LA tech roundup: Local investors buy e-sports team, InvestCloud gets $45M, & more

by Patrick Hechinger
October 15, 2015


LA tech investors purchase e-sports team

A group of investors, including CrossCut Venture's Clinton Foy, Lionsgate Interactive Ventures and Games Peter Levin, Machinima Chairman Allen DeBevoise, March Capital Partners Managing Director Gregory Milken and Honest Co. Chief Executive Brian Lee, have purchased Team 8, a world renown League of Legends team for an undisclosed amount. [L.A. Investors Buy League of Legends E-sports Team: LA Business Journal]



Google acquires Divshot

LA-based Divshot, a static web page host for developers, was purchased by Google this week for an undisclosed amount. The company will join Google's Firebase software development team and will shut down its products and services by December 14th. [Divshot Acquired By Google: SoCal Tech]



ChowNow partners with Uber

ChowNow, the LA-based online ordering and marketing platform for restaurants, is partnering with Uber's on-demand delivery service, UberRUSH, to provide their restaurant clients with an easy-to-integrate “delivery as a service” solution. The service will cut down on delivery costs and logistics for restaurants. The service is launching in New York, San Francisco, and Chicago and will be coming to LA in the near future. 



Snapchat ditches their original content 

The Venice-based company has shut down its original content studio and have subsequently laid off the 15 people (who had moved into a new Marina Del Rey office a few weeks ago) working on the "Snap Channel." Former Fox SVP of Comedy Marcus Wiley was leading the project that only lasted for nine months. [Snapchat To Shut Down Snap Channel, Laying Off Team, Changing Content Plans: Deadline]




InvestCloud, $45 million

Investors: FTV Capital

LA-based InvestCloud, a client-facing cloud-based software for investment advisors, will welcome FTV Capital's Richard Garman to its board of directors. The company had previously raised a total of $9 million since their seed round in 2010. [Money Manager Platform InvestCloud Raises $45 Million: LA Business Journal]

FilmTrack, $10 million

Investors: Wellington Financial and Silicon Valley Bank

The Studio City-based developer of content rights and management software has now raised $40 million since 2013. CEO and co-founder Jason Kassin says the funding will be used for acquisitions and to scale the company overseas. [The SaaS behind the scenes: FilmTracks role in the entertainment ecosystem: Built In LA]

FabFitFun, $3.5 million

Investors: New Enterprise Associates and Upfront Ventures

FabFitFun, the curated seasonal subscription box company for women, announced the company's first round of funding this week. According to their CEO Daniel Broukhim, the company has grown 300% year-over-year and has quadrupled their box count since last summer. [FabFitFun tallies $3.5M for curated lifestyle boxes: Built In LA]

Service, $3.1 million

Investors: Founders Fund

Service is an LA-based startup that is offering to make those obnoxious customer service calls for you. The company, founded a few months ago, will be offering their service for free until the end of the year. [Sick of calling customer service? Newly funded L.A. start-up will handle it for you: LA Times]

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