Friends of ICONYC!
Funding rounds are getting supersized. Have you noticed? We definitely did, and so did our founders as VCs are making bigger bets as they are hunting for giants.
A recent TechCrunch report titled “The rise and rise of supergiant rounds“, states that the size of seed and angel funding rounds grew by 145% over the past 10 years, with the majority of supergiant seed and angel rounds are raised by startups based in the SF Bay Area and New York City. Series A rounds follow a similar trend, with growth of 140% on average.
Will it generate bigger exits in NYC? If the recent $1.9 billion acquisition of Flatiron Health by Roche is an indication, some of these giant rounds will pay off at some point. One thing for sure, NYC tech is getting more and more momentum on all fronts, including larger exits with this acquisition. Read more on our Newsletter