In Q3, Los Angeles digital startups raised over $283 million, keeping up the funding pace from the first half of the year. Edgecast Networks and JustFab contributed largely to that number with $54 million and $40 million deals, respectively.
Our community welcomed 46 new startups this quarter and congratulated three on acquisitions: DermStore, MySocialCloud and 12 Society. Overall, 56 companies were funded, with 34 of them raising over $1 million. Congratulations to our thriving LA tech community! We look forward to seeing increased funding and new innovative companies in the last quarter of this year.