Wed.Feb 17, 2021

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Westlake, Nowcom Create Fintech Company

L.A. Business Journal

Westlake Technology Holdings and sister company Nowcom Corp. have joined to create NowLake Technology.

Company 246
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6 Cost-Cutting Recommendations For New Entrepreneurs

Startup Professionals Musings

It wasn’t so many years ago that starting a new e-commerce business on the Internet was a complex custom development project, usually costing a million dollars or more. Now you can do it for free, or a few hundred dollars, with one of the many web building tools available, like Shopify or Weebly. A programmer can build a new smartphone app for a few thousand dollars.

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Pex Raises $57 Million For Digital Attribution Engine

L.A. Business Journal

Pex raised $57 million in a funding round that will allow the company to scale up its digital video and audio licensing engine.

Funding 130
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SpaceX Lands $850M, Now Worth $74 Billion

socalTECH

Hawthorne, California-based SpaceX has completed raising $850M in new funding, boosting the valuation of the company to an astounding $74 billion, according to CNBC. The funding--which has not been announced by SpaceX--apparently valued SpaceX at $419.99 per share, and is a steep rise from its previous round in August, which valued SpaceX at $46 billion.

SpaceX 113
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Can You Ask for Office Rent Relief? How to Manage Your Lease During COVID-19

Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.

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Westlake Village BioPartners Taps Former SVB Leerink Exec As COO

socalTECH

Los Angeles-based venture capital investor Westlake Village BioPartners said on Wednesday that it has named Peter Calveley, previously Managing Director in the Investment Banking Group at SVB Leerink, as its Chief Operating Officer. According to the firm, Calveley will help power its portfolio of promising life sciences companies, and also aid in its expansion of its Los Angeles Biotech Hub.

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HyreCar Raises $29.7M In Public Offering

socalTECH

Los Angeles-based car sharing marketplace HyreCar reports it has raised $29.7M in its public offering. The publicly traded company--which trades as HYRE on the NASDAQ--said it sold 2.53 million shares of its common stock at a public offering price of $11.75 per share. The offering was run by Lake Street Capital Markets, LLC and Northland Securities.

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Therabody Lands Celebrity Packed Investment

socalTECH

Los Angeles-based Therabody, a developer of devices which use massage therapy to relieve muscle tension, said it has received a strategic investment round from more than 100 people, including many celebrities, in the professional sports, culture, and entertainment area. The company said the investment came from Shawn Carter (Jay-Z), Jay Brown, and Larry Marcus' Marcy Venture Partners, Aaron Rodgers' growth equity fund Rx3 Growth Partners, TRUE Capital Management, James Harden's 13 Endeavors, Kev

Invest 113
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Long Beach Accelerator Launches First Class

socalTECH

A new startup accelerator in Long Beach, the Long Beach Accelerator, said this week that it has launched its very first class of startups. The accelerator is being run by Sunstone Management, the City of Long Beach's Economic Development Department and California State University Long Beach's Institute for Innovation & Entrepreneurship (CSLUB IIE). The accelerator said the startups include three companies based in Long Beach, which will participate in a 3.5 month program involving workshops, gui

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HONK Names New Chief Revenue Officer

socalTECH

Los Angeles-based HONK Technologies, which operates a roadside assistance service to connect drivers with towing, said this morning that it has named Rochelle Thielen as Chief Revenue Officer. Thielen was most recently Executive Vice President, Partners, and previously also served as CEO of Estify, and has served at Mitchell International and Audatex, according to the company.

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Micronoma Snags $3.5M In Convertible Note For Cancer Detection

socalTECH

San Diego-based Micronoma, a biotech startup developing cancer detection technology, has raised $3.5M in a convertible note financing, the company said this morning. The company said funding came from SymBiosis LLC, an existing investor, as well as new investor The Seerave Foundation. The company says it has now raised $6.5M in total since a seed round six months ago.

San Diego 113