Tech startups on the West Coast are full of fresh ideas and are raising new funding to fuel their growth. From edtech to real estate, learn how these companies are changing the game. This is the Built In LA weekly refresh.
FloQast raised $110M. After a Series D raise, the workflow automation company is one of the latest unicorns on the LA tech scene. Using AI, the software helps streamline certain tasks and enables users to better prioritize tasks. FloQast is investing in product innovation and development, growing its partnerships and customer base as well as hiring new team members. Meritech Capital led the round. [Built In LA]
Rivian raised another $2.5B. Some six months after pulling in a nearly identical round of capital, the Irvine-based electric vehicle manufacturer has pulled in another titanic round of new funding from Amazon’s Climate Pledge Fund, D1 Capital Partners, Ford Motor and more. The company has now raised a total of about $10.5 billion as it looks to begin rolling out its vehicles later this year. [TechCrunch]
LA Tech Quote of the Week
RentSpree secured $8M. Offering a platform that provides real estate agents, owners and property managers with tools for tasks like screening tenants and receiving rental reports, RentSpree is growing after its 645 Ventures-led Series A funding round. It’s investing the new capital in building out its tech platform and hiring across software engineering, product and more. [Built In LA]
Taboola acquired Connexity. After going public via SPAC last month, Taboola is acquiring martech company Connexity in an $800 million deal. Taboola focuses on content recommendations and related advertising, whereas Connexity specializes in e-commerce. Together, they’re aiming to provide an alternative for publishers to gain revenue and customers without relying on giants in the space. [TechCrunch]
Numerade pulled in $26M. With the goal of providing more students across the globe with access to STEM education, Numerade closed on a Series A funding round led by IDG Capital. It’s investing the funding in expanding its video library and furthering development of its AI-powered tutoring tech. [Numerade]
5th Kind received a new investment. Developing collaborative media solutions and digital tools for Hollywood production studios, the company announced a new investment of an undisclosed amount from HCAP Partners. With the fresh cash, it’s looking to further the growth of its business and enhance its product offering. [FinSMEs]
Techstars LA announced its 2021 class. This year, the startup accelerator gathered a dozen new recruits with companies focused on solving societal challenges and creating healthy and more equitable communities. Some of the participants include social platform Cheres, tax platform ComplYant, retail software provider Lightbox and business grower SanityDesk. [Techstars]
