Tuesday, August 23, 2011PathCentral Raises $3.0MIrvine-based PathCentral, a developer of web-based software for managing the practice of community pathologists, has raised $3.0M in a funding round, according to a regulatory filing by the firm Tuesday. Details on the funding have not yet been announced by the company. PathCentral is venture backed by Okapi Venture Capital, Arboretum Ventures, and Baird Venture Partners. The firm last announced a round in November of 2010, when it raised $10M in a Series B funding.
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Inphi Sees Delays, Slowing OrdersInphi Corporation, the manufacturer of high speed analog semiconductors which has major operations in Westlake Village, said Tuesaday afternoon that the company has revised its business outlook, due to delays in shipments and slower-than-anticipated rate of orders. The firm, which is headquarter in Santa Clara, said that "due to industry events outside of its control", it expects its volume production for its iMB products will "likely slip into next year." Among other factors, the company said (More info...)
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Los Angeles Stacks Up Inc. 500 FirmsThe latest ranking the fastest growing companies in the nation by Inc. magazine, has 42 companies in the Los Angeles area on the list. The Los Angeles metropolitan area was ranked just behind Washington, D.C. (50 Inc. 500 companies) and New York City (42 companies) in the Inc. 500 listing, well above San Francisco (19 companies). The highest ranking firm on the list in the area was PaymentMax, an electronic payments processor in Thousand Oaks, with 10,058 percent growth over 3 years; among many, (More info...)
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PBS Biotech Acquires Integrity CMICamarillo-based PBS Biotech, a developer of bioreactors for the biotech market, said Tuesday that it has acquired Camarillo-based Integrity CMI, a medical device design and manufacturing companies. Financial terms of the deal were not disclosed. PBS Biotech said Integrity CMI has expertise in the design, assembly, testing, packaging and sterilization of medical devices and biotech products. PBS Biotech's co-founders are Dr. Brian Lee, a former bioprocess scientist from Amgen and Merck, and Dr. (More info...)
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Newegg Names New CFOCity of Industry-based Newegg, the online electronics and technology retailer, said Tuesday that it has named Robert Bellack as the firm's new CFO. Bellack joins the firm from Zetabid.com, where he was founder and CEO. Bellack has also served as CFO and SVP of LA Times Media Group, and also has served at Classified Ventures and Compton's New Media. Newegg.com is an online retailer of computer and other technology products.
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Xirrus Gets DoD CertThousand Oaks-based Xirrus, the developer of switching, wireless network access points, reported Tuesday that it has been granted a certification from the U.S. Department of Defense. The firm said its XN8 Wi-Fi Array was certified both with interoperability with defense networks, as well as cryptographic module support. The government market is one of the areas Xirrus has been targeting with its products, which differ from standard Wi-Fi access points by the support for more clients, greater ban (More info...)
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TrueCar Buys Automotive Information Firm ALGSanta Monica-based TrueCar, the online publisher of new and used vehicle pricing that is headed by Scott Painter, said Tuesday that it has acquired ALG, Inc., a subsidiary of DealerTrack Holdings. ALG is a provider of automotive residual value information. Financial terms of the acquisition were not disclosed, however, TrueCar said that DealerTrack will receive an equity interest in TrueCar as part of the deal. ALG is based in Santa Barbara, where it will continue to be headquartered. As part of (More info...)
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Mobile Roadie Ties With UstreamLos Angeles-based Mobile Roadie, the mobile marketing app developer focused on brands, has tied with video broadcasting and streaming firm Ustream, the company announced Tuesday. Mobile Roadie said it will offer up its solutions to Ustream broadcasters looking to create their own mobile apps. Financial details of the deal were not disclosed. Mobile Roadie said its self-service app offering will allow Ustream broadcasters to feature their Ustream live channel to mobile users. Among applications p (More info...)
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MP3tunes Gets Win Over EMISan Diego-based MP3tunes, the cloud music storage service run by Michael Robertson, has scored a win over EMI, according to Robertson. Robertson called it a "99% Victory" over EMI in the case, after a judge found that the service did not violate copyright laws when it stored a single copy of MP3 files on a server, rather than storing separate copies for useres on the service. MP3tunes offers up an online service where users could upload their own, personal MP3 files, and then stream those files (More info...)
