LA pulled in over $300M in funding in June. Here are the top 5 rounds.

Written by John Siegel
Published on Jul. 01, 2016
LA pulled in over $300M in funding in June. Here are the top 5 rounds.

LA welcomed in the summer with yet another big month of funding. Despite a typically slow time of year, LA startups scored big, with the top six rounds combining for $317.78 million.

 

5. Woven, $8M, June 30

InvestorsWPP Ventures, Institutional Venture Partners and Advancit Capital.

Bio: Woven Digital is a media company responsible for sites like Uproxx, Hitfix, and BroBible.

NewsThe funding will go to scale its coverage of news, sports, and entertainment.

 

5. Loot Crate, $18.5M, June 2

Investors: Sterling.VC, Downey Ventures, Time Inc., Breakwater Investment Management, Upfront Ventures.

BioLoot Crate is a monthly subscription service aimed at fans who embrace a geeky lifestyle.

News: The funding is an indication that the company is expanding its subscription plans, and working to personalize what users receive each month.

 

4. The Virtual Reality Company, $23M, June 13

InvestorsHengxin Mobile Business Co., Ltd. Notable investors in VRC include Spielberg, Metallica lead singer James Hetfield, Rothenberg Ventures and Elementum Ventures.

BioThe Virtual Reality Company is the brainchild of two-time Academy Award-winning director and visual effects maven Robert Stromberg. The startup was responsible for The Martian VR, a 20-minute interactive and fully immersive journey created for the 20th Century Fox Innovation Lab.

NewsThe company plans on using the funds to produce additional original virtual reality content. 

 

3. Payoff, $47.76 million, June 17

Investors: Tencent Holdings

Bio: Costa Mesa-based Payoff helps users pay off credit card debt.

NewsOver time, the company hopes to build its content and financial personality quizzes to evolve into a wealth management service.

 

2. Cylance, $100 million, June 8

Investors: Iconiq Capital.

Bio: Irvine-based Cylance is the first cybersecurity software developer to apply artificial intelligence algorithms to predictively identify malware.

News: The company plans to use the funds to expand sales, marketing and engineering programs.

 

1. Thrive Market, $111 million, June 27

Investors: Invus, Cross Culture Ventures, e.ventures and Greycroft Partners.

BioThe company offers a wide selection of healthy food for a $60 a year membership, allowing access to organic products at better prices than stores like Whole Foods.

News: The round will help the company create new branded goods, as well as expand the startup's marketing efforts.

Images via Facebook

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