Seven of the last 8 quarters have topped $1B in funding for New York’s startups. Exits are also on the rise.

New York is one of the top markets for tech funding in the United States, with local startups raising over $20B across 3,800 deals since 2009. Deal activity has increased every year since 2009, reaching 890 deals in 2014. Funding is on track to reach a 7-year high in 2015, with over $3.8B in funding already this year.

On a quarterly basis, 7 of the last 8 quarters have topped $1B in total funding for New York tech startups. Deal activity has kept pace, with 9 of the last 10 quarters topping 200 deals. The last four quarters, including Q2’15, saw a combined $6.7B in funding, 49% more than the previous four quarters. Overall, 2014 deals and dollars have grown 305% and 483%, respectively, versus 2009.

*The chart above shows deals and dollars through June 5, 2015

NY-based tech exits have also picked up, as 2014 saw the highest exit total of the past six years. The exits have largely been driven by M&A. However, 2014 did reach a six-year high for IPOs with five, including those of OnDeck Capital, Varonis Systems, and others.

There has been at least one New York-based, VC-backed tech exit at a $1B+ valuation in each of the past three years. Etsy’s IPO in April 2015 at a valuation of $1.7B was the largest ever for a VC-backed New York-based tech company. OnDeck Capital went public in 2014. Tumblr was acquired by Yahoo for $1.1B in 2013.

When it comes to activity, no VC has been more active in New York’s tech scene than Lerer Hippeau Ventures. LHV has invested in over 100 New York-based tech companies since 2009, including notable investments in BuzzFeed and Warby Parker. SV Angel and BoxGroup rounded out the top 3 rankings with investments in over 70 New York-based tech companies each since 2009.

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