Enterprise tech in New York City has had a robust 2020 so far with companies in the Big Apple seeing a noticeable increase in funding compared to 2019.

NYC-based early-stage enterprise VC Work-Bench found that more than $2.7 billion was invested across 95 deals in the first half of 2020. This marks a 29 percent increase year-on-year from H1 2019 when $1.9 billion was invested across 52 deals.

Q2 saw increased activity over Q1 as the sector seemed generally immune from the impact of the market froth in March and April. Q1 saw about $1.3 billion invested across 44 deals and Q2 saw $1.5 billion invested across 51 deals.

This year looks likely to surpass 2019’s totals of $3.3 billion invested across 114 deals. Some of this activity is driven by a substantial number of deals over $50 million, 19 total, which made up 20 percent of the overall deal count.

The sector saw six megarounds in H1 which makes up 5 percent of the 106 megarounds in the enterprise sector in the US in the first half of the year, according to the recent report from PitchBook and the National Venture Capital Association (NVCA).

AI customer service platform company ASAPP grabbed a $185 million Series B round in May. The company raised money from VCs, including Emergence Capital, March Capital Partners and Euclidean Capital, among others.

Not all the deals in the sector were large or in the later stages either. Series A round saw the most activity grabbing 31.6 percent of the deals, 30. Seed and Series B followed each grabbing 21.1 percent.

However, the market is showing signs that it’s maturing. Series D saw 11.6 percent of the deals so far in 2020, up from 3.6 percent in 2014.

Enterprise tech in New York City has continued its momentum into Q3 with multiple deals closing in the first few weeks of H2.

In July, cybersecurity infrastructure company Curv raised a $23 million Series A from investors CommerzVentures, Coinbase Ventures and Team8, among others.

Also in July, autonomous breach protection company Cynet raised an $18 million Series B round. Deutsched Telekom’s Telekom Innovation Pool led the round and was joined by investors BlueRed Partners and Merlin International, among others.

More than $23.6 billion has been invested across 603 enterprise tech deals in NYC since the beginning of 2014.