AlleyWatch sat down with Stepful CEO and Co-Founder Carl Madi to learn more about the business, its future plans, recent funding round that brings the company’s total funding to $105M, and much, much more…

Who were your investors, and how much did you raise?

This is our Series C: $55M, led by Oak HC/FT, with participation from new investors Foresite Capital, Hearst Ventures, and the Citi Impact Fund, alongside existing investors SemperVirens, Y Combinator, Intermountain Health, and ECMC Education Impact Fund. It’s a meaningful milestone, but what excites us more is what it unlocks: deeper health system partnerships, expanded program offerings, and the infrastructure to scale what’s working.

Tell us about the product or service that Stepful offers.

Stepful is a School-as-a-Service for healthcare employers. We partner with health systems to build and run their own talent pipelines – training entry-level and mid-career workers for high-demand clinical roles like medical assistant, pharmacy technician, surgical tech, LPN, and now degree programs like RN and Respiratory Therapy through our accredited college entity, St. Louis College of Health Careers.

We handle everything: admitting students, running the training program, coaching students through to completion, and tracking outcomes. Health systems get a steady, predictable pipeline of practice-ready talent without having to spin up a program from the ground up. Workers get an affordable, employer-sponsored pathway to a healthcare career, debt-free.

We’ve trained over 32,000 graduates and partner with more than 35 health systems, including Mount Sinai, Ochsner, and Providence.

What inspired the start of Stepful?

Stepful was founded during the pandemic. My cofounders Tressia Hobeika, Edoardo Serra, and I watched gig workers, people who had been driving for Uber, doing home services through Handy, lose their income overnight. These were hardworking people with real potential and no clear path forward.

At the same time, healthcare was screaming for workers. The shortage wasn’t new, but the pandemic made it impossible to ignore. Here was an industry desperately in need of people, and here were people desperately in need of careers, and there was no infrastructure to connect them efficiently.

We believed there had to be a better way: one that was fast, affordable, online, and built around what employers actually need. That’s what we set out to build.

How is Stepful different?

Most workforce solutions in healthcare operate like a staffing agency or a tuition benefit – a vendor relationship, not a pipeline. Health systems either rent talent from agencies at enormous cost or offer employees a tuition discount and hope they finish on their own.

We’re structurally different. We function as the health system’s own school – we own curriculum, delivery, coaching, and outcomes. Our students graduate and pass certification exams at rates well above the national average.

We also approach economics differently. As a tech-native school, we’re built to be profitable at scale, which means we can keep growing without subsidizing access at the expense of quality.

What market does Stepful target and how big is it?

Healthcare is the largest employer in the United States and faces a workforce shortage that will only deepen as the population ages and experienced workers retire. While we estimate the US healthcare training market to be $27B for the programs we’re targeting, health systems spend an estimated $97B annually on contract and agency labor.

Our opportunity extends across every healthcare employer that struggles to find and keep entry-level clinical workers – which is virtually all of them. Recently, our focus has been on partnering with the largest health systems that have the scale, the urgency, and increasingly the budget conviction to invest in building their own talent rather than renting it.

What’s your business model?

Employers pay us to train their employees or their prospective hires – we run the program, coach students, and deliver outcomes. Because we own the full stack (curriculum, platform, instruction, student success), we can offer better scale and program pricing.

On the B2C side, individuals can enroll directly into programs.

How are you preparing for a potential economic slowdown?

Healthcare is structurally resistant to downturns – people don’t stop needing care when the economy softens. If anything, budget pressure makes our model more compelling: a health system facing tighter margins has even more reason to stop spending on expensive agency labor and start building from within, quickly. Employer-sponsored programs allow people to continue filling these roles when people are struggling with affordability.

We’re also disciplined about unit economics and built a business that doesn’t require growth to be profitable.

What was the funding process like?

These are two of the most complex, regulated, and outcome-sensitive sectors in the economy. Most of the investors in this round had previously invested and seen the traction we’ve already achieved with the top US health systems.

The new investors who got excited quickly were ones who had seen how broken the pipeline is from the inside, either as healthcare operators or as investors who’d watched the space struggle, and who understood how we’ve built a regulatory and operational moat in the space.

Oak HC/FT’s deep healthcare expertise has been an amazing asset, and their alignment with our category thesis has made them an excellent partner.

What are the biggest challenges that you faced while raising capital?

The hardest thing to explain to investors unfamiliar with the space is why this problem hasn’t been solved already. Healthcare has enormous resources. Education has had decades of online innovation. The question we got repeatedly was: why now, why you?

The answer is that the technology to deliver high-quality, cohort-based, instructor-led training at scale has only recently become good enough, through leveraging AI, to produce outcomes employers trust.

What factors about your business led your investors to write the check?

Three things, I think. First, the numbers: 32,000+ graduates, 89% certification rate, 200%+ net dollar retention, and high gross margins. We’ve proven quality, scale, and strong unit economics, which is extremely rare in education. We grew graduates more than 3x last year and more than 4xed our enterprise bookings year over year last quarter. The market pull from these programs is real.

Second, the category insight: workforce development is an infrastructure problem, not an L&D problem. Leveraging the combined power of our software and programs, we’re able to meaningfully solve talent pipeline issues for health systems, rather than just creating an educational benefit or another band-aid.

Third, our regulatory moat. By acquiring an accredited institution, we can now offer degree pathways, significantly expanding the market and accelerating what would have taken us a decade to build from scratch.

What are the milestones you plan to achieve in the next six months?

Our focus now is on building new health system partnerships, expanding with our existing clients, and continuing to profitably grow our direct-to-consumer business. We’ll also be doubling down on investing in our learning platform, integrating more personalization with AI-integrations.

Our focus now is on building new health system partnerships, expanding with our existing clients, and continuing to profitably grow our direct-to-consumer business. We’ll also be doubling down on investing in our learning platform, integrating more personalization with AI-integrations.

What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?

Build something where the unit economics work before you scale. We spent a long time making sure one cohort, one health system, one program was profitable and repeatable before we poured fuel on it. That discipline is what lets you survive a funding gap and builds investor confidence when you do go out to raise.

