Companies are making waves on the LA tech scene with venture funding rounds big and small. Read more to find out what these startups are planning. This is the Built In LA weekly refresh.
Orca Security got $210M. Having just closed on a CapitalG-led series C round, Orca is newly established as a cybersecurity unicorn. It’s seen significant growth over the past year for its platform that alerts customers to potential risks straightaway after scanning their assets. Now, it’s planning to triple the size of its R&D and sales teams by the end of 2021. [Built In LA]
ABL Space Systems raised $170M. The El Segundo-based small launch vehicle developer just closed on a Series B round led by T. Rowe Price Associates. The company is currently working to launch its RS1 vehicle as early as Q2 of this year. Fidelity Management & Research joined existing investors in the round, which brings the company’s valuation to $1.3 billion. [SpaceNews]
LA Tech Quote of the Week
ServiceTitan raised $500M. With its software that allows the leaders of HVAC companies to track their employees’ customer service, ServiceTitan is looking to grow its team in departments like engineering, marketing and project management. The round was led by Tiger Global and Sequoia. To date, the company’s valuation is $8.3 billion. [Built In LA]
AppliedVR raised $29M. This Series A funding round will help the company pursue FDA approval for its virtual reality-based treatments for chronic pain. The company is also prepping for a market launch and building its body of clinical trial evidence supporting the use of its technology. Participants in the round included F-Prime Capital, JAZZ Venture Partners and Cedars-Sinai. [BusinessWire]
Frost Giant Studios pulled in $5M. Kona Venture Partners and Global Founders Capital led the video game developer’s most recent funding round. Founded by industry vets Tim Campbell and Tim Morten, the company is using the fresh cash to welcome James Anhalt, formerly of Starcraft II, to its team. Anhalt will oversee Frost Giant’s engineering initiatives as it expands the audience of RTS games. [Built In LA]
Health Pleasure Group launched a VC fund. As the company focuses on sexual health and technology, its new fund, Amboy Street Ventures, will go toward startups in the sexual health (for all genders) as well as women’s health tech industries. So far it has invested in Dame Products, a women’s sexual wellness brand and Gennev, a platform for women in menopause. [PR Newswire]
Counterpart secured $10M. The startup offers automated insurance solutions that enable SMBs to get coverage. Counterpart’s latest raise was led by Valor Equity Partners. The company foresees a digital revolution in the insurance industry and is pursuing the opportunity to make an impact within the management liability space. [TechCrunch]
