LA tech companies spanning SaaS, digital health and other industries raised capital last month in preparation for what is expected to be a busy summer. The five largest LA tech funding rounds pulled in a collective $220 million in May. Read on to learn what these local companies are up to next, and how they plan to spend their funds.
Largest LA Funding Rounds, May 2023
- Restaurant365
- BuildOps
- Steno
- Lifeforce
- Sensydia
#5. $8 million, May 9
Sensydia developed a non-invasive cardiac assessment tool called Cardiac Performance System, or CPS, to help diagnose and manage heart disease. The handheld device attaches to a patient’s chest and uses biosensors and artificial intelligence to monitor the user’s heart from their home. LA-based Sensydia will use the $8 million round led by Orlando Health Ventures to complete the development of the CPS platform. The CPS platform received breakthrough device designation by the U.S. Food and Drug Administration last year.
#4. $12 million, May 23
LA-based Lifeforce’s health optimization platform is used by men and women ages 40 to 65, also referred to as the midlife stages. The clinically integrated platform helps patients manage natural changes caused by age from their homes and allows them to receive individualized health plans. With its $12 million Series A round, Lifeforce will develop data science tech to improve the effectiveness and reduce the cost of its platform.
#3. $15 million, May 23
Founded in 2018, Steno provides tech-backed legal support services ranging from court reporting and video conferencing to financing and e-filing. Led by Left Lane Capital, the $15 million Series B round will allow Steno to expand into new markets across the U.S., develop more services and grow its tech team.
#2. $50 million, May 18
BuiltOps is a management tool for commercial contractors. The SaaS platform allows users to keep track of scheduling, inventory, contracts, staffing, invoicing and more. The $50 million round was co-led by Fika Ventures and 01 Advisors.
#1. $135 million, May 19
As a software provider for restaurant operators, Restaurant365 works with brands like Freddy’s Frozen Custard and Blaze Pizza to help them manage labor and food costs while increasing sales. The recent $135 million raise brings Irvine-based Restaurant365’s valuation to more than $1 billion.
