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Playing the Long Game in Venture Capital

Both Sides of the Table

It has historically been the case that VCs would rather fund the promise of 100x in a company with almost no revenue than the reality of a company growing at 50% but doing $20+ million in sales. This is true in consumer but it’s also true in enterprise software. Goliath” mythology take on the titans of industry and wins.

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Beni Raises $5M For Secondhand Shopping Software

socalTECH

Santa Barbara-based Beni, a startup which lets users find and buy secondhand apparel and accessories, said this morning that it has raised $5M in funding. According to the company, the funding was spit between a seed round of $4M, and earlier pre-seed and seed funding.

Software 113
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eyko Raises $2.5M For Data Software

socalTECH

Santa Barbara-based Eyko, a new startup focused on "data preparation, blending, and streaming", says it has raised $2.5M in a Seed funding round, the company announced this morning. The company said its software moves technical data preparation tasks usually performed by IT to non-technical business users.

Software 202
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Investment Group of Santa Barbara Backs Mindflash

socalTECH

The Investment Group of Santa Barbara is the primary backer of a developer of online training software for corporations, which announced a funding round Thursday. Mindflash , a Silicon Valley-based developer of online software for learning management and developing corporate training, said it raised $3.5M READ MORE>>.

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Kevin O'Connor, ScOp Venture Capital, On Startup Success and Investments

socalTECH

This morning's interview is with Kevin O'Connor , a longtime investor and serial entrepreneur, who is now running venture capital investment firm ScOp Venture Capital. Congrats on the new name for your venture capital firm. What types of companies are you making investments in?

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Santa Barbara Investor Puts $4M Into Mindflash

socalTECH

The Investment Group of Santa Barbara , a venture capital investment group based in Santa Barbara, has invested $4M in funding for a developer of a web-based cloud training software firm, Mindflash , Mindflash said today. The firm is led by Donna Wells, the former CMO of Mint.com. READ MORE>>.

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Invoca Claims Record Results, Says It Will Hit $100M Revenues By EOY

socalTECH

Santa Barbara-based Invoca, which develops call tracking and other customer tracking software, says it is on the path towards $100M in annual recurring revenue (ARR) by the end of its fiscal year. The company did not disclose its current revenues, but said it has seen "record growth" in the first half of FY21.