LA builds on a strong August, brings in more than $250M in funding

A seemingly slow month in startup funding turned out to be just the opposite, surpassing last month's amount by nearly $40 million. Orange County, true to form, refused to be shut out, with one Irvine-based startup finishing in the top five — which combined to bring in more than $200 million — for yet another month. All told, LA tech raised more than $256 million in funding during September.

 

4. InvestCloud, $25 million, September 14

Investors: JPMorgan Chase

Bio: Fintech outfit InvestCloud develops enterprise software employed by leading brokers and financial advisors across the globe.

News: JPMorgan Chase made a sizable investment in the Beverly Hills-based startup, buying nearly $25 million in equity. JPMorgan Chase also revealed a partnership with InvestCloud in order to expedite the development of online investing capabilities and building out the company's digital investment platform.

 

3. Digital Map Products, $36.3 million, September 15

Investors: Silversmith Capital Partners

Bio: Digital Map Products develops cloud-based mapping products utilized by corporations and government organizations.

News: The Irvine-based company, which was founded back in 2000, brought in $36.3 million to fuel strategic growth. With the funding came news that Todd MacLean and Marc Munfa of Silversmith Capital Partners would be joining DMP's board of directors. 

 

2. Oblong Industries, $65 million, September 23

Investors: Unknown

Bio: Oblong Industries is a design-driven software and hardware company that creates innovative interfaces based on decades of research at the MIT Media Lab.

News: Last month, Oblong Industries reported an additional $45 million in funding on an original filing for $15 million. According to a filing dated September 23, however, Oblong Industries wasn't quite done raising money yet, bringing in a whopping $65 million.