NEXT Trucking announces plans to double Southern California workforce, reveals key additions
NEXT Trucking, an LA-based tech startup helping revolutionize the trucking industry, announced several key hires this morning, as well as plans to double its workforce in Southern California. Since closing a $21 million Series B, the company has added six senior-level employees to its roster with plans to add more than 50 employees in engineering, sales, operations and marketing before the end of the year. [NEXT Trucking]
Netflix to raise $1.5 billion for content acquisition
Although the company was founded in Los Gatos more than 20 years ago, Netflix has gradually shifted much of its operations South to Los Angeles over the last decade. On Monday, the company revealed that it would be raising $1.5 billion to help fund its content acquisition, production and development efforts, much of which the company's LA presence is responsible for. Last October, the company raised $1.6 billion for the same purposes and recently revealed its plans to spend nearly $8 billion on content in 2018. [AOL]
Local tech charity scores big donation from anonymous bitcoin philanthropist
human-I-T, a Long Beach-based tech company that connects low-income individuals with nonprofits to provide them with technology, internet access and digital training, received a $250,000 check from a somewhat unexpected source. In December, The Pineapple Fund, created by an anonymous cryptocurrency who goes by "Pine," promised to give away approximately $86 million worth of Bitcoin. Recently, Pine took to Reddit to announce he would be donating $250,000 to the charity. With the money, the company plans to add employees and scale its mission. [Long Beah Press Telegram]
Israeli VC raises $20 million fund with an eye toward LA
Tel Aviv University has established an early-stage venture capital fund with unique ties to Los Angeles. Behzad Klanmahd, co-founder of LA coworking company Cross Campus, was the lead investor in TAU Ventures, which he also co-founded. The fund will focus on pre-seed tech startups. [Press Release]
Saviynt closes $40 million Series A
Saviynt, a West Los Angeles-based startup that develops a suite of governance and intelligence solutions, closed a $40 million Series A eight years after launching. Led by Carrick Capital Partners, the round will allow the company to expand internationally and continue to develop new products. [SoCal Tech]
ICX Media opens Santa Monica office
ICX Media, a Washington, D.C.-based startup that develops a video intelligence platform and creative exchange, announced the launch of its LA presence this week with a new office in the heart of Santa Monica. As a part of the expansion, the company will expand its offerings to work with digital studios and enterprise-level media companies. [Press Release]
