While venture funding in Tinseltown last month may have been down from March’s total, LA tech innovators certainly haven’t slowed their pace. Companies across various industries are making advancements to their tech after April funding raises, and two secured nine-digit rounds. Check out which names are growing with coffers full of fresh cash.
Largest LA Funding Rounds, April 2023
- TORL BioTherapeutics
- Altruist
- Radiant Industries
- Prism
- Nativo
- Community
#5 (tied). $25 million, April 24
Co-founded by actor Ashton Kutcher, talent manager Guy Oseary and entrepreneur Josh Rosenheck, Community is a messaging platform that works to connect high-profile personalities like political figures, musicians and businesses to their audiences at scale. The company raised $25 million in funding from investors like Salesforce Ventures to fuel generative AI enhancements to its product this year.
#5 (tied). $25 million, April 18
Capital IP provided adtech platform Nativo up to $25 million in structured capital. Nativo provides digital advertising solutions that leverage machine learning, artificial intelligence and branded content to connect brands with their ideal audiences. The new capital will help Nativo further its position in the automated content distribution space.
#4. $26 million, April 6
Prism launched its lending platform with the help of financing from investors including Pantera Capital and Human Capital. LA startup Prism offers employees of private tech companies the option to borrow capital against their company’s equity for personal uses, like putting a down payment on a home. Prism’s latest funding is a combination of seed and Series A capital.
#3. $40 million, April 24
As people search for new ways to make the planet healthier, Radiant Industries is working on a zero-emissions power source that will ideally function anywhere. The company’s microreactor solution Kaleidos has commercial and military applications, and its Series B funding will fuel the full-scale development of this device. Led by Andreessen Horowitz, the capital will also help Radiant expand its team and facilities ahead of future engineering initiatives.
#2. $112 million, April 12
Serving registered investment advisors, Altruist operates an asset custody solution that combines a self-clearing brokerage firm with software tools for account opening, trading, reporting and billing. The company raised a Series D funding round led by Insight Partners that brings its total funding to more than $290 million. Altruist will put the capital toward expanding and developing its service offerings.
#1. $158 million, April 13
Having announced its official launch alongside a raise of Series B funding, TORL BioTherapeutics plans to develop novel, antibody-based therapeutics for cancer patients. The company plans to advance its clinical and preclinical stage programs with its $158 million funding round led by Goldman Sachs.