And be honest with yourself about what you’re actually solving. A lot of companies raise on a problem that exists but build a solution that doesn’t fit how the market actually buys. Talk to your customers obsessively, especially the ones who said no.

Where do you see the company going now over the near term?

We’re focused on deepening existing health system partnerships while selectively adding new enterprise clients. The college acquisition opens degree pathways we didn’t previously have, and we’ll be growing that side of the business meaningfully over the next year.

Longer-term, we believe Stepful will become the infrastructure layer for how large healthcare employers develop their entire workforce – from entry-level roles all the way through nursing leadership. The pipeline we’re building today feeds both ends of that ladder.

What’s your favorite spring destination in and around the city?

I love going to Jones Beach for day trips.

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AlleyWatch sat down with Rylo CEO and Cofounder Tomer Aharoni to learn more about the business, its future plans, recent round of funding, which brings the company’s total funding raised to over $100M, and much, much more…

Who were your investors and how much did you raise?

In its recent Series B round, Rylo (formerly Nagish) raised $85M in new capital, bringing the company’s total financing to date to over $100M. The financing includes growth funding from General Catalyst’s Customer Value Fund (CVF) alongside a new investment led by Canaan, with continued participation from existing investors Vertex Ventures and Contour.

Tell us about the product or service that Rylo offers.

Rylo delivers essential components that Deaf and hard-of-hearing users depend on daily: real-time captioning and text-to-speech of phone calls and in-person communication, all done utilizing AI.

Advanced AI features include:

The Rylo Phone app will continue providing its essential daily tools: AI-driven, real-time captioning and text-to-speech for both phone calls and in-person conversations.

Rylo is also introducing a suite of unique, advanced AI features designed to give users an experience equivalent to the experience of hearing people on  a traditional phone call.

New and upcoming tools include workplace accessibility features, network improvements, speaker characteristics, and sentiment analysis to help users better interpret tone.

To help users navigate conversations safely, the app integrates real-time fraud and scam detection, allowing for a more independent and confident communication experience.

What inspired the start of Rylo?

Back in 2019, while attending Columbia University, I was sitting in class when I received a call. Unable to speak or hear during the lecture, I found myself wondering, “How can someone have a phone call when they can’t speak or hear?” After class, I shared this thought with Alon Ezer, my co-founder and Nagish’s CTO. His immediate response was, “How do Deaf people communicate?” That moment opened our eyes to a significant gap: the Deaf and hard-of-hearing community did not have the ability to have private conversations. They were forced to rely on interpreters, stenographers, captioners, friends, family, or others to communicate. We knew we had to change that.

How is Rylo different?

What sets Rylo apart isn’t just the technology, but the community that serves as its foundation and focus. While many companies shy away from niche markets, my team at Rylo leaned into this space, building a communication bridge from the ground up. Unlike traditional alternatives, Rylo rejects the community’s dependence on outdated transcription tools and third-party interpreters, leveraging AI to provide users with complete independence, privacy, and real-time communication without barriers.

Rylo was built in direct partnership with members of the Deaf community to shape and refine the product. This commitment is reflected in our hiring strategy: We always aim to hire from the communities we’re serving and we have intentionally grown a diverse team of Deaf and hard-of-hearing team members.

What market does Rylo target and how big is it?

Rylo’s mission is to build the most reliable, accurate, and accessible communication tools for the billion+ individuals living with hearing loss.

We are driven by  a lean team of only 32 members, all united by this shared mission and goal.

What’s your business model?

Rylo has several business models. Our phone captioning and voicing solutions are paid for a federally administered program, while other products such as workplace solutions are paid for by employers.

How are you preparing for a potential economic slowdown?

We are diversifying our revenue stream, relying heavily on AI and are doing everything we can to keep the team lean.

What was the funding process like?

Throughout the journey, we faced pushback from candidates, other founders, and investors who viewed the product as a “cute project” rather than a serious, scalable business opportunity. Many investors questioned the size and validity of the hearing-loss market.

To counter the “noble project” stigma, we explicitly rejected meetings with Impact Funds. We wanted to prove that accessibility is a highly lucrative sector and ultimately brought on prominent venture capital firms like General Catalyst, Canan, K5 Global, Precursor, Vertex, Cardumen and others.

What are the biggest challenges that you faced while raising capital?

When we raised our Seed round, we faced rejection 77 times before we finally got a “yes.” For two and a half years, we operated without generating revenue, working tirelessly to show that Rylo (then Nagish) could become a sustainable and impactful business. Those ups and downs kept me grounded, constantly reminding me that the most important thing is serving our users, and the rest will naturally follow.

What factors about your business led your investors to write the check?

Investors were driven to back Rylo because the company moved faster than anything they’ve seen before. Our ability to constantly deliver on our promises and successfully leverage AI to address a critical, historically underserved need in communication accessibility with a product that deeply resonates with its users, was a clear mark that we’re doing things differently here.

Investors were driven to back Rylo because the company moved faster than anything they’ve seen before. Our ability to constantly deliver on our promises and successfully leverage AI to address a critical, historically underserved need in communication accessibility with a product that deeply resonates with its users, was a clear mark that we’re doing things differently here.

What are the milestones you plan to achieve in the next six months?

We have aggressive goals for the rest of the year, but our main milestone is expanding the team by bringing in the brightest people out there.

What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?

More than anything, and especially in today’s landscape, don’t get distracted by external factors like how much another company has raised or who the competition is. Those factors don’t matter as much as they seem. A competitor’s new product launch doesn’t mean they know better than you, as long as you stay close to your users and trust your instincts. Only two things truly matter: revenue growth and user impact, and neither happens in the spotlight.

Where do you see the company going now over the near term?

Over the near term, I see Rylo evolving into an essential communication companion that is accessible anytime and anywhere communication takes place. While we currently focus heavily on over-the-phone communication, we already have an in-person solution built right into our app, and we plan to launch a dedicated workplace solution next. Following our recent $85 million funding raise, we are aggressively using this capital to educate the public and scale the company, with the ultimate goal of making Rylo a known household name. Part of this next chapter includes deep innovation; following our acquisition of SignMT, we are actively researching the possibility of leveraging AI to achieve real-time sign language translation with absolutely no humans in the loop. Ultimately, our vision is to build an entire ecosystem that removes every single piece of communication friction, whether that means completing a routine task like ordering a coffee, placing an emergency call to 911, or seamlessly talking to a doctor.

