SoCal Scores Big in Today’s Funding Roundup

September 15, 2015

3:00 pm

It’s a big day for SoCal in today’s funding roundup. We’ve got the Venice, CA based Moviepilot bringing in a new bout of funding, San Diego’s Avalon Ventures is building a new fund, Soothe acquired a Y Combinator company in Los Angeles, and Qualcomm bought out Capsule.

Outside of that, Compass raised a hefty bout of funding and two more funds were created to keep fueling startup founders on their path to success. Sign up if you want to have our roundup delivered daily to your inbox!

Funding

Moviepilot Receives $16 Million

Moviepilot, an entertainment website for millennials, today announced the completion of a Series B funding round to fuel their expansion into gaming content and social video production. Primarily led by French publishing group Webedia, T-Venture of America also participated in the round to bring the total raised to $16 million.

Compass Raises $50 Million, Valued at $800 Million

The New York real estate platform Compass today raised $50 million at an $800 million valuation. Led by Institutional Venture Partners, with participation from previous backers, Compass is planning on using the funds to expand into more US cities, starting first with Boston and then adding about nine more over the course of the next 12 months.

New Funds

Avalon Ventures Targets $300 Million

Avalon Ventures calls San Diego home, and they specialize in life sciences tech investments. The team announced that they’ll be targeting $300 million for their eleventh fund, per an SEC filing. So far, the firm has raised $103.5 million from 26 different investors: I’d say they’re well on their way to fulfilling their goal.

Blackbird Ventures’ New $200 Million Fund

Blackbird Ventures announced that they’ve raised $200 million for their second fund. It’s monumentally bigger than their first fund, which clocked in around $30 million. The fund looks to back Australian entrepreneurs living in Australia.

Shiv Nadar Launches $500 Million Fund

Shiv Nadar, the billionaire chairman of HCL Technologies has launched a $500 million fund to invest in US startups focused on healthcare technologies. Nadar has teamed up with Sanjay Kalra, a former chief executive of Indian IT outsourcing provider Tech Mahindra Ltd., to set up a new firm, SNSK Associates.

Acquisitions

Soothe Buys Unwind.Me

Considered by most to be the largest on demand massage company, Soothe has officially acquired their Bay Area competitor Unwind.Me, which was backed by Y Combinator and 500 Startups. As part of the deal, the Unwind.Me brand and network of massage therapists will be folded directly into Soothe’s national network. To date they have more than 1,700 licensed and insured massage therapists in 13 major markets.

Qualcomm Acquires Capsule Technologies

Qualcomm announced today that their subsidiary Qualcomm Life has officially acquired Capsule Technologies, a health technology company that actually started out in 1997. Capsule specializes in collecting medical device data and transmitting it to information systems – Qualcomm Life is in the same business, making this acquisition a no-brainer for the San Diego tech giant.

Image Credit: Wikipedia

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Will is a Senior Writer with Tech.Co, based out of America's Finest City: San Diego. He covers all territory West of the Mississippi river, digging deep for awesome local entrepreneurs, companies, and ideas. He's the resident Android junkie and will be happy to tell you why you should switch to the OS. When he's off the clock, Will focuses his literary talent on the art of creative writing...or you might find him surfing in Ocean Beach. Follow Will on Twitter @WJS1988

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