Coming off of the Memorial Day weekend, LA companies rang in summer with a slew of new developments. From fresh funding to a revamped company image, check out what’s happening in the West Coast tech scene. This is the Built In LA Weekly Refresh.
Bonfire Ventures pulled in $230M. Keeping an eye out for B2B software companies, VC firm Bonfire makes seed-stage investments. It just raised money for capital commitments for its two new funds: a third seed fund totaling $168 million and a second opportunity fund consisting of $63 million. Bonfire tends to invest in about 25 to 30 startups per fund. [TechCrunch]
Tripp raised $11.2M. Combining a mobile app with augmented and virtual reality, Tripp operates a suite of metaverse-based meditation solutions. The company also announced its acquisition of world-building platform Eden, a move that will help users connect while exploring artworks and soundscapes. Tripp’s funding from Bitkraft Ventures, Amazon Alexa Fund and others will go toward meeting increased demand for its platform. [VentureBeat]
LA tech quote of the week
Digiphy pulled in $1.5M. Offering a contextual marketing solution, Digiphy helps brands tell their products’ stories directly from the packaging. By scanning a QR code, shoppers get detailed content about the product while the company itself gets useful consumer data. Digiphy’s new funding round from investors like Gaingels and M13 will go toward launching its solution. [Built In LA]
Guild Education reached a $4.4B valuation. With a $175 million Series F round, Guild Education is now valued at $4.4 billion. The Series F round, which was led by Wellington Management with participation from Oprah Winfrey and others, comes one year after the company raised a $150 million round. Based in Colorado with a presence in NYC, Chicago, San Francisco and Los Angeles, Guild Education partners with employees to offer education-based benefits and is currently hiring for more than 30 roles. [Denver Business Journal]
Telesign rebranded. Geared toward helping enterprise customers connect, protect and defend their digital identities, Telesign announced its new brand identity, consisting of a new logo, iconography, graphics and mission statement. The move drives home Telesign’s mission of creating solutions that make it easier for its companies to build trusted experiences, while simultaneously enabling users to feel safe and secure in the digital world. [Telesign]
