L.A. Business Journal
SEPTEMBER 13, 2021
Electric vehicles are touted as the future, especially in Los Angeles where the city’s climate goals call for 80% of vehicles sold to be electric by 2028 — seven years ahead of the state’s 2035 cutoff for gasoline-powered auto sales.
TechCrunch LA
SEPTEMBER 13, 2021
Last year at this time, SpotOn was on the brink of announcing a $60 million Series C funding round at a $625 million valuation. Fast forward to almost exactly one year later, and a lot has changed for the payments and software startup. Today, SpotOn said it has closed on $300 million in Series E financing that values the company at $3.15 billion — more than 5x of its valuation at the time of its Series C round, and significantly higher than its $1.875 billion valuation in May (yes, just th
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socalTECH
SEPTEMBER 16, 2021
San Diego-based life sciences giant Illumina says it has made investments in seven startups, as part of its accelerator program, the Illumina Accelerator. The company said that the investments were made as part of two different programs, the Illumina Accelerator Cambridge, UK, and the Illumina Accelerator San Francisco Bay Area. Illumina's startup efforts are led by Amanda Cashin, PhD, co-founder and Global Head of Illumina For Startups.
Berkonomics
SEPTEMBER 16, 2021
First, let’s recognize the problem. Here’s one for executives of any company with next generation products in mind. As your business grows more complex and there are more employees to manage and more customers to care for, slowly you will notice that more and more time of your chief innovation officer or system architect or R&D department is spent focused upon enhancements in response to needs of the user base.
Advertiser: Aggregage
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.
L.A. Business Journal
SEPTEMBER 13, 2021
When Joanna McFarland grew frustrated that she couldn’t drop her son off at karate practice because she had to be at work, she started commiserating with other moms.
TechCrunch LA
SEPTEMBER 13, 2021
When people talk about “online food delivery” services, chances are that they’ll think of the Uber Eats, Instacarts and Getirs of this world. But today a startup that’s tackling a different aspect of the market — addressing the supply chain that subsequently turns the wheels of the bigger food distribution machine — is announcing a big round of funding as it continues to grow.
Southern California Tech Central brings together the best content for technical professionals in Southern California from the widest variety of industry thought leaders.
Startup Professionals Musings
SEPTEMBER 15, 2021
More entrepreneurs want to be socially responsible these days, but fear a negative impact on profits, growth, and the ability to find an investor. In the short run, there are real costs associated with the “triple bottom line” of maximizing profit, people (social), and planet (environment). But very quickly, it is becoming obvious to startups that the value and satisfaction exceeds the costs.
L.A. Business Journal
SEPTEMBER 16, 2021
Inspiration4 proves that the company is making headway on its mission of opening space travel to all.
Steve Reich
SEPTEMBER 11, 2021
A fun conversation with Dave and Tanner.
socalTECH
SEPTEMBER 14, 2021
San Diego-based Truepic, a startup that provides photo verification technology, said today that it has raised $26M in a Series B funding round. The funding was led by M12, and also included Adobe, Sony Innovation Fund by IGV1, Heart Ventures, and individuals from Stone Point Capital. According to the company, the funds will go to secure its technology.
Startup Professionals Musings
SEPTEMBER 17, 2021
Most aspiring entrepreneurs believe that a great idea alone will assure business success. Experts argue that it’s more important to have a great plan, and personal business acumen. Hardly anyone mentions selling principles. Yet in this age when customers have a thousand alternatives, and are overwhelmed by a multitude of messages, sales efforts can make or break a business.
L.A. Business Journal
SEPTEMBER 17, 2021
Individual investors include Bono, Kerry Washington, Tom Brady and Reddit co-founder Alexis Ohanian.
socalTECH
SEPTEMBER 17, 2021
Los Angeles-based digital performance advertising company Ad.net announced this week that it has named Brandon Caudill as the company's new Senior Vice PResident of Business Development. The company--which serves brands and agencies--said that Caudill was previously an early employee at ZergNet. Ad.net is led by CEo Jon Waterman and backed by Clarion Capital Partners.
socalTECH
SEPTEMBER 17, 2021
Los Angeles-based live shopping streaming marketplace operator Whatnot said on Thursday that it has raised $150M in a Series C funding. The funding came from Andreessen Horowitz, YC Continuity, and new investor CapitalG, along with angel investors Andre Iguodala, Logan Paul, Gokul Rajaram, and Nilam Ganenthiran. Whatnot offers up a live stream shopping platform and marketplace aimed at collectors and enthusiasts.
