# New York, San Francisco, Toronto

**Published by:** [Brandon Donnelly](https://brandondonnelly.com/)
**Published on:** 2017-02-17
**Categories:** funding, new-york, san-francisco, startup, tech-startup, toronto, uncategorized, union-square-ventures, venture-capital, waterloo
**URL:** https://brandondonnelly.com/new-york%2C-san-francisco%2C-toronto

## Content

Yesterday it was announced (here, here, and here) that Toronto-based Top Hat has raised $22.5 million (USD) in Series-C funding. The round was led by New York-based Union Square Ventures. I am always excited to see Toronto-based startups doing well and I am particularly excited by this remark in USV’s blog announcement:“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: “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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