Series B: Convertro, which provides a platform for clients to track online and traditional media ad campaigns, has closed a $5 million Series B funding round, led by Bessemer Venture Partners in Menlo Park and Palo Alto’s DAG Ventures. The money will go to ramping up Convertro’s sales and marketing operations in New York and abroad.
Industrial Acquisition: Contempo Floor Coverings Inc. has purchased a Westwood industrial building for nearly $4.23 million from Benmak LLC. The 11,450-square-foot property, at 1888 S. Sepulveda Blvd., was built in 1953. Contempo plans to move into the building in two to three months.
MARINA DEL REY
Marketing Money: Tongal, a Marina del Rey marketing firm that uses a crowdsourcing network to create campaigns for clients, has raised $15 million in Series B funding from Insight Venture Partners, a New York private-equity firm. Tongal will use the money to expand its service.
DOWNTOWN LOS ANGELES
New Outpost: Start Engine, a Westwood accelerator, has opened its second Los Angeles office. The new downtown outpost, at 1010 Wilshire Blvd., will target Eastside clients. Accelerators provide seed funding, mentorship and work space to startups for a short period – usually about three or four months – in exchange for a small stake in the company.
Software Investment: Marlin Equity Partners LLC, a Hermosa Beach investment firm, has acquired Verisae Inc., a Minneapolis maker of management software for grocery, food service and specialty retail businesses. Verisae’s software helps clients with manage energy costs and meet environmental regulations. Financial terms of the deal were not disclosed.
SAN FERNANDO VALLEY
IT Assistance: Infinite Computer Group LLC, a Chatsworth information technology firm, has been acquired by Systems Maintenance Services Inc., a Charlotte, N.C.-based provider of IT services. The deal for Infinite will expand SMS’ reach on the West Coast. Financial terms of the deal were not disclosed.
Accounting Merger: The Glendale office of PKF California has merged into accounting firm Hutchinson & Bloodgood LLP, also in Glendale. With the deal, Hutchinson adds financial and consulting services for the hospitality and leisure services industry, a specialty of PKF California. Hutchinson had already been a member of the PKF North American and PKF International networks of independent accounting firms.
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