What’s your favorite spring destination in and around the city?

My favorite spot during the spring is the West Village. Everyone is out, the weather is amazing. A walk, an early coffee in the sun, or a sunset drink at Bar Pisellino always makes me happy.

Norm Ai – $120M

AIENTERPRISE

Norm Ai, a legal AI platform that automates legal and compliance work for regulated companies, has raised $120M in Series C funding led by Khosla Ventures with participation from Blackstone, Bain Capital Ventures, Craft Ventures, Coatue, Vanguard, New York Life, TIAA, Tony James, Jeff Hammes, and Fenwick & West. Founded by John Nay in 2023, Norm Ai has now raised a total of $260M in reported equity funding.

M1X Global – $5.5M

FINTECH

M1X Global, a fintech company that helps governments issue and manage sovereign debt on public blockchains, has raised $5.5M in Seed funding led by Paradigm with participation from Breed VC. Founded by Mark Lurie and Jordan Goldman in 2023, M1X Global has now raised a total of $8.5M in reported equity funding.

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Advance – $4.25M

FINTECHINSURTECH

Advance, a fintech platform that simplifies premium payment collection and management for insurance agencies and brokers, has raised $4.25M in Venture funding. The filing indicates that the total offering is for $5M and there were five investors in this close. Founded by Omer Rimoch and Gal Dreiman in 2024, Advance has now raised a total of $12.8M in reported equity funding.

Octozi – $3M

AIHEALTHTECH

Octozi, an AI platform that automates clinical trial data cleaning and review for pharmaceutical companies, has raised $3M in Seed funding led by Surface Ventures with participation from Remarkable Ventures. Octozi was founded by Amit Patel, Cedric Odje, and Matthew Purri in 2023.

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10. Cadence Solutions $100.0M
Round: Series C
Description: Cadence is a healthcare technology company that provides remote patient care and chronic disease management services. Founded by Christopher Altchek and Kareem Zaki in 2020, Cadence Solutions has now raised a total of $241M in total equity funding and is backed by General Catalyst, Thrive Capital, B Capital, Coatue, and Spark Capital.
Investors in the round: B Capital, Coatue, Corewell Health Ventures, Duke Health, General Catalyst, Memorial Hermann Hospital, Spark Capital, Thrive Capital
Industry: Health Care, Hospital, Medical
Founders: Christopher Altchek, Kareem Zaki
Founding year: 2020
Total equity funding raised: $241.0M

10. Premier Lacrosse League $100.0M
Round: Series E
Description: Premier Lacrosse League is a professional sports league that organizes and operates elite men’s professional field lacrosse competition. Founded by Michael Rabil and Paul Rabil in 2018, Premier Lacrosse League has now raised a total of $100M in total equity funding and is backed by Warren Zeiders, Tony Cavalero, Next 3, Ares Management, and Arctos Sports Partners.
Investors in the round: Ares Management, Bolt Ventures family office, Chris Shumway, David Blitzer, ESPN, FirstTracks Ventures, Glen Powell, Jed Hart, Joseph Tsai, Next 3, Rob McElhenney, Tony Cavalero, Warren Zeiders
Industry: E-Commerce, Retail, Sports
Founders: Michael Rabil, Paul Rabil
Founding year: 2018
Total equity funding raised: $100.0M

9. Taktile $110.0M
Round: Series C
Description: Taktile is an AI decision platform for financial institutions, aiding them in automating and enhancing their risk management strategies. Founded by Dr. Maximilian Eber and Maik Taro Wehmeyer in 2020, Taktile has now raised a total of $188.7M in total equity funding and is backed by Plug and Play, Index Ventures, Balderton Capital, Y Combinator, and Tiger Global Management.
Investors in the round: Balderton Capital, DIG Ventures, Goldman Sachs Alternatives, Index Ventures, Tiger Global Management, Visionaries Club, Y Combinator
Industry: Artificial Intelligence (AI), Enterprise Resource Planning (ERP), Financial Services, Risk Management, Software
Founders: Dr. Maximilian Eber, Maik Taro Wehmeyer
Founding year: 2020
Total equity funding raised: $188.7M

8. LeapXpert $180.0M
Round: Venture
Description: LeapXpert is a business communication platform that provides compliance solutions. Founded by Avi Pardo, Dima Gutzeit, and Rina Charles in 2017, LeapXpert has now raised a total of $222.5M in total equity funding and is backed by Portage Ventures, Rockefeller Capital Management, Riverwood Capital, Lingfeng Capital, and Innovation and Technology Venture Fund.
Investors in the round: Portage Ventures, Riverwood Capital
Industry: B2C, Communications Infrastructure, Compliance, Information and Communications Technology (ICT), Messaging, Software
Founders: Avi Pardo, Dima Gutzeit, Rina Charles
Founding year: 2017
Total equity funding raised: $222.5M

7. Standard Bots $200.0M
Round: Series C
Description: Standard Bots builds industrial robotics systems combining hardware and AI software to automate manufacturing and operations. Founded by David Golden, Evan Beard, and James Cordle in 2015, Standard Bots has now raised a total of $263M in total equity funding and is backed by General Catalyst, BoxGroup, SV Angel, Quiet Capital, and RoboStrategy.
Investors in the round: Amazon Industrial Innovation Fund, BoxGroup, General Catalyst, GiantLeap Capital, RoboStrategy, Sahin Boydas, Samsung NEXT
Industry: Artificial Intelligence (AI), Industrial Automation, Robotics, Software
Founders: David Golden, Evan Beard, James Cordle
Founding year: 2015
Total equity funding raised: $263.0M

