Tech:NYC Digest: March 30

Tech:NYC Digest: March 30

March 30, 2023 • Estimated Reading Time: 7 minutes

Thursday, March 30, 2023

In today’s digest, the deadline nears to pass New York’s budget, NYC Ferry goes electric, and why Ramp says that NYC startup growth metrics are moving in the right direction.

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  • The New York state budget is due on April 1, but it’s still far from certain that lawmakers will meet the deadline to get it passed by then. Here’s a quick guide of what’s at stake.

  • The city’s first hybrid-electric ferry debuted this week, with plans to launch travel for 1,200 passengers per trip between lower Manhattan and Governors Island next summer. (NY1)

    • And there’s currently an open competition to name the new ship. If you have a creative idea, submit it here.

  • Google expanded its investment in New York today by partnering with a coalition of other community groups to officially open Pier 57’s new community spaces. The addition to its campus is anchored by a lot of new public space, including a James Beard Foundation-curated hood fall, a marine biology Discovery Tank from Hudson River Park, a rooftop park, bookable community space for events, and more. Learn more and plan your visit here.

In other reading:

  • Why Good-Cause Eviction Keeps Dying in New York Courts (Curbed)

  • Meet the New Yorkers who ‘keep democracy going’ one signature at a time (Gothamist)

  • The floating Mexican restaurant set to open on the Hudson River this spring (Time Out New York)

Most predictions would have you believe fundraising and hiring in tech continues to drag, but in New York, that doesn’t tell the full story, writes Crain’s New York.

What’s new: A new report by Ramp, the NYC-based expense management startup, found that businesses are actually growing.

  • Data from 331 New York-based businesses that joined Ramp’s platform in the second quarter of last year, including 172 venture-backed companies, showed a 67% growth rate in their average headcount to date.

  • During the same period, monthly spending at those companies also increased by 34%, although that increase is more measured than in other periods, representing a trend that startups are monitoring their expenses more closely.

Inspired Capital founder Alexa von Tobel isn’t surprised by those numbers: “New York City has had a return to work more quickly than other locations,” she said. “We have seen that the majority of our companies in New York City have in some way returned to office, and with the return to office, they have accumulated more hires here.”

In other reading:

  • How generative AI will enhance — not erase — customer service jobs (Harvard Business Review)

  • Americans still aren’t taking all their paid time off (Axios)

  • Microsoft chief people officer: We’re experiencing a human energy crisis (Fast Company)

  • LeapXpert, a NYC-based employee chat monitoring and compliance startup, raised $22 million in Series A funding. Rockefeller Asset Management led the round and was joined by Uncorrelated Ventures and the Partnership Fund for New York City.

  • Markerr, a NYC-based analytics platform for institutional real estate owners, raised $6.6 million in Series B funding. RET Ventures led the round and was joined by Pretium.

  • Stratyfy, a NYC-based machine learning solutions provider, raised $10 million in funding. Truist Ventures and Zeal Capital Partners co-led the round and were joined by Mendon Venture Partners, The 98, FIS, and others.

  • April 3: In-person: The Business Case for Second Chance Employment, with Verizon CEO Hans Vestberg, JPMorgan Chase EVP of human resources Robin Leopold, Justice Through Code founder Aedan Macdonald, and others. Hosted by the Business Roundtable and Columbia Business School. Register here.

  • April 4: In-person: How to Execute a Powerful Content Marketing Strategy, with Pandium founder Cristina Flaschen, Sharmar Brands CEO Nik Sharma, Thingtesting head of content Natalie Sportelli, and Adore Me head of strategy Ranjan Roy. Hosted by Stacklist and Betaworks. Register here.

  • April 4: In-person: Make it in Brooklyn Female Founders Pitch Contest, with Female Founders Fund principal Adriana Samaniego, NYCEDC EVP Faye Penn, HearstLab venture associate Eastin Rossell, and others. Register here.

  • April 11: Virtual: Qualifying and Forecasting: How Real Are Your Deals?, with Work-Bench sales advisor Kiran Narsu. Register here.

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