Lookout , a firm developing security software for mobile phones and started by two recent USC graduates, has raised $5.5M Tags: mobile security venture capital lookout flexili in a funding , according to the New York Times this morning. According to the Times, the firm raised the new round of funding this month from Khosla Ventures.

The University of Southern California is reporting today that spinouts out of the school have raised $148m in the last two calendar years (2008-2009), and that there are now at least 24 USC spinouts currently in business. The school--which has been actively encouraging startup activity based on its research in recent years--said that 16 USC startups raised $148M, in a combination of new startup funding and additional rounds of financing for those companies. The school said that the 24 spinouts of the school employ approximately 500 full time employees, with at least 267 of those jobs in Los Angeles.

The USC Stevens Institute for Innovation , the effort of the University of Southern California to foster innovation within its campus and the community, has been turning an eye to how to more effectively spin out academic efforts into companies. Among tidbits from their study: inventors are expected to be involved start-ups, but shouldn't expect to run the company as CEO; venture capital funds shouldn't be considered as "ATMs"--they expect to be "highly involved" in portfolio companies; and understand that venture capitalists are looking for a return on investment--either an IPO or acquisition.

2tor said it raised $10M in a Series A financing from Redpoint Ventures, along with Novak Biddle Venture Partnres and City Light Capital, for its service, which helps universities create online degree programs. 2tor also has offices just North of USC on Figueroa Street. Tags: 2tor online learning education venture capital redpoint greg martin executiv A New York-based online learning firm with links to the University of Southern California has scored a round of funding, and added Redpoint's Greg Martin to its board, the firm said this morning. The firm currently only

August Capital 's Andy Rappaport is the featured speaker at USC's Social Innovation Fast Pitch Wed Nov 11th at 4pm. He calls it a fireside chat. Andy, can you give us an idea of what you'll be sharing? Show #256 (15:29) Listen ...Tags:

The funding was led by Highland Capital, and also included Redpoint Ventures, Novak Biddle Venture Partners, and City Light Capital. The firm also has significant operations in Los Angeles, just north of USC on Figueroa. 2tor , a New York-based firm with strong links to the University of Southern California and a local Los Angeles office, has raised $20M in a Series B funding round. 2tor develops online degree programs for companies, including the University of Southern California's Rossier School of Education.

Villard--who is a member of the Tech Coast Angels, and is a co-founder and Chairman of USC Keck School of Medicine spinout Pivotal BioSciences--has been interim CEO since March for the firm. The announcement for the publicly held firm--which is traded over the counter--came alongside what the firm described as a "significant change" in its capital structure, including paying off its senior debt and converting its subordinated debt into common stock. Los Angeles-based ARTISTdirect , which operates a music focused information website and runs MediaDefender, which looks for copyright violations on the Internet, said Wednesday that it has appointed interim CEO Dimitri Villard as its permanent CEO.

How do non-profits compete for capital? She's in a fast pitch competition hosted by the LA Social Venture Partners and USC's Stevens Institute . A double header: two contestants in two different competitions in southern California. One contestant from a non-profit company, a social enterprise, the other a brand new startup competing in an open mic bake-off.

We have universities like CalTech, UCLA, USC and many more.  We Funding is different – In Silicon Valley you have mega venture capital funds and many of them.  They Los Angeles.  People People either love it our hate it.  All All the stereotypes and caricatures are overblown.  And

Noah Auerhahn: We got started right out of USC. The site started as a concept that Jeff Nobbs, my co-founder, and myself developed while we were operating a cash-back and coupon website while we were attending USC. We wrote up a business plan, and won a USC business plan competition, which allowed us to get funding from the University and raise venture capital we needed to begin development on the plan. For this morning's interview, we talked with Noah Auerhahn , President of San Diego-based Extrabux (www.extrabux.com), an online site focused on providing consumers with comparison shopping combined with discount offers.