Friday, January 25, 2008

Velocity Services Gets $6.8M

Velocity Services, and El Segundo-based firm which operates IPDG (Interactive Digital Publishing Group), an operator of consumer portals and other online properties, has quietly raised $6.8M in venture funding. The funding was disclosed in this week's PricewaterhouseCoopers/NVCA MoneyTree report. No details on the firm's investors has been announced, however the firm's board includes Eric Chen and Dr. Francis Chen of WI Harper. Velocity Services owns Mail.com and MovieLine.com; the firm's CEO, Jay Penske, co-owns the NASCAR Luczo Dragon Racing Team with Seagate Chairman Stephen Luczo. More information »

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