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Santa Monica-based software engineering startup LinearB has raised $50 million in Series B funding led by San Francisco’s Tribe Capital, the company announced Monday.
New investor Salesforce Ventures and existing investors Battery Ventures and 83North also participated in the round, which takes LinearB’s total capital raised to $71 million.
LinearB, which also has offices in Tel Aviv, Israel, was founded in 2018 by Ori Keren and Dan Lines, former executives at cybersecurity firm Cloudlock (which was acquired by Cisco for $293 million in 2016). Informed by difficulties in scaling software development at Cloudlock, the pair launched LinearB, which is essentially a productivity tracker for engineers that provides data analytics and workflow metrics. The platform documents how many hours have been spent coding, how long it took to deploy code and what percentage of code was failing or creating problems.
The startup said it has grown its customer base from 1,500 to 5,000 software development teams “in the past year,” including clients at Bumble, BigID, Cloudinary, Unbabel and Drata. The new funding will be used to expand LinearB’s engineering, sales and marketing teams and further develop its product.
As working from home becomes the norm, LinearB is one of several software-focused companies aiming to meet the demands of a remote engineering workforce. Sourcegraph, a code-collaboration startup based in San Francisco, has been used by the likes of Tinder and Amazon to help scattered engineers annotate and collaborate on code. Jellyfish, a Boston-based productivity startup, helps managers see what work engineers spend their time on each day.
This week in “Raises”: A tech company that creates exclusive travel experiences featuring the likes of Justin Bieber and Duran Duran landed a big Series C round. Meanwhile, Jeffrey Katzenberg’s venture capital firm is raising $450 million for its second fund.
Venture Capital
Pollen, a startup that curates travel experiences featuring entertainers like Justin Bieber and Duran Duran, raised $150 million in Series C funding led by Sienna Capital.
Carlsmed, a medical tech company specializing in spinal surgery, raised a $30 million Series B funding round led by B Capital Group.
Climate tech startup Enervee raised a $30 million Series B funding round led by Kerogen Capital and JPMorgan.
Energy drink startup A SHOC Energy raised a $29 million Series B funding round led by prominent athletes including Aaron Judge, Michael Strahan, Brooks Koepka and Bryson DeChambeau, among others.
Playable Worlds, an online game developer, raised $25 million in Series B funding led by Kakao Games Corp.
Advertising platform tvScientific raised a $20 million Series A funding round led by Norwest Venture Partners.
Music tech startup Stem raised $20 million in new funding led by QED Investors. Block, the Jack Dorsey-led fintech company formerly known as Square, also participated.
Trust, a digital adtech startup founded by Snap alums, raised $5 million in funding from Sapphire Sport and former Venmo executive Michael Vaughan.
Web3 banking startup MetaLend raised $5 million in seed funding led by Pantera Capital.
Vyng, an Android app that lets users earn Bitcoin when making phone calls, raised $5 million in funding from March Capital Partners, Newbound Venture Capital, Alpha Edison and Omidyar Network.
NFT startup Afterparty raised a $4 million funding round from investors including Paris Hilton, Jason Calacanis, Blockchange, Acrew Capital and TenOneTen Ventures.
Soundful, an AI-powered music creation platform, raised $3.8 million in seed funding from individual investors affiliated with Microsoft, Disney and Universal Music Group, among other companies.
Creator economy startup Superjoi raised a $2.5 million pre-seed funding round from investors including Ascension Ventures, QED Investors, Systema VC, Tomahawk and Modern Venture Partners.
Music NFT platform SoundMint raised a $1.7 million seed round led by Animoca Brands.
Digital content monetization startup Ink raised a $1.5 million pre-seed funding round from investors including Mark Cuban and Sound Ventures.
Direct-to-consumer golf club company Robin Golf raised a $1.5 million seed round led by Pentland Brands.Funds
WndrCo, the venture capital firm founded by former Disney chairman Jeffrey Katzenberg, is looking to raise $450 million for its second fund, according to an SEC filing.
Cultivate Next, a new venture fund launched by fast food chain Chipotle, raised $50 million to fund early-stage food tech startups.
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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This week in “Raises,” virtual avatar startup Genies—which recently welcomed Bob Iger as board member—landed fresh funding from tech-focused private equity firm Silver Lake. Meanwhile, cybersecurity startup Obsidian received backing from a trio of Silicon Valley VCs.
Venture Capital
Genies, which makes metaverse startups for celebrities, raised a $150 million Series C funding round led by Silver Lake.
SaaS cybersecurity firm Obsidian Security raised a $90 million Series C funding round led by Menlo Ventures, Norwest Venture Partners and IVP.
Studio, an online learning platform providing creative courses taught by famous artists, raised a $50 million Series B round led by Human Capital.
Feminine care and beauty brand Rael raised $35 million in new funding, per an SEC filing.
Welcome Tech, a fintech startup providing financial tools and services for immigrants, raised $30 million in funding led by TTV Capital.
Virtual diabetes clinic 9am.health raised $16 million in Series A funding co-led by 7Wire Ventures and Human Capital.
Web3 game developer Digital Insight Games raised $7.5 million in Series A funding co-led by Hivemind Capital and Griffin Gaming Partners.
Biotech startup Pictor raised $6.1 million in funding led by K1W1 and Marko Bogoievski.
Plant-based food producer Mikuna Foods raised $5.6 million in seed funding from athlete angel investors including Leticia Bufoni, Mick Fanning and Sage Kotsenburg.
Winden, which provides digital banking services for entrepreneurs, raised $5.3 million in seed funding led by Accel.
Music tech startup Trac raised $2.5 million in pre-seed funding led by Zrosk.
Biotech startup Sampling Human raised $2 million in funding led by i&i Biotech 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).