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Mindspeed Loses VPNewport Beach-based semiconductor firm Mindspeed Technologies reported today that its Senior Vice President and General Manager, High-Performance Analog, Kurt F. Busch, has resigned. Reason for the resignation was not given by the company. Mindspeed said that Busch will be replaced by Najabat Bajwa, currently the company's Senior Vice President and General Manager, Lightspeed Connectivity Solutions.
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Specific Media Names New Marketing VP For MySpaceIrvine-based Specific Media is bolstering its marketing team for MySpace, the company announced today, and has appointed Al Dejewski as its new Senior Vice President of Global Marketing. Specific Media said Dejewski will head up marketing for MySpace, as well as the company's other consumer and business facing brands. Dejewski joins the company from Turner Entertainment Marketing, where he was overseeing strategic marketing for TBS, TNT, and truTV. Dejewski also has served at PepsiCo, where he l (More info...)
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eHarmony Approaches Redemption Deadline, Says ReportLos Angeles-based matchmaking site eHarmony is approaching a redemption deadline from its last venture funding round, according to a report today from Reuters. According to the report, eHarmony has a November 5th deadline, after which its venture backers--including Technology Crossover Ventures and Sequoia Capital--will be able to exercise a clause which would force eHarmony to buy back their preferred shares, matching the original investment by those firms in the company or an agreed-upon price (More info...)
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Southern California Gas Invests In Fuel Cell Energy FirmSouthern California Gas Company the unit of Sempra Energy which supplies natural gas to Southern California, has backed the manufacturer of natural gas, fuel cell equipment. According to ClearEdge Power, it has raised $73.5M in a Series E financing round, which included Southern California Gas Company, and was led by Artis Capital Management. Other investors include Gussing Renewable Energy and Kohlberg Ventures. ClearEdge Power is the maker of fuel cell equipment, which converts natural gas int (More info...)
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Qualcomm Backs Mobile EKG FirmSan Diego-based Qualcomm Ventures has backed the developer of a mobile electrocardiogram recorder, AliveCor, as part of that company's Series A round. AliveCor said today that it has raised $3M in a Series A for its products, which connect iPhones, iPads, and other smartphones and tablets to EKG data. The round was led by Burrill & Company, and also included Qualcomm and the Oklahoma Life Sciences Fund. AliveCor's device--the size of a credit card--allows smartphoens and tablets to become low-co (More info...)
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Active.com Launches iPhone App For RunnersSan Diego-based Active.com, the online fitness site run by Active Network, announced this morning that it has launched a new, iPhone application. Active. com said its new Active.com Couch-to-5K Running Plan application, avaliable in the iPhone App store, costs $1.99 and helps get people "off the couch and onto the roads." The new app letes runners track their route and distance via GPS, among other features to motivate runners. Active.com said it will also offer up discounted 5K race registratio (More info...)
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Kofax Gets $40M In Line of CreditIrvine-based Kofax plc, the provider of document capture and processing products for business process automation, said today that it has entered into a new, three year $40m revolving line of credit. The new credit line comes from Bank of America Merrill Lynch. The firm said the new line replaces an earlier, $16M credit line from another bank, and will be used for working capital and growth.
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FreeConference.com Adds Personalized GreetingsLos Angeles-based FreeConference.com, a free conference calling service, said this morning that it has added a new feature. The service said that users can now include their own, custom greetings for their conference calls, welcoming participants to a conference. FreeConference.com offers up a free, conference calling service. The company said the new feature costs $1.99 a month or $6.99 for six months, and is one of several new features being added to the service.
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SRS Labs Gets Win In IndiaSanta Ana-based SRS Labs, the developer of surround sound and other audio processing technology, reported this morning that it has scored a win in the Indian market. The firm said it has signed a deal with Spice Mobility, an India-based mobile brand, to incorporate its SRS WOW HD audio enhancement technology in that firm's feature phones. Financial details of the win were not disclosed.
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