New York-based consumer and insurance company Rhino has secured $21 million in Series A funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced Oct. 1 and led by Kairos.
According to its Crunchbase profile, "In the midst of the housing affordability crisis, Rhino is charging into the real estate space to unlock over $190 billion in cash security deposits. We are building products, like our affordable insurance policy, to put money back in renters' pockets."
The three-year-old startup has raised two previous funding rounds, including a convertible note round in 2018.
The round brings total funding raised by New York companies in financial services over the past month to $550 million, an increase of $447 million from the month before. The local financial services industry has produced 249 funding rounds over the past year, yielding a total of $5.2 billion in venture funding.
In other local funding news, venture capital and agriculture company iAnthus announced a $20 million post IPO debt funding round on Oct. 1, financed by Gotham Green Partners.
According to Crunchbase, "iAnthus Capital Holdings, Inc., through its wholly-owned subsidiary iAnthus Capital Management, LLC, provides investors diversified exposure to best-in-class licensed cannabis cultivators, processors and dispensaries throughout the United States."
Founded in 2014, the company has raised three previous rounds, including a $50 million post IPO debt round earlier this year.
Meanwhile, identity management and cybersecurity company HYPR raised $18 million in Series B funding, announced on Oct. 1. The round's investors were led by Comcast Ventures.
From the company's Crunchbase profile, "HYPR is the leading provider of true passwordless security with millions of users deployed across the global 2000. Shared secrets are the #1 cause of enterprise breaches, fraud and phishing attacks. HYPR is the first authentication platform designed to eliminate passwords and shared secrets — effectively removing the hackers’ primary target while eliminating fraud, phishing and credential reuse for consumers and employees across the enterprise."
HYPR last raised $10 million in Series A funding in 2017.
Also of note, tech company Team Labs (Teampay) raised $12 million in Series A funding, announced on Sept. 26 and led by Tribe Capital.
From Crunchbase, "Teampay is reinventing the corporate card, delivering smart purchasing for empowered teams. Teampay is the first purchasing software built for modern, technology-enabled businesses. Our products enable companies to request, approve and track employee spending in real-time."
The company previously raised $4 million in seed funding in 2018.
Rounding out the city's recent top local funding events, gaming and ios company Rune raised $2 million in seed funding, announced on Oct. 2 and led by Makers Fund.
From Crunchbase, "Rune is an automated friend or squad finder and voice chat for players on mobile games. Users can hang out and share amazing experiences together."
The company previously raised $150,000 in seed funding earlier this year.