News did not slow down in the LA tech scene this past week. Keep reading to see what companies gained new capital and are expanding. This is the Built In LA weekly refresh.
Pollen raised $150M. Pollen provides travel experiences such as sports or concerts, partnering with brands and festivals such as Live Nation and Austin City Limits. This Series C round comes after a year of significant growth. [BusinessWire]
Trust gained $30M. Trust provides a platform that allows businesses to network, learn and gain insights from other companies about building a brand. Trust gained a $25 million debt line from Upper90, as well as a $5 million equity investment. The company will continue to grow through more partnerships. [Built In LA]
HaveNeed launched. The HaveNeed app was launched to connect people who have a similar need or want, allowing them to barter for items or services through the app. Users can rate a transaction after a trade is completed. If an individual does not receive what they are promised, HaveNeed will compensate them. The app hopes to integrate insurance protection and premium services in the future. [Built In LA]
LOS ANGELES TECH QUOTE OF THE WEEK
Trac gained pre-seed funding. Trac signs on artists similar to record companies, but allows the artist to manage every part of their work. The company also allows artists to turn their merchandise into NFTs. Trac gained $2.5 million, which will allow it to grow and add more features to its platform. The company also plans to double its 10-person team. [Built In LA]
Stem gained $20M. Stem helps artists in the music business navigate monetization and distribution. This funding round, co-led by Block and QED Investors, will allow the company to build a payments platform and offer its financial tools to others in the music industry. The company also added QED partner Frank Rotman to its board. [Stem]
VideoAmp acquired Elsy. VideoAmp, a company focused on data-driven advertising, acquired Elsy, which uses AI for media investment planning. The acquisition will simplify the work done for cross-platform media campaigns. [VideoAmp]
