A weekly roundup of must-read L.A. tech investments and acquisitions.
FreedomPop
$50 Million
Type: Equity
Location: West Los Angeles
Investors: Undisclosed
Description: The funding, which comes just six months after the company raised a $30 million Series B round, will be used to expand FreedomPop’s wireless services throughout Europe, Asia and South America. FreedomPop, through its proprietary SIM card, offers free voice and data cell phone service up to a point, then charges for additional usage or services such as a second phone number or anonymous Web browsing. The company also generates revenue by selling cell phone devices.
Related: FreedomPop Raises $50 Million
Naritiv Inc.
$6.3 million
Type: Equity
Location: Downtown
Investors: 32 undisclosed investors
Description: Naritiv raised $6.3 million from 32 undisclosed investors, according to a filing with the Securities and Exchange Commission. Naritiv sells sponsorships to brands on behalf of a network of Snapchat stars. The company graduated from the Disney Accelerator in 2014 and its backers include Greylock Partners, Mucker Capital and Richard Wolpert.
CapLinked
$3.5 million
Type: Equity and debt
Location: Redondo Beach
Investors: The round was led by Subtraction Capital with participation from Peter Thiel and Indicator Ventures. Venture debt was provided by Western Technology Investment.
Description: CapLinked’s cloud-based software facilitates document sharing for the financial industry. The funds will be used for sales and marketing efforts to accelerate the company’s growth.
Internet Brands
Undisclosed
Type: Acquisition
Location: El Segundo
Purchased: Demandforce
Description: Mountain View’s Intuit bought Demandforce in 2012 for $424 million, but is selling the division as part of a corporate reorganization effort. The price for which Internet Brands purchased Demandforce was not disclosed. Internet Brands is aiming to vertically integrate Demandforce’s small business email marketing and patient scheduling platform with its health care lead-generation websites.
Related: Internet Brands Buys Demandforce
Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.
