Two Santa Monica tech companies announced today that they’ve secured eight-figure capital raises from leading venture capital firms.
Roadside assistance app Honk has raised a $12 million Series A funding round led by Altpoint Ventures in Menlo Park, bringing the company’s total venture funding to $13.8 million. Honk said in a statement it plans to use the money to enhance its offerings and technology, and to further expand distribution in the $10 billion roadside assistance market.
The AAA competitor has partnered with the operators of 20,000 tow trucks nationwide and guarantees customers will receive assistance within 30 minutes. Emergency vehicle assistance begins at $49 and varies by the level of need.
Meanwhile, online food ordering platform ChowNow has raised a $10 million round led by Santa Monica’s Upfront Ventures, with additional participation from Steadfast Venture Capital, Daher Capital and Karlin Ventures.
The company, which also offers marketing services for restaurants, charges a base price of $99 a month for its service. Co-founder and Chief Executive Chris Webb said the company has a couple thousand restaurant clients across the country.
Along with the funding, ChowNow has hired a former GrubHub executive as its vice president of sales and recruited a former Yodle executive as its vice president of product and marketing.
Webb said ChowNow plans to beef up its sales team, which has already grown from five to 25 employees since last fall.
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