New York City is an unparalleled powerhouse in the startup world, boasting a vibrant ecosystem that supports over 25,000 tech-enabled startups and an ecosystem value exceeding $694 billion. As the second best startup ecosystem in the United States and maintaining its global ranking of second in the Global Startup Ecosystem Index 2024, NYC continues to attract top talent and significant venture capital.

The city's diverse startup landscape is bolstered by substantial investments in AI, ClimateTech, and FinTech sectors. Notable investments include Hugging Face's $235 million Series D and Runway's $141 million Series C in AI, along with $664 million in ClimateTech funding. New York's commitment to fostering innovation is evident in initiatives like the START-UP NY Program and the $10 million investment to expand the CUNY 2X Tech initiative, ensuring a steady pipeline of tech talent.

Furthermore, New York City’s startup ecosystem is enhanced by its strategic geographical location, offering unparalleled access to both domestic and international markets. The city's rich cultural diversity and dynamic business environment create a fertile ground for innovative ideas and entrepreneurial ventures to thrive. With a robust support system that includes accelerators, incubators, and a plethora of networking opportunities, New York City continues to be a magnet for ambitious entrepreneurs and investors looking to make a significant impact on the global stage. As we look ahead to 2024, the city's startups are poised to lead the charge in technological advancements and disruptive innovations.

1. Knoetic

Year Founded: 2020
HQ: New York, New York, United States
Size: 51-200
Founders: Joseph Quan

Knoetic is a cutting-edge people analytics and community platform designed to empower Chief People Officers (CPOs). Founded in 2020, Knoetic integrates various HR systems into a single dashboard, providing insights on employee turnover, diversity, and engagement. Its platform is enhanced by CPOHQ, a community of over 2,000 CPOs, offering networking, playbooks, and exclusive roundtables with industry experts.

In September 2022, Knoetic raised $36 million in a Series B round led by EQT Ventures, Accel, and Menlo Ventures, bringing total funding to over $50 million. This investment will fuel product development and expand support for HR teams across organizations​.

2. Mesh Analytics

Year Founded: 2022
HQ: New York, New York, United States
Size: 1-50
Founders: Michael Wang, Ron Fisher, Vivek Sudarsan

Mesh Analytics is a New York-based startup founded in 2022 that specializes in transforming B2B marketing and sales data into actionable revenue insights. Its AI-powered platform unifies, cleans, and synthesizes data from over 100 systems to provide a comprehensive view of sales and marketing activities.

Mesh's unique intelligence layer offers multi-touch revenue attribution, real-time alerts, and actionable AI recommendations, enabling businesses to optimize their marketing strategies and improve ROI without needing a data science team. Mesh Analytics has raised $3.62 million in funding to date, making significant strides in the data analytics and marketing technology sectors​.

3. Kalshi

Year Founded: 2019
HQ: New York, New York, United States
Size: 51-200
Founders: Tarek Mansour, Luana Lopes Lara

Kalshi, founded in 2098 by Tarek Mansour and Luana Lopes Lara, is the first federally regulated exchange dedicated to trading on event outcomes. Based in New York, Kalshi offers a novel asset class known as event contracts, allowing investors to buy "Yes" or "No" positions on whether specific events will happen.

Its unique platform provides a direct way to hedge everyday risks and capitalize on opinions about future events. Kalshi has raised $30 million in Series A funding, led by Sequoia Capital, with participation from Charles Schwab, Henry Kravis, SV Angel, and Y Combinator. The platform is set to launch to the public soon, offering a new model for engaging with financial markets.

4. Calibrate

Year Founded: 2020
HQ: New York, New York, United States
Size: 200+
Founders: Isabelle Kenyon

Calibrate is a health and wellness company focused on sustainable weight loss through a metabolic reset. By combining doctor-prescribed GLP-1 medication with one-on-one bi-weekly video coaching and small lifestyle changes, Calibrate aims to improve metabolic health and achieve long-term weight loss. Its program guarantees a 10% weight loss or offers a money-back promise.

