Tech:NYC Digest: May 25

Tech:NYC Digest: May 25

May 25, 2023 • Estimated Reading Time: 8 minutes

Thursday, May 25, 2023

In today’s digest, NYC’s new rules for combating bias in AI, Justworks’ definitive guide for New Yorkers still (mostly) WFH, and the NYC founders building the post-pandemic future for mental health.

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  • A new NYC law requires companies using AI software for hiring processes must notify candidates that an automated system is being used, as well as bringing in independent auditors to check the technology for bias. (New York Times)

  • A bill passed by the City Council today aims to make it easier for more New Yorkers — including asylum seekers — to become eligible for rental assistance benefits and find more permanent housing. (Gothamist)

  • And beginning Saturday, NYC beaches are open and staffed with lifeguards (in case you’re looking for some local options to observe the Memorial Day weekend)!

In other reading:

  • A NYC Hiring Law Blazes a Path for AI Regulation (New York Times)

  • The Owner of the Flatiron Building Buys the Flatiron Building (Curbed)

  • Fleet Week return to NYC with a ton of free events (Gothamist)

One bonus resource

: The WFH (or Anywhere) Guide to NYC, from our friends at Justworks

We can scribble an endless list of ways COVID-19 upended daily life in New York, but there are at least two silver linings: It incentivized more mental health providers to spin up digital-first services and it broke down the stigmas attached to talking about mental health challenges. 

Those two outcomes aren’t disconnected, and a new wave of founders is seizing the moment to refocus healthcare on inclusion and access.

  • Virtual care models have seen an explosion in the last few years, and mental health startups continue to attract investor interest as a sector that will have long-term staying power.

  • Earlier this year, Mayor Eric Adams brought the task to City Hall, announcing an ambitious public mental health agenda focused on family and children-based resources and support for those with the most urgent needs.

Tech:NYC talked to a group of NYC founders — Real CEO Ariela Safira, Laguna Health CEO Yoni Shtein, Hopper Health CEO Katya Siddall-Cipolla, and Robin CEO Sonny Thadani — on what wellbeing means beyond the pandemic, and what’s left to do to open up access to mental health resources to all New Yorkers.

To mark Mental Health Awareness Month, they’re this month’s Companies to Watch.

  • BBy, a NYC-based breast milk storage and administration company, raised $3 million in seed funding. Pioneer Fund led the round and was joined by Y Combinator, 7G Bioventures, Cathexis Ventures, and other angels.

  • Sastrify, a NYC and Cologne-based platform for buying and managing SaaS subscriptions, raised $32 million in Series B funding. Endeit Capital led the round and was joined by Simon Capital, HV Capital, FirstMark Capital, and TriplePoint Capital.

  • Sixfold, a NYC-based generative AI tool for insurance underwriters, raised $6.5 million in seed funding. Bessemer Venture Partners led the round and was joined by Crystal Venture Partners.

Here's a small sample of new roles at Tech:NYC member companies that have come online this week: 

  • May 30: Virtual: Investors Unscripted: Crisis Management, with Mercury CEO Immad Akhund, Primary Venture Partners general partner Cassie Young, Outcast SVP Amanda Duckworth, and Sapphire Ventures partner Paul Levine. Hosted by Mercury. Register here.

  • June 1: Virtual: The Future of Clean Tech Innovations, with Sol Systems CEO Yuri Horwitz, Arcadia COO Kate Henningsen, and GRAIN Ecosystem co-founder Jason Dodier. Hosted by Savills. Register here.

  • June 6: In-person: Build Your Own Generative AI App, with Replit, Ansa Capital, and Lerer Hippeau. Register here.

  • June 6: In-person: Newlab Resilient Studio Showcase, with ElectricFish, Orenda Power, Urban Electric Power, WATTMORE, and Yotta Energy. Hosted by Newlab, NYCEDC, and ConEd. Register here.

  • June 14: Make It in Brooklyn: Clean Energy Innovations, with itselectric co-founder Tiya Gordon, Streetlife Ventures managing partner Laura Fox, Latinxs in Sustainability lead Melina Acevedo, and Wildgrid partnerships manager Martine Luis. Hosted by Downtown Brooklyn Partnership. Register here.

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