The LA tech scene saw a slow but steady stream of funding at the close of the third quarter. Collectively, local tech companies brought in a little over $155 million in investments in September, compared with last year’s $681.5 million. The five companies that brought in the bulk of this funding are making waves in industries like healthcare, food and liquor, and together pulled in a cool $96 million alone. Here are the SoCal companies that round out that top five:
5. $7.1 million, September 18
Glendale-based SnapMD landed a $7.1 million funding round for its platform to push forward its sales and marketing efforts. The telemedicine company helps healthcare providers provide virtual care to patients, including predictive analytics and performance measurement tools. In May, SnapMD gave the American Academy of Pediatrics' Member Advantage Program access to its platform, according to reports from MobiHealthNews.
4. $9.5 million, September 5, 2018
Ordermark, a Santa Monica-based foodtech startup, snagged $9.5 million in a Series A funding round led by London-based VC firm Nosara Capital. The new capital will go toward the company’s growth efforts. Ordermark collects orders from multiple services and sends them to a single dashboard and printer to help restaurants simplify the online ordering process. In 2017, Alex Canter founded the company to reign in the number of orders he was receiving at his restaurant. The funding round also saw participation from Vertical Venture Partners, Techstars Ventures, Riverpark Ventures and Matchstick Ventures, plus previous investors TenOneTen, Mucker Capital, Act One Ventures and AARD Capital.
3. $15 million, September 7, 2018
DRINKS, an LA-based wine distribution platform, this month scored $15 million in a Series B funding round. The company’s direct-to-consumer platform serves as an in-between for retailers and their customers. DRINKS is best known as the owner and operator of Martha Stewart Wine Co., which allows users to shop for wine selected and curated by lifestyle doyenne Stewart and have bottles delivered directly to their homes. Beverly Pacific led the round, which also saw participation from Shea Ventures, Guillaume Cuvelier, Yehuda Shmidman, Stable Road Capital and NewRoad Ventures. The company has raised a total of $25 million to date.
2. $22.5 million, September 5, 2018
TigerConnect’s platform helps healthcare professionals communicate and collaborate, sharing real-time information and streamlining workflow for more than 4,000 healthcare organizations. The company secured $22.5 million in debt financing with investments from CIBC Innovation Banking, Norwest Venture Partners, OrbiMed, Montreux Equity Partners and New Leaf Ventures, according to Crunchbase. The funds, the company said, will fuel TigerConnect’s growth efforts. Earlier this year, the company announced that it would partner with QGenda, a provider of physician scheduling software, to integrate their products.
1. $42 million, September 5, 2018
Factual, an LA-based software company that provides developers access to data that, in turn, allows them to build location-aware apps, closed a massive $42 million funding round. Upfront Ventures and Felicis Venture participated in the round. The funds went toward the company’s plans to expand internationally and deepen partnerships with brands, publishers and business analysts. Founded in 2008, Factual has raised $104 million to date.
