As fireworks went off across Los Angeles last month, local tech companies were busy celebrating in their own right after raking in venture capital. The five largest funding rounds in July totaled a collective $882 million. The majority of funds will be used for product expansion and hiring sprees. Read on to see who topped the list.
#5. $72 million, July 6
Following a $72 million funding round led by Golub Capital, Tebra is officially a tech unicorn valued at more than $1 billion. The Newport Beach-based company is developing an operating system for independent healthcare practices to manage billing, patient engagement, electronic health records and more. The fresh funds will be used to scale Tebra’s marketing and sales team and build new capabilities for its SaaS platform.
#4. $100 million, July 25
Kitchen United is a Pasadena-based restaurant hub and ghost kitchen technology platform intended to streamline logistics and offer businesses move-in-ready commercial kitchen spaces. The recent Series C round included participation from the Kroger Company, former NFL quarterback Peyton Manning and funds managed by Fidelity Investments, among others. Founded in 2017, Kitchen United has raised $175 million to date and currently has approximately 200 operational kitchens, with plans to grow that number.
#3. $200 million, July 20
FreshRealm provides fresh, ready-to-cook meals to retailers nationwide. The company will use its recent $200 million funding to expand its operational facilities and product offerings, improve its equipment and technology and scale its national network with new supply chain partnerships. This round comes one year after FreshRealm’s $32 million capital raise.
#2. $250 million, July 19
Founded in 1998, TAE Technologies developed a commercial fusion power source. Today, its technology is intended to bring carbon-free energy to the power grid and used for power management, electric mobility and much more. The recent $250 million investment will be used to build TAE’s next research reactor named Copernicus.
#1. $260 million, July 21
The live shopping platform’s $260 million Series D round comes nearly one year after its $150 million Series C round. Whatnot is now valued at $3.7 billion and will use its Series D round to launch into additional categories and continue investing in its in-app live commerce marketplace.
