Ramp's $1.9B Series G Led NYC's Top 10 October Funding Rounds

Ramp raised $1.9 billion in a Series G, the largest of New York City's ten biggest startup funding rounds in October 2026, according to AlleyWatch's proprietary funding data. The corporate spend-management company founded by Eric Glyman, Gene Lee, and Karim Atiyeh in 2019 has now raised $4.7 billion in total equity funding.

The round drew a heavyweight syndicate: Dragoneer Investment Group, Thrive Capital, Founders Fund, 1789 Capital, 8VC, Alpha Wave Global, Capital Group, Coatue, D1 Capital Partners, D. E. Shaw & Co., Fidelity, General Catalyst, GIC, ICONIQ Capital, Khosla Ventures, Lightspeed Venture Partners, Ontario Teachers' Pension Plan, T. Rowe Price, and others participated.

Prediction-market operator Kalshi took second place with a $1 billion Series G. Founded by Luana Lopes Lara and Tarek Mansour in 2018, Kalshi has raised $3.8 billion to date. Morgan Stanley Investment Management, Balyasny Asset Management, Wellington Management, Hudson River Trading, Andreessen Horowitz, Sequoia Capital, Baillie Gifford, CapitalG, Stripes, and Coatue backed the round.

Together, the top ten rounds totaled roughly $3.4 billion. AI and fintech dominated the list — a pattern worth watching as both categories keep absorbing the lion's share of late-stage capital in the city.

Who else made the top ten?

Modal Labs — $750M Series D. The serverless cloud infrastructure platform for machine learning and data workloads, founded by Akshat Bubna and Erik Bernhardsson in 2021, has raised $1.2 billion total. Bain Capital Ventures, General Catalyst, Kleiner Perkins, Menlo Ventures, Lux Capital, Redpoint, and Accel invested.

Whop — $200M Series D. The digital-products marketplace, founded by Cameron Zoub, Jack Sharkey, and Steven Schwartz in 2021, has raised $478 million. Shopify Ventures and Sequoia Capital funded the round.

Valon — $150M Series D. The mortgage-servicing software maker, founded by Andrew Wang, Eric Chiang, Jonathan Hsu, and Linda Du in 2019, has raised $347.1 million. Andreessen Horowitz and Ribbit Capital led the check.

Capitolis — $120M Series E. The capital-markets technology firm, founded by Gil Mandelzis, Igor Teleshevsky, and Thomas Glocer in 2017, has raised $457.8 million. Its investor list reads like a bank roster: Bank of America, State Street, BNP Paribas, JP Morgan, Tradeweb, Barclays, Nomura, Citi, UBS, First Citizens Innovation Banking, Hercules Capital, and Pinegrove Venture Partners.

TriGemX Bio — $94M venture round. The gut-brain biology drug developer, founded in 2015 by Alex Rives, Charles Zuker, Nancy Thornberry, Richard Axel, and Thomas Maniatis, has raised $581.2 million. Viking Global Investors, The Column Group, and TCG Crossover backed it.

Daytona — $60M Series B. The cloud infrastructure for running AI-generated code in isolated environments, founded by Goran Draganic, Ivan Burazin, and Vedran Jukic in 2023, has raised $91 million. The cap table includes Patrick Collison, Tobi Lutke, Eric Yuan, Adam D'Angelo, Aravind Srinivas, Olivier Pomel, Qualcomm Ventures, Samsung NEXT, and Okta Ventures.

North.cloud — $60M Series B. The cloud and AI spending-optimization platform, founded by Matt Biringer and Yassine Açoine in 2023, has raised $67.6 million. Alpaca VC, Companyon Ventures, Gaingels, Litquidity Ventures, Mana Ventures, PeakSpan Capital, and Uncommon Denominator invested.

Stuut — $52.5M Series B. The AI-powered order-to-cash automation platform, founded by Ben Winter, Miraj Mohsin, and Tarek Alaruri in 2024, has raised $88 million. Activant Capital, Andreessen Horowitz, Insight Partners, M12 — Microsoft's venture fund — and SignalRank funded it.

Ultra — $50M Series A. The warehouse-robotics company automating order packaging, sorting, and kitting, founded by Chetan Parthiban, Jonathan Schwartz, Max Friefeld, and Oliver Ortlieb in 2024, has raised $62 million. Framework Ventures and Y Combinator led.

What does the month's data signal?

The composition tells a clear story. Nine of the ten companies sit in AI, fintech, or cloud infrastructure; TriGemX Bio is the lone biotech outlier. Operator-angels — Patrick Collison, Tobi Lutke, Eric Yuan — are showing up directly on AI infrastructure cap tables. And young companies are moving fast: Stuut and Ultra, both founded in 2024, have already cleared $50 million rounds.

Late-stage checks also clustered tightly. Ramp and Kalshi, both at Series G, absorbed roughly $2.9 billion of the roughly $3.4 billion total — meaning the remaining eight companies split about $500 million. New York's October was, in short, a mega-round month built on two fintech giants.