LA-based startups raised almost $2B in May

June 1, 2016
Anchored by Snapchat's monster Series F, LA startups experienced a month of unprecedented funding. 

5. Winc, $17.5M, May 6

Investors: Shining Capital and existing investor Bessemer Venture Partners

Bio: Club W had some big news to kick-off May. In addition to receiving $17.5 million in funding, the company wine subscription service rebranded from Club W to Winc.

News: Funds will go toward onboarding more members and improving member experience. 

 

4. Tradesy, $30M, May 10

Investors: Sequoia Capital

Bio: Tradesy, an online marketplace that connects fashion buyers with sellers, announced $30 million in funds raised. The Santa Monica-based company raised a similar amount in funding just a year beforehand.

News: Though the site currently isn't profitable, their product catalogue — and more importantly product descriptions — continue to grow, allowing the site to rank better in search results and driving new business to the site.

 

3. Victorious, $25 million, May 24

Investors: Marker LLC, Dentsu Ventures, Kleiner Perkins Caufield & Byers and Redpoint.

Bio: Victorious creates apps focused on YouTube creators and celebrities and recently created an X-Men app for 20th Century Fox.

News: The company plans to use the money raised to power an international expansion. 

 

2. Age of Learning, $150 million, May 3

Investors: Iconiq Capital

Bio: Glendale-based education startup Age of Learning raised $150 million at a $1 billion valuation from Iconiq Capital. The company produces one of the highest-grossing education apps used today in ABCmouse. 

News: The company expects to use the round of funding to expand partnerships, as well as growing automated investment features.

 

1. Snapchat, $1.8 billion, May 24

Investors: General Atlantic, Sequoia Capital, T. Rowe Price, Lone Pine, Glade Brook Capital, IVP, Coatue Management and Fidelity

Bio: Based on strong returns from their recent monetization efforts, Venice-based Snapchat was able to pull in a $1.8 billion in Series F funding. 

News: With the funds raised, the company plans to ramp up its monetization process.

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