Tech Roundup: Payscout announces good news for e-commerce sites and more

by John Siegel
September 15, 2016

Payscout report shows 92 percent of consumers use online marketplaces

Van Nuys-based Payscout released a report this week that is sure to get entrepreneurs a little excited (if they weren't already). The company, which develops a credit card processing platform for merchants, reported that a survey conducted by Internet Retailer saw 92 percent of respondents noting they'd shopped on Amazon in the past year, with another 72 percent having used eBay over the same period. Of particular note to small and medium e-commerce sites, 65 percent of respondents said they felt comfortable purchasing from merchants they’ve never heard of. [​Press Release]

 

LA Business Portal launches

LA added another resource for local entrepreneurs this week with the launch of LA Business Portal, a one-stop shop for entrepreneurs who aim to create businesses dedicated to streamlining and digitizing existing government services. The Portal is designed to be mobile first, and is also multilingual. [LA Business Portal]

 

World of Warcraft lead announces new gaming studio

The former Chief Creative Officer for Blizzard Entertainment, and the lead designer of World of Warcraft announced the creation of Bonfire Studios, as well as a $25 million round of funding to get things off the ground. The $25 million round of funding came from Silicon Valley-based venture capitalist firm Andreessen Horowitz (a16z) and LA's own Riot Games, which develops another massive online game, League of Legends[Built In LA]

 

DEFY Media scores big Series B

DEFY Media, which was founded in New York City but has headquarters in Los Angeles as well, announced it raised a $70 million Series B round yesterday. The company, which produces video content focused on a millennial audience, plans on using the new funding to aggressively expand its original programming across platforms. [​Built In LA]

 

VCNetwork.co launches mentor program

Irvine-based VCNetwork.co, a database of independent venture capitalists around the world, announced the launch of its mentorship program. Founders Shinta Witoyo Dhanuwardoyo and Jenny Q. Ta will mentor one to two startups a month at no cost. [VCNetwork.co]

 

Fundings of the Week

Digital Map Products$36.3 million

Investors: Silversmith Capital Partners

Irvine-based Digital Map Products, which develops cloud-based products, announced a $36.3 million round of funding this morning. Todd MacLean and Marc Munfa of Silversmith Capital Partners joined DMP's Board of Directors. [Press Release]

 

Vertebrae, $10 million

Investors: Unknown

The Santa Monica-based VR adtech outfit emerged from stealth earlier this week, and once the fog cleared, it was also revealed that the company had a $10 million Series A funding, as well. The company's headset-agnostic adtech platform has been in private beta for some time, generating a significant amount of buzz from the entertainment industry. The startup plans to use the funding to ramp up R&D efforts. [Venture Beat]

 

Images via Facebook, Flickr and Shutterstock

Have a news tip for us or know of a company that deserves coverage? Let us know or tweet us @builtinla.

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