After a quiet month of funding in April, this month had the Los Angeles tech scene blooming like the California deserts.
The month’s top funding round showcased the city's diverse tech ecosystem — with companies that build tools to read brain waves, sort job applications and support a global e-sports team all raising money to fuel their expansion plans.
In total, the top five largest rounds generated more than $199 million in funding, which is nearly five times more than last month. Check them out, below:
1. $70M, May 1
What they do: VideoAmp helps advertisers understand what makes their video marketing a success. Founded in 2014, the company’s software and data tools break down the in-store visits, online conversions and other metrics that enable advertisers to see the impact their videos have.
The round: VideoAmp’s series D round will enable it to build out its data and customer support staff, and brings its total funding to $106.6 million. Raine Group LLC led the round, with participation from Ankona Capital.
2. $56M, May 17
What they do: Founded in 2006, Criteria has spent more than a decade helping companies screen job candidates and find the perfect fit for their open roles. The company provides customers with pre-hire personality and skill-screening tools that are designed to get beyond the resume and help employers understand if the person will be a fit for the job and company.
The round: Criteria wrapped up its biggest round to date with its close of a $56 million private equity round funded by Sumeru Equity Partners. The company plans to invest in its sales and marketing team and will be honing its product development.
3. $30M, May 1
What they do: Based out of LA, Immortals fields a team of e-sports gamers who compete in Rainbow Six Siege and Clash Royale.
The round: With this funding round, the esports franchise acquired Brazil-based Gamers Club, which provides a game matchmaking platform.
4. $22M, May 8
What they do: Neural Analytics uses that power of robotics to quickly read head ultrasounds and identify the root cause of a patient’s stroke. The technology is designed to help improve stroke treatments, and in turn, save lives.
The round: Neural Analytics is using the round to expand its platform and reach. The company is currently working with the U.S. military to develop a version of its system that can be used in combat zones, in addition to researching applications for its technology beyond strokes.
5. $21M, May 8
What they do: ChowNow develops a food ordering platform designed to serve local restaurants and help them boost profits. Founded in 2010, the company’s platform can be integrated into restaurant’s website, Facebook or Instagram. That restaurant is then charged a monthly fee for participation, and no commission on orders.
The round: ChowNow’s $21 million funding round will fuel the company’s growth and expansion. In addition, it also launched a new website in OrderBetter.com to raise awareness around costs of third-party delivery apps.
