USC partners with Alelo to disrupt education
Alelo, an LA-based role playing simulation and teaching technology developer, announced a partnership with the USC Institute for Creative Technologies this week to co-develop disruptive learning technology. Alelo's virtual role playing software has been used by the military to train troops before deployment in order to learn cultures and behavior. [Alelo, USC Team On Virtual Learning Technology]
Cast & Crew Entertainment acquires Final Draft
In an LA-to-LA acquisition, Calabasas-based screenwriting software developer Final Draft, was acquired by Burbank-based Cast & Crew Entertainment Services. Final Draft's software will be added to Cast & Crew's growing suite of technology solutions. Financial terms of the deal were not disclosed. [Final Draft Acquired By Cast & Crew Entertainment: SoCal Tech]
The LA-based rental marketplace announced this week they will be entering the short-term rental market and have teamed up with onefinestay and HomeSuite to expand their short-term housing options. CEO Jonathan Eppers said the move does not put them in competition with Airbnb since they are not targeting casual travelers. [RadPad announces short-term rentals, targets non-Airbnb renters]
Top fundings of the week
Atom Tickets, $50 million
Investors: Lionsgate, Walt Disney Co. and Twentieth Century Fox
Santa Monica-based Atom is an Android and iOS app that allows users to purchase movie tickets. The app can be used to buy tickets and concessions, as well as invite to movies. The company will be rolling out nationally later this year. [Atom Tickets Raises $50 Million from Studios: LA Business Journal]
The Bouqs, $12 million
Investors: Quest Venture Partners, Azure Capital Partners and KEC Ventures, with participation from Enspire Capital and Draper Associates.
Just in time for Valentine's Day, The Bouqs announced their Series B this week to the tune of $12 million. CEO John Tabis says the new funding will aid technology development and support operational expansion. [Venice-based flower delivery startup bundles up a $12 million series B: Built In]
OpenMethods, $5 million
Investors: Kayne NewRoad Ventures Fund and NewRoad Capital Partners
The customer service management software company, OpenMethods, raised a $5 million round earlier this week. The funding will reportedly help enhance the company's software and fuel growth through sales and marketing. [OpenMethods Raises $5 Million: LA Business Journal]
