[ibimage==37123==Original==none==self==ibimage_align-center]AssetAvenue co-founders David Manshoory, Kevin Arrabaca and Chris Ganan
LA-based AssetAvenue announced as part of 2015 REach accelerator class
Chicago-based tech accelerator REach announced April 22 its upcoming class today. Seven companies will make up the new class, including LA-based AssetAvenue, an online peer-to-peer lending platform for the commercial real estate industry. [Built In Los Angeles]
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DogVacay launches new Daycare service
DogVacay the leading online and mobile pet-sitting and services community, announced the launch of Daycare, its newest offering in its suite of pet care services. For pet owners, Daycare offers a trusted and safe way to ensure pets are cared for while they are at work, school or away from home for an extended period of time during the day.
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Bitium launches in Google Apps Marketplace
Bitium, a Santa Monica-based provider of cloud-based identity and access management solutions, announced it is now available in the Google Apps Marketplace, Google's online storefront for Google Apps for Work products and services. The Bitium app gives Google Apps administrators the ability to manage all of their business’ apps users and groups in one place, leveraging the Google Apps user directory.
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Snapchat halts Brand Stories
Brand Stories, Snapchat’s initial advertising product, has been shelved. A spokeswoman said last week the pause in production of Brand Stories is part of an overarching attempt to improve user experience. Brand Stories were launched in Oct. 2014. [Snapchat Presses Pause on First Advertising Product: Los Angeles Business Journal]
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Switching Concepts acquired by X5 Solutions
X5 Solutions, a privately held company offering a complete suite of custom telecommunications solutions, has completed its acquisition of Switching Concepts, a provider of turnkey switching services. Headquartered in Santa Monica, Calif., Switching Concepts offers wholesale telecommunications providers advanced switching platforms and 24/7/365 monitoring of their network elements for uptime, availability and operability on hardware and application layers.
[ibimage==37127==Original==none==self==ibimage_align-center]Shutterstock
Digital Cinemas Systems acquired by Hollywood Software
Woodland Hills-based Hollywood Software has acquired Digital Cinema Systems Inc. Through the purchase, Hollywood Software will access Digital Camera Systems’ FilmStore, which plays back motion pictures. [Hollywood Software Acquires Digital Cinema Systems: L.A. Biz]
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Wallaby Financial launches Apple Watch product
Wallaby Financial, the leader in mobile and web-based credit card optimization solutions, announced the launch of Wallaby for Apple Watch. The new application will allow Apple Watch users to optimize credit card rewards for each purchase with a simple tap of the wrist. Users will be able to download the app immediately upon unboxing their new Apple Watch, and can access it for free by creating a Wallaby account.
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Twigtale raises $1M
Twigtale, a Los Angeles-based service that assists parents in concocting books tailored to their kids, announced this week it raised a $1 million seed round. HBS Angels and Tech Coast Angels led the funding, and Larry Paige, Lucy Southworth, Anne Wojcicki, Wendi Murdoch and Ivanka trump contributed, as well. [Twigtale Finds $1M For Personalized, Therapeutic Books: Socaltech.com]
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Pledgeling raises $4.1M in seed money
L.A.-based startup Pledgeling, whose mobile app allows users to make donations starting at $5 to charities of choice, raised $4.1 million in seed money. Double M Partners invested in Pledgeling, as well as Vanna White and Chris Harrison. [Pledgeling Raises $4 Million to Help Donors Give More easily Via Mobile: The Wall Street Journal]
[ibimage==37132==Original==none==self==ibimage_align-center]Shutterstock
3DR increases Series C funding to $64M
3DR, North America's largest manufacturer of consumer drones and founder of the world's leading open drone software platform, today announced an expansion of its Series C round of financing from $50 million to $64 million. The additional funding is led by WestSummit Capital, with additional global investors from Asia, Europe and the U.S. participating, including SanDisk Ventures and Atlantic Bridge Ventures. 3DR initiated the Series C financing with $50 million in investment led by Qualcomm Ventures, with Foundry Group, True Ventures, OATV, Mayfield, Shea Ventures. 3DR will leverage the expertise and market knowledge from a diverse investor base to lead innovation in the dynamic and rapidly expanding global UAV market.
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