Calibrate has raised over $160 million since its inception in 2019, including a $29 million private equity restructuring round in 2023. The company is recognized for its evidence-based approach and personalized care, addressing obesity as a chronic disease and partnering with employers to manage healthcare costs. Calibrate's approach is lauded for its integration of medication, coaching, and lifestyle adjustments, positioning it as a leader in value-based obesity care.

5. Prequel

Year Founded: 2021
HQ: New York, New York, United States
Size: 1-50
Founders: Charles Chretien, Conor McCarter

Prequel, founded in 2022 and headquartered in New York, offers a platform that revolutionizes data sharing for software companies. Unlike traditional APIs, Prequel creates direct connections between data platforms, allowing seamless and efficient data transfer. It supports over 20 destinations and features a simple setup, white-label customization, and multi-tenant support.

Prequel ensures data portability, real-time syncing, and analysis-ready data, which enhances customer satisfaction and reduces engineering efforts. It raised $5.2 million in seed funding and is backed by prominent investors such as NextView Ventures and Stage 2 Capital. The platform is designed to handle large volumes of data effortlessly, providing robust security measures to safeguard sensitive information, making it an essential tool for modern data-driven businesses.

6. Coast

Year Founded: 2020
HQ: New York, New York, United States
Size: 51-200
Founders: Daniel Simon

Coast, founded in 2020 and headquartered in New York, is revolutionizing fleet and fuel expense management with its innovative Visa fleet card and integrated software platform. Designed for businesses managing commercial vehicles, Coast's solution helps reduce fuel costs by an average of 10% and saves users up to 16 hours of administrative work per month.

It offers real-time spend tracking, fraud prevention, and flexible spending controls, enhancing operational efficiency and security. Coast has raised $92 million in funding and is backed by investors like BoxGroup, Accel, and Insight Partners, positioning itself as a leader in the fleet management industry.

7. Ramp

Year Founded: 2019
HQ: New York, New York, United States
Size: 200+
Founders: Eric Glyman, Gene Lee, Karim Atiyeh

Ramp is a corporate card and expense automation platform designed to streamline financial operations for businesses. It offers AI-powered workflows for automatic bill pay, frictionless expenses, global corporate cards, and comprehensive accounting automation. Trusted by over 25,000 businesses, Ramp helps organizations save money, with an average savings of 5%.

It integrates seamlessly with accounting systems and supports operations in 195 countries. In August 2023, Ramp raised $300 million at a $5.8 billion valuation, led by Thrive Capital and other investors, to enhance product development and expand its team. Ramp's customer base includes high-profile companies like Eventbrite, Discord, and Shopify, showcasing its broad appeal and effectiveness in the market.

8. Wrapbook

Year Founded: 2018
HQ: New York, New York, United States
Size: 51-200
Founders: Ali Javid, Cameron Woodward, Naysawn Naji

Wrapbook is a cutting-edge production payroll and accounting platform designed by industry veterans. It streamlines the payroll process for film, TV, and other media productions, integrating cost tracking, onboarding, reporting, and production accounting into one intuitive system. Users can onboard and pay crew swiftly, manage costs in real time, and generate comprehensive reports on demand.

With robust integrations with major accounting and production tools, Wrapbook enhances efficiency and transparency. Backed by $131 million in funding, including a $100 million Series B led by Tiger Global Management, Wrapbook aims to modernize production financial services.

9. Stairs Financial

Year Founded: 2020
HQ: Brooklyn, New York, United States
Size: 1-50
Founders: Malcolm-Wiley Floyd, Scott Fritz

Stairs Financial, founded in 2020 and headquartered in New York, specializes in helping first-time homebuyers access down payment assistance programs. It offers a comprehensive platform that matches users with eligible down payment aid and competitive mortgage rates from multiple lenders.

