Startup Attracts $17M in Funding

Westlake Village startup PureSpectrum this week announced it garnered $17 million in Series B funding from Arthur Ventures, a Minneapolis-based growth equity firm.The online market research platform – a homegrown Hub101 product – plans to use the money to build and retain talent and to diversify its product offerings.California Lutheran University’s Hub101 serves as an incubator for fledgling companies in the Conejo Valley. PureSpectrum moved into the space in 2015, then established its own location at 31416 Agoura Road in Westlake Village. The company has another office in the U.K.Since its start five years ago, Pure has grown to more than 100 employees worldwide and was named the third fastest-growing company in the market research sector by Deloitte’s Fast 500 list.“This funding will allow us to continue to invest in bringing opportunities for top talent to the Conejo Valley,” Michael McCrary, chief executive and founder of PureSpectrum, said in a statement. “This growth equity will allow us to do more faster. It is a tremendous opportunity to accelerate the growth of the business.”Added Arthur Ventures Partner Patrick Meenan: “We have been looking for a business in this market for years. PureSpectrum is a fast-growth company with a strong team and culture that shares the same values as Arthur Ventures.”Meenan will join PureSpectrum’s board, the company said.