A handful of LA-based tech companies closed out September by raising new rounds of funding. Collectively, the top five companies raised almost a quarter billion dollars. Here are the details on those rounds.
#5, $35 million, September 12
What they do: Panoramic has created a platform that uses AI to help companies analyze their marketing data.
The funding: With the $35 million Panoramic has officially exited stealth mode. The company plans to sign more partnerships, build on its existing analytics technology and grow in existing markets.
#4, $40M
What it does: Not sure if your restaurant chain will do well in a new market? Kitchen United creates commercial kitchen centers that restaurant brands can use to cook foods for delivery in new locations. A single kitchen center can house 10-15 restaurant brands and lets restaurants cater to new markets without the cost of opening a brand new location.
The funding: The $40 million Series B will help Kitchen United open up restaurant centers in New York City, as well as Chicago, Los Angeles, San Francisco and Boston.
#2 (tied), $50 million, September 30
What they do: Dave builds mobile banking tools to help people budget and avoid overdraft fees. People also use Dave as an overdraft-free checking account.
The funding: This $50 million investment comes just four months after the company raised $110 million to scale its banking feature. It plans to use the new funding to expand its product and engineering team over the next year.
#2 (tied), $50 million, September 18
What it does: PlayVS creates e-sports leagues for high schools. It’s partnered with the NFHS — the regulatory body behind high school sport competitions — in order to make its leagues officially recognized.
The funding: The $50 million Series C brings the company’s total funding to $96 million over 13 months. The company wants to use the money to hire more employees and expand its product offering.
#1, $70M
What it does: Happy Money’s platform works as a virtual financial coach, using behavioral psychology to promote healthy financial habits like saving money and paying off debts.
The funding: Happy Money raised a $70 million Series D in order to partner with more financial institutions. The Series D brings Happy Money’s total funding to over $140 million.
