Tech accelerators in Silicon Beach such as Amplify.LA have done their best to fortify and bolster the local technology industry over the last few years by providing new companies with seed money, office space, mentorship, and networking with VCs and other entrepreneurs.
Now, a feedback loop has started to form, with entrepreneurs who joined accelerators in the early part of the decade and since led their companies to exits emerging once again to launch startups.
One such company is Culver City’s Replicated Inc., co-founded in September by Grant Miller and Marc Campbell. The pair founded Look.io, a mobile chat service that was the first business accepted into Amplify’s accelerator back in early 2012. By that June, the company had been acquired by New York’s LivePerson Inc. in a sub-$10 million deal.
Now, Miller and Campbell are back at it with Replicated, a startup that helps enterprise companies tailor cloud-based software to suit their needs.
Replicated closed a $1.5 million seed round last month, led by New York’s Boldstart Ventures. Local firms TenOneTen Ventures and Mucker Capital also participated in the round, as did local angel investor Tom McInerney and Amplify Managing Partner Paul Bricault, among others.
“There’s a very strong mentoring community in L.A.,” said Miller when asked what made him want to stick around. “It’s very collaborative. We happened to have great people that can build the stuff here, so we don’t have to be in San Francisco.”
And what did they learn from their first go-round?
“I don’t think we ever expected that we would be able to build things that millions of people were using, and we did that with our first company,” said Campbell. “It’s sort of recognizing that you can build amazing things if you set out to do it in the first place.”
One Santa Monica app maker is trying to make it a whole lot easier for TV, music and sports fans to legally share their favorite clips and highlights with friends online. And venture capitalists are betting they’ll be able to pull it off.
Whipclip just raised $40 million in a Series C financing round led by New York’s Eminence Capital, which has also taken a seat on Whipclip’s board.
Downtown L.A. venture capital firm Greycroft Partners also participated in the round, as did talent agency William Morris Endeavor and law firm Ziffren Brittenham, two major Hollywood players that have invested in several entertainment-related tech companies over the past year.
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