Tala, The Boring Company and AppOnboard announce major fundings
Three local tech companies collectively raised more than $190 million in a 24-hour period earlier this week, adding to what had been until then a relatively slow month for tech fundraising.
Santa Monica-based Tala closed a $50 million Series C — also adding $15 million to boost its loan book — as the company gears up for expansion to Mexico and India. Elon Musk pumped more than $100 million into his latest tech company, Hawthorne-based The Boring Company, which continues to work with municipalities around the U.S. to dig more tunnels. Rounding out the big day for funding, Brentwood-based adtech startup AppOnboard, officially closed its $15 million Series A after a stellar few months for the company's video game demo platform. [Built In LA]
TheWaveVR lands $6 million after "Ready Player One" collaboration, opens LA office
Following a successful collaboration with Warner Bros. for a scene in the smash hit "Ready Player One," TheWaveVR, an Austin-based virtual reality studio, announced it had closed a $6 million Series A this morning. In addition to the funding announcement, the company officially opened its Los Angeles office to allow future collaborations with local artists and musicians. Founded in 2016, the company develops a virtual platform for VR music and visual arts experiences. [Built In Austin]
Bridg makes its first acquisition, purchases Relevant Mobile
Bridg, an adtech startup that helps local businesses understand their customers better, acquired point-of-sale app Relevant Mobile earlier this week for an undisclosed sum. As a part of the deal — which is still pending — Relevant Mobile co-founders Gerrine Pan and Dazhi Chen will remain in leadership positions and continue to head their team in developing new products. Founded in 2012, Bridg has raised $11 million to date and is looking to add a number of different roles to its team. [Fast Casual]
Gem launches all-in-one cryptocurrency management platform
This morning, Gem, a veteran blockchain startup headquartered in Venice, launched an all-encompassing cryptocurrency management platform. The platform will provide users a dashboard to view and control their digital assets, a secure universal wallet and timely information regarding tokens. Additionally, the new platform offers users social media tools to become more involved in the broader cryptocurrency community. [Gem]
General Assembly acquired by Adecco Group
General Assembly, the NYC-based education startup that helps professionals kickstart their new careers in the tech world, was acquired by Swiss-based staffing agency Adecco Group for $413 million this week. Founded in 2011, General Assembly currently operates 20 campuses in the U.S. — two of which are in LA — and had raised just shy of $120 million since launching. [TechCrunch]
Docupace adds tech veteran as CEO
LA-based enterprise document management and workflow solutions developer Docupace announced the addition of tech veteran Mark Tapling as CEO this week. With over 20 years of CEO experience, Tapling will focus his efforts on implementing the company's business strategy and deploying new processes as the company continues to grow. [Press Release]
