# New York, San Francisco, Toronto

By [Brandon Donnelly](https://brandondonnelly.com) · 2017-02-17

funding, new-york, san-francisco, startup, tech-startup, toronto, uncategorized, union-square-ventures, venture-capital, waterloo

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Yesterday it was announced ([here](http://www.theglobeandmail.com/technology/toronto-tech-firm-targeting-college-textbook-market-scores-financing/article34038786/), [here](https://blog.tophat.com/textbook-solutions-series-c-funding/), and [here](https://www.usv.com/blog/top-hat)) that Toronto-based [Top Hat](https://tophat.com/) has raised $22.5 million (USD) in Series-C funding. The round was led by New York-based [Union Square Ventures](https://www.usv.com/).

I am always excited to see Toronto-based startups doing well and I am particularly excited by this remark in [USV’s blog announcement](https://www.usv.com/blog/top-hat):

> _“Also worth noting is that Toronto continues to impress us with its quality and diversity of companies. We now have five investments there, placing Toronto third as a location in the USV portfolio after New York and San Francisco.”_

Here is another quote from [Fred Wilson’s blog](http://avc.com/2017/02/tophat-and-toronto/):  

> _“Toronto is a great place for startups. In addition to five investments of ours that are HQ’d there, I know of at least one other USV portfolio company that has much of their engineering team in Toronto. The talent, mindset, and quality of the people in the Toronto/Waterloo tech/startup community is really top notch and we love investing there.”_

Go Toronto. 

(Of course, Toronto really means Toronto-Waterloo. That’s the geography of the ecosystem.)

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*Originally published on [Brandon Donnelly](https://brandondonnelly.com/new-york,-san-francisco,-toronto)*