RightScale closes $25M round
RightScale, a Santa Barbara-based cloud computing company, recently closed a $25 million round of venture funding, the company announced Sept. 22. The round was led by Tenaya Capital, a fund that spun off from Lehman Brothers in 2009. DAG Ventures, Benchmark Captital, Index Ventures and Presidio Ventures also invested in the latest round. “This represents Read More →
SB, Ventura Colleges of Law to join Chicago nonprofit
The Santa Barbara and Ventura Colleges of Law plan to join a Chicago-based network of nonprofit colleges, the institutions announced Sept. 21. The deal with TCS Education System is an “affiliation agreement,” Heather Georgakis, the dean of the Colleges of Law, told the Business Times. “The law school will remain its own entity,” she said. Read More →
Move buys real estate listing company
Online real estate company Move announced Sept. 21 that it has purchased Threewide Corp., operator of online real estate syndicator ListHub, for $13 million in cash. Move, officially based in Campbell but with major operations in Westlake Village, operates Move.com and Realtor.com. West Virgina-based Threewide will become a Move subsidiary but will maintain the ListHub Read More →
Ecomerit gets $2.4M federal grant
Carpinteria-based Ecomerit Technologies, the latest company from the founders of Clipper Windpower, will get a $2.4 million federal grant to pursue its technology for generating renewable energy from ocean currents. U.S. Rep. Lois Capps, D-Santa Barbara, announced the grant Sept. 20. It will come from the U.S. Department of Energy, as part of $37 million Read More →
L.A. developer buys rare unimproved lot in downtown SB
A Los Angeles-based developer purchased the 1.8-acre parcel of land at 535 E. Montecito St. — the largest unimproved site in downtown Santa Barbara — on Sept. 19. The property, listed for sale at $5.5 million, was purchased by Los Portales 48 Lots LLC from the Housing Authority of the City of Santa Barbara. The Read More →
Goleta hospital gets $5M
Philanthropist Leslie Ridley-Tree has pledged $5 million to support the Center for Wound Management at Goleta Valley Cottage Hospital, the hospital announced Sept. 8. In acknowledgement of the gift, the center will be named in Ridley-Tree’s honor. The new Ridley-Tree Center for Wound Management will be significantly larger than the current space, and it will Read More →
Economist predicts sustained recovery
The U.S. may have entered a new age of austerity, but fears of a double-dip recession are unwarranted, according to a Sept. 16 presentation by Mark Schniepp, director of the Goleta-based California Economic Forecast. “It’s not unusual for the economy to pause at this point,” Schniepp said, adding that the U.S. has been in recovery Read More →
