Pasadena-based LeisureLink , which operates an online marketplace and service for vacation rental booking, has raised $3.5M LeisureLink has previously raised funding from Clearstone Venture Partners, Group RCI, Kodiak Ventures LP, Mission Ventures, Pasadena Angels and the Tech Coast Angels. Tags: leisurelink vacation rental travel venture capita in a funding round. The round came to light through last week's PricewaterhouseCoopers/NVCA MoneyTree report.

A study of the venture capital deal flow in Southern California conducted by socalTECH shows that venture capital deals dropped for Q3, to around $720M in deals, in a market dominated by clean technology firms. The numbers, which were drawn from venture deals tracked and reported in socalTECH's proprietary venture capital database, found that there was $719.7M in venture capital deals in the third quarter, down dramatically from $1.2B invested in Q3 of 2007, and down slightly from venture numbers in Q2, when there was approximately $966M in venture deals. The

Pasadena-based LeisureLink has signed on a loyalty and incentive company, Destination Rewards, as part of its travel services, the firm said earlier this week. The company is venture backed by Clearstone Venture Partners, Mission Ventures, the Pasadena Angels, the Tech Coast Angels, and others. LeisureLink, which provides online distribution and marketing of vacation lodging, said that it will offer consumer rewards and loyalty programs that can be used for vacation travel and merchandise. Financial terms of the deal were not disclosed.