Known widely as a hub for entertainment, LA is home to tech developers innovating the music sector, payment industry and more. Several tech companies pulled in ample funding last month for their digital solutions. Check out what the LA companies with March’s heftiest VC sums are building in gaming, media and other industries.
Largest LA Funding Rounds, March 2023
- Gamma
- Macro
- Chaos Industries
- Rain
- The Believer Company
#5. $55 million, March 7
Co-founded by the creative minds behind the League of Legends franchise, The Believer Company is expanding its team following a $55 million funding round. The game development studio plans to create a next-generation open world focused on a new intellectual property. Its Series A capital from lead investor Lightspeed Venture Partners will help Believer grow its team to 50 people within a year.
#4. $66 million, March 21
In an effort to help consumers access their earned wages before payday, Rain launched a financial wellness solution that lets employers offer hourly workers an “income streaming” benefit. Rain currently operates across all major U.S. markets and plans to expand its presence even further with a fresh $116 million raise. This sum includes a $66 million Series A, as well as a $50 million debt facility.
#3. $70 million, March 6
Defense tech company Chaos Industries pulled in Series A capital from investors including 8VC. Working on a new solution that encompasses sensor, detection and radar capabilities, Chaos wants to shield the country against the rising competition in artificial intelligence, machine learning and advanced manufacturing technologies, according to the company’s co-founder John Tenet.
#2. $90 million, March 6
Multimedia company MACRO operates several businesses including a film studio, a TV studio, a creative agency and a firm targeting digital media creators. Equipped with $90 million in fresh capital from BlackRock Alternatives and others, MACRO wants to expand its operations across its existing verticals and fuel additional growth initiatives.
#1. $1 billion, March 8
Having pulled in a ten-digit round for the music and media industry, gamma strives to help artists create, distribute and monetize their content and brand. The company has $1 billion in capital from investors Eldridge, Apple and A24. Gamma offers its users resources and capabilities to help them develop their businesses as artists.
