NYC Betting Exchange Novig Hiring After $75M Raise

The latest funding round for Novig, led by crypto-focused Pantera Capital, values the company at $500 million and brings their total capital raised to over $105 million. This infusion of cash is earmarked for a significant hiring push and marketing efforts as Novig pivots from a sweepstakes model to a federally regulated prediction market, pending CFTC approval. The company aims to compete with prediction market heavyweights like Kalshi and Polymarket, which have recently achieved multi-billion dollar valuations. Novig was founded in 2021 by two recent Harvard graduates, Jacob Fortinsky (CEO) and Kelechi Ukah (CTO), who were frustrated by the inefficiencies and discriminatory practices of traditional sportsbooks. Their platform operates as a peer-to-peer exchange, eliminating the "vig" or the house's cut, which they claim makes users up to 10 times more likely to win in the long run. After participating in Y Combinator's Summer 2022 batch, Novig has seen its trading volume grow more than tenfold in 2025, reaching an annualized platform volume of $4 billion. The NYC tech scene, where Novig is based, is experiencing a surge in demand for specialized engineering talent, particularly in AI and fintech. Companies like Ramp, Databricks, and OpenAI are actively hiring engineers with experience in AI, machine learning, and data infrastructure. This trend is fueled by a renewed flow of venture capital into the city, with a strong focus on AI-native startups. Several New York-based VC firms, including Union Square Ventures and Lux Capital, are actively funding early-stage AI companies. For engineers looking to build on the side, a number of AI agent frameworks have gained traction, simplifying the development of autonomous agents. LangChain remains a popular choice for its modularity, while CrewAI is favored for orchestrating multiple agents. For those focused on building production-ready applications, Vellum offers a unified platform with built-in governance and observability. These tools are becoming essential for rapidly prototyping and deploying AI-powered products. The vertical SaaS market is also seeing a shift towards deeply specialized, AI-native platforms that automate entire industry-specific workflows. This creates opportunities for developers to build "micro-SaaS" businesses that address niche pain points within sectors like healthcare, logistics, and legal services. Investor interest in vertical SaaS remains strong, with a focus on companies that can demonstrate a clear path to owning critical workflows within their target industry. For consumer and social apps, the focus in 2026 is on AI-driven personalization and seamless in-app purchasing experiences. User acquisition strategies are moving away from broad, install-focused campaigns towards retaining high-value users through privacy-first attribution and engagement-focused metrics. Successful bootstrapping stories in NYC, like those of CB Insights and MyClean, highlight the importance of being revenue-funded and laser-focused on solving customer problems from day one. Managing a side project while employed requires disciplined time management and ruthless prioritization. Successful indie hackers often recommend time-blocking, breaking down large tasks into "tiny milestones," and automating personal tasks to free up valuable coding time. Setting strict deadlines and holding oneself accountable for progress are crucial for maintaining momentum and turning a side project into a viable business.