Smart office startup Openpath raises big Series B
Openpath, a startup building a tech-powered security alternatives for office buildings, scored a $20 million Series B less than two months after emerging from stealth mode. The round, which was led by Emergence Capital and included follow-on investments from all existing investors, will allow the company to scale its platform and expand its research and development efforts. [Built In LA]
Culver City startup announces major funding, partnership with Viacom
Culver City-based pocket.watch, a startup that develops multimedia content for children, announced this week that it has secured a $15 million Series B round led by Viacom. As part of the deal, the startup will begin collaborating with the media giant on upcoming kid-friendly content and to identify the next wave of talented content creators. Founded in 2017, the startup has previously worked with Viacom on the Keenan Thompson vehicle “Skoogle,” a sketch comedy show slated for Nickelodeon. [Built In LA]
Greycroft closes $250 million fund
Greycroft, a leading venture capital firm with investments in several well-known Los Angeles startups, announced its latest fund this week. Greycroft Fund V — worth $250 million — will focus on smaller seed and Series A round for B2B, B2C and mobile startups. [Press Release]
Joybird acquired by La-Z-Boy
Joybird, an e-commerce furniture startup, was acquired by La-Z-Boy earlier this week for an undisclosed sum. Founded in 2014, Joybird designs and manufactures mid-century modern furniture and, according to La-Z-Boy, generated $55 million in revenue in 2017. [Press Release]
Seismic Games acquired by Pokémon Go developer
Seismic Games, a Culver City-based game developer founded by Activision and Pandemic Studios alumni in 2011, was acquired this week by “Pokémon Go” creator Niantic. Financial terms were not disclosed, but the acquisition will grow Niantic's California team to 300 employees. [LA Biz Journal]
Blast extends its seed round, launches its gaming platform
Newport Beach-based Blast, a gamified savings startup founded by Acorns co-founder Walter Cruttenden, announced the launch of its micro-saving app on the Google Play Store this week. Founded in 2017, the company, which raised a $5 million seed round in March, revealed it had extended the round, taking on an additional $7 million. To date, mobile game developers Zynga, Pocket Gems and Disruptor Beam have all signed on as partners. [Press Release]
