Report: Startup Activity SteadyTuesday, October 8, 2013
Startup activity in Los Angeles continues at a steady rate according to a report released Tuesday from tech community group Built In Los Angeles.
The report, which looks at startup creation, funding and acquisitions during the third quarter found that 46 startups were formed and 56 were funded. Three companies – DermStore, MySocialCloud and 12Society – were acquired.
In total, L.A. companies raised more than $280 million in funding. The largest deals included Edgecast Networks' $54 million round and JustFab's $40 million round.
Built In Los Angeles released a report in July that analyzed the first half of the year, making it difficult to compare this quarter's data. But it appears that L.A. companies are on pace to raise more funding in the second half of the year than the first. Meanwhile, startup creation is steady.
Built In Los Angeles is one of several firms that looks at the health of the local funding ecosystem. The Business Journal will compare data from the various reports as they become available.