March Capital raises $12M for Xage; Snap syndicates Complex content; Meg Whitman dives into e-sports
Santa Monica-based venture firm March Capital Partners closed a $12 million series A funding round it led for blockchain startup Xage Security Inc. Xage Security, based in Silicon Valley, works on securing technology for connected devices (also known as the Industrial Internet of Things). Socaltech reports this round, which featured four investors is the first March Capital has led for Xage. In the past, March Capital has underwritten funding rounds for technology startups Vyng Inc., Bridg Inc., and Century City-based Get Heal Inc., a mobile healthcare app.
Snap Inc. is expanding the content publishing arm of its Snapchat app., with the addition of new shows from Complex Media Inc. “Sneaker Shopping,” one of Complex Networks’ most popular shows, will receive the Snapchat treatment as of this week, altering its traditional video format to vertical, four-minute clips for distribution via the app’s ‘Discover’ feature. This is the second Complex show to be featured on Snapchat, which Digiday reports does not yet pay licensing fees for the content — instead, it splits advertising revenue generated by the shows with the creators.
The Business Journal reports that former Hewlett Packard Enterprise Co. executive Meg Whitman will join e-sports league Immortals’ board of directors this month, following an investment of an undisclosed sum. Immortals competes in several e-sports tournaments including Nintendo Co.’s Super Smash Brothers, Valve Corp.’s DOTA2, and Tencent Holdings’ Arena of Valor. Whitman said in a press release the investment represented a “unique opportunity” and that she has been intrigued by e-sports for a while.
Tech reporter Samson Amore can be reached at firstname.lastname@example.org or (323) 556-8335. Follow him on Twitter @samsonamore.