These 5 LA tech companies raised May's largest rounds

June 4, 2018

In another stellar month for tech fundraising, local startups collectively raised more than $380 million in May — with the top five rounds accounting for $231 million alone. Here are the top fundings from last month.

 

Rival los angeles movie ticketing company
photo via Shutterstock

5. $30 million, May 4

Former Ticketmaster CEO Nathan Hubbard is back on the LA tech scene after spending a few years in a leadership role at Twitter. His latest venture, Playa Vista-based ticketing startup Rival, emerged from stealth early in the month, revealing a $30 million round of funding from several big-name investors. Andreessen Horowitz and Upfront Ventures led the round, which also saw participation from Slack CPO April Underwood, Twitter CEO Dick Costolo and Stripe co-founders Patrick and John Collison. [Built In LA]

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soothe on-demand massage startup los angeles las vegas
photo via soothe

4. $31 million, May 2

On-demand massage startup Soothe's $31 million Series C at the outset of the month came with some interesting logistic moves for the five-year-old startup. In addition to co-founder Merlin Kauffman stepping down as CEO, to be replaced by CFO Simon Heyrick, the company announced it would be moving its headquarters to Las Vegas — though it will maintain its LA presence. [Built In LA]

 

acorns fintech startup orange county los angeles
photo via built in la

2. $50 million, May 9

Acorns, which allows users to invest spare change automatically to a diversified portfolio managed by professionals, quietly raised $50 million in funding in May to build out its portfolio stack with new investment options. The Irvine-based company chose financial planning and investment management firm BlackRock to lead the round. [Built In LA]

 

cloudvirga orange county real estate software startup
photo via cloudvirga

2. $50 million, May 16

Cloudvirga, a real estate tech startup that offers a digital mortgage point-of-sale software, closed a big Series C, bringing in $50 million in a round led by Riverwood Capital that also saw participation from Upfront Ventures. Since launching in mid-2016, the Irvine-based company has raised $77 million in funding. [Press Release]

 

muzik los angeles e-commerce startup luxury headphones
photo via shutterstock

1. $70 million, May 4

West Hollywood-based consumer electronic brand Muzik made waves in early May, closing a $60 million round of funding from a star-studded cast of inventors. Contributing to the round were Francois-Henri Pinault, Michael Jordan, Ndamukong Suh, Drake, Kevin Hart and Tony Robbins, all of whom will act as brand ambassadors. [Built In LA]

 

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