GumGum Gets Series A

Santa Monica-based GumGum, a provider of technology for licensing content and images online, said Thursday that it has raised a Series A round of financing. The round was co-led by First Round Capital and Crosscut Ventures. Along with the financing, Howard Morgan of First Round Capital, and Brian Garrett of Crosscut Ventures have both joined the firm's board of directors. This is the first investment of Crosscut Ventures, which was founded by Garrett and Rick Smith, both formerly venture capitalists at Palomar Ventures. The firm said the new funding will go towards Version 2 of the firm's product. Amont of the new round was not disclosed.