Waves of venture funding splashed over the West Coast last week with several companies getting fresh cash to work toward their goals. Check out what’s in store. This is the Built In LA weekly refresh.
Maestro got $15M. The online streaming platform has seen huge growth since the start of the pandemic. After increasing its revenue and headcount last year, Maestro announced the close of its Series B funding round from investors including NetEase, Sony Music Entertainment and Acronym Venture Capital. It plans to put the cash toward expanding its core product and growing its team. [Built In LA]
Red6 raised $7M. This Santa Monica-based firm specializes in simulated air combat training in the interest of national security. It secured the funding from a round led by Red Cell Partners. Its tech is a modular system that uses AR in a pilot’s helmet to provide training scenarios against AI-powered enemies. Red6 is putting the capital toward its investor base and leveraging its core tech across military and commercial applications. [PR Newswire]
LA Tech Quote of the Week
Theorycraft Games pulled in $37.5M. Founded by big-name execs in the gaming industry from Riot Games, Bungie, Blizzard and Valve Software, video game startup Theorycraft launched out of stealth mode with Series A funding led by NetEase. The company is planning to expand its team with open roles in engineering, design and more. [Built In LA]
Blend got $10M. This company’s AI-based translation platform helps brands localize their business offerings depending on local context, culture and consumer behavior. Fortissimo Capital led the funding round that will allow Blend to continue pursuing global growth and expanding its product. [PR Newswire]
Whatnot secured $20M. Its online marketplace for collectibles integrates live streaming capabilities for users. Whatnot focuses on items like Pokémon cards and Funko Pop figurines. As it’s looking to expand into over 100 categories of collectible items and toys, the company raised its Series A round led by Andreessen Horowitz. [TechCrunch]
Parabol pulled in $8M. As the world transitions into remote work as the new norm, Parabol is looking to make sure that distance doesn’t hinder team collaborations with its digital meeting software. With the Series A funding led by M12, Parabol is aiming to meet customer demand for more meeting tools and add new enterprise features. It’s also currently hiring for fully remote positions. [Built In LA]
Dave donates $50K to Feeding America. The past few weeks have been rough for Texans combating challenges brought on by severe winter weather. With over a tenth of its customer base in Texas, LA-based fintech company Dave is giving back and looking to make a difference. About 73 percent of Dave’s customers have been using its platform to pay for essentials such as gas and groceries during the storms, now it’s looking to provide further support by donating money to Feeding America. [Business Wire]
URB-E raised $5M, named new CEO. The company offers a compact container delivery network that is aiming to disrupt the last-mile delivery space for retailers. Its pedal-powered technology is said to reduce emissions and increase the efficiency of deliveries, and this Series A round was led by UBS Group. Additionally, entrepreneur Charles Jolley is joining URB-E as its new CEO. [AgFunder News]
Whitman joins InStride board. InStride, a provider of strategic enterprise education programs targeted at employers, announced last week that former eBay and Hewlett-Packard CEO Meg Whitman is joining its advisory board. Additional board members include former executives from Ford Motor Company, Citibank, the Walt Disney Company and others. [Business Wire]
