With the first four months of 2018 officially on the books, the marked jump in funds raised by local tech companies year-over-year no longer looks like a reaction to a new fiscal year. Rather, it seems an indicator of the trust investors are placing in the market. In April 2017, tech companies raised just over $100 million. A year later, companies collectively brought in just shy of $420 million — a 309 percent jump.
Here’s who raised the most this April.
5. $15 million, April 17
AdColony co-founder Jonathan Zweig’s latest startup AppOnboard revealed a $15 million Series A in April to help mobile game developers acquire and retain users in an increasingly crowded market. Led by Korea Investment Partners (KIP) with participation from Mirae Asset Management, Mantaray, MTG, Runa Capital and existing investors, the capital will allow the company to hire for a number of open tech positions. [Built In LA]
4. $29.5 million, April 5
El Segundo-based real estate startup PeerStreet closed a $29.5 million investment and announced plans to hire aggressively, capitalizing on a steller 2017. The Series B was led by World Innovation Lab, and included participation from existing investors Andreessen Horowitz, Thomvest, Colchis Capital and Felicis Ventures, as well as new investors Solon Mack and Navitas Capital. [Built In LA]
3. $40 million, April 17
After eight years in operation, enterprise software developer Saviynt pulled the trigger on a $40 million Series A, it’s only publicly documented funding to date. The company, which builds a suite of governance and intelligence solutions, tapped Carrick Capital Partners to lead the round, which will allow the company to expand internationally and develop new products. [Built In LA]
2. $65 million, April 17
Santa Monica-based fintech startup Tala announced two separate fundings mid-month, a $50 million Series C led by Revolution Growth, and a $15 million debt financing to help the company bolster its loan book. Additionally, the company announced it will be launching its microloan platform in Mexico and India. Recently, Built In LA spoke with CTO Johnny Lee about what excited him enough about the company to leave Apple and move to Southern California. [Built In LA]
1. $113 million, April 16
Elon Musk’s latest tech venture The Boring Company added $113 in funding — much of which came from the serial entrepreneur himself — as the buzz surrounding the company mounts. Founded at the end of 2016, the company was named to Built In LA's 50 Startups to Watch in 2018 in January after the company revealed detailed plans to bring a new transportation network to most of LA County (also, flamethrowers). [Built In LA]
