Friday, October 16, 2009Ad.ly Gets $500K In Seed FundingLos Angeles-based Ad.ly, which is developing an in-stream, advertising platform for Twitter, has raised $500,000 in a funding round. The round came from GRP Partners. GRP's Mark Suster sits on the firm's board. "Ad.ly has performed very well," Suster told socalTECH, saying that the round was a seed round. Suster said that the seed investment for Ad.ly comes as the firm begins talking to VC investors about Series A round. Ad.ly is lead by Sean Rad.
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CaseStack Taps FedEx Vet For BoardSanta Monica-based CaseStack, which provides outsource logistics and supply chain services to consumer packaged goods companies, announced Friday that it has added Tucker Taylor--a former Federal Express executive--to its board. CaseStack said that Taylor joined Federal Express in 1973, as a member of the company's original management team, and has also served at Medical Care America. Taylor was also an investor in SuperShuttle, the ubiquitous airport shuttle firm serving LAX.
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Sometrics Raises Series BLos Angeles-based Sometrics, which develops analytics software for gaming applications, said Friday morning that it has raised a Series B round of financing. Amount of the funding was not released, however, reports put the amount at $4M. The investment was led by Steamboat Ventures, and also included prior investors Mail Room Fund and Greycroft Partners. Beau Laskey of Steamboat has joined the firm's board with the funding. According to Ian Swanson, the CEO of Sometrics, the investment came as t (More info...)
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SmartDrive Systems Raises $12MSan Diego-based SmartDrive Systems has raised $12M, part of a $25M funding raising round, according to a regulatory filing by the firm Thursday. Details on the funding have not been released, however, Oak Investment Partners and New Enterprise Associates were involved in the latest funding. SmartDrive develops video-based, event recording technology for automobiles, used to improve driver behavior and reduce vehicle accidents.
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Emulex Adds SATA Bridging Support, Links With IxiaCosta Mesa-based Emulex said earlier this week that the firm has expanded its storage switching chips into the area of Serial Attached SCSI (SAS) and Serial Advanced Technology Attachment (SATA) bridging. Separately, the firm announced a testing link with Calabasas-based Ixia. According to the firm, it has extended its InSpeed line of chipsets to support SATA and SAS bridging specifically to support high performance, solid state disk drives. The InSpeed chips are provided to disk drive array man (More info...)
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Mindspeed Gets Win With BeceemNewport Beach-based Mindspeed Technologies, a supplier of semiconductors for the networking industry, said Thursday that the firm has been selected by Beceem Communictions. The firm said that Beceem will use its Comcerto 100 broadband gateway processor for use within Beceem's own mobile WiMAX chips. Mindspeed did not say what the expected shipping volumes would be for Beceem's new chips, but said that Beceem's BCS5200 started shipping in commercial volumes in the second calendar quarter of 2009.
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