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6. General Intuition $320.0M
Round: Series A
Description: General Intuition is a frontier research lab focused on teaching machines to learn and adapt through play. Founded by Moritz Baier-Lentz and Pim de Witte in 2025, General Intuition has now raised a total of $453.7M in total equity funding and is backed by General Catalyst, Khosla Ventures, K5 Global, Chapter One, and The Raine Group.
Investors in the round: Duco van Lanschot, Eric Schmidt, General Catalyst, Hedosophia, Hillspire, Jeff Bezos, Jelle Prins, Khosla Ventures, Michiel Bakker, Nico Rosberg, Sahin Boydas
Industry: Artificial Intelligence (AI), Foundational AI, Generative AI, Machine Learning
Founders: Moritz Baier-Lentz, Pim de Witte
Founding year: 2025
Total equity funding raised: $453.7M

5. AlphaSense $350.0M
Round: Venture
Description: AlphaSense is a platform harnessing AI to deliver insights, helping professionals make informed, impactful decisions. Founded by Jack Kokko and Raj Neervannan in 2008, AlphaSense has now raised a total of $1.7B in total equity funding and is backed by Bond, BlackRock, Citi, Vitruvian Partners, and D. E. Shaw & Co.
Investors in the round: Accenture Ventures, CapitalG, D. E. Shaw & Co., Goldman Sachs Alternatives, J.P. Morgan Asset Management, Pinegrove Opportunity Partners, Viking Global Investors, Vitruvian Partners
Industry: Analytics, Artificial Intelligence (AI), Machine Learning, Market Research, SaaS, Search Engine
Founders: Jack Kokko, Raj Neervannan
Founding year: 2008
Total equity funding raised: $1.7B
AlleyWatch’s exclusive coverage of this round: AlphaSense Raises $350M as Enterprises Shift to AI-Driven Research and Decision-Making Workflows

4. Digital Asset $355.0M
Round: Series F
Description: Digital Asset builds privacy-focused blockchain tools that enable institutions to create, manage, and share tokenized assets. Founded by Don Wilson, Eric Saraniecki, Shaul Kfir, Sunil Hirani, and Yuval Rooz in 2014, Digital Asset has now raised a total of $847.2M in total equity funding and is backed by Alumni Ventures, Citi, Salesforce Ventures, Coinbase Ventures, and a16z crypto.
Investors in the round: 7RIDGE, a16z crypto, ABN AMRO Fund, Abu Dhabi Investment Authority, Alumni Ventures, Apollo Funds, BNP Paribas, Broadridge, Citadel Securities, CME Ventures, Coinbase Ventures, GreenWulf, Hanwha Investment & Securities, HSBC, iCapital, Liberty City Ventures, Optiver, Polychain, R136 Ventures, SBI Group, Smash Capital, SoFi, S&P Global, Tradeweb, William Blair
Industry: Blockchain, Cryptocurrency, Developer Platform, Developer Tools, FinTech, Smart Contracts
Founders: Don Wilson, Eric Saraniecki, Shaul Kfir, Sunil Hirani, Yuval Rooz
Founding year: 2014
Total equity funding raised: $847.2M

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3. Flourish $500.0M
Round: Venture
Description: Flourish Labs combines humans, AI & tech to provide employee coaching and AI-powered peer mental health support. Founded by Vish Sivakumar in 2025, Flourish has now raised a total of $500M in total equity funding and is backed by Lux Capital, Catalio Capital Management, Google Ventures, and Jeff Bezos.
Investors in the round: Catalio Capital Management, Google Ventures, Jeff Bezos, Lux Capital
Industry: Artificial Intelligence (AI), Information Technology, Internet
Founders: Vish Sivakumar
Founding year: 2025
Total equity funding raised: $500.0M

2. Cyera $600.0M
Round: Series G
Description: Cyera is an AI-native data security platform that helps enterprises discover, classify, govern, and protect sensitive data. Founded by Tamar Bar-Ilan, Yonatan Itai, and Yotam Segev in 2021, Cyera has now raised a total of $2.3B in total equity funding and is backed by Temasek, Lightspeed Venture Partners, Accel, Sequoia Capital, and Spark Capital.
Investors in the round: Accel, AT&T, Blackstone Group, Coatue, Cyberstarts, Evolution Equity Partners, Georgian, Greenoaks, Haffiz Bachok, Lightspeed Venture Partners, Redpoint, Sapphire Ventures, Sequoia Capital, Spark Capital, Temasek
Industry: Artificial Intelligence (AI), Cloud Data Services, Compliance, Cyber Security, Data Governance, Identity Management, Network Security
Founders: Tamar Bar-Ilan, Yonatan Itai, Yotam Segev
Founding year: 2021
Total equity funding raised: $2.3B

1. Ramp $750.0M
Round: Series F
Description: Ramp is a financial technology company that develops software for corporate spend management, finance operations, and business payments. Founded by Eric Glyman, Gene Lee, and Karim Atiyeh in 2019, Ramp has now raised a total of $2.9B in total equity funding and is backed by General Catalyst, Lightspeed Venture Partners, BoxGroup, Sequoia Capital, and Founders Fund.
Investors in the round: 137 Ventures, 1789 Capital, 8VC, Alpha Wave Global, Avenir, BoxGroup, BroadLight Capital, Coatue, D1 Capital Partners, Definition, D. E. Shaw & Co., Founders Fund, General Catalyst, Generation Investment Management, GIC, Goldman Sachs Alternatives, ICONIQ Capital, Insight Partners, Khosla Ventures, Lightspeed Venture Partners, Morgan Stanley Investment Management, Ontario Teachers’ Pension Plan, Pinegrove Venture Partners, Sands Capital Ventures, Stripes, Thrive Capital, T. Rowe Price
Industry: Business Process Automation (BPA), Business Travel, Credit Cards, Finance, Financial Services, FinTech
Founders: Eric Glyman, Gene Lee, Karim Atiyeh
Founding year: 2019
Total equity funding raised: $2.9B

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With so much going on in the city’s thriving ecosystem, it is easy to miss some of the happenings in the space. We keep you abreast of the things that you may have missed in NYC Tech News for the week ending 7/4/26 including the NYC startup fundings, NYC startup exits, and NYC startup events featuring news for LeapXpert, Premier Lacrosse League, Nebex, and much, much more.

