LaunchpadLA Grad Preact Raises $4.6M

Preact, a developer of software to help software companies reduce churn in their subscription customers which came out of Los Angeles-based startup incubator/accelerator Launchpad LA, has raised $4.6M in a funding round. The company said the funding came from Trinity Ventures. Preact--which was formerly known as FolioHD--was founded by Christopher Gooley and Cory Watilo. The company is now based in San Francisco. Gooley was at Earbits, and Watilo is an Orange County native who has consulted for Kelley Blue Book, Zillow, and others. The company's investors include Launchpad LA's Sam Teller. Preact came out of Gooley and Watilo's experience at FolioHD, a photo sharing service for professional photographers, and their own customer churn issues with that subscription service. More information »