Wed.Jul 29, 2020

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LA’s consumer goods rental service, Joymode, sells to the NYC retail investment firm, XRC Labs

TechCrunch LA

After raising $15 million in financing from one of technology’s most successful global investment firms, the Los Angeles-based consumer goods rental company Joymode is selling itself to an early-stage retail investment firm out of New York, XRC Labs. Joymode’s founder Joe Fernandez will continue on as an advisor to Joymode as the company moves to pivot its business to focus on retail partnerships.

Invest 263
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How the Tech Giants are Adjusting to Working From Home

Tech.Co

The coronavirus pandemic has forced many companies to embrace working from home. And for some, the transition will last much longer than others. Google has announced that its staff will work from home until at least July 2021. The company is the first technology company to publicly commit to keeping its remote working policies in place into next year, in an attempt to give employees more clarity on how long they would be working from home.

Google 158
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Humana partners with Heal and invests $100 million in the company’s doctor-on-demand service

TechCrunch LA

“The doctor’s office is dead.” That’s the way Nick Desai, the co-founder and chief executive of the Los Angeles-based startup Heal describes the future of traditional healthcare delivery. While Desai’s bluster may be wishful thinking, the doctor’s office is certainly changing, and that’s thanks in part to companies like Heal, which offer in-home and telemedical consultations — and health insurance providers like Humana that are backing them.

Services 244
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JetBlue Deploys UV Cleaning Robot From LA Startup In COVID-19 Fight

socalTECH

JetBlue has become the very first airline to deploy high tech, ultraviolet cleaning robots--developed by an LA startup--in the fight against the COVID-19 pandemic. JetBlue said on Wednesday that it has begun using Honeywell's UV Cabin System to disinfect cabins in "less than 10 minutes" using UV light. That Honeywell UV Cabin System was developed and licensed from Los Angeles-based Dimer LLC, maker of the "GermFalcon" germicidal lighting systems, back in June.

High Tech 140
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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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5 Due Diligence Tips Before You Invest In A Startup

Startup Professionals Musings

After you have heard a few startup success stories, like Google, Facebook, and Microsoft, you may be tempted to invest some money yourself, maybe by pooling your funds with other investors who claim to have a great track record. My advice is to leave the investing in startups to the professionals (or friends and fools). First of all, despite a few visible blowout successes, the odds of a payback from investing in startups is very low (that’s why VCs look for 10X returns to cover failures).

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Snap Releases Diversity Report

socalTECH

Venice, California-based Snap , the parent company of Snapchat , has released its annual diversity report , showing that the company--like the rest of Silicon Valley--continues to struggle to build a diverse workforce. The company reported in its Diversity Annual Report 2020 that 51.1 percent of its employees are white, with director level executives 70.4 percent white; 33.3 percent Asian, 6.8 percent Hispanic/LatinX, 4.4 percent multiracial, and 4.1 percent Black/African American, and less than

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Joymode Acquired By XRC Labs

socalTECH

Los Angeles-based Joymode , which had run a consumer focused, rental service to help people rent--rather than buy--all of the things needed for "experiences" such as a backyard movie night, or camping, or virtual reality, has been acquired by New York-based XRC Labs. Financial details of the acquisition were not announced. Joymode was venture backed by Naspers, TenOneTen, Wonder, Struck Ventures, and Homebrew, and had raised more than $17M in total funding.

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Amid Boom Days for Biotech, Inhibrx Lines Up Another IPO Effort

Xconomy

Public investors are betting big on biotechs, and Inhibrx is looking to capitalize on the industry’s recent resurgence of initial public offerings. The La Jolla, CA-based company, which is developing drugs for cancer and a rare respiratory disease, has again applied for a listing on the Nasdaq, a filing that comes more than a year after it first outlined an IPO plan.

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Greenfly Signs Up SailGP

socalTECH

Santa Monica-based Greenfly , which develops brand advocacy software, and SailGP , which runs an annual global sail racing challenge, said on Wednesday that the two companies are in a partnership. According to the two, SailGP has deployed Greenfly's software platform for media collection and distribution. Financial details of the partnership were not announced.

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Top Strategies to Reduce Network Cost

Southern California Edison Blog

Your organization’s network may check the boxes for availability and capacity, but have you. considered whether you could further reduce network costs? Network infrastructure can be expensive to upgrade and manage, and organizations can find it. difficult to determine where they can cut costs. Enterprises looking to improve their network. setup should analyze their current infrastructure and determine what changes they can make to. eliminate extraneous expenses and reduce investment risks.

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Drizly Hacked, More Than 2.5 Million Accounts Compromised

socalTECH

Alcohol delivery app Drizly --which provides alcohol delivery across Southern California--has been hacked, with as many as 2.5 million accounts affected. Drizly told users that "no financial information was compromised", however, reports say that the breach included email addresses, birthdays, encrypted passwords, and delivery addresses, plus phone numbers, IP addresses, and geolocation data.

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BioTheryX Finds $35M More

socalTECH

San Diego-based BioTheryX , a biotechnology company focused on protein modulation, has raised $35M in a Series D funding, the company said on Tuesday. The funding was led by MSD Partners, L.P. According to the company, Robert Platek, a Partner and Portfolio Manager at MSD Partners L.P., will be joining the company's Board of Directors. BioTheryx says is will use the financing to accelerate expansion of its ongoing clinical trial of BTX-A51, aimed at treating AML (Acute Myeloid Leukemia).

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Anchore Expands In UK

socalTECH

Santa Barbara-based Anchore , a provider of security and compliance tools for the "container" market, said it is expanding its footprint internationally, with an office in the United Kingdom. According to Anchore, the new office in the UK will be for its sales and customer support teams, and it also plans additional hires. "Containers" are a software technique used to deploy and manage applications across the cloud, and are particularly popular for DevOps.

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Whistle Links With ThinkReservations

socalTECH

Los Angeles-based Whistle , which develops hotel messaging systems, has integrated its systems with ThinkReservations , a developer of online booking engines, the two said Tuesday. ThinkReservations provides its online booking engines to the small and medium sized lodging market. The companies said they already have run some initial integration with some test properties.

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Heal Partners With Humana, Raises $100M

socalTECH

Los Angeles-based in-home, healthcare provider Heal , as well as nationwide health insurance company Humana , announced a new partnership this morning, which includes a $100M investment in Heal by Humana. According to the two, the effort will focus on bringing primary care to the home through house calls and one-touch telemedicine. Humana and Heal said they will expand Heal's current footprint to offer primary care via virtual and in-home encounters to new geographical markets such as Chicago, C