Los Angeles-area companies raised $436 million in the third quarter, a 33 percent increase from the same period last year, according to the latest Money Tree Report from PricewaterhouseCoopers and the National Venture Capital Association
The local company that raised the most money in the third quarter was the El Segundo fashion company Just Fabulous Inc., which received $85 million. The Santa Monica baby and home product retailer Honest Company Inc. received the second-highest sum of $70 million.
Other local companies that received significant investment include Santa Monica’s ZipRecruiter Inc., Venice’s Dollar Shave Club, and Torrance solar panel installer Verengo Inc.
While the Los Angeles area saw an increase in funding, the nation as a whole saw funding decline. Venture capitalists invested a total of $10 billion dollars in the quarter, a 27 percent decrease compared with the previous quarter.
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