March 23, 2013
The ten biggest LA funding rounds in the last year
Silicon Beach is picking up steam; here are the 10 biggest deals in the last 12 months
While Silicon Valley remains the reigning champion of the tech world, Los Angeles has been churning out some big new names as of late, such as Snapchat and Tinder (both of which also have some pretty gross sexism scandals to their names, so now I’m thinking L.A. is the place to be if you have a tech idea and you were the head of your frat).
Silicon Valley investors are taking note and zeroing in on some of the hottest So Cal startups around. Come check out the LA scene on October 2 at Vator Splash LA, where The Honest Company founders Brian Lee and Jessica Alba will be speaking.
I give you the ten biggest deals in the last twelve months (with help from NVCA), starting with:
$135 million
May 2014
Sovereign Wealth Funds, Kuwait Investment Authority
A provider of cloud-based intelligent clinical operating systems that is working to advance diagnostics to better identify and target certain disease characteristics. The platform offers features like quantum genomics, quantum imaging, decision support, and more. NantHealth raised a follow-up $25 million round in June 2014 from Celgene. The company has raised $160 million altogether.
$60 million
June 2013
Tencent, SV Angel, Lightspeed Venture Partners, Benchmark, General Catalyst Partners, Institutional Venture Partners
The ephemeral messaging app has been gaining a lot of ground lately—and drawing a lot of attention. The company notably turned down a $3 billion buyout offer from Facebook last year. The company has raised $143 million to date.
$54 million
July 2013
Performance Equity Management, Steamboat Ventures, Menlo Ventures
Acquired by Verizon Communications in December 2013 for $350 million, the company is a content delivery network that helps businesses deliver static and dynamic content to end users around the world. Prior to its acquisition, Edgecast raised $74 million.
$50 million
December 2013
Coatue Management
Yup, Snapchat made the list twice with two of the largest L.A. deals in the last year. Prior to raising $50 million from Coatue Management, Snapchat also raised $20 million on the secondary market.
$40 million
September 2013
Rho Ventures, Matrix Partners, Intelligent Beauty, Shining Capital, Technology Crossover Ventures
With new overseas markets in France, Spain, the UK, and more, JustFab is exploding. The company acquired notable competitor Shoedazzle last year and was projected to be on target to rake in $400 million in revenue in 2014. The company has raised $164 million to date, including a follow-on $15 million round from Shining Capital in December 2013.
$36 million
May 2014
CAA Ventures, Tencent, Thrive Capital, Sequoia Capital, Shasta Ventures, Lightspeed Venture Partners
The anonymous secret sharing app has been a fast rising name in Silicon Beach since its founding in 2012. The Santa Monica-based company also raised $21 million in September 2013. Altogether, it’s raised $60 million.
$30 million
December 2013
Vulcan Capital
Founded in 2005, the price comparison platform for cars has been a contentious name in the automotive industry, with some accusing TrueCar of socialism (read: sOooOooCiaLisM) for giving consumers a leg-up on car salesmen. The company went public last month, but prior to that, it raised $283.2 million altogether.
$30 million
February 2014
Institutional Venture Partners, US Venture Partners, Richmond Park Partners, First Round, Shasta Ventures
Formerly known as Movieclips, Zefr is now a software platform for brand and content management on YouTube. The company’s two main products, BrandID and RightsID, help customers manage their content and relationships with users. Zefr has raised $60.1 million altogether.
$25 million
November 2013
Pritzker Group Venture Capital, Lightspeed Venture Partners, General Catalyst Partners, Institutional Venture Partners, Iconiq Capital
The subscription commerce company for all natural home and health products was founded in 2011 and is headed by CEO Brian Lee (formerly of Shoedazzle fame) and president Jessica Alba. The Honest Company specializes in non-toxic products for the whole family (diapers, shampoo, lotion, cleaners, etc.) and has steadily grown over the last three years. The Santa Monica-based company has raised $52 million to date. Come see Brian Lee and Jessica Alba at Vator Splash LA!
$25 million
June 2013
Cantor Ventures
Founded in 2013, Topline Game Labs is a fantasy sports and social gaming platform that raised its very first round last summer from Cantor Ventures. The Los Angeles-based team brings traditional Silicon Valley experience to the table from companies like Yahoo!, Apple, DreamWorks Animation, Live Nation, and Salesforce.
Image source: siliconbeachclearly.com
Related Companies, Investors, and Entrepreneurs
JustFab
Startup/Business
Joined Vator on
JustFab (www.JustFab.com) is an online fashion styling service and
lifestyle fashion brand that offers members a fun and engaging personalized
shopping experience. Members of the fashion service are given the celebrity
treatment every month as they receive a customized selection of shoes and
handbags, handpicked by stylists, along with the JustFab basics of denim and
other fashion essentials. VIP members can purchase items for $39.95 and
shipping is always free.
TrueCar Inc
Startup/Business
Joined Vator on
TrueCar, Inc. is an online automotive information and communications platform focused on creating a better car buying experience for dealers and consumers. Consumers want a hassle-free car buying experience and dealers want high-quality sales velocity. TrueCar helps achieve these goals by providing unbiased market information on new car transactions and by supplying an online communications platform through which dealers and consumers can communicate with each other. TrueCar’s market-based information provides both consumers and dealers with an accurate and comprehensive understanding of what others actually paid recently for similar vehicles, both locally and nationally. TrueCar’s communications platform then allows informed, ready-to-buy consumers to communicate directly with participating dealers. Some of the nation’s largest and most well respected membership and service organizations rely on websites powered by TrueCar to help educate their members and customers who are in the automotive market. TrueCar is headquartered in Santa Monica, CA, and has offices in San Francisco, CA, and Austin, TX. After experiencing dramatic growth since 2006, TrueCar is developing a suite of products and services centered on radical clarity through the comprehensive analysis of market data and information. TrueCar’s participating dealer partners have sold over 500,000 new vehicles to TrueCar users nationwide.
The Honest Company
Startup/Business
Joined Vator on
The Honest Company (www.Honest.com), founded by Jessica Alba, Christopher Gavigan, Brian Lee and Sean Kane, was created to ensure that parents have access to non-toxic, eco-friendly, effective and beautiful family products that don't break the bank. Honest.com offers essentials for every family member including diapers, wipes, bath, skin care, home cleaning and health & wellness products conveniently door-delivered through a monthly subscription service of customized product bundles or single item purchase. As a certified B Corporation, The Honest Company strives to promote sustainability, engage employees and community, and support non-profit initiatives working to solve critical health and social issues affecting children and families. Available in the U.S. and Canada.
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