Chromie Health, an AI-powered workforce scheduling platform that automates hospital shift management and staffing operations, has raised $2M in Pre-Seed funding led by AIX Ventures. Chromie Health was founded by Douglas Ford, Scott Tisoskey, Patricia Ford in 2024.