socalTECH
SEPTEMBER 17, 2021
Santa Monica-based direct-to-consumer brand Outer, which sells outdoor living furniture and related products, has raised $50M in a Series B funding round, the company said this week. The funding was led by Capital Today, and also included Tribe Capital, C Ventures, TRAC VC, and Upfront Ventures plus Sequoia Capital China, Mucker Capital, Mantis VC, Unpopular Ventures, and Reimagined Ventures.
socalTECH
SEPTEMBER 17, 2021
Los Angeles-based secondhand, luxury fashion goods marketplace Tradesy has raised $67M more in a Series D funding round, according to the company. The funding was led by Foris Ventures, the family office of venture capitalist John Doerr. Tradesy is led by founder and CEO Tracy DiNunzio. The company sells pre-owned, luxury fashion products, many of which are worn only a few times.
socalTECH
SEPTEMBER 16, 2021
Irvine-based property information provider CoreLogic says it has acquired Next Gear Solutions, a provider of a digital workflow platform for the property restoration industry. Financial details of the buy were not announced. Next Gear Solutions was based in Oxford, Miss., and is used by property insurers and restoration contractors trust to manage claims handling workflow.
socalTECH
SEPTEMBER 16, 2021
Hawthorne-based SpaceX successfully launched four, non-professional astronauts to space on Wednesday, the first time a SpaceX capsule has been used to take private citizens to space. The company's Inspiration4 mission was bankrolled by one of those citizens, billionaire Jared Isaacman, who made his fortune as the founder and CEO of Shift4 Payments. The four are expected to spend three days orbiting the earth before returning to the planet.
socalTECH
SEPTEMBER 16, 2021
Irvine-based billing and payments software startup Chargezoom has raised $2M in a seed funding round, the company said on Wednesday. The funding was led by Okapi Venture Capital and also included Saas Ventures. Chargezoom develops a software platform that helps businesses automate accounts receivable, billing, and payments. The startup is led by CEO Matt Dubois.
socalTECH
SEPTEMBER 15, 2021
Los Angeles-based LiveXLive Media, which operates both an online livestreaming and pay-per-view business, says it is going through a major rebranding, and plans to spin out its pay-per-view business as a separate company. According to LiveXLive, it plans to change its name to LiveOne, and will spin out its PPV business as a public company called PPVOne.
socalTECH
SEPTEMBER 15, 2021
Newport Beach-based Indi, which operates an app and platform which helps individuals make money through direct sales to their social connections, says it has added a new "live events" feature for its app. According to the company, the new Live Events feature collaboration, sharing a product or service, hosting a Q&A session or serve as a meetup place for like-minded individuals.
socalTECH
SEPTEMBER 15, 2021
Los Angeles-based Appetize, the developer of point-of-sale ordering apps serving the restaurant, sports, entertainment, and hospitality business, has been acquired by San Francisco-based SpotOn, the companies said on Tuesday. Financial details of the acquisition were not announced. SpotOn announced the buy along with a $300M, Series E funding round.
socalTECH
SEPTEMBER 15, 2021
Los Angeles-based influencer marketing startup CreatorIQ has raised $40M more in funding, according to the company. According to CreatorIQ, the new funding round came from existing investors TVC Capital, Kayne Partners Fund, the growth private equity group of Kayne Anderson Capital Advisors, Affinity Group, and Unilever Ventures, plus new investor Silver Lake Waterman.
socalTECH
SEPTEMBER 15, 2021
Hawthorne, California-based SpaceX is getting set to launch its first ever, space tourism focused mission today from Florida. According to SpaceX, there's a give-hour launch window today opening at 8:02 p.m. for the Inspiration4 mission, which it says will be the world's "first ever all-civilian human spaceflight". The mission is thanks to billionaire Jared Isaacman, founder of Shift4 Payments, who paid for the entire launch.
socalTECH
SEPTEMBER 15, 2021
Quibi, the short-lived, short-form-mobile-video startup run by Jeffrey Katzenberg, is transferring its mobile video technology to another company, Eko, after Eko filed a patent infringement lawsuit against Quibi. Quibi--which shut down its operations last year--continues to exist as a legal entity, despite no longer operating as a company. According to the two, QBI Holdings, the current owner of Quibi's assets, will transfer the intellectual property behind its mobile video technology to Eko.
socalTECH
SEPTEMBER 14, 2021
San Diego-based i2020 Acclerator, a startup accelerator company which is backed by Torrey Pines Investment, announced this morning that it has launched two new startups. The company said that it has launched Gwynant Therapeutics and Celyn Therapeutics, both of which will focus on oncology, bringing proprietary small molecule products to the clinic targeting cancer.
