$811M Funding Record for LA Tech in the 3rd Quarter of 2014

Los Angeles digital tech startups raised more than they ever have, totaling $811 million in funding.

From BuiltInLA:

“The good news isn’t stopping for Los Angeles tech. In the third quarter of 2014, Los Angeles digital tech startups raised more than they ever have, totaling $811 million in funding. They also exited to quite a nice tune, selling off for a total of $2.417 billion. All in all, 51 companies received funding and six exited via acquisitions.

Funding: $811 million
Exits: $2.417 billion

That increased funding is no doubt because outsiders are seeing the potential of LA startups more and more. Just this week PayPal co-founder Peter Thiel called LA tech the most “underestimated” region in the country. Thiel said to the LA Times: “I’d definitely be short New York and long L.A.”

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