mac ventures

If you watched this year's NCAA basketball tournament, you may have unknowingly witnessed an early milestone from a company aiming to upend video advertising.

Ryff, a stealthy L.A.-based startup founded in 2018, helped Coca-Cola insert images of Coke bottles and banners into classic footage from past tournaments, like UCLA's 2006 finals run and North Carolina State's improbable championship in 1983.

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Los Angeles-based Pipe Technologies, Inc. announced Wednesday it has raised $60 million in equity and asset financing as an extension to the $6 million seed round it closed in February.

Launched last September, Pipe enables software as a service (SaaS) companies with recurring revenues to tap into their deferred cash flows by getting a cash advance against the full annual value of software subscriptions. Trading limits on the platform range from $10,000 to several million dollars per month, depending on the size of companies.

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Software as a service (SaaS) companies face a constant problem. They need money upfront to fund operations but their customers want to pay monthly. That means SaaS companies have to either provide discounts upwards of 40% for upfront payments or raise more capital, which hurts existing shareholders.

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