LeapXpert – $180M

ENTERPRISE

LeapXpert, a governed communication intelligence platform that brings enterprise-grade compliance to consumer messaging channels, has raised $180M in Growth funding led by Riverwood Capital with participation from Portage Ventures. Founded by Dima Gutzeit, Avi Pardo, and Rina Charles in 2017, LeapXpert has now raised a total of $236M in reported equity funding.

Premier Lacrosse League – $100M

Premier Lacrosse League, a men’s professional lacrosse league that operates eight teams across North America, has raised $100M in Series E funding led by Ares and Joe Tsai with participation from ESPN, Glen Powell, Rob Mac, Warren Zeiders, Tony Cavalero, Creator Sports Capital, Next 3, FirstTracks Sports Ventures, Jed Hart, West End Investment Management, James Young, Bolt Ventures, and Chris Shumway. Founded by Paul Rabil and Mike Rabil in 2018, Premier Lacrosse League has now raised a total of $200M in reported equity funding.

Nebex – $30M

FINTECH

Nebex, a financial technology platform that runs a marketplace connecting space companies with government buyers and the investors who finance their deals, has raised $30M in Seed funding led by GV with participation from Eniac Ventures, 2048 Ventures, Better Tomorrow Ventures, Oceans Ventures, AIN Ventures, Also Capital, Anagram, Armory Square Ventures, Multiball Capital, Trajectory Capital, and VSC Ventures. Nebex was founded by Tejpaul Bhatia and Anand Subramanian in 2025.

AlleyWatch broke the news on this round exclusively. Read more →

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Hera – $27M

HEALTHTECH

Hera, a healthtech company that coordinates care for older adults and the families managing their doctors, insurance, and home care, has raised $27M in Series A funding led by Bain Capital Ventures with participation from Accel and IA Ventures. Hera was founded by Jenny Lee and Myles Novick in 2024.

Taxwire – $25M

FINTECH

Taxwire, a global sales tax compliance platform that automates calculations, registrations, and filings for businesses, has raised $25M in Seed and Series A funding from Headline Ventures, XYZ VC, Vinyl, Recall Capital, and Nomo Ventures. Taxwire was founded by Andrew Rea and Steven Schmatz in 2023.

AlleyWatch broke the news on this round exclusively. Read more →

Plastic Labs – $13.3M

AI

Plastic Labs, an AI lab that builds memory and identity infrastructure so AI agents and apps can remember and personalize for each user, has raised $13.3M in funding according to a recent SEC filing. The filing indicates that the total offering is for $15.4M and there were sixteen investors in this close. Plastic Labs was founded by Courtland Leer, Vince Trost, and Vineeth Voruganti in 2023.

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Uniti AI – $11.9M

PROPTECH

Uniti AI, an AI platform that runs sales, support, and leasing conversations for commercial real estate operators, has raised $11.9M in funding according to a recent SEC filing. The filing indicates that the total offering is for $12M and there were sixteen investors in this close. Uniti AI was founded by Francesco Decamilli and Emre Altinok in 2023.

GrailPay – $10.5M

FINTECH

GrailPay, a financial technology company that provides risk and identity infrastructure for bank-to-bank business payments, has raised $10.5M in Series A funding led by MissionOG with participation from EJF Ventures, Counterpart Ventures, Construct Capital, Commerce Ventures, and SSC Venture Partners. Founded by Will Messina and Lee Jones in 2021, GrailPay has now raised a total of $17.2M in reported equity funding.

LineSlip Solutions – $7.3M

INSURTECH

LineSlip Solutions, an insurance technology platform that turns commercial insurance documents into analytics for corporate risk managers, has raised $7.3M in funding according to a recent SEC filing. The filing indicates that the total offering is for $7.76M and there were twenty-six investors in this close. LineSlip Solutions was founded by Leo Bernstein and Robert Keyvani in 2016.

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Eccentric Machines – $5M

AI

Eccentric Machines, a stealth-mode AI startup that has not yet disclosed its product, has raised $5M in funding according to a recent SEC filing. The filing indicates that there were four investors in this round. Eccentric Machines was founded by Yaniv Sarig, Grant Kenji Larsen, and Ashley Covington.

Harri – $3M

ENTERPRISE

Harri, a workforce management platform that helps restaurants and hotels hire, schedule, and retain their staff, has raised $3M in funding according to a recent SEC filing. The filing indicates that the total offering is for $15M. Harri was founded by Luke Fryer in 2012.

Able Made – $2M

Able Made, a soccer-inspired sustainable apparel and accessories company that sells off-pitch soccer-style clothing, has raised $2M in Seed funding from Oregon Sports Angels, Jeff Mostyn, Sara Toussaint, and Mark Hochgesang. Able Made was founded by Suzanne McKenzie in 2012.

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8090 Solutions – $135.0M

Menlo Park-based 8090 Solutions provides an AI-native software development control plane that brings teams and AI agents into one system to define requirements, coordinate execution, and manage software delivery with documentation, oversight, and auditability. Founded by Chamath Palihapitiya and Sina Sojoodi in 2024, 8090 Solutions has now raised a total of $135M in total equity funding and is backed by Abhi Arun, Adam D’Angelo, Cliff Robbins, Craft Ventures, David Friedberg, Jason Calacanis, LAUNCH, Nikesh Arora, Salesforce Ventures, Shyam Ravindran, The Production Board (TPB), Thomas Laffont, and WndrCo.

Aligned – $60.0M

Wilmington-based Aligned provides an AI-powered digital sales room and buyer collaboration workspace that helps B2B sales teams manage deal resources, mutual action plans, stakeholder engagement, and revenue insights. Founded by Gal Aga, Gal Deitsch, and Yotam Sela in 2021, Aligned has now raised a total of $73.8M in total equity funding and is backed by Hetz Ventures, JAL Ventures, NFX, and PeakSpan Capital.

Higharc – $95.0M

Durham-based Higharc provides a homebuilding AI platform that helps builders design homes, configure plans, generate 3D sales visuals, create estimates, and produce permit-ready construction documents. Founded by Marc Minor, Michael Bergin, Peter Boyer, and Thomas Holt in 2018, Higharc has now raised a total of $175M in total equity funding and is backed by Fifth Wall, Insight Partners, Lux Capital, MetaProp, PSP Capital Partners, RXR ARDEN Digital Ventures, SE Ventures, Simpson Strong-Tie Company, Spark Capital, Suffolk Technologies, Triangle Tweener Fund, Vertex Ventures US, and Wellington Management.

