In 2018, Israel-Linked Companies in New York Generated $18.6 Billion in Revenue
From 2009 to 2018, 436 Israeli-founded companies opened and maintained offices in New York State, according to a new report by the New York–Israel Business Alliance
Israel-linked companies are making quite a dent in the New York tech ecosystem, according to the findings of a study released Tuesday by the New York–Israel Business Alliance. According to the study, Israel-linked companies in New York State generated $18.6 billion in revenue in 2018 and directly employed 24,850 people in the state.
The study found that from 2009 to 2018, 436 Israeli-founded companies opened and maintained offices in New York State. From 2014 to 2016, Israel-linked companies secured $3.5 billion in venture capital funding and in 2016 were responsible for more than 20% of the total capital raised in New York State, according to the report.
The State of New York is home to five Israel-linked companies valued at $1 billion or more: real estate company Compass Inc., online insurer Lemonade Inc., online payment company Payoneer Inc., online advertising and content distribution company Taboola.com Ltd., and coworking company the We Company, formerly known as WeWork.
New York. Photo: Bloomberg