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Valley-Area Firms Raise $25 Million in VC Funding

Four Valley-area firms raised a total of $25 million in venture capital money in the fourth quarter, capturing some of the cash that flowed in a record-breaking year for software and Internet investment, according to a report released Friday by PricewaterhouseCoopers and the National Venture Capital Association. Serviz Inc., a Sherman Oaks on-demand home services company, was the local leader in the quarter, pulling down $12.5 million. Skyline Financial Corp. in Calabasas, which provides mortgage banking and brokerage services, raised $5.8 million, and Valencia’s Sanguine BioSciences, Inc., raised $5.5 million. In addition, Procore Technologies Inc., in Carpinteria, raised $1.2 million for its cloud-based construction management software application. The MoneyTree Report, based on Thomson Financial data, found that the dollar value of VC investments in the United States last year rose to $48.3 billion, a 61 percent increase over 2013, though the number of deals inched up just 4 percent. Media and entertainment software companies got the largest share of funding. In fourth quarter, $14.8 billion went into 1,109 deals nationwide. Internet-specific companies captured $11.9 billion of that, the highest level of Internet-specific investments since 2000. Additionally, annual investments in software also reached the highest level since 2000, with $19.8 billion flowing into 1,799 deals.

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