Last week was a profitable time for startups in the LA tech space. Read more to learn which companies received new venture funding. This is the Built In LA weekly refresh.
Longeve Brands raised $5M. Based in Irvine, this company engineers healthy plant-based protein options. The seed funding round was co-led by Wavemaker Partners and Springboard Ventures and will enable the startup to market new products, accelerate growth and expand into retail and food service. [GlobeNewswire]
Arca pulled in $10M. The asset management firm announced the close of its Series A on Thursday. The new capital will help Arca develop necessary infrastructure and navigate the legal and regulatory footing it needs to improve its offering of digital products. The round was led by RRE Ventures. [Coindesk]
LA Tech Quote of the Week
Outer pulled in $10.5M. After a significant YoY increase in sales, the outdoor furniture brand announced the close of its Series A as it prepares for more growth. The round was led by Sequoia Capital China and will allow Outer to continue research and development for its sustainable outdoor furniture products as well as hire new team members in marketing, operations and sales. [Built In LA]
Brace secured $15.7M. The company’s online platform works to help mortgage servicers protect themselves from financial losses incurred from delinquent borrowers. Its Series B round was led by Canvas Ventures and will go toward improving its products and expanding its service offerings. Brace is also hiring across its engineering, operations and product teams. [Built In LA]
Nacelle raised $18M. This e-commerce company is anticipating growth this year with plans to increase its headcount to approximately 80 people. Nacelle’s “headless” platform allows online retailers to build their marketplace sites. The Series A round was led by Inovia Capital and will enable the company’s hiring push as well as fund building its product functionality. [Built In LA]
Ace Metrix acquired by iSpot.tv. El Segundo-based Ace Metrix offers a creative assessment tool geared toward TV and video ads. The goal of the acquisition is to provide a single-source solution for advertisers looking to accurately assess metrics like brand impact and audience reach. [MediaPost]
Blu Digital Group got new funding. The Series A round, led by Green Bay Ventures and NEA’s Dick Kramlich, totaled several million dollars. The company specializes in digital media services and plans to use the fresh cash to hire essential executive team members, accelerate its growth in software development and further its expansion into the entertainment industry. [PR Web]
