The LA tech scene came alive last month with a number of venture rounds for startups across a wide range of industries. From adtech to e-commerce and more, check out what the LA companies that raised the largest rounds in May are planning to do with the funding.
#5. $65 million, May 3
Based in Venice, the startup has worked with musical talent like Rihanna, Cardi B and Justin Bieber to create digital avatars to promote their work. After a BOND-led Series B, the company is looking to launch a beta version of its platform, allowing users to customize the hair style, body type, clothing and accessories for their digital doppelgangers. It’s also expanding its marketplace network and plans to grow its team past 100 people.
#4. $75 million, May 19
Working in the adtech space, this company’s platform provides tools to help advertisers and publishers optimize their data. VideoAmp pulled in $50 million in debt financing from Capital IP Investment Partners LLC, and it plans to raise $25 million more. With the capital, VideoAmp is investing in its team, hiring across client services and engineering with plans to double its 200-person headcount this year.
#3. $130 million, May 20
With its “buy now, pay later” software solution, Sunbit helps brands provide their customers with an easier way to afford their purchases. The fintech company is valued at $1.1 billion after its Series D round led by Group 11. Currently available in 7,300 retailers across the country, Sunbit is planning to invest in expanding into additional retail markets with the fresh capital.
#2. $277 million, May 6
Currently serving about 15,000 online merchants, like Oakley, Harry’s and Fiji Water, with its subscription billing service, ReCharge is planning to build out its team across engineering and product following a year of growth. The company is valued at $2.1 billion following its first round of growth funding and is looking to further its go-to-market functions across several departments.
#1. $550 million, May 4
This Irvine-based company provides digital content creators with the infrastructure to monetize their projects with a subscription-based service. Having doubled its headcount last year, Kajabi is looking to further that growth momentum following its latest mega-round led by Tiger Global. It’s hiring across departments including engineering, product and marketing as it works toward international expansion.
