Whether the future of work is in-office at a traditional office structure, hybrid, or fully remote is yet to be seen but one thing is for sure is that organizations will need IT support to meet the needs of a dynamic and evolving workforce. Companies that had the proper IT support infrastructure in place were able to respond quickly to address the pandemic without significant interruption to workflows. Electric, a pioneer in the tech-enabled managed service provider (MSP) space, supports the needs of the small and medium-sized businesses that need a dedicated IT team without incurring the cost and administrative burden of bringing these functions in-house. The company’s 100+ IT technicians are able to fully remotely manage things like a client’s networks, devices, security, applications, onboarding/offboarding, and data monitoring. Employees are able to reach an IT expert within 10 minutes to handle their inquiries using popular chat communication platforms like Slack or Teams. Electric now provides support for over 700 businesses that comprise 40,000+ employees. The company has more than doubled its ARR in the last year, acquired two businesses, and expanded the team to ~450 employees. AlleyWatch caught up with Electric CEO and Founder Ryan Denehy to learn more about the company’s growth, traction, strategic plans, latest funding round from investors that include GGV Capital, Bessemer Venture Partners, Primary Venture Partners, Greenspring Associates, 01 Advisors, Atreides Management, Vintage Investment Partners, and Slack.
Greenspring Associates
The 9 Largest US Tech Startup Funding Rounds of September 2021
Each of these companies raised at least $200M; all are hiring. Everything you need to need to know about the largest US startup funding rounds of September 2021; broken down by industry, stage, investors, and more…
#NYCtech Week in Review: 9/12/21 – 9/18/21
11 new deals representing 515M+ in new fundings for New York startups last week including several newly minted unicorns led by female founders. NYC Tech News for the week ending 9/18 featuring news for Spring Health, Grailed, Tia, and much, much more.
Ribbon Raises Another $75M to Enable Buyers to Make Competitive Housing Offers Without Contingencies
The hybrid and work-from-home trend is driving the housing market to frenzied levels. Homes are selling at record speed; the median number of days a home sits on the market is down to 3 in some popular markets. With such competition, buyers need to ensure they are presenting the most competitive and clean offers in order to ensure they are able to purchase their desired properties. Ribbon is a homeownership facilitation platform that lets existing homeowners submit all-cash offers for new properties. Ribbon’s clients, introduced through agents and lending partners, are able to avoid contingencies that can delay and derail deals in this market and sellers are guaranteed prompt payment without drawn-out closings. Founded in 2017, the startup currently operates in six states with plans to expand its footprint to include more markets and more product offerings. AlleyWatch caught up with Ribbon CEO and Cofounder Shaival Shah to learn more about the company, the state of the red-hot housing market, strategic plans, and latest round of funding from investors that include Greenspring Associates, Greylock, Bain Capital Ventures, NFX, Nyca, Thomvest, Jake Seid, First American Financial, Waterfall Asset Management, TriplePoint Capital, 75 & Sunny Ventures, Gary Beasley, Gregor Watson, and Guy Gal.
The AlleyWatch Startup Daily Funding Report: 9/14/2021
The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 9/14/2021 featuring funding details for Tia, Ribbon Home, and much more.
The Weekly Notable Startup Funding Report: 9/13/21
The Weekly Notable Startup Funding Report takes us on a trip across various ecosystems in the US, highlighting some of the notable funding activity in the various markets that we track. The notable startup funding rounds for the week ending 9/11/21 featuring funding details for Printify, Aviarix, TrueFort, and fourteen other rounds that you need to know about.
The 14 Largest NYC Tech Startup Funding Rounds of July 2021
There is no summer slowdown for NYC tech startups. July was the single-best month for startup funding with $4B+ invested into 84 companies. Here are some of the leading rounds. Everything you need to need to know about the largest NYC startup funding rounds of July 2021; broken down by industry, stage, investors, and more…
#NYCtech Week in Review: 7/18/21 – 7/24/21
20 new fundings; $680M+ in new funding secured for NYC startups this past week. NYC Tech News for the week ending 7/24 featuring news for Block Renovation, Ethena, Aiera, and much, much more.
The Weekly Notable Startup Funding Report: 7/26/21
The Weekly Notable Startup Funding Report takes us on a trip across various ecosystems in the US, highlighting some of the notable funding activity in the various markets that we track. The notable startup funding rounds for the week ending 7/24/21 featuring funding details for Miles, Dwolla, Dover, and twenty-seven other rounds that you need to know about.
Lev Raises $30M for its Commercial Real Estate Financing Platform
Data and technology are bringing changes to commercial real estate financing, an industry that has traditionally been slow to adopt innovation. The availability of data from both lenders and borrowers has allowed real-time data to be a determinant of credit decisions. Tech-enabled platforms allow borrowers to seamlessly connect to non-bank lenders, marketplace lenders, and traditional lenders. Lev is a commercial real estate full-stack financing platform that digitizes all facets of the commercial real estate financing process that handles transactions from beginning to end – origination, diligence, and closing. The company leverages machine learning to optimize the workflow of a financing, resulting in fewer errors and faster turnaround times, giving more flexibility to borrowers and lenders. In 2020, Lev closed $100M worth of financing on its platform and this year is on pace to close $1B+. AlleyWatch caught up with CEO and Cofounder Yaakov Zar to learn more about the commercial real estate market, the company’s strategic plans, and latest round of funding from investors that include Greenspring Associates, First American Title, NFX, JLL, Canaan Partners, ANIMO Ventures, and Ludlow Ventures.
The AlleyWatch Startup Daily Funding Report: 7/20/2021
8 fundings totaling $395M including three rounds that you will not read about anywhere else + details of a company that’s building floating cities in the ocean. The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 7/20/2021 featuring funding details for Lev, Tilting Point, and much more.