It’s no surprise that LA raised hundreds of millions of dollars in tech investments last month. Here are the six local tech startups that brought in the largest rounds in October, a month that brought a marked increase in tech funding to the City of Angels when compared to September’s total.
#6. $100 million, October 6
The insurtech company based out of Santa Monica raised $100 million in fresh financing in a round co-led by Declaration Partners and Kinnevik. Sure works to provide businesses with tools to build their own embedded insurance products. The company also plans to keep its hiring momentum going with the latest funding.
#5. $145 million, October 14
Tala is another fintech company that aims to change the banking system. The company provides loans to small business owners and consumers and also creates an alternative credit score using phone data, such as how often a user pays their bill. With the funding, Tala hopes to add a crypto offering to its suite of financial tools geared toward underbanked populations around the world. The Series E was led by Upstart, and Stellar Development Foundation participated.
#4. $150 million, October 20
The El Segundo-based real estate company’s AI-enabled platform is used to streamline document submissions and speed up the closing process. EndPoint’s latest funding round was led by First American Financial Corp., the startup’s parent company. The fresh capital will be used to further develop its automation tools and expand its tech team.
#3. $200 million, October 27
LA-based Skyryse raised $200 million in a massive Series B round which will go toward the development of its flight automation system, FlightOS. Skyryse is also partnering with five of the world’s largest fixed wing and rotorcraft original equipment manufacturers (OEMs). The goal is to make the most automated vehicles available on the market, on either land or in the sky. The round was co-led by Fidelity Management & Research Company and Monashee Investment Management.
#2. $200 million, October 25
El Segundo-based ABL just raised $200 million in new funding bringing its valuation up to $2.4 billion. The additional funding is an extension of its $170 million Series B announced in the spring. The small launch vehicle developer will use the funding to scale up production of its RS1 vehicle. The company is currently preparing for its RS1 launch.
#1. $275 million, October 21
The LA-based media measurement platform is now valued at $1.4 billion following its Series F round led by Spruce House Partnership. VideoAmp links viewer data to an advertiser’s sales, and has been experiencing rapid growth to both its headcount and business. The company aims to provide advertisers with media currency and works with media companies like ViacomCBS.
