Silicon Beach Deal Flow: Nov. 20


Goldstar Events Inc.

$20.3 Million

Type: Equity

Location: Pasadena

Investors: Undisclosed

Description: Goldstar’s recent financing was disclosed in a Securities and Exchange Commission filing. The company provides discount tickets to theaters, concerts, nightlife, comedy, sports and other events. Founded in 2002, Goldstar competes against services such as Groupon and Living Social. The service sells half-priced tickets for venues that aren’t selling out and charges a 5 percent commission on each ticket sold.

OpenHouse (formerly Agent Ace)

$13.5 Million

Type: Equity

Location: Santa Monica

Investors: The funding was led by Triangle Peak Partners and March Capital Partners and had participation from undisclosed strategic investors.

Description: In addition to raising $13.5 million, real estate agent matching website Agent Ace of Santa Monica acquired home-search website Fypio and rebranded as OpenHouse. Agent Ace and Fypio’s functions are being combined into an iOS app named OpenHouse, which will help house hunters find a home and then a real estate agent to buy that home. The app also lists homes and helps house sellers find a real estate agent who will maximize its sale price.

OnRamp Fund

$10 Million

Type: Incubator Fund

Location: Downtown

Investors: The fund comes from former Chief Executive Lawrence Ng and a few undisclosed investors.

Description: The fund will make investments between $50,000 and $200,000 in early stage startups, often e-commerce companies. The incubator will have an operational involvement in startups similar to Santa Monica startup studio Science Inc. OnRamp has nine employees who work between offices in downtown Los Angeles, Shanghai, China and Taipei, Taiwan. OnRamp’s Shanghai office is used to help connect retailers with manufacturers in China, while its Taipei staff help find engineering talent.

$9 million

Type: Equity

Location: Santa Monica

Investors: The round came from Columbia Pacific Advisors’ Growth Capital Strategy and Fenway Summer Ventures.

Description: sells pre-paid debit cards, which can be loaded with cash from a variety of platforms such as Green Dot Reload, Western Union, MoneyGram and PayPal. The company said it has over $450 million in deposits to date and last month opened more than 50,000 new accounts. The company has 35 employees in Santa Monica.

$5 million

Type: Equity

Location: Santa Monica

Investors: The funding came from MassMutual Ventures, Wildcat Venture Partners and Mohr Davidow Ventures.

Description: Student loan repayment service of Santa Monica provides student loan consolidation and repayment management as an employee benefit. The new round of funding will help acquire new enterprise customers, and grow its sales, customer service and engineering teams.


$800 million

Type: Acquisition

Location: El Segundo

Purchased Assets: Business-to-business assets of Systemax’s North American Technology Group

Description: Under the agreement, PCM will acquire the right to hire approximately 400 sales representatives across the United States and Canada, certain contracts, and intellectual property rights to brands including TigerDirect, an online retailer of electronics and other products, among others.

Technology reporter Garrett Reim can be reached at [email protected]. Follow him on Twitter @garrettreim for the latest in L.A. tech news.

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