“Built In L.A.” Releases Its First Los Angeles Digital Startup Report
As we reported earlier, Built in L.A., the online community for the Los Angeles startup scene, soft launched in January with the help of tech leaders, including mega VC Tony Pritzker. A new startup is launched every 40 hours in Los Angeles. It is hard to keep up with the newly formed companies and deals. Built In L.A has been datamining and tracking all the local startup action and has released the “2012 Los Angeles Digital Startup Report.”
“2012 was another record-setting year for digital technology companies in Los Angeles,” said Tony Pritzker, Partner, The Pritzker Group and Built In L.A Board Member. “The spotlight on the Los Angeles digital technology economy is shining bright, as government, media, large corporations, major universities and investors from around the country are taking notice — and now we have the data to prove it.”
According to the report, in 2012 Los Angeles launched 220 new startups, 100 companies secured funding of at least $1 million (with digital media and marketing being the fastest growing sectors), and 43 companies were acquired. The city attracted 170 investors raising $871 million from VCs. JustFab put the fashion industry in the forefront securing the largest investment last year at $76 million.
“2012 was a key year for JustFab as it cemented the brand as the leader of this exciting industry of online subscription fashion. The funds we raised last year gave us the ability to scale our business on a global level, which is now thriving in four countries and will continue to expand this year,” said Adam Goldenberg, Co-CEO of JustFab.
Built in L.A. will continue to provide Los Angeles free comprehensive digital startup reports quarterly and annually.
