Ring acquires smart lighting company
Santa Monica-based security startup Ring reached all the way out to Ohio to make its first-ever acquisition this week, coming to terms with Mr. Beams, a smart lighting company headquartered in Cleveland. Financials were not revealed, but with the exit, the burgeoning tech community plans to leverage the expertise of both companies to integrate smart, energy-efficient lights for illuminating pathways, decks and other areas. [Cleveland.com]
Dodgers, R/GA announce new sports venture studio
The Los Angeles Dodgers announced this week that the team, along with partner R/GA, will be launching Global Sports Venture Studio, a sports-centric venture effort that will focus on sourcing and investing in startups. According to the press release, the new studio will be based on the Dodgers Accelerator programs the team has conducted with R/GA. [Press Release]
Jaanuu adds veteran CMO, announces new investors
The upward trajectory of El Segundo-based e-commerce startup Jaanuu does not appear to have abated following the close of 2017. Last year, the company scored a $5 million round of funding on the heels of some impressive numbers, and this week, the company had more news to share. Dave Beveridge, a veteran e-commerce marketer, is joining the startup as the company's first chief marketing officer. Beveridge comes to Jaanuu from LA-based Whipclip, where he served as the vice president of marketing. Additionally, founder and CEO Shaan Sethi reported that the brand had added e-commerce company Olukai's co-founder Matt Till and current CEO Jim Harris to its list of investors, but did not reveal the duo's respective contributions. [Press Release]
Evite surpasses a big milestone
Last year, Built In LA published a story in which Pledgeling CEO James Citron and Evite CEO Victor Cho talked about the partnership between the two startups, developed in order to raise more than $1 million for charity. Almost one year to the day later, the Evite is reporting that its charitable contributions have exceeded the $5 million mark, supporting disaster victims, food banks and the ASPCA, among other charitable causes, in the process. [Press Release]
GameMine and Nickelodeon announce new deal
Santa Monica-based GameMine, a monthly subscription service for its portfolio of mobile games, announced a partnership with kids media company Nickelodeon. As a part of the deal, GameMine will begin featuring all of Nickelodeon's mobile game catalog, including SpongeBob, Teenage Mutant Ninja Turtles and Nick Sports titles. Presently, GameMine has partnered with Swisscom, Moviestar, Orange, A1 and Vodafone to provide subscribers with a growing catalog of premium mobile games. [Press Release]
CryptoWallet IRA launches Bitcoin trading platform
Woodland Hills-based CryptoWallet IRA officially announced the launch of a new platform today that will allow anyone with a 401(k) and/or an IRA to to buy and sell Bitcoin just as they would with stocks. The company also announced it had partnered with BitGo to make every investment secure. [Press Release]
Fundings of the week
Neural Analytics, $15 million
Neural Analytics, a startup that builds a system that measures and diagnoses brain health, officially announced the close of a Series B, bringing in $15 million that will help the company continue its efforts to commercialize its product in the U.S. and Europe, as well as to scale its team. [Built In LA]
REX Real Estate, $15 million
REX Real Estate, a Woodland Hills-based startup that uses machine learning and AI to streamline the home buying process, announced this week the close of the company's Series B. Sun Microsystems (acquired by Oracle for $7.4 billion) co-founder and former CEO Scott McNealy, Best Buy founder Dick Schulze, Crate & Barrel founder Gordon Segal, former senior vice president of search at Google, Amit Singhal, and Jack Greenberg, former CEO at McDonald's all participated in the Series B, which will allow the company to deploy in new markets around the country. [Built In LA]
ObEN, $10 million
ObEN, a Pasadena-based artificial intelligence company that creates virtual identities of consumers and celebrities to interact with, added a $10 million investment from entrepreneur Adrian Cheng's investment firm, K11. The funding, which brings the company's total to $23.7 million, will allow them to drive product development and integrate their technology in retail, real estate and hospitality applications. [Press Release]
