Funding
• Costa Mesa-based Shed Defender makes onesies not for babies, but for dogs.
Founder and Chief Executive Tyson Walters said his Saint Bernard, Harley, was shedding all over his apartment and his car.
“She would shake, and the hair would just explode off her and disperse all throughout the car,” he said.
Walters came up with the concept in 2011—his mother sewed the first prototype—and the company got a boost this month during an appearance on ABC’s “Shark Tank.”
It secured $250,000 in exchange for 25% equity from the show’s Lori Greiner.
Walters said proceeds will be used for hiring, advertising, marketing, and product research and development.
The company is made up of him and his sister-in-law Casey Walters, who serves as chief marketing officer.
Shed Defender makes shed-preventing onesies out of an environmentally friendly fiber made from recycled plastic water bottles, and a polyester and spandex blend. The combination makes the fabric strong enough to endure wear and tear, but light and breathable to prevent overheating.
The company said the garment is not meant to be worn constantly, but for occasions such as riding in the car or during a party.
Shed Defender currently sells its products online through its website and e-commerce retailers, such as Amazon and Chewy. They run about $40 each.
The business has reeled in nearly $1.5 million in gross sales since its establishment, selling over 32,000 units. It became profitable last year.
Prior to the Shark Tank offer, the company raised $170,000 from family members. The round included Walter’s brother and financial adviser Myles Walters.
— Brian Alvarado
• Irvine-based Mobilize Solutions closed a $1 million funding round this month from Leawood Venture Capital in Leawood, Kan.
Proceeds will provide runway through next summer. Founder and Chief Executive Aaron Horvath said the company plans a Series A funding round next year.
Mobilize is a camera-generated media platform. Its software enables users to use branded filters available in a mobile camera—including brand names, locations and events—before sharing them on social media.
Horvath said this gives brands new ways to engage consumers, and carriers new revenue sources.
He said the company, which started in 2013, recently “entered new waters” targeting carriers to increase distribution.
It added Marni Walden to the board in September. The industry veteran with more than 20 years of experience was recently executive vice president and president of global media at Verizon Wireless.
Horvath said Walden and Greg Haller, chief operating officer of Irvine-based customer service platform Alorica Inc., helped made the introduction to Leawood Venture Capital.
Prior to Alorica, Haller was market president of the Pacific for Verizon and responsible for the wireless giant’s operations in seven Western states.
Horvath said he got the idea for the company from his daughter who was 13 at the time. She wanted to add a Dodger logo to her photo to show off to her friends that she was at a game.
“I thought what if it’s really easy to add a logo [to the photo] based on location,” he said, pointing out examples like “if you are at an Italian restaurant, you automatically get filters and stickers related to an Italian restaurant … or certain days, like Father’s Day… make filters a lot more accessible.”
His daughter’s response to the concept? Cool.
“And what can you do when a cute 13-year-old girl tells you that it was cool,” he asked. “You quit your job and write a business plan.”
The company also raised funds from Tech Coast Angels, the largest angel investor group in the U.S. based in Southern California.
Mobilize employs 14. Horvath said the company plans to expand its team after the Series A round next year.
— Sherry Hsieh
