LA welcomed in the summer with yet another big month of funding. Despite a typically slow time of year, LA startups scored big, with the top six rounds combining for $317.78 million.
Investors: WPP Ventures, Institutional Venture Partners and Advancit Capital.
News: The funding will go to scale its coverage of news, sports, and entertainment.
Investors: Sterling.VC, Downey Ventures, Time Inc., Breakwater Investment Management, Upfront Ventures.
Bio: Loot Crate is a monthly subscription service aimed at fans who embrace a geeky lifestyle.
News: The funding is an indication that the company is expanding its subscription plans, and working to personalize what users receive each month.
Bio: The Virtual Reality Company is the brainchild of two-time Academy Award-winning director and visual effects maven Robert Stromberg. The startup was responsible for The Martian VR, a 20-minute interactive and fully immersive journey created for the 20th Century Fox Innovation Lab.
News: The company plans on using the funds to produce additional original virtual reality content.
3. Payoff, $47.76 million, June 17
Investors: Tencent Holdings
Bio: Costa Mesa-based Payoff helps users pay off credit card debt.
News: Over time, the company hopes to build its content and financial personality quizzes to evolve into a wealth management service.
Investors: Iconiq Capital.
News: The company plans to use the funds to expand sales, marketing and engineering programs.
Investors: Invus, Cross Culture Ventures, e.ventures and Greycroft Partners.
Bio: The company offers a wide selection of healthy food for a $60 a year membership, allowing access to organic products at better prices than stores like Whole Foods.
News: The round will help the company create new branded goods, as well as expand the startup's marketing efforts.
Images via Facebook
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