Velocity Services Gets $6.8M

Velocity Services, and El Segundo-based firm which operates IPDG (Interactive Digital Publishing Group), an operator of consumer portals and other online properties, has quietly raised $6.8M in venture funding. The funding was disclosed in this week's PricewaterhouseCoopers/NVCA MoneyTree report. No details on the firm's investors has been announced, however the firm's board includes Eric Chen and Dr. Francis Chen of WI Harper. Velocity Services owns and; the firm's CEO, Jay Penske, co-owns the NASCAR Luczo Dragon Racing Team with Seagate Chairman Stephen Luczo. More information »