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Looking to take your idea to the next level? You might be in luck.
Science Inc., a Santa Monica-based startup studio that builds, buys and incubates companies, announced today it received $20 million in debt-financing from Silver Lake Waterman.
Science CEO Mike Jones said the company hopes the growth financing will ultimately help increase its portfolio, which includes the acquisition of 37 companies created inside and outside the studio since 2011.
“[The funding] helps us scale some of our internal companies that can use additional capital to grow; it will help us seal a few more investments or acquisitions we want to do,” Jones told Built In LA. “Hopefully, it will keep allowing us to grow our overall portfolio.”
The debt-financing round comes at a time when Jones said Science is focused largely on the mobile sector. The round follows two equity-based rounds – one in 2013 worth $30 million, and a seed round in 2011 worth $10 million.
Silver Lake Waterman is part of Silver Lake, a tech investment firm that possesses more than $23 billion worth of assets, according to the press release.
“Science has built an impressive portfolio and a unique technology platform to create and scale successful media and e-commerce brands,” Shawn O’Neill, managing director and co-head of Silver Lake Waterman said in a statement. “We’re excited to partner with the team at Science and help position the company for continued innovation and further expansion in fast-growing verticals like mobile content and marketing.”
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