By streamlining the process, Stairs Financial simplifies finding and applying for various assistance programs, which can significantly reduce the initial costs of homeownership. Its automated platform requires users to fill out a short questionnaire to receive personalized recommendations. Stairs Financial has raised $3.5 million in funding and is expanding its services nationwide.

10. Abacum

Year Founded: 2020
HQ: New York, New York, United States
Size: 51-200
Founders: Jorge Lluch, Julio Martínez

Abacum, founded in 20120 is a SaaS platform dedicated to enhancing financial planning and analysis (FP&A) for mid-sized companies. It automates complex financial tasks, integrates data from diverse sources, and supports detailed scenario planning and forecasting. By centralizing financial data and providing real-time updates, Abacum helps finance teams reduce manual work and improve accuracy in financial reporting.

It has raised $32 million in funding, including a $25 million Series A led by Atomico, to further develop its product and expand its market presence. Abacum is used by companies like Typeform, Cabify, and Ebury to drive efficient business growth and streamline FP&A processes.

11. Fireblocks

Year Founded: 2018
HQ: New York, New York, United States
Size: 200+
Founders: Idan Ofrat, Michael Shaulov, Pavel Berengoltz

Fireblocks is an enterprise-grade platform that provides a secure infrastructure for moving, storing, and issuing digital assets. Founded in 2018, Fireblocks serves over 1,800 organizations, including exchanges, custodians, banks, and trading desks. It offers a comprehensive suite of tools for crypto and DeFi treasury management, financial tokenization, and stablecoin and digital asset payments.

Fireblocks' key features include MPC-CMP and hardware security to eliminate single points of compromise, real-time threat detection, and support for over 50 blockchains. It has raised $1 billion in total funding, with a valuation of $8 billion, making it a leader in digital asset infrastructure.

12. Unit

Year Founded: 2019
HQ: New York, New York, United States
Size: 51-200
Founders: Doron Somech, Itai Damti

Unit is a leading financial infrastructure platform that enables tech companies to integrate banking, payments, and lending services seamlessly. With a presence in over 25 countries, Unit supports 1.4 million users and processes over $40 billion in transactions annually. It provides scalable, secure, and compliant solutions, including FDIC-insured bank accounts, physical and virtual cards, ACH payments, and credit products.

It simplifies compliance and technical integration, allowing businesses to launch financial services quickly using customizable APIs and white-label solutions. Unit has raised $100 million in Series C funding, led by Insight Partners. The platform is praised for its robust security features and ease of integration, attracting a diverse client base ranging from fintech startups to established enterprises.

13. Cofactr

Year Founded: 2020
HQ: Brooklyn, New York, United States
Size: 1-50
Founders: Matthew Haber, Phillip Gulley

Cofactr, founded in 2020 and headquartered in New York, is transforming electronics supply chain management with its comprehensive platform. It integrates procurement, inventory, and logistics to streamline the production process for electronics manufacturers. Cofactr offers parts data intelligence, unified procurement, and software-powered logistics infrastructure to ensure accurate and timely delivery of components.

It serves diverse industries including aerospace, defense, medtech, and robotics, helping clients like Stoke Space and Salient Motion manage their supply chains efficiently. Cofactr has raised $15.2 million in funding - including a seed round of $6 million in November 2022, and is backed by investors such as Bain Capital Ventures and Y Combinator.

14. Jeeves

Year Founded: 2019
HQ: New York, New York, United States
Size: 51-200
Founders: Dileep Thazhmon, Sherwin Gandhi

Jeeves is a comprehensive financial platform designed to streamline global finance for businesses. Operating in over 25 countries, Jeeves enables companies to issue cards, manage payments, and handle expenses through a unified system. Founded in 2020, Jeeves has raised over $265 million in equity funding, including a $75 million credit facility from Community Investment Management (CIM) in 2024.

It achieved a $2.1 billion valuation and an annualized revenue of $40 million. Notable investors include Andreessen Horowitz (a16z), CRV, and Tencent. Jeeves supports companies like Kavak and Rappi in managing international financial operations efficiently.

