Wed.Nov 07, 2018

SpaceX Seeks $750M In Debt Funding

socalTECH

Hawthorne, California-based SpaceX , the commercial space exploration firm run by Elon Musk, is looking to raised $750M in a leveraged loan offering, according to a report on Tuesday. The loan effort is being led by BofA Merrill Lynch. The debt funding effort is apparently the company's first time it has attempted to tap into the institutional debt market. READ MORE>>. spacex commercial space exploration elon musk loan debt funding aerospace

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Silicon Beach Report Nov. 7: Riot Games Sued

L.A. Business Journal

Sexual harassment suit filed against Riot Games; SpaceX chosen for Kazakh rocket launch; HyreCar goes national

Mirium Pharmaceuticals Finds $120M

socalTECH

San Diego-based Mirium Pharmaceuticals , which is developing treatments for rare liver diseases, announced on Wednesday morning that it has raised $120M in a Series A funding round. The funding was led by New Enterprise Associates (NEA), and also included Deerfield Management, Frazier Healthcare Partners, Novo Holdings A/S, Pappas Capital, RiverVest Venture Partners and Rock Springs Capital.

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DTLA Pitch Night

SoCal Tech Calendar

Tuesday, November 13, 2018 -- DTLA Pitch Night. 2nd Annual Startups in the Sky. See [link] (more

Idealab's Energy Vault Launches Energy Storage Technology

socalTECH

Energy Vault , a startup created by Pasadena-based startup incubator Idealab , announced this morning that it has launched its utility-scale energy storage technology into commercial availability. Energy Vault's technology--which looks like a wild idea created in Minecraft--uses immense concrete blocks, which store energy from renewable energy, using the same principles of pumping and storing water for energy storage.

Mirum Pharmaceuticals Launches with $120M to Advance Liver Drugs

Xconomy

Serial entrepreneur Mike Grey is launching a biotech enterprise with $120 million in new funding to advance two investigational liver disease drugs—one of which he has worked to develop before.

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Cornerstone OnDemand Acquires Grovo

socalTECH

Santa Monica-based Cornerstone OnDemand , which develops cloud-based learning and human capital management software, said late Wednesday that it has acquired Grovo Learning , a provider of "micro-learning" content, in a deal worth $24M in cash. According to Cornerstone OnDemand, Grovo had more than 300 clients, including Gap, Hulu, Chevron, and Wells Fargo. Grovo was founded in 2010, and has offices in New York City and San Francisco.

Impact Expands In Singapore

socalTECH

Santa Barbara-based Impact , the developer of fraud protection, marketing attribution, analytics, and performance partnership management software, said today that it has opened up a new office in Singapore. Accordnig to Impact, the new office will be led by Antoine Gross, Country Manager for Southeast Asia, who joins the company after serving as Vice President of Sales APAC at Synthesio. Impact said the new Singapore office will help it further extend its footprint in APAC. READ MORE>>.

Parasoft Opens Up Tools To Open Source Developers

socalTECH

In a bid to gain better market share among developer, Monrovia, California-based Parasoft announced Tuesday that it will begin giving out free access to its entire suit of test automation software to open source developers. Parasoft develops testing automation software, typically used by enterprises to automate testing of their development efforts.

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Riot Games Sued Over Discrimination

socalTECH

Los Angeles-based videogame maker Riot Games has been sued by a number of current and former employees, over gender discrimination , alleging that the company has stifled the promotions and pay of female employees. The lawsuit also alleges that here is "ongoing sexual harassment, misconduct, and bias" at the company, which is 80% male. The suit seeks compensation on unpaid wages, damages, and other penalties. READ MORE>>.