A weekly roundup of must-read L.A. tech investments and acquisitions.
$18 million
Type: Equity
Location: Venice
Investors: Led by Norwegian firm Northzone, with participation from Korea Investment Partners, Upfront Ventures, Sunstone Capital and Daher Capital
Description: Seriously raised an $18 million round to ramp up production for two more games based on its Best Fiends offering and for marketing. Mobile puzzle game Best Fiends has been downloaded 15 million times and is played on average by 1.3 million people for about 850,000 hours of daily game play, the company said. The app, which launched 10 months ago, has generated about $11 million in revenue, with from 20 percent to 25 percent coming from advertisements and the rest from in-app purchases, said Chief Executive Andrew Stalbow.
Related: Seriously Raises $18 Million for Best Fiends Franchise
Undisclosed
Type: Equity
Location: Beverly Hills
Investor: Hubbard Radio
Description: Hubbard Radio, a St. Paul, Minn., radio station owner and operator, purchased a 30 percent stake in podcast advertising network PodcastOne. Terms of the deal were not disclosed. PodcastOne’s network includes more than 200 podcasts hosted, many by celebrities or repurposed talk radio programs. The company claims its network delivers more than 400 million impressions per month. Brand marketing now makes up 40 percent of the network’s sales and is expected to grow beyond 50 percent, said Chief Executive Norman Pattiz.
Related: Hubbard Radio Takes 30 Percent Stake in Podcast Network
$12 million
Type: Equity
Location: Beverly Hills
Investors: Led by TVC Capital with participation from existing investors Barshop Ventures and Media Platform Chief Executive Jim McGovern
Description: Branding itself as the “enterprise YouTube,” MediaPlatform provides video streaming and webcasting software for corporate training and communications. The platform integrates with other systems, such as Microsoft SharePoint, Cisco WebEx, Salesforce and Yammer. The company said its customers include Abbott Laboratories, ConocoPhillips, Facebook and General Motors. The investment will be used to ramp up sales and marketing.
$8 million
Type: Equity
Location: Walnut
Investors: Sequoia Capital India and Accel Partners
Description: WizRocket, based in Walnut and India, makes mobile app analytics and engagement improvement software. The software helps mobile app developers and marketers improve user conversion and retention rates. The company will use the funding to develop an API.
$6 million
Type: Equity
Location: Century City
Investors: Run Capital
Description: AdtoApp’s automated online advertising service allows app publishers to serve ads via multiple advertising networks. AdtoApp matches app publishers with advertising bids across more than 20 networks, optimizing advertisement placement to increase the app publisher’s revenue.
$1.3 million
Type: Equity
Location: Mid-Wilshire
Investors: Undisclosed
Description: Storage company Clutter’s app sends employees to pack customers’ items, which are then delivered to a secure warehouse. Clutter charges a fee for pickup and delivery. The company raised a $2 million seed round in May led by Resolute Ventures, with Amplify.LA, Joanne Wilson, David Sacks, Matt Coffin, and other undisclosed investors participating. The latest investment will be used to expand the service to San Francisco.
Related: Storage Firm Locks Down Item Location
Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