15. Therify

Year Founded: 2021
HQ: Brooklyn, New York, United States
Size: 1-50
Founders: James Edward Murray, Warren Sadler

Therify, founded in 2021 and headquartered in New York, offers a comprehensive mental health platform designed to enhance employee well-being and performance. It provides personalized matching with licensed therapists, stress management coaching, and community-building activities.

Therify focuses on accessibility, ensuring employees from diverse backgrounds find culturally sensitive care, leading to 92% of users reporting improved mental health outcomes. It also integrates seamlessly with health plans, facilitating easy access to in-network care. Therify has raised $3.8 million in funding to date - including a $1.3 million seed round in December 2021, backed by investors like SoftBank’s SB Opportunity Fund and Y Combinator.

16. Hebbia

Year Founded: 2020
HQ: New York, New York, United States
Size: 51-200
Founders: George Sivulka, Lukas Schmit, Tim Lupo

Hebbia is a generative AI platform founded by George Sivulka, designed to enhance knowledge work through AI-powered search and analysis of large documents. It is particularly valuable for asset managers, investment banks, and legal firms, enabling them to transform vast amounts of information into actionable insights efficiently.

In July 2024, Hebbia raised $130 million in a Series B funding round led by Andreessen Horowitz, with participation from Index Ventures, Google Ventures, and Peter Thiel. This funding will support its mission to build human-centric AI solutions and expand its capabilities across various sectors.

17. Tomorrow Health

Year Founded: 2018
HQ: New York, New York, United States
Size: 51-200
Founders: Vijay Kedar

Tomorrow Health is a New York-based startup focused on enhancing home-based healthcare through technology. Founded by Vijay Kedar, it provides a platform that connects patients, healthcare providers, and insurers to facilitate seamless home care. The company leverages its network to match patients with over 40,000 products and services, ensuring efficient and timely care delivery.

Tomorrow Health has raised $92.5 million in funding, including a $60 million Series B led by BOND. Its technology improves patient outcomes, reduces provider workload, and streamlines care delivery. The platform has demonstrated significant results, such as a 45% reduction in time spent by medical providers managing home-based care and a 97% on-time care start rate, compared to the industry average of 50%​.

18. Cyera

Year Founded: 2021
HQ: New York, New York, United States
Size: 51-200
Founders: Tamar Bar-Ilan, Yotam Segev

Cyera is a data security platform that provides holistic protection and management of sensitive data across cloud and on-premise environments. Using AI, Cyera offers solutions for data risk assessment, discovery, classification, security posture management, and data detection and response.

It deploys in minutes without agents, enabling organizations to understand and mitigate data risks effectively. Trusted by companies like Paramount and LifeLabs, Cyera’s agentless, cloud-native approach ensures real-time protection and compliance. In 2024, Cyera raised $300 million in a Series C round, reaching a $1.4 billion valuation.

FAQs

1. What sectors are thriving in New York's startup ecosystem?

New York's startup ecosystem thrives in several key sectors, including AI, ClimateTech, and FinTech. AI startups like Hugging Face and Runway have secured large investments, while ClimateTech companies received $664 million in funding across 34 deals in 2023. The city also hosts over 1,600 FinTech startups.

2. What resources are available for tech talent in New York City?

New York City has a large base of STEM-educated adults and numerous partnerships with tech companies to redesign IT curricula. The CUNY 2X Tech initiative and the $600 million plan launched in December 2023 are examples of the city's commitment to building a high-quality tech talent pipeline.

3. How significant is venture capital in New York's startup ecosystem?

Venture capital is highly significant in New York's startup ecosystem, with the city raising $9 billion in venture capital in 2023 alone. Home to over 1,200 active venture capital firms, NYC's startups benefit from substantial funding opportunities, including initiatives like the Venture Access Alliance, which aims to increase diversity in tech and venture ecosystems.