Following several funding rounds, there are a range of digital solutions in the works. Find out which industries saw innovation from West Coast tech companies last week. Read on for more with the Built In LA Weekly Refresh.
MACRO raised $90M. Multimedia company MACRO announced a minority investment led by BlackRock Alternatives. MACRO operates several businesses including a film studio, a television studio, a creative agency and a firm geared toward digital media creators. The company will expand it operations across these existing verticals and fuel additional growth initiatives with its new capital. [Business Wire]
Rain pulled in $116M. Rain operates a financial wellness solution that allows hourly employees to access their wages ahead of payday. The company raised new capital consisting of a $66 million Series A co-led by QED Investors and Invus Opportunities, as well as a $50 million debt facility from Sound Point Capital Management. Rain will expand its tech and infrastructure with the new funding. [Built In LA]
LA Tech Quote of the Week
“It’s a scary thing to buy a car [and] for good reason. So much can go wrong with your seller, title, car, DMV or lender. The stakes are high, and we want to provide a guarantee to every buyer that they’ll get a clear title, to every seller that they’ll get paid securely and to both parties that they’ll have a level of information and assistance never previously available.” — Ed Brojerdi, Caramel co-founder and co-CEO
Caramel pulled in $12M. Newly-launched Caramel offers car buyers and sellers a platform that helps them connect and complete vehicle transactions. The company raised a seed funding round from lead investors Zeev Ventures, Primera Capital and Hearst Ventures to enhance its platform’s capabilities and offer new features. [Built In LA]
Britive secured $20.5M. Offering cloud identity security solutions, Britive equips enterprise teams with security tools for their organizations’ multi-cloud environments. The company’s Series B round was led by Pelion Venture Partners and will help Britive enhance its tech and expand its go-to-market and customer success teams. [PR Newswire]
Infillion launched a new product. Adtech company Infillion announced the launch of InfillionX, a media buying solution that works to measure a campaign’s key performance indicators across platforms. The tool allows users to build and execute campaigns across the entirety of Infillion’s platform. Infillion is also hiring new talent for its team. [Digiday]
