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Orange County, California continues to be a hot bed for startups. The attractive and laid back lifestyle in addition to a wide range of commercial real estate options has allowed many startups to flourish in the OC.
With $45 million invested in early stage startups, $160 million for growing companies and $24 million given in later stage rounds in the second quarter, VCs have been showing their support for the full range of OC startups. And it’s not just founders who are interested – in the second quarter of this year, Orange County was the eighth largest U.S. market for high-technology venture capital funding, with over $229 million invested.
From hot new game studios to potential VR content leaders and internet based mortgage lenders, here’s a look at some Orange County startups that have recently raised funds and look poised for some impressive growth next year.
360fly produces hardware and software that enable stunning 360º video experiences. They also happen to be TechSpace members! The company’s breakthrough product is a 360º 4k video camera released earlier this year. Using a special mobile app, the innovative camera enables users to create immersive VR footage at four times the resolution of standard HD cameras. An impressive $40 million series C this year will help 360fly to develop more software and hardware as well as integrate their products into helmets from Giro and Bell. We are excited to see our member’s success!
Bonfire Studios is a new independent game studio setup by the lead designer of the ever popular World of Warcraft. Rob Pardo, the ex-creative director of Blizzard Entertainment has decided to go at it alone and is aiming to create large interactive worlds similar to the type that has made Blizzard so successful. With a team of former Blizzard employees, as well as well-known developer Min Kim, the gaming startup has already raised as an impressive $25 million USD from Andreessen Horowitz and Los Angeles-based Riot Games.
NextVR captures and delivers live events and experiences in virtual reality. The startup enables the transmission of virtual reality content in broadcast quality. With VR set to be the next breakout technology, NextVR will allow sporting events, concerts and cinematic productions to be broadcast in this new, exciting way. They have over 25 patents granted or pending for the capture, compression, transmission, and display of virtual reality content and a huge war chest of cash raised this year mainly from investors in Asia. NextVR is very well placed to take advantage of the VR boom.
Digital Map Products offers cloud based spatial technology. The startup’s spatial solutions include location technology and data for businesses, organizations and consumers such as online real estate platforms, listings sites and government agencies. Digital Map Products offers an SaaS spatial platform as well as embedded GIS industry applications. With a whopping $36 million funding round this year, the company is primed for considerable growth.
NarrativeWave generates business insights from real-time operational and sensor data. The company offers “situational intelligence” designed for the industrial internet, which makes use of machine learning and big data technology. The impressive system incorporates engineers’ knowledge and analyzes data streams to uncover the causes of incidents and produce automated reports. NarrativeWave was started by San Juan Capistrano’s Frost Data Capital, which creates companies focused on energy, manufacturing and healthcare.
Cloudvirga is the company behind the cloud-based intelligent Mortgage Platform® (iMP) designed to streamline the mortgage process. This startup aims to disrupt the labor intensive, fragmented and heavily regulated process of arranging mortgages. By processing mortgages online, Cloudvirga reduces costs, increases transparency, automates part of the process and can close loans in a shorter time frame. Having processed around $5 billion in loans since it launched in August 2015, the company is already doing well, while a recent $7.5 million series A should help it expand considerably.
Pinscriptive offers a big data analytics platform that uses various data sources to recommend specialty drugs, known as biologics, which would be the most effective for patients while offering the best value. With spending on expensive specialty drugs is spiraling out of control in America and set to be $400 billion by 2020, the startup aims to offer patients and physicians the best solutions, while at the same time lowering the cost of providing health care.
Funding: $1.78 million in Seed Funding
Compellon offers data analytics software solutions for the healthcare, financial services and advertising industries. The startup’s technology avoids trial and error methodologies and is able to offer advanced analytics beyond metrics, for example, by delivering recommendations to improve customer service and loyalty in marketing, manufacturing and operations. A recent $6.7 million series A will see Compellon beefing up their sales department and focusing on software development for their Compellon20|20 prescriptive analytics platform.
Blueprint Bio is developing biomarkers that can be used in developing personalized medicine. Biomarkers are measurable substances whose presence can be used to indicate disease, infection or environmental exposure. The markers can help to to ensure more accurate and effective disease analysis and treatment. With $7.5 million raised in series A this year, Blueprint Bio will be ramping up it’s R&D and IP development to help support the future of medicine.
Funding: $7.5M in 1 Round
Digsy is on online platform and butler service that helps small business owners & startups to find new office space and additional services, free of charge. Founded by a former real estate agent and an ex-Googler, the startup allows other startups and mid-sized companies to find office, warehouse and retail space. Digsy partners with local commercial real estate agents who act as search engines to help companies find the right space.