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Sunday, Jun 4, 2023

Westwood Tech Repair Firm Raises $20 Million

Home technology support and consultancy firm HelloTech Inc. raised $20 million in a new fundraising round with continued support from local venture capital firms. The round brings HelloTech’s total funding to roughly $95 million since its 2014 incorporation.

HelloTech’s previous funding round for $5 million was an early stage VC round completed in March 2018, with a post valuation of $75 million, according to PitchBook Data Inc.

Twenty nine investors have bankrolled HelloTech. Among the nine local investors are Amplify.LA, the Venice-based early stage venture capital investor founded by Paul Bricault, and Beverly Hills-based Baroda Ventures, Pasadena-based IdeaLab, Venice-based CrossCut Ventures Management, and Sawtelle-based Wavemaker Partners.

Additionally, e-commerce platform Lucky Group Inc. Co-Founder and President Diego Berdakin, a Los Angeles resident and private investor, contributed $2.5 million to HelloTech’s seed round in Jan. 2015, PitchBook notes.

Four Santa Monica-based firms invested in HelloTech, including Upfront Ventures Management and Wonder Ventures, Basepoint Ventures, and AI List Management, which invests in artificial intelligence and technology startups.

Tech reporter Samson Amore can be reached at samore@labusinessjournal.com or (323) 556-8335. Follow him on Twitter @samsonamore.

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