Mon.Apr 08, 2019

CitySourced Merges With Rock Solid Technologies


Los Angeles-based CitySourced , which develops mobile apps to help cities communicate with their constituents, has merged with Rock Solid Technologies , a provider of software to the government. Financial terms of the merger were not announced. Rock Solid is owned by private equity investor Strattam Capital. CitySourced was founded in 2009, and is led by CEO Jason Kiesel.

VC Trends in 2019: More Money, Fewer Deals But Women Still Get Less


If you’ve been following venture capital trends, what you expected to happen in the first quarter of 2019 did: More money is being invested in fewer deals, and women founders still are getting less of it than men. Venture firms sent $32.6

Core Innovation Capital Plans $100M, Third Fund For Fintech Investments


Los Angeles-based fintech venture capital investor Core Innovation Capital is out looking for new investors in its third fund, with a target of $100M, according to regulatory filing by the firm on Friday. The fund--managed by Arjan Schutte and Kathleen Utecht--invests in financial technology companies, and counts such portfolio companise as Fair , Honest Dollar (acquired), CoverHound , Mirador (acquired), Nerdwallet , Ripple , Tio (acquired), and many others.

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GoGuardian Names CFO


Los Angeles-based educational software developer GoGuardian , a developer of. software for the K-12 market, said it has named Mike Jonas its new Chief Financial Officer. Jonas was most recently CFO of ThriftBooks, and also had been at Microsoft for 14 years.

SRAX Runs Into Financial Reporting Issues


Los Angeles-based Social Reality (SRAX), which developing digital marketing and consumer data management software--and more recently, has tried to launch its own cryptocurrency called BIGtoken--said it is restating its results all the way back to March of 2017. According to the company, both its quarterly results and yearly financial statements should "no longer be relied upon", including press releases involving those financial statements.

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HyperX Rolls Out New Gaming Headsets


Fountain Valley-based videogame accessory maker HyperX , which is part of Kingston Technology, has rolled out a new product today, a new set of headsets that it says are the first on the market to ship for less than $100. The company says its HyperX Cloud Stinger Wireless gaming headset and HyperX Cloud Alpha Purple Edition are both now shipping, with up to 17 hours of battery life on a single charge. Both of the headsets will have an MSRP of $99.99.

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Fifth Wall Ventures Gets More Funding in Fund II Aims To Raise $500M


Venice, California-based venture capital investment fund Fifth Wall Ventures , has just received a sizeable commit into its second fund, Fifth Wall Ventures II , according to a regulatory filing by the company. According to the filing, the company now has $468.0M raised out of a $500M targeted fund size, up from an earlier $100M in raised for the fund in June of 2018. Fifth Wall has backed such companies as Clutter, Lime, Opendoor, Classpass, and many others.

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PeerStreet Drops Investment Minimums To $100


Los Angeles-based PeerStreet , the startup which offers up investment opportunities in real estate backed loans, says it has dropped investment minimums on its service to just $100, when used with automated investments. The company says the drop in minimums is aimed at helping its individual investors better diversify their portfolio. PeerStreet has now had over $2 billion in transactions on its platform, as of March, according to the company. The company is venture backed by Andreessen Horowitz.

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SHO Products Raises $3.6M For Cannabis Accessories


Los Angeles-based SHO Products , which is a manufacturer and distributor of products for the growing cannabis (legal marijuana) market, said today that it has raised $3.6M in a Series A funding round. The funding was led by New York philanthropist and venture capital investor Ann Tenenbaum, along with other, un-named investors. According to the company, it will use the funding for marketing and distribution, among other efforts.

MomentFeed Names New VP


Santa Monica-based MomentFeed , which develops software to help multi-location brands manage the mobile experience of their customers, said Monday that it has named Kyle Koch as Global Vice President, Client Success. Koch previously was Associate Vice President at Sprinklr, where he was for six years. MomentFeed said that Koch will be in charge of its success management, training and professional services functions.

Lawn Love Expands In Orange County


San Diego-based Lawn Love , which provides on-demand, lawn mowing and care services, says it has launched its services in Orange County, as part of an expansion effort. Lawn Love says it is backed by such investors as Joe Montana, Alexis Ohanian, Barbara Corcoran, Bullpen Capital, and others, and was part of the 2014 Y-Combinator startup incubator program.

Xperi's HD Radio In Deal With FEMA


Calabasas-based Xperi , which develops software and hardware for the audio, automotive, broadcast, computational imaging, computer vision, mobile computing and other markets, says that one of its units, HD Radio , has inked an agreement with the Federal Emergency Management Agency (FEMA), for a radio notification system. According to Xperi, FEMA will integrate HD Radio's Emergency Alerts feature into its Integrated Public Alert and Warning System (IPAWS) test and demonstration center in Maryland.

Guardion Health Sciences Raises $5.0M In Small IPO


San Diego-based Guardion Health Sciencs , which is developing "condition-specific medical foods and testing technologies" for the ocular health market, has raised $5.0M in a small IPO. The company priced its IPO on Friday, selling 1,250,000 shares of its common stock at a price of $4.00 per share. The company has now started trading on the Nasdaq Capital Market as GHSI. The IPO was managed by WallachBeth Capital and WestPark Capital.