SAN FERNANDO VALLEY
Growth Capital: FilmTrack, a content and rights management firm in Studio City, has raised $10 million in funding. The investment comprises $5 million in venture debt financing from Toronto’s Wellington Financial and $5 million in debt financing from Sherman Oaks’ Silicon Valley Bank. FilmTrack said the money would go to boosting production and expanding its market reach.
Real Estate Pickup: Woodland Hills real estate brokerage Century 21 Peak, part of the Peak Corporate Network group of companies, has acquired Granada Hills brokerage Century 21 All Moves and its affiliated real estate school and escrow company. Financial terms of the deal were not disclosed. The acquisition is part of Peak’s five-year expansion plan for Los Angeles.
Series A: Agoura Hills’ Hixme Insurance Solutions Inc. has raised $10.4 million in a Series A round led by Kleiner Perkins Caufield & Byers, a Menlo Park venture capital firm. Hixme offers a technology-enabled platform to help employers move from employer-owned group benefits programs to market-based private programs where employees can tailor coverage to fit their needs. Hixme plans to invest the money in operational growth to advance its technology development and national marketing.
Office Acquisition: Woodland Hills’ Adler Realty Investments Inc. has purchased a Calabasas office building at 23901 Calabasas Road for $24 million from Century National Properties Inc. of Santa Monica. The buyer plans to renovate the 100,000-square-foot, two-story property, which dates to 1983 and was last renovated in 2001, upgrading the lobbies, common areas, landscaping and interior courtyard. The building was 95 percent leased at the time of sale.
Pushing Buttons: Skurt, a Los Feliz app maker, has raised $1.3 million in equity funding from Santa Monica’s Upfront Ventures and a range of tech sector executives. Skurt’s app allows customers to order rental cars, which are driven to wherever they are by an employee of the company. Skurt gets cars from independent car rental businesses with excess inventory and rents them out at prices typically lower than traditional rental services.
Sorted Out: Clearlake Capital, a Santa Monica private equity firm, has agreed to acquire Syncsort Inc., a Woodcliff, N.J., software firm focused on data processing and analysis. Financial terms of the deal were not disclosed.
Equity Stake: InvestCloud, a Beverly Hills maker of custom cloud-based applications for financial advisers, family offices, hedge funds and wealth management firms, has sold a $45 million equity stake to San Francisco’s FTV Capital. InvestCloud said it will use $15 million to expand operations in Europe. The remaining $30 million will go toward buying out stock held by management and other investors.
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