For the third year in a row, at least 20 local startups have attracted growth-oriented financing from private sources. In 2019, the cumulative amount of money raised has already eclipsed $220 million, enabling companies to hire engineers, customer service reps, sales personnel and business executives.
The success of ACV Auctions speaks to entrepreneurs worldwide and shouts that the history and spirit of innovation is alive and well, right here in Western New York.
Buffalo has its first confirmed unicorn. Only this one isn’t a horse with a horn on its head. It’s a privately held startup company that has achieved a rare benchmark of being valued by investors at $1 billion or more.
ACV Auctions has raised the largest round of venture capital in the history of Buffalo-based companies, making it the region’s first software unicorn, according to a company announcement Tuesday evening.
43North portfolio company ACV Auctions has raised a $150 million Series E round of financing at a valuation of greater than $1.5 billion, making it Buffalo’s first tech unicorn.
In 2006, Feld co-founded Techstars, which has built a presence around the world working with startups, including in Buffalo, in partnership with 43North.
Fifteen companies are in the hunt for $4.5 million in prize money that will be awarded by 43North on Wednesday.
CleanFiber has raised $5 million in private funding to expand its manufacturing capacity and expand its sales efforts.
43North revealed today the 16 finalists for its annual competition, funded by New York state. The nonprofit will ultimately invest $5 million into the eight companies, which will give up a 5 percent ownership stake and pledge to operate from Buffalo for a year.
43North promises to stage a glitzier show at Shea’s on Oct. 30 when startups compete for a $1 million grand prize.
CleanFiber, a maker of high-performance building insulation with a plant in Blasdell, won $250,000 in the 76West Clean Energy Competition.
43North is relocating its headquarters to Seneca One, officials announced today. With the support of a $1.5 million grant from Empire State Development, 43North will become the latest addition to a new tech hub that Douglas Development is creating in the building.