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Nexiant Plans Major Upgrade

socalTECH

The firm said it MRO (Maintenance, Repair, and Operations) software will include ability to control material usage at multiple inventory locations, better visibility and analysis across sites, tools to set up business rules, and more. The entire software will deploy on Microsoft's Windows Azure cloud. READ MORE>>.

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One Recovery Raises $1.49M

socalTECH

Del Mar-based One Recovery , an online community site providing support for people recovering from addiction, has raised $1.49M in a funding round, according to a filing from the firm this week. One Recovery is headed by David Metzler, formerly a venture capitalist at Mission Ventures and investment banker at CIBC World Markets.

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MySpace Startups: Startups From MySpace Vets

socalTECH

Los Angeles-based MySpace has been among the most visible of Southern California's Internet era success stories, although the site--now owned by News Corporation--has had its own share of ups-and-downs, as well as questions about its future. Venture backers : Anthem Ventures, the Mailroom Fund, Rincon Venture Partners.

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Venture Firm: We Missed That Networks In Motion Deal

socalTECH

NIM, which was acquired last week for $170M, had been backed by venture firms Redpoint Ventures, Mission Ventures, and Sutter Hill Ventures. According to OVP's site, it was approached in 2005 by the CFO of a former portfolio company, who had made money for the firm twice before, begging the firm to invest.

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This Week in VC: Michael Montgomery (President, Montgomery & Co.)

Both Sides of the Table

If you don’t know Montgomery & Co it is one of the premier technology & media focused investment banks in the country (and as Michael corrected me they also have a strong Healthcare / Med tech practice). Should you use investment banks to raise venture capital? This is often in the 5-7% range. TechCrunch.

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Venture Conference Highlights SoCal Startups

socalTECH

David Sacks, one of the co-founders of PayPal, pitched Geni.com, an online site focused on both family trees and social networking. The "best of show" prize went to Magnify360, which develops software for optimizing content and web sites for specific users.