The Real Deal New York

Two New York start-ups receive venture capital for new offices

Smartling and Tinybop both received money to relocate

May 22, 2014 06:10PM

From left: 1375 Broadway in Manhattan and 540 Atlantic Avenue in Brooklyn

From left: 1375 Broadway in Manhattan and 540 Atlantic Avenue in Brooklyn

Two technology start ups have received funding to move their operations to new locales.

Translation platform Smartling is moving from lower Park Avenue to Broadway and 37th Street, in June, where it will occupy 22,000 square feet.

Tinybop, a children’s media company, announced Thursday that it has raised $5 million in a Series A fundraising round led by RRE Ventures. Tinybop, currently located in Dumbo, will move to a 6,000 square foot space in Boerum Hill at 540 Atlantic Avenue. 

For both start ups, the relocation means a huge step up in space and both companies have said they plan to hire more people that will fill their new offices.

Smartling, in a Series C round of fundraising raised $24 million and reportedly hasn’t spent much yet. In an interview with Crain’s, the company’s CEO Jack Welde said that the cash at hand provides  “an opportunity to be a little more aggressive and take more” of the $35 billion online translation market, he said in an interview. Smartling received its funding in a round led by ICONIQ Capital, a global merchant bank based in San Francisco. [Crain's] – Claire Moses

 

 

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