Greycroft partner closes $15.6M for VR, AR and gaming investments
Local VC Greycroft Partners announced its first ever vertically-focused fund this week, and it already has $15.6 million in commitments for investments. Headed by partner Jon Goldman, GC VR Gaming Tracker Fund, LP (also known as Tracker) will focus on seed stage companies in the VR, AR and gaming industries. [Press Release]
AdColony releases stats on mobile publishing
AdColony, a company founded by UCLA grad Jonathan Zweig and sold to Opera for $350 million, released a report this week detailing mobile publishing trends of 2017. Respondents reported that advertising accounts for 55 percent of total mobile publisher revenue, with 31 percent of that coming from mobile video ads. Additionally, the report detailed how publishers are far more likely to make money through direct in-app purchases than they are from paid installs or subscriptions. [AdColony]
Ten-X acquired by Thomas H. Lee
Irvine-based Ten-X, best known for operating Auction.com, was acquired this week by Thomas H. Lee Partners. The terms of the deal were not disclosed. In January 2016, the company was valued at $1.2 billion, making it a member Southern California's unicorn club. [SoCal Tech]
SourceKnowledge comes to LA
SourceKnowledge, a Montreal-based marketplace for cross-platform video advertising, has expanded to the U.S., choosing Los Angeles for its U.S. headquarters. Account executives Ryan Martinson and Mike DeMare will spearhead the new office, which is located at the WeWork Playa Vista. [SourceKnowledge]
Paranormal Activity writer launches event discovery app
This week, SPOT officially launched its free mobile app, which helps users easily find, join or create events in their area. SPOT was founded by Oren Peli, who is best known for writing Paranormal Activity and producing the film's sequels. Peli, who is also a software developer, built SPOT after finding himself newly single and looking to connect with new friends. [SPOT]
H Code Media partners with Futbol Sites
H Code Media, a media site that helps advertisers connect with Hispanic audiences, announced an exclusive partnership this week with Futbol Sites, a digital sports media group based in Buenos Aires. The deal was struck less than a year before 2018 FIFA World Cup, which will be hosted by Russia. [H Code Media]
Fundings of the week
SpaceX, $350 million
Investors: Undisclosed
SpaceX landed a $350 million Series F round at a $21 billion valuation, making it the most valuable private tech company in LA and Orange County. The funding will help the startup set its sights on Mars. [Built In LA]
Ritual, $10.5 million
Investors: Founders Fund with returning investors Forerunner Ventures, Norwest, and Upfront Ventures
Ritual, a West Hollywood-based e-commerce and healthtech startup, closed a $10.5 million Series A this week. The funding will help the company build out its in-house team of tech employees and scientists. [Built In LA]
Vetted, $3.3 million
Investors: Foundation Capital and Amplify LA
On-demand vet service startup Vetted pulled in $3.3 million in its first institutional round of funding this week. The company plans to use the funding to expand its service to new regions, recruit highly trained vets and launch additional solutions for pets and their humans. [Built In LA]
Images via social media and Shutterstock.
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