Integral Privacy Technologies – $18.0M

San Francisco-based Integral Privacy Technologies provides a privacy layer for AI that transforms sensitive real-world data into compliant, defensible, AI-ready datasets for healthcare, life sciences, analytics, and data teams. Founded by John Kuhn and Shubh Sinha in 2022, Integral Privacy Technologies has now raised a total of $24.9M in total equity funding and is backed by Also Capital, Array Ventures, Caffeinated Capital, Circle & Co, GreatPoint Ventures, Haystack Ventures, LifeX Ventures, LiveRamp Ventures, The General Partnership, Venrex, Virtue Ventures, and WS Investments.

KredosAI – $7.0M

Bellevue-based KredosAI develops AI software that applies behavioral science and personalized communication to optimize payment reminders, customer engagement, and collections workflows. Founded by Balaji Sridharan, Dave Thoms, and David Fetherstonhaugh in 2021, KredosAI has now raised a total of $10.4M in total equity funding and is backed by BMW i Ventures, Motley Fool Ventures, Okapi Venture Capital, SaaS Ventures, StartFast Ventures, Stout Street Capital, and Walter Ventures.

LeapXpert – $180.0M

New York-based LeapXpert provides a compliant business communications platform that lets enterprises capture, govern, and monitor employee conversations across messaging, voice, and collaboration channels. Founded by Avi Pardo, Dima Gutzeit, and Rina Charles in 2017, LeapXpert has now raised a total of $222.5M in total equity funding and is backed by Portage Ventures and Riverwood Capital.

Materna Medical – $5.0M

Mountain View-based Materna Medical develops medical devices focused on protecting and restoring pelvic health for women, including technologies for childbirth-related pelvic floor injury prevention and treatment. Founded by Kerry O’Connor, Mark Juravic, Michael Stewart, and Santiago Ocejo in 2010, Materna Medical has now raised a total of $62.6M in total equity funding and is backed by Band of Angels, InnovaHealth Partners, and Wavemaker 360.

Ognomy Sleep – $20.0M

Buffalo-based Ognomy Sleep provides virtual sleep care through telehealth consultations, home sleep testing, diagnosis, treatment support, and ongoing management for sleep disorders. Founded by Daniel I. Rifkin and Greg Ross in 2021, Ognomy Sleep has now raised a total of $22.8M in total equity funding and is backed by Blue Heron Capital, Catalyst Investors, Excell Partners, Impellent Ventures, Launch NY, University at Buffalo, and Upstate Biotech Ventures.

Omen AI – $31.0M

San Francisco-based Omen AI develops predictive diagnostics software that monitors equipment health through real-time fluid analysis to detect failures and support maintenance decisions. Founded by Zachary Laberge in 2024, Omen AI has now raised a total of $41.5M in total equity funding and is backed by Borusan Ventures, CRV, LMNT Ventures, MANN+HUMMEL, Nava Ventures, Pareto Holdings, Piotr Tomasik, Sheryl Sandberg, and Vanderbilt University.

Oxmiq Labs – $35.0M

Campbell-based Oxmiq Labs develops licensable GPU IP and AI software that helps semiconductor companies build custom AI compute solutions. Founded by Raja Koduri in 2023, Oxmiq Labs has now raised a total of $55M in total equity funding and is backed by AM Intelligence Labs, CDIB -TEN Capital, Darwin Ventures, Farro Capital, Fundomo, Intel Capital, MediaTek, Morgan Creek Digital, Pegatron Venture Capital, Razer, Samsung Catalyst Fund, and Tenstorrent.

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Premier Lacrosse League – $100.0M

New York-based Premier Lacrosse League operates a professional field lacrosse league, managing teams, events, media, ticketing, sponsorships, and fan engagement across the sport. Founded by Michael Rabil and Paul Rabil in 2018, Premier Lacrosse League has now raised a total of $100M in total equity funding and is backed by Ares Management, Bolt Ventures family office, Chris Shumway, David Blitzer, ESPN, FirstTracks Ventures, Glen Powell, Jed Hart, Joseph Tsai, Next 3, Rob McElhenney, Tony Cavalero, and Warren Zeiders.

Proception – $11.0M

Palo Alto-based Proception develops humanoid robotic hands and dexterous manipulation systems designed to improve robotic interaction with physical environments. Founded by Jay Li and Jianxiang Xu in 2024, Proception has now raised a total of $11M in total equity funding and is backed by BoxGroup, First Round Capital, and Y Combinator.

Qolab – $54.2M

Los Angeles-based Qolab develops superconducting quantum computing systems and technologies focused on building scalable, fault-tolerant quantum computers. Founded by Alan Ho, John Martinis, and Robert McDermott in 2022, Qolab has now raised a total of $73.7M in total equity funding and is backed by Octave Ventures LLC, Phoenix Venture Partners, UC Investments, and Wisconsin Alumni Research Foundation.

Queue – $12.6M

Palo Alto-based Queue develops robotic pharmacy automation systems that improve medication dispensing accuracy, efficiency, and inventory workflows for healthcare providers. Founded by Joshua Liu and Nick Desai in 2025, Queue has now raised a total of $18.6M in total equity funding and is backed by AlleyCorp, Banter Capital, Grep VC, House Capital, and Ubiquity Ventures.

Straiker – $64.0M

Sunnyvale-based Straiker develops AI security software that tests, monitors, and protects AI applications by identifying vulnerabilities, threats, and misuse risks. Founded by Ankur Shah and Sreenath Kurupati in 2024, Straiker has now raised a total of $85M in total equity funding and is backed by Bain Capital Ventures, Citi Ventures, Firebolt Ventures, GTM Capital, Illuminate Financial, Lightspeed Venture Partners, Marathon Management Partners, Neva SGR, Rain Capital, Sixty Degree Capital, and Workday Ventures.

