A weekly roundup of must-read L.A. tech investments and acquisitions.
$28 million
Type: Equity
Location: Santa Monica
Investors: Led by American Family Insurance, with Richard Branson, Shea Ventures, True Ventures, Upfront Ventures and several angel investors also participating.
Description: Ring manufactures a doorbell with a video camera, speakers and microphone that can be accessed using a mobile app. The company has grown its employee count fourfold in the last year to about 120. It expects to grow to about 200 employees by the end of the year. Founder and Chief Executive James Siminoff said the company will use funds to improve video analytics.
Related: Smart Doorbell Startup Ring Receives $28 Million Round
Undisclosed
Type: Acquisition
Location: Santa Monica
Acquired: Lightt
Description: Though Lightt of San Francisco was acquired in February, multichannel network Mitu only disclosed the purchase this week. Lightt’s video app allows users to capture, edit and share high-definition video on social networks. Mitu announced this week that the Lightt team helped it launch an internal platform to discover, onboard and manage creators and influencers on social networks.
Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
