Former Virgin Digital Execs’ Elevator Labs Raises $20 Million

Digital business incubator Elevator Labs has raised $20 million in initial funding. The company was created by former Virgin Digital execs Brendon Cassidy and Zack Zalon, who secured their funding from KGC Capital. The goal of the company is to “found, foster and grow new ideas and companies in the Los Angeles region while also building a community of innovation with existing Los Angeles technology, media and government organizations. [TechCrunch]

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