Taxwire – $25.0M

New York-based Taxwire provides a sales tax compliance platform that combines automation and managed services for calculation, registration, filing, remittance, and tax operations. Founded by Andrew Rea and Steven Schmatz in 2023, Taxwire has now raised a total of $37.9M in total equity funding and is backed by Analog Ventures, Headline, NOMO Ventures, Recall Capital, Vinyl Capital, and XYZ Venture Capital.
AlleyWatch’s exclusive coverage of this round: Taxwire Raises $25M to Automate Sales Tax Compliance Across 100+ Countries

Together AI – $800.0M

San Francisco-based Together AI provides a cloud platform for building, training, fine-tuning, and deploying open-source and generative AI models at scale. Founded by Ce Zhang, Chris Re, Percy Liang, Tri Dao, and Vipul Ved Prakash in 2022, Together AI has now raised a total of $1.3B in total equity funding and is backed by Aramco Ventures, DTCP, Emergence Capital, General Catalyst, Geodesic Capital, Lux Capital, March Capital, NVIDIA, Pegatron, PSP Capital Partners, Salesforce Ventures, Schneider Electric, S Ventures, and Vista Equity Partners.

Twelve Labs – $100.0M

San Francisco-based Twelve Labs develops multimodal AI models and APIs that help developers understand, search, analyze, and generate insights from video content. Founded by Aiden Lee, Dave Chung, Jae Lee, SJ Kim, and Soyoung Lee in 2021, Twelve Labs has now raised a total of $207.1M in total equity funding and is backed by Amazon, Index Ventures, Korea Investment Partners, Naver Ventures, New Enterprise Associates, Quadrille Capital, Radical Ventures, and Red Bull Ventures.

Venice – $65.0M

Sheridan-based Venice provides a private AI platform for text, image, character, and video generation that emphasizes user privacy and uncensored personal AI interactions. Founded by Erik Voorhees, Jesse Proudman, and Teana Baker-Taylor in 2024, Venice has now raised a total of $65M in total equity funding and is backed by Archetype, Coinbase Ventures, Dragonfly, Founders’ Co-op, F-Prime, Liquid 2 Ventures, Morgan Creek Digital, and North Island Ventures.

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AlleyWatch sat down with Bhatia to learn more about the business, its future plans, recent funding round, and much, much more…

Who were your investors and how much did you raise?

Nebex raised a $30M seed round backed by GV, Eniac Ventures, 2048 Ventures, Better Tomorrow Ventures, Oceans Ventures, AIN Ventures, Also Capital, Anagram, Armory Square Ventures, Multiball Capital, Trajectory Capital, Plum Alley, and VSC Ventures.

Tell us about the product or service that Nebex offers.

Nebex is the commercial backbone of the global space economy. We connect sovereign buyers, commercial space suppliers, and capital through a single exchange. Unlike other industries that have had the financial rails to fund and settle complex transactions, space has not. Nebex is those rails, giving the space economy the same connective foundation every other major industry already relies on.
At a practical level, that means helping governments and space agencies find qualified commercial partners, helping suppliers access demand beyond the small set of incumbents they usually sell to, and helping transactions flow with less friction.
Since its inception, the space industry has run on a closed loop with a handful of legacy contractors building hardware for a handful of government contracts. That model has now been fundamentally upended by increased access to orbit and the space economy’s first real moment as a market.

For founders, Nebex means more time developing and scaling their vision, and less time managing around uneven revenue and cash-flow gaps involved in government contracting. For nations, Nebex means more international and commercial collaboration globally, and less cross-border financial friction. Most important, Nebex ensures that international spend is immediately reinvested in a nation’s own economy.

What inspired the start of Nebex?

I joined the commercial space industry 5 years ago and drove over $1B in net new revenue through international sovereign deals. Through this experience, I saw that there is far more demand for commercial space infrastructure than there is supply. However, this demand is often unmet due to the friction on all sides of the transaction. I saw the opportunity to bring this insight and superpower to bring significantly more revenue to space startups all over the world.

How is Nebex different?

Most companies in space are building hardware to sell within the market. We’re building infrastructure for the market itself. We sit at the intersection of three things that remain fragmented: sovereign demand, commercial supply, and the capital markets. We’re focused on the layer that structures and orchestrates these complex transactions.

What market does Nebex target and how big is it?

We target the commercial layer of the global space economy, specifically the point where sovereign buyers, private space companies, and institutional capital need to transact together.
Various reports predict growth of the space economy into the trillions. We believe these reports are far underestimating the size of the current market and the potential market in the coming years.  However, growth depends on there being a standardized commercial infrastructure that has let industries like energy, aviation, and global trade scale. Nebex is building that commercial infrastructure for space.

What’s your business model?

Nebex is a financial exchange. It connects the right buyers and space suppliers, and helps them transact at the right time by unlocking the capital needed to fulfill the work. We make money when our suppliers make money.

How are you preparing for a potential economic slowdown?

We are building around a problem that becomes even more important in a tougher macro environment.
When markets tighten, buyers care more about efficient supply, suppliers care more about cash flow, and everyone cares more about execution risk. That is especially true in space, where long sales cycles, cross-border complexity, and payment friction can already slow down otherwise viable programs. Nebex encourages economic collaboration, which becomes even more essential in a tight market.
At the same time, we continue to see strong long-term demand signals across the sector. SpaceX helped build the physical rails of the space economy; Nebex is building the commercial rails. It’s a well-capitalized market with plenty of room for growth. As more sovereign buyers enter the market and investors look for what comes next, the need for infrastructure that connects supply, demand, and capital only becomes clearer.

What was the funding process like?

The best conversations were with investors who understood that the next great leap in space won’t be made through engineering; it will be made through business model innovation, which is exactly the mechanism we’re building at Nebex.

We ultimately announced a $30 million seed round led by GV and Eniac Ventures with meaningful participation from great venture funds. This was meaningful for the vision and the market.

What are the biggest challenges that you faced while raising capital?

Our raise was unique in that it was fast and sizable for a seed round. For space founders, the challenge is often pitching a business that aligns with the venture asset class. For fintech founders, the challenge is often finding signals in the noise. As a space fintech, we found a sweet spot that our investors agreed with.

What factors about your business led your investors to write the check?

