Wednesday, February 24, 2010Equipois Takes TCA LA Fast PitchEquipois, the developer of a mechanical arm--based on Hollywood's Steadicam--for reducing the weight of tooling and other objects, took the top prize and was ranked in 1st place overall in Wednesday evening's Tech Coast Angels Fast Pitch. The annual Fast Pitch competition pitted 10 companies against each other in 90-second, elevator pitches to a panel of 10 judges. After each 90-second pitch, and a quick Q&A, judges at the event gave both a presentation score and fundability score to each compan (More info...)
posted on Wednesday, February 24, 2010(Full story)
Break Enhances Video AdsLos Angeles-based Break Media said Wednesday that it is expanding the number of video advertising options the site offers. The publisher of entertainment sites aimed at men, said it has added new HD-quality options, interactive pre-roll options, and expandable video ads, among other options. The firm said it will make the new ad options available across all of its properties and its network.
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LowerMyBills' Coffin Joins Venture FirmMatt Coffin, the founder of Los Angeles-based LowerMyBills and an active angel investor in Southern California, has joined venture capital firm Split Rock Partners as a Venture Advisor, the venture firm said this week. Split Rock, which is based in Minneapolis, said that Coffin will work with the firm to identify promising investment opportunities, as well as to help advise its existing portfolio companies. Split Rock was an investor in LowerMyBills, which Coffin sold to Experian in 2005 for $38 (More info...)
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3Tera Acquired By Computer AssociatesAliso Viejo-based 3Tera, a developer of cloud computing services and software, is being acquired by CA, CA announced today. Financial terms of the acquisition were not disclosed. According to CA, it will use the acquisition to expand its portfolio of solutions to manage cloud computing. 3Tera develops products which allow companies to provision and deploy private cloud computing. 3Tera was headed by Barry X Lynn.
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Leads360 Links With Mortgage Software FirmLos Angeles-based Leads360 reported today that it has linked its sales lead management software with offerings from web-based mortgage software firm Optimal Blue. Leads360 said that its software--used to manage sales leads from online channels--will help mortgage lenders using Optimal Blue's software to close the gap between leads and revenue. Business details of the integration were not announced. Leads360 is backed by Rustic Canyon Partners, and is headed by Dan Morefield, who was CIO of Overt (More info...)
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Steamboat Boosts Chinese Advertising FirmBurbank-based Steamboat Ventures, the venture capital firm backed by Walt Disney Co., has invested in a Chinese provider of online advertising. According to Beijing-based Yoyi Media, it received a Series A investment on undisclosed size from Steamboat Ventures and Gobi Partners. Yoyi Media provides targeted advertising and demographics to Chinese web sites. Steamboat has offices in Shanghai and Hong Kong in addition to Los Angeles.
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Castle Access Gets Investment For Data CentersSan Diego-based Castle Access, a provider of enterprise data center services, said today that it has received a multi-million dollar, strategic equity financing. The amount of the investment was not disclosed. The firm said the equity funding will go to increase its investments in its data center services, and for infrastructure expansion. Piper Jaffray & Co. advised the firm in the funding. Castle Access said it would provide additional information on the funding in the next 60 days. The firm s (More info...)
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Citrix Acquires Paglo Labs, Launches IT Management ToolSanta Barbara-based Citrix Online, the firm behind the popular GoToMeeting software, said today that it has acquired Paglo Labs, a developer of IT search and management tools, and launched its own IT management platform called GoToManage. Financial terms of the acquisition, which occurred earlier this year, was not disclosed. Citrix said that GoToManage is a web-based platform for monitoring, controlling, and supporting IT infrastructure, and will be targeted at small and mid-sized businesses. P (More info...)
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Citysourced Links With Microsoft, Eyes AwardLos Angeles-based CitySourced, the developer of a mobile tool for helping involve citizens in local government headed by Jason Kiesel and Kurt Daradics, has linked up with Microsoft and its Windows Azure platform, the firms said Tuesday. CitySourced is an angel-funded firm which develops a smart phone application which allows citizens to report potholes, graffiti, and other issues directly to local governments. The firm is using Microsoft Windows Azure for its application infrastructure. In unre (More info...)
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NovaStor Shifts To AgouraBackup software developer NovaStor has shifted its U.S. headquarters from Simi Valley to Agoura Hills, the firm announced this morning. The firm said it outgrew its original location, and came along with new ownership and a 20 percent increase in its staff. NovaStor is managed by here in the U.S. by Mike Andrews; the firm was acquired by Swiss firm Mount10 in 2005.
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Interview with Scott Morrow, CuratemediaLast month, Santa Monica-based ThisNext announced that it was acquiring Stylehive, an online site focused on fashion and beauty. As part of that move, the firm created a parent firm called Curatemedia (www.curatemedia.com), to oversee ThisNext, Stylehive, and other efforts. We sat down with Scott Morrow President of Curatemedia, to hear more about the firm's strategy and the thinking behind the acquisition and new investment in the firm
It's been awhile since we did an in-depth profile on Thi (More info...)
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NTS Expands In California, TexasCalabasas-based National Technical Systems, a provider of engineering services and testing labs, said today that it has expanded in both California and Texas with new facilities. The firm said it has opened a new 30,000 square foot laboratory for climate, environmental, and dynamic product testing in the Bay Area, as well as doubled its laboratories in Plano, Texas, to 50,000 square feet. That lab provides EMI, EMC, and ESD testing services.
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Newport Media Raises $15M MoreLake Forest-based Newport Media, which develops semiconductors for the mobile TV market, announced today that it has raised $15M in a Series D funding round. The round was led by Pinnacle Ventures and also included prior investors Benchmark Capital, Venrock, Global Catalyst Partners, Oak Investment Partners and DAG. The firm last raised a round of funding in 2006. The new round brings the company's total raised to around $81M. According to Newport Media, the new funding will be used for working (More info...)
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CFX Battery Gets $14.2MAsuza-based CFX Battery, a Caltech spinout developing battery systems, is announcing today that it has raised $14.2M in additional funding. The firm said the Series B round came from CMEA Capital, Harris & Harris, Schlumberger and US Venture Partners. CFX Battery is run by Joe Fisher, and was co-founded by Nobel Laureate and Caltech Chemistry professor Dr. Robert Grubbs. The firm said the new round brings its total funding to $29.4M. CFX Battery's Fisher said it will use the new funding to doubl (More info...)
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Evolution Robotics Retail Reports User NumbersPasadena-based Evolution Robotics Retail, the Idealab firm which develops a visual recognition system for preventing bottom-of-the-cart loss at grocery stores, reported today that it has now deployed its systems in over 1,000 U.S. grocery stores. According to the firm, it is now covering over 10,000 grocery store lanes at those stores. Evolution Robotics' system uses visual recognition algorithms to automatically tally grocery items stored at the bottom of grocery store baskets, recognizing thos (More info...)
posted on Wednesday, February 24, 2010(Full story)