‘Raises’: LinearB Lands $50M, Magnify Ventures Launches $52M Fund

Decerry Donato

Decerry Donato is a reporter at dot.LA. Prior to that, she was an editorial fellow at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

Raises
Image by Joshua Letona

In this week’s edition of “Raises”: It was a relatively slow week on the deal front, but that didn’t stop one local startup, which manages and monitors software engineers’ workflow, from raising a sizable Series B round. Meanwhile, a new female-led venture capital firm debuted with a $50 million-plus fund.


Venture Capital

LinearB, a startup offering a software engineering efficiency platform, raised a $50 million Series B funding round led by Tribe Capital.

Sensible Weather, a climate risk technology startup, raised a $12 million Series A funding round led by Infinity Ventures.

Fitness startup Kabata raised $2 million in funding from investors including Courtside Ventures, Tribe Capital, Dan Gilbert’s Detroit Venture Partners, Golden State Warriors executive Kirk Lacob, Bonobos co-founder and CEO Andy Dunn and pro soccer player Daniel Sturridge.

Funds

Magnify Ventures, a early-stage venture capital firm led by co-founders and managing partners Joanna Drake and Julie Wroblewski, raised a $52 million debut fund.

Elevation Ventures, a climate-focused venture capital firm, is raising a $50 million fund.

Raises is dot.LA’s weekly feature highlighting venture capital funding news across Southern California’s tech and startup ecosystem. Please send fundraising news to Decerry Donato (decerrydonato@dot.la).

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