Friday, October 18, 2013CrossCut Ventures Gets Credit FacilitySanta Monica-based CrossCut Ventures, the venture capital investment firm founded by Rick Smith, Brian Garrett, and Brett Brewer, has received a new credit facility from Square 1 Bank, Square 1 announced this week. Size of the credit facility, and terms, were not announced. Neither CrossCut Ventures nor Square 1 Bank disclosed what CrossCut would be doing with that new source of funding, expect CrossCut said it expected the line to help it "smooth out timing differences" for its LP calls. Ventur (More info...)
posted on Friday, October 18, 2013(Full story)
StoryBots Gets Into Halloween Spirit With New AppStoryBots, the kids' mobile app developer, has gotten into the holiday spirit, and has just released a new, Halloween-themed app called A StoryBots Halloween. The free, iOS app incorporates the personalized, animated technology from JibJab (which it calls Starring You Video)--which inserts the head of you, your friends, and your kids into hilarious videos. Venice, California-based StoryBots--which develops fun learning apps for kids--said that the new app lets users upload up to five photos, tur (More info...)
posted on Friday, October 18, 2013(Full story)
Western Digital Completes Virident BuyIrvine-based storage products maker Western Digital said late Thursday that it has completed its acquisition of Virident Systems, the provider of flash-based storage products. The acquisition deal is worth $685M. WD had announced the acquisition last month. Virident becomes part of Western Digital's HGST subsidiary. Virident is one of two companies in the solid state storage market that Western Digital has acquired recently; the company also recently acquired solid state disk drive developer sTE (More info...)
posted on Friday, October 18, 2013(Full story)
Triton Digital Signs Accordant MediaLos Angeles-based Triton Digital, the provider of streaming audio advertising technology, has signed up media trading buyer Accordant Media as a partner, the two said yesterday. The companies said that Accordant Media's customers can now use its real-time audience buying technology across Trigon Digital's global inventory, giving Accordant access to audio from such publishers as Entercom, CBS, Univision, and others. Financial details of the deal were not disclosed. Triton Digital audio advertisi (More info...)
posted on Friday, October 18, 2013(Full story)
Yardi Wins The Presidio TrustSanta Barbara-based property management software developer Yardi reported a win Thursday with The Presidio Trust, the federal agency in charge of the Presidio in San Francisco. According to Yardi, The Presidio Trust will use its property management software, Yardi Voyager, to manage the finance, assets, and maintenance for the 1,200 housing units and to manage the leases for the 225 commercial organizations in the Presidio. Financial impact of the customer win was not disclosed. Yardi develops a (More info...)
posted on Friday, October 18, 2013(Full story)
Federal IT Provider Sets Up Shop In San DiegoA Fairfax, Virginia-based provider of information technology service to the federal government said today that it has set up a new operations center in San Diego. According to Salient Federal Solutions--which says it provides information technology, training, engineering, and intelligence analytical services for agencies in the intelligence, defense, homeland security, cyber security, and federal civilian markets--said the new "Talent Operations Center" will help identify and qualify talent for (More info...)
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Southern California Tech Companies Raise $709.8M In Q3
Southern California technology companies raised $709.8M in venture capital in Q3, according to the latest numbers from the MoneyTree Report from PricewaterhouseCoopers LLP and the National Venture Capital Association, based on data From Thomson Reuters. The amount raised in the region was up from Q2, when $627.4M was raised in the area, and slightly lower than Q3 of 2012, when $724.9M was raised in venture capital.
Los Angeles led the region in investments, with $348.6M in investments; San (More info...)
posted on Friday, October 18, 2013(Full story)