Funding
• Seal Beach-based Industry Jump Inc. is seeking $500,000 in the form of a convertible note, founder and Chief Executive JJ Englert told the Business Journal.
The funding values it at $2.5 million. The note comes at a 25% discount to the valuation and carries a 9% interest rate.
The company, launched last year, develops career and project-management platforms for freelance filmmakers and producers.
The filmmaking industry has changed, driven by a “digital revolution” that’s resulted in a new type of video making, such as YouTube video, Englert told the audience at Landmark Angels and Tech Coast Angels Venture Forum in October at the Resort at Pelican Hill.
He said video production must also be modernized, from hiring to project management.
Its platform allows users to leverage its advanced search engine to find filmmakers that fit search parameters; select from vetted peer-reviewed candidates; book film crews; and receive employment information.
A freelance director, Englert said the process is more complex than most people would imagine.
He said a typical production of his includes nearly 30 people and lasts about a month. The rapid cycle of starting and shutting down projects speaks to the need of a platform like Industry Jump, he added.
It takes a 5% commission from every transaction.
• Newport Beach-based Your Car Our Driver, in business for 11 years, is looking to ramp up.
The on-demand chauffer network company announced an international crowdfunding campaign last month to raise nearly $1.1 million.
Founder and Chief Executive Josef Wojtkow said he founded the company in 2007, self-funding the venture with $26,000. It’s generated $3.5 million to date. No capital has been raised until this latest round.
He said the company provides drivers, not cars. “Why pay for an expensive limousine?” he pointed out, when clients can stay in the familiarity and comfort of their own vehicles, traveling with their personal drivers.
He said the company, which is licensed, bonded and insured, differentiates itself as a provider of luxury service at an affordable rate. It directly employs a group of professional chauffeurs, who arrive in a uniform of a black suit, white, gray or black shirt and a tie.
Wojtkow, who pointed out that he didn’t have crowdfunding as an option when he started the company, said he believes the fresh capital can better help the company with scheduling and deploying drivers.
It plans to use the crowdfunding round to acquire an exclusive technology platform to better provide drive-on-demand, expand its footprint in Southern California and beyond, and create a mobile app.
He said additional technology would allow clients to book 30 minutes to an hour in advance; bookings currently must be made three to five hours ahead.
Rates are $40 per hour, with a required three-hour minimum.
• Sports protective-technology developer Vicis Inc. announced last month the close of a $28.5 million Series B, a funding round that includes an undisclosed investment from All-Pro NFL quarterback Aaron Rodgers through Newport Beach-based Rx3 Ventures.
The Green Bay Packers superstar is one of three partners at Rx3. The others are Bryon Roth, chairman and chief executive at Newport Beach-based Roth Capital Partners, and Nate Raabe, who previously managed the private capital group at Roth Capital.
Seattle-based Vicis makes football helmets designed to lessen the likelihood of concussion. The company has a new product geared for younger players. It launched its first product last year.