I think investors wrote the check because they saw a large structural dislocation and opportunity in the space market and a team with firsthand experience solving the underlying problem. They know that the next phase of the space economy needs more than rockets and satellites. It needs market infrastructure. Before Nebex, I helped orchestrate more than $1 billion in commercial space contracts involving sovereign nations, NASA, and SpaceX, so this thesis came directly from operating experience. And our broader team brings together expertise across space, exchanges, company-building, and international government relationships.

What are the milestones you plan to achieve in the next six months?

Our near-term focus is to prove that better market infrastructure can make space transactions easier to execute. That means continuing to build out the platform and expanding the network of sovereign and commercial participants. We’re planning to release a preliminary version of the site later this summer, and a more formal launch by the end of the year.

What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?

My advice to startup founders is always the same for everything: talk to customers all the time. While that may not translate directly to fundraising, it is extremely important to convince investors that you understand your market.

Where do you see the company going now over the near term?

Near term, we are focused on becoming the trusted infrastructure layer for collaboration across the commercial space economy. That means deepening participation across sovereign buyers, suppliers, and capital providers, improving execution and settlement workflows, and reducing the friction that makes cross-border space transactions slower and harder than they should be today.
We believe the future of space will depend not just on better technology, but on better mechanisms for countries and companies to work together.
In other words: The future of this space economy will not just be about rockets, orbital data centers, or space manufacturing; it will be about the business models that bring success.

What’s your favorite summer destination in and around the city?

My favorite thing to do is walk around the city. I enjoy admiring all the different people and their various hustles.

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AlleyWatch sat down with Taxwire CEO and Cofounder Andrew Rea to learn more about the business, its plans for the company, and how they plan to use the new $25M in Seed and Series A funding.

Who were your investors and how much did you raise?

We raised a total of $25M across a Seed and Series A, led by Headline (Taylor Brandt), with Vinyl, Recall Capital, Nomo Ventures, Analog Ventures, and hundreds of angels. What I’m proudest of: every investor in the round was already on our cap table. They had a front-row seat to the business and chose to double down. A lot of the angels are finance leaders and founders who have lived this problem, and many of them are our customers.

Tell us about the product or service that Taxwire offers. 

Taxwire owns sales tax and global VAT for finance teams, end to end.

We pair an AI-native tax engine with a team of tax experts to handle the whole sales tax problem: figuring out where you owe, registering, calculating tax correctly at checkout and on every invoice, managing exemption certificates, filing and remitting in every jurisdiction, and resolving the state notices when they come. You hand us the problem and stop thinking about it.

What inspired the start of Taxwire?

I lived the problem. In 2023 I was running finance at the fastest-growing school lunch company in America. We were scaling fast, selling food into schools across the country, B2B and B2C. It turns out sales tax on that gets complicated quickly, and I was the one who had to figure it out. The incumbents were black boxes, expensive and slow, and I could never get a human on the phone who understood the business. The newer tools were built for founders and small shops and fell apart the moment things got real. So I built what I wished I’d had. 

How is Taxwire different?

Anyone can calculate a tax rate. That part is solved. The hard problem is everything around it: messy transaction data, products that don’t map cleanly to a taxable category, exemption certificates, nexus that shifts every time you grow, a notice that lands during close. Most tools assume the inputs are clean and the edge cases are rare. In indirect tax, the edge cases are the job. We take accountability for the outcome, audit and all, instead of handing you a dashboard and walking away. And we own the switch off legacy platforms. We’ve done that migration 150+ times.

What market does Taxwire target and how big is it?

We build for mid-market finance teams, roughly $20M to $500M in revenue, the companies with real complexity and lean teams. The market is enormous and unavoidable. Around $600 billion in sales tax is collected in the US every year, roughly $5 trillion in VAT globally, and indirect tax is 30 to 40% of all the tax remitted on earth. Every company that sells across state or national lines has to deal with it, and it only gets bigger.

What’s your business model?

We charge for the outcome. Customers pay a predictable usage subscription for the platform plus our managed service.

How are you preparing for a potential economic slowdown?

The honest answer is that a slowdown makes Taxwire more important, not less. When budgets tighten, states lean harder on sales tax to fund their own recovery, and they get more aggressive about auditing and chasing businesses that aren’t compliant. So the cost of getting this wrong goes up exactly when companies can least afford it. At the same time, a lot of what we do is recover money customers overpaid and keep them out of penalties, which matters more when every dollar counts. It’s a fairly counter-cyclical place to sit. 

What was the funding process like?

Relatively simple, and I don’t say that to be glib. We’ve been fortunate to have great investors who believed in us from the very beginning, and the business had strong fundamentals and real momentum. Because everyone in the round was already on our cap table, this was existing investors doubling down with conviction rather than a process of convincing strangers.

What factors about your business led your investors to write the check?

Customers. The clearest signal in our business is that companies trust us with something that can genuinely hurt them if we get it wrong, and they stay, refer us, and give us more. About half of our new customers come from leaving a legacy provider. We remit around $100 million in sales tax a year already. Our investors had visibility into all of that, and into a team that takes the trust seriously. In the end they backed a product customers love in a market that has to exist.

What are the milestones you plan to achieve in the next six months?

The focus is winning the B2B experience. Three things specifically: expanding our international coverage aggressively, going deeper across B2B industries, and owning the workflow between the general ledger and the sales tax provider, which is where most of the real pain and manual work still lives.

What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?

Focus on customers. Go talk to them, and go talk to the people who could be your customers. Investors want to back a product that customers genuinely love and that can also be a venture-scale business. The business model and the opportunity all matter, but what matters more than anything is simple:

• Are customers using your product?
• Are customers speaking highly of it?
• Is your calendar full of current or potential customers who want to keep paying you for it?

Get those right and the capital tends to follow. 

Where do you see the company going now over the near term? 

We’re building the infrastructure that powers every dollar of sales tax and VAT collected. Today we remit about $100 million a year. That’s a rounding error against the size of the problem. Near term we go deeper and wider, more industries, more countries, more of the finance workflow, so that any company can hand us indirect tax and never think about it again. This is a trust business, and we intend to earn it.

What’s your favorite summer destination in and around the city?

Chinatown for a great meal : )

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