How did LA tech do during the dog days? Here are the top 5 funding rounds of July

by John Siegel
August 1, 2016
The days seem longer during the summer, and while most just do their best to avoid the heat, there were some significant deals made, though most of them were overshadowed by the acquisition of Dollar Shave Club. Heading into August, with school and football getting ready to pick-up again, let's take a look at the top rounds of funding in what proved to be a slow July.
 

5. Hutch, $5M, July 6

Investors: Sean Rad, Scooter and Yael Braun, Ben Silverman, among others.

Bio: Homee is an app that allows users to decorate a space, chat with a personal designer and actually visualize what objects would look like in a certain area.

News: The West Hollywood-based company announced the launch of its furniture and home design app earlier this month, as well as a $5 million Series A funding. The company also announced the addition of Rad and Stephen Oskoui of Founders Fund, which led the round, would be joining the company's board of directors.

 

4. Cloudvirga, $7.5M, July 28

Investors: Dallas Capital with participation from Upfront Ventures and Tribeca Angels.

Bio: Cloudvirga is the developer of intelligent Mortgage Platform (iMP), a system designed to streamline the process of buying a home.

News: The Irvine-based company plans to use the round of funding to continue to scale its enterprise platform in the cloud and add to its staff.

 

3. Thoughtful Media Group, $14.3 million, July 5

Investors: Gazette and independent investors

Bio: Thoughtful Media Group has developed multiple YouTube channels that operate around the world. 

News: The Sherman Oaks-based company announced nothing in early-July, instead opting for a rather stealthy round of funding that saw them gain almost $14.5 million. According to the Los Angeles Times, the Series B funding will go towards the company's increasing focus on emerging markets.

2. NextVR, $14.3 million, July 5

Investors: Guoan

Bio: NextVR allows for the transmission of live, long-form virtual reality content in broadcast quality.

News: The Laguna Hills-based virtual reality broadcaster plans to use the round to expand its business and improve its channel development and optimization of live virtual reality projects.

1. Scopely, $55 million, July 26

Investors: Greycroft Growth Fund led the round, Elephant Partners, Evolution Media Partners, Highland Capital, Sands Capital Ventures and Take-Two Interactive. 

Bio: Scopely is a leading mobile game developer based in Culver City.

News: The company took home the unofficial "biggest round of funding" prize this month with a huge $55 Million Series B funding. The developer of mobile smash hits The Walking Dead: Road to Survival and YAHTZEE With Buddies plans to continue to develop their flagship franchises, while moving forward with other projects.

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