Text IQ's $12 million financing tops recent funding news in New York

Text IQ's $12 million financing tops recent funding news in New YorkPhoto: Helloquence/Unsplash
Hoodline
Published on June 24, 2019

New York-based compliance company Text IQ has secured $12 million in Series A funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced June 18 and was led by FirstMark Capital.

According to its Crunchbase profile, "Text IQ uses AI technology to prevent high-stakes legal and compliance disasters, with customers including Fortune 200 companies, government agencies and tech giants. The company's proprietary software is able to efficiently and meticulously analyze big data in order to better identify sensitive, compromising and privileged documents, and it's supported some of the most high-profile litigation and government investigations in recent news."

The five-year-old startup has raised two previous funding rounds, including a $3 million Series A round in 2016.

The round brings total funding raised by New York companies in science and engineering over the past month to $52 million. The local science and engineering industry has produced 196 funding rounds over the past year, securing a total of $3.2 billion in venture funding.

In other local funding news, hospital company VirtualHealth announced a Series B funding round on June 18, financed by Edison Partners.

According to Crunchbase, "VirtualHealth’s HELIOS solution is the first comprehensive care management platform purpose-built to power the entire ecosystem of value-based care. Utilized by some of the most innovative health plans in the country to manage millions of members, HELIOS streamlines person-centered care with intelligent case and disease management workflows, unmatched data integration, broad-spectrum collaboration, patient engagement and configurable analytics and reporting."

Founded in 2012, the company has raised two previous rounds, including a $7 million Series B round in 2017.


This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.