socalTECH
SEPTEMBER 14, 2021
Symplr, the enterprise healthcare software company owned by Santa Monica-based private equity investor Clearlake Capital Group, said this morning that it has agreed to acquire Halo Health, a provider of clinical communication and collaboration software. Financial details of the transaction were not announced. The deal was backed both by Clearlake and Charlesbank Capital Partners.
socalTECH
SEPTEMBER 14, 2021
Hawthorne-based SpaceX is planning its first ever, all-civilian space launch today, saying it is targeting a five hour launch window opening at 8:02 p.m. EDT. The company said it the "Inspiration4" mission will launch aboard a SpaceX Falcon 9 rocket and Dragon spacecraft from Launch Complex 39A at NASA's Kennedy Space Center in Florida. The mission purports to be focused on the "study of the human body in space", but is one of a series of space tourism efforts by a number of companies.
socalTECH
SEPTEMBER 14, 2021
Los Angeles-based e-bike brand Retrospec said on Tuesday that it has launched a brand new product, the Valen Rev, a "moto-style" electric bike it says has a 50 mile range and is aimed at the "everyday rider". The company said the new e-bike costs $1799.99, and features a 48v motor, 6 levels of pedal assist, and a 50 mile range. Retrospec sells both e-bikes and more traditional bicycles, along with paddleboards, longboards and skateboards, and other active lifestyle products.
socalTECH
SEPTEMBER 14, 2021
Santa Monica-based fintech startup Grow Credit, which helps consumers build their credit score through payments for subscription services, said on Tuesday that it raised $106M in a combination of equity and debt. The funding included $6.3M in equity, and $100M in debt. According to the company, the equity portion of the funding included Mucker Capital and Commerce Ventures, plus angels Jason Gardner (Marqueta), Jason Robins (DraftKings), Baron Davis (NBA star), Will Kassoy (Omaze), Matt Higgins
socalTECH
SEPTEMBER 13, 2021
One of the portfolio companies of Los Angeles-based private equity investor Levine Leichtman Capital Partners has made a big acquisition, the company said this morning. According to Levine Leichtman, Monte Nido & Affiliates, its portfolio company, has acquired Walden Behavioral Care. Financial terms of the deal were not announced. Monte Nido & Affiliates is based in Miami, Florida; Walden Behavioral Care is based in Waltham, Massachusetts.
socalTECH
SEPTEMBER 13, 2021
Los Angeles-based MasonHub, a venture-backed provider of fulfillment technology and services, is extending its footprint on the East Coast, saying this morning that it has opened up a 200,000 square-foot East Coast fulfillment center in Wilkes-Barre, PA. The company said the new fulfillment center will enable it to offer up two-day ground shipping to 90 percent of U.S. customers.
socalTECH
SEPTEMBER 13, 2021
Los Angeles-based private equity investor Diversis Capital Management said this morning that it has raised a new, $675M fund. The company said its new fund, Diversis Capital Partners II, exceeded its target of $500M. The company said it reached the $675M in commitments just three months after its formal launch. The new fund will primarily in businesses based in North America, and selectively in Europe and Australia, and is focused on focused control private equity investments in lower middle-mar
socalTECH
SEPTEMBER 13, 2021
Virgin Galactic, the space tourism venture of Sir Richard Branson, has delayed its next test flight, due to what it described as a "potential manufacturing defect" in a component of its flight systems. According to the company, it was preparing for its next test flight, the "Unity 23" flight with the Italian Air Force, when a third-party supplier flagged a "potential manufacturing defect in a component of the flight control actuation system", causing the company to delay the planned flight.
Startup Professionals Musings
SEPTEMBER 12, 2021
As a startup mentor and investor, I am approached regularly by aspiring entrepreneurs who assert that business plans take too much time, are inaccurate, and rarely add value. They cite sources like Profitable Venture Magazine, “ Why Business Plans are a Waste of Time ” and this Forbes article. From my perspective, much of this advice is urban legend and just plain wrong.
Startup Professionals Musings
SEPTEMBER 11, 2021
Almost every early-stage startup who has approached investors for funding has heard the innocuous sounding rejection “I love your idea, but come back when you have more traction.” What does traction really mean to investors, and how much is enough? Let me try to clarify the rules, and what it takes to win at this game. First of all, a definition. Traction is evidence that your product or service has started that “hockey- stick” adoption rate which implies a large market, a valid business model,
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