LA tech startups bounced back from a quiet month for fundraising in April with a big May. June, however, proved to be even more successful than May, with local tech companies raising a combined $356.3 million in 30 days. Here are the top five rounds.
5. KEYPR, $19 million, June 20
Investors: Karlani Capital, former Starwood Hotels & Resorts President of Global Development Simon Turner, and former CEO of Bally Technologies, Richard Haddrill
Bio: KEYPR develops a cloud-based guest experience and management platform for the hotel industry.
News: KEYPR closed its Series A1 round by adding $12.8 million, bringing its total to $19 million. The company plans to use the money to further research and development on its platform, in addition to continuing to scale operations.
4. Beyond Limits, $20 million, June 7
Investors: BP Ventures
Bio: Beyond Limits is a Pasadena-based artificial intelligence and cognitive computing startup. The company develops industrial-grade AI software that allows entities like NASA to combine human knowledge with machine learning to do things like, you know, explore outer space.
News: Founded in 2012 by a group of NASA veterans, the company plans to use the money to develop AI software designed to focus on industrial and enterprise challenges here on planet Earth.
3. FloQast, $25 million, June 21
Investors: Insight Venture Partners, Toba Capital and Polaris Partner
Bio: Headquartered in Sherman Oaks, FloQast develops software designed to help businesses streamline their accounting efforts.
News: Following a year that saw the team add a number of big-name clients, the startup finalized its $25 million Series B, bringing its total raised to $33 million to date. Additionally, CEO Michael Whitmire announced plans to expand internationally, in addition to growing its product portfolio.
2. Scopely, $60 million, June 15
Investors: Revolution Growth, Greenspring Associates, Sands Capital Ventures, Cross Creek Advisors and Pritzker Group Venture Capital
Bio: Scopely is a Culver City-based startup that publishes a wide variety of mobile video games.
News: Less than a year after closing its Series B, the startup announced it had closed a $60 million Series C. Led by Revolution Growth, which is run by a handful of former AOL executives, the round will be used to add talent and continue to produce quality content.
1. Clutter, $64 million, June 13
Investors: Atomico, with participation from Sequoia (which led the startup's Series A and B rounds), and new investors GV and Fifth Wall
Bio: Also based in Culver City, Clutter is a storage company that helps customers streamline one of life’s greatest nuisances: moving.
News: Just four years old, Clutter’s $64 million Series C brings the amount raised to date to nearly $100 million. In addition to the influx of cash, the company also announced that it had expanded operations to Chicago, making the Windy City the seventh major city the company operates in.
Images via social media and Shutterstock.
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