Armed with some data from our friends at CrunchBase, I broke down the largest LA startup funding rounds during September 2022. I have included some additional information as well such as industry and brief funding description, to further the analysis for the state of venture capital in LA. For the purposes of this analysis, only equity funding rounds were considered.
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8. Open Raven $20.0M
Round: Series B
Description: Open Raven is the data security posture management company that prevents leaks, breaches, and compliance incidents. Founded by Dave Cole and Mark Curphey in 2019, Open Raven has now raised a total of $39.1M in total equity funding and is backed by Signal Sciences, Kleiner Perkins, Upfront Ventures, Pelion Venture Partners, and Oliver Friedrichs.
Investors in the round: Kleiner Perkins, Nancy Wang, Pelion Venture Partners, Upfront Ventures
Industry: Cyber Security, Network Security
Founders: Dave Cole, Mark Curphey
Founding year: 2019
Total equity funding raised: $39.1M
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7. MeWe $27.0M
Round: Venture
Description: MeWe is the rapidly growing high integrity alternative to Facebook. Founded by Mark Weinstein in 2012, MeWe has now raised a total of $41.5M in total equity funding and is backed by McCourt Global.
Investors in the round: McCourt Global
Industry: Social Media, Social Network, Software, Video
Founders: Mark Weinstein
Founding year: 2012
Total equity funding raised: $41.5M
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6. Morpheus Space $28.0M
Round: Series A
Description: Morpheus Space is an aerospace company that produces a modular and electric propulsion system for the small satellite industry. Founded by Daniel Bock and István Lőrincz in 2018, Morpheus Space has now raised a total of $28.0M in total equity funding and is backed by Techstars, NASA, Starburst Accelerator, Jackson Moses, and Airbus Ventures.
Investors in the round: Airbus Ventures, Alpine Space Ventures, In-Q-Tel, Jackson Moses, Lavrock Ventures, Morpheus Ventures, Pallas Ventures, Techstars, Vsquared Ventures
Industry: Aerospace, Artificial Intelligence, Hardware, Satellite Communication, Software
Founders: Daniel Bock, István Lőrincz
Founding year: 2018
Total equity funding raised: $28.0M
LA TechWatch’s exclusive coverage of this round: Morpheus Space Raises $28M to Make Satellite Mobility in Space More Accessible
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5. Scratchpay $35.0M
Round: Series C
Description: Scratchpay is a financial technology company that provides patient financing solutions for veterinary care. Founded by Caleb Morse, John Keatley, and Lou Gatto in 2016, Scratchpay has now raised a total of $58.8M in total equity funding and is backed by Credit Suisse, Alumni Ventures, Norwest Venture Partners, FJ Labs, and Struck Capital.
Investors in the round: Alumni Ventures, Companion Fund, Norwest Venture Partners, Struck Capital, SWS Venture Capital, TTV Capital
Industry: Financial Services, FinTech, Payments, Pet, Veterinary
Founders: Caleb Morse, John Keatley, Lou Gatto
Founding year: 2016
Total equity funding raised: $58.8M
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4. HopSkipDrive $37.0M
Round: Series D
Description: HopSkipDrive is a vehicle for hire company focused on shuttling kids to school. Founded by Carolyn Yashari Becher, Janelle McGlothlin, and Joanna McFarland in 2014, HopSkipDrive has now raised a total of $123.8M in total equity funding and is backed by Gaingels, Alumni Ventures, FirstMark, Energy Impact Partners, and Maveron.
Investors in the round: 1776 Ventures, 1843 Capital, Alumni Ventures, Cap Table Coalition, Energy Impact Partners, FirstMark, GingerBread Capital, Halogen Ventures, Keyframe Capital Partners, The Artemis Fund, Transform Capital, Upfront Ventures
Industry: Child Care, Children, Information Technology, Ride Sharing, Transportation
Founders: Carolyn Yashari Becher, Janelle McGlothlin, Joanna McFarland
Founding year: 2014
Total equity funding raised: $123.8M
LA TechWatch’s exclusive coverage of this round: HopSkipDrive Raises Another $37M to Modernize School Transportation
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3. Theorycraft Games $50.0M
Round: Series B
Description: Theorycraft Games operates as an independent game development studio that operates remotely. Founded by Areeb Pirani, Joe Tung, and Michael Evans in 2020, Theorycraft Games has now raised a total of $87.5M in total equity funding and is backed by Andreessen Horowitz, BITKRAFT Ventures, NetEase, Makers Fund, and New Enterprise Associates.
Investors in the round: Andreessen Horowitz, Makers Fund, New Enterprise Associates
Industry: Gamification, Gaming, Media and Entertainment, Video Games
Founders: Areeb Pirani, Joe Tung, Michael Evans
Founding year: 2020
Total equity funding raised: $87.5M
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2. SpinLaunch $71.0M
Round: Series B
Description: SpinLaunch is an aerospace company focused on sending satellites to low-Earth orbit using kinetic energy. Founded by Jonathan Yaney in 2014, SpinLaunch has now raised a total of $146.0M in total equity funding and is backed by ATMA Capital, Chuck Brady, Alphabet, Bolt, and Airbus Ventures.
Investors in the round: Andrew L. Farkas, Asher Delug, ATMA Capital, ATW Partners, Brook Byers, Chuck Brady, Greg McAdoo, GV, John Doerr, Kleiner Perkins, Lauder Partners, McKinley Capital Partners, Ona Capital, Tyche Partners
Industry: Aerospace, Manufacturing, Space Travel
Founders: Jonathan Yaney
Founding year: 2014
Total equity funding raised: $146.0M
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1. LootMogul $200.0M
Round: Venture
Description: LootMogul is an athlete-led sports metaverse web3 platform that uses blockchain games, meta stores for brands and players. Founded by Kuntal Sampat and Raj Rajkotia in 2020, LootMogul has now raised a total of $204.0M in total equity funding and is backed by Harmony, The Global Emerging Markets Group, Angel, U2opia Mobile, and Powerhouse Ventures.
Investors in the round: The Global Emerging Markets Group
Industry: Blockchain, Fantasy Sports, Gaming, Media and Entertainment, Virtual Reality
Founders: Kuntal Sampat, Raj Rajkotia
Founding year: 2020
Total equity funding raised: $204.0M
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