Berengian, Managing Partner at RezVen Partners (RVP) and a former executive at Overture (which was acquired by Yahoo!), has acquired a majority stake in the company and will become Cie Digital Labs’ Chief Executive Officer. He will also continue his role as Managing Partner at RVP.
Justin Choi, CDL’s founder and Nativo’s CEO, will retain a significant stake and continue to leverage his product development and entrepreneurial experience to guide the company’s product and strategy efforts.
The company will use the capital to accelerate company operations and expand its engineering team.
Led by Tyler Tanaka, President, Cie Digital Labs is an interactive development firm focused on delivering tech innovation to clients in a wide range of industries. It acts as an outsourced innovation studio supporting a wide range of capabilities from identifying opportunities from initial ideation, to designing the initial product and technology, providing operational resources, and then connecting these ventures to qualified entrepreneurs when they are ready to become independent companies.
Two of these companies include Cie Games, which sold to Glu Mobile for $100m last year; and Nativo, an adtech company, which raised $32m to date in funding.