New York: Show Me The Money


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advertising startups anymore, but also leaders in other rapidly growing categories, such as mobile, e-commerce, financial services, and media:

Advertising: AdKeeper, Admeld, AppNexus, Peer39, Pontiflex

Education: Flat World Knowledge, Knewton, 2tor

Financial Services: FolioDynamix, SecondMarket

Mobile: Foursquare, GroupMe

Next-Gen E-commerce: Etsy, Gilt Groupe, Ideeli, Lot18, OpenSky

New Media: Business Insider, BuzzFeed, Huffington Post, Sulia

Publishing/Tools: Aviary, Squarespace, Tumblr, Wix

Video:, Boxee, Simulmedia, Tremor Media

Most importantly, investors from across the country, particularly those from Silicon Valley, are investing piles of cash into NYC startups and are spending significant time in our city looking for new deals.

• In 2009, the top 25 funding rounds for venture-backed startups in NYC totaled $394 million. In 2010, the top 25 funding rounds totaled $583 million.

• In 2009, six of the top 25 rounds for NYC startups were led by Silicon Valley-based VCs and totaled $115 million. In 2010, 17 of the top 25 rounds were led by Silicon Valley-based VCs and totaled $415 million.

That last figure is amazing – a tripling of investment dollars in just one year – and a great sign for the continued development and growth of the NYC tech scene. Much of that $415 million, which might have been invested elsewhere, can now be used to fund the development of new products and services here and the hiring of talented people in NYC.

And 2011 is off to a fast start, as well, with several significant funding announcements so far. There is a lot of work ahead of us to keep this momentum going.

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Warren Lee is a venture partner with Canaan Partners in New York, focusing on investments in digital media companies. Follow @

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