A bustling week on the LA tech scene yielded plenty of new developments and company growth initiatives. With all their fresh funding, find out what these startups have planned next. This is the Built In LA weekly refresh.
VideoAmp secured $75M. Its adtech platform helps marketers better reach audiences in today’s streaming-centric entertainment space. Capital IP Investment Partners LLC supplied the fresh capital that enables VideoAmp to double its 200-person headcount. It’s currently hiring within its client services and engineering departments. The company also announced its new CFO, Paul Ross, formerly of Trade Desk. [Built In LA]
Sunbit got $130M. Helping out consumers looking to make purchases without big upfront costs is “buy now, pay later” platform Sunbit. It uses machine learning tech to create personalized payment plans for customers. With its Series D round of funding, Sunbit is valued at $1.1 billion. Now, the unicorn is looking to grow its team and expand its retail footprint into new markets. [Built In LA]
LA Tech Quote of the Week
Tea Drops pulled in $5M. Offering customers an eco-friendly alternative to bagged teas, this startup announced the close of its Series A round led by BrandProject. Its tablets, made of compressed tea leaves, dissolve in water like a bath bomb. The funding enables Tea Drops to grow its brand into retail and expand its team across several departments. [Built In LA]
Daring got $40M. Providing a vegan alternative to the popular protein chicken, Daring raised its latest round of funding from investors including D1 Capital Partners and rapper Drake. It plans to invest the money in tripling the size of its team and growing its presence in retail stores. To date, the startup has raised $48.8 million in funding. [Built In LA]
ProducePay raised $43M. The online ag marketplace just closed a Series C round co-led by G2VP, the International Finance Corporation (IFC) and IDB Invest. The company tailors its platform toward helping growers access services like financing, plus market data and pricing analytics. It also connects producers with suppliers and distributors via its ProducePay Preferred Network. [AgFunder News]
Altruist pulled in $50M. Its platform serves financial advisors with tools that streamline certain investment operations and enable them to serve customers at a lower price. The company announced the closure of its Series B funding round led by Insight Partners, and the new capital will help it to expand its product portfolio, enhance its operations and grow its team. [Built In LA]
Coiled secured $21M. With $26 million in venture funding to date, Coiled closed on its Series A round led by Bessemer Venture Partners. The data and AI company provides a platform that works to help enterprises with scalable computing. It also announced the launch of its Coiled Cloud product that enables data scientists to build machine learning models. [Venture Beat]
Britive raised $10M. Planning to double its 40-person team over the next year, Britive raised a Series A led by Crosslink Capital. Its platform works to automate the process of granting permissions across several cloud vendors and software services. The raise follows the company’s seed round announced back in September. [TechCrunch]
