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Clapit Raises AU$2.57M

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Los Angeles- and Sydney, Australia-based Clapit , a startup developing a social media crowdsourcing app, said it has raised AU$2.57M ($1.94M US), to bring its mobile app to market. The seed funding came from Australia angels Mark Moran and Paul Siderovski. Clapit, which says it is based in Sydney and has its U.S.

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CrossCut Ventures Raises New, $75M Venture Fund

socalTECH

Venice, California-base CrossCut Ventures , one of the region's earliest believers in the potential of Silicon Beach startups, has raised a new, $75M fund, the firm announced this morning. Managing Directors of the new fund are Rick Smith, Brett Brewer, and Brian Garrett, along with new addition Clinton Foy. READ MORE>>.

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