Tech:NYC Quarterly Snapshot
Q2 2025 — Q3 2025
Concentrated Capital, Expanding AI, & Sustained Resilience
New York City’s tech ecosystem remains one of the most dynamic in the nation, even as national deal activity slows and capital concentrates around artificial intelligence. In Q2 and Q3 2025, NYC companies raised roughly $15.8 billion across 947 deals, down from about $16.2 billion across 1,186 deals during the same period in 2024. This mirrors a national trend reported by CB Insights. Investors are investing in fewer venture deals but writing significantly larger check, especially in AI. Analysts warn this pattern could signal the start of an AI bubble. Yet New York stands apart with a diversified tech economy spanning FinTech, HealthTech, enterprise software, and urban innovation, providing stability as AI drives outsized growth.
In Q2 and Q3 2025, landmark raises underscore this momentum. We’ve entered the decacorn era, in which companies valued at and above $10 billion are decacorns. Ramp’s $500 million Series E2 and $23.2 billion valuation, and Bilt Rewards’ $250 million round and $10.5 billion elevated both companies into the decacorn tier. These deals exemplify New York’s ability to produce category-defining startups even amid tighter liquidity.
At the same time, the public markets reopened for NYC-based innovators. Via Transportation’s $493 million IPO on the NYSE and Gemini’s planned $317 million Nasdaq debut signal renewed investor appetite for scaled tech exits. Together, they demonstrate that New York’s capital ecosystem, public and private, remains highly active even as national venture activity compresses.
The city’s labor market reflects this strength. Tech:NYC tracked 10,595 new tech job postings and 211,800 tech jobs in NYC as of June 2025. Across 398 companies, 3,671 jobs were posted through Tech:NYC’s jobs board, underscoring the sector’s continued resilience and on-the-ground demand for technical talent.
New York’s trajectory makes clear that while national venture flows grow increasingly concentrated around AI, the city’s economy is built on both AI excellence and diversified innovation, ensuring long-term growth even as market cycles shift.
NY CSA Month -Over-Month: Total Deal Volume & Total Capital Deployed
* Data Pulled from Q3 Pitchbook NVCA Venture Monitor Report
Leading Verticals in NY (Q2 2025 -Q3 2025)
141 deals
172 deals
Investors are still financing fewer deals but writing larger checks. Funding levels in NYC remained stable through Q3 2025 despite national pullbacks. The total capital raised by startups tracked closely to 2024 levels, while deal volume declined slightly, suggesting a market shift toward larger, more concentrated rounds, especially in AI and FinTech.
Month-Over-Month US VC Deal Volume
Biggest Deals in NYC Q2 2025 - Q3 2025
85 % of U.S. equity funding went to AI in Q3 2025. We continued to see mega‑rounds that have created a new tier, birthing the decacorn. Startups like Ramp, Cognition, and Bilt Rewards are setting new benchmarks for valuation and growth, joining the global decacorn class. Their success signals New York’s maturing ability to generate $10B+ enterprises that compete with Silicon Valley’s elite.
NYC’s pipeline remains active across multiple sectors, as AI innovators such as Reflection AI ($1B raise) and Elise AI ($250M raise), FinTech disruptors like Kalshi ($185M raise), and cybersecurity innovators like Cyera ($540M raise) raise multimillion-dollar rounds. These accomplishments reflect sustained investor belief in the city’s next generation of growth-stage startups.
*Some other notable deals.
Tech Job Postings
According to CompTia, which analyzes the Beaureau of Labor Statitics and Lightcast data, the New York Metro Area ranked #2 nationally with 10,595 active tech job postings in August 2025, trailing only Washington DC’s 11,285. Although postings fell by about 2,200 from July, the city still outperformed other major metros like Dallas and San Jose, reflecting its deep and diversified demand for IT, AI, and software roles. This resilience underscores NYC’s continued strength as a leading tech labor market despite national slowdowns in hiring
Tech:NYC’s homegrown jobs board hosted 3,671 unique tech job postings as of September 2025. Our job’s board includes early-stage companies sourcing competitive talent across several indsutries in the tech sector! From January - May of 2025 we tracked all the jobs in our membership network including remote talent, but as of June 2025 we scaled down to track only in-person jobs, to get a numerical sense of NYC’s physcal labor force!
AI: An Engine for Growth
AI continues to drive the city’s innovation narrative. Executive leaders report strong optimism around AI adoption as a transformative force for efficiency, competitiveness, and growth. While national trends suggest risk of an AI bubble, New York’s foundation in diversified tech sectors positions it for sustainable expansion.
IPO Spotlights
NYC scored two IPO Exits in Q3 2025!
Via Transportation’s IPO raised about $493 million at a $46-per-share price, valuing the company at roughly $3.65 billion, as it debuted on the New York Stock Exchange under ticker “VIA”.
Gemini raised $425 million at $28 per share, exceeding its initial projected range of $25, on September 11, 2025. The offering values the company at $4.4 billion, with the Nasdaq contributing a $50 million strategic investment. Trading under the ticker “GEMI”, Gemini’s IPO marks a significant milestone in its expansion into public markets and reflects growing institutional interest in cryptocurrency.
The State of AI Jobs
*The term “AI Job” refers to a job posting that requires AI skills. The data visualized in the following three graphs was pulled from the University of Maryland’s AI Tool Maps, which uses an LLM to differentiate jobs requiring AI skills from those requiring other non-AI-specific skills.
*UPDATE: AI Maps Model 2.0, released in October 2025 that their researchers trained a newer open-source LLM that achieves 99.6% accuracy and classifies only about half as many “AI jobs” as Model 1.0, correcting roughly 50% false positives. Despite this stricter standard, both models track nearly identically over time (≈0.98 correlation), confirming that all prior trend analyses remain valid.
AI-TO-IT JOBS INTENSITY
The AI-to-IT Jobs Intensity is a snapshot of how much of today’s tech hiring is focused on AI talent. It represents the count of all the brand‑new job ads explicitly looking for AI skills, divided by all the new postings requiring traditional tech roles like software engineers or IT support.
New York’s sustained ~20% intensity tells that one out of every 5th new tech job postings requires AI-related skills.
In 2024 there were 25,337 unique job postings in the five boroughs seeking candidates with specific AI-focused skills. As of September 2025 there have been 1,316 new AI job postings. Industry researchers project that AI will transform the world of work, and NYC is already proving to be the engine behind that transformation.
NEW AI JOBS (MSA Comparison)