Wednesday, March 15, 2017ProducePay Picks Up $7M Equity, $70M Debt For Farm Financing StartupLos Angeles-based ProducePay, which operates a fintech startup to help farmers better manage their cash flow, has raised $77M in funding, split between $7M in equity and $70M in debt. The funding was led by CoVenture, and also included Menlo Ventures, Arena Ventures, CoVenture, Red Bear Angels, Social Leverage, plus Moonshots Capital. ProducePay is led by Pablo Borquez Schwarzbeck. Source of the debt funding was not announced. ProducePay offers up a next day advance on produce when they are ship (More info...)
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ServiceTitan Raises $80MGlendale-based ServiceTitan, which develops business management software for the home services and contracting industry, has raised $80M in a Series B funding, the company announced this morning. ServiceTitan said the new funding was led by ICONIQ Capital. ServiceTitan's software is used by residential plumbing, HVAC, and electrical service providers to manage everything from dispatch to invoice management, marketing, and reporting for those home services professionals. The startup is led by co- (More info...)
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Rubicon Project Names New CEOLos Angeles-based online advertising exchange operator Rubicon Project announced Tuesday afternoon that it has named Michael Barrett as CEO, replacing founder and CEO Frank Addante. Addante remains with the company as Chairman of the company. Barrett was most recently CEO of Millennial Media, and also had served as Chief Revenue Officer at Yahoo!, in addition to serving as CEO of AdMeld; he also has served at AOL and Fox. The shift in leadership came as Rubicon Project reported a drop in Q4 reve (More info...)
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Los Angeles Cleantech Incubator Aims At Diversity, Inclusion With New EffortThe Los Angeles Cleantech Incubator (LACI), the nonprofit incubator which helps to support clean technology startups in Los Angeles, is making a push to increase diversity and inclusion in the cleantech sector, the incubator said Tuesday. LACI said it has launched a new Diversity in Entrepreneurship Advisory Council, specifically aimed at bringing women, people of color, and other underrepresented groups into the cleantech sector. The new effort comes in addition to existing efforts in the area (More info...)
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Zadara Storage Links With Tech Data For Channel EffortsIrvine-based storage-as-a-service provider Zadara Storage said on Monday that it has inked an agreement with technology distributor Tech Data Corporation. According to Zadara, Tech Data will offer up its services to its channel partners worldwide, through its Avnet Cloud Marketplace. Zadara's storage-as-a-service offering lets users connect to both cloud, on-premise, or hybrid storage setups using such protocols as FC, iSCSI, iSER, NFS, CIFS, S3, Swift.
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Digital Domain Names North American CEOPlaya Vista-based visual effects and virtual reality content developer Digital Domain has named Amit Chopra as CEO for North America. Chopra was already Executive Director and Chief Operating Officer at the company. Digital Domain said the appointment comes as the company is seeking to capitalize on emerging opportunities for visual effects, virtual reality (VR) production and original immersive content.
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