Sat.Jun 12, 2021 - Fri.Jun 18, 2021

Three qualities of a great leader

Berkonomics

There are lots of ways to measure a great leader. Here are three that should resonate with you as leader and with those who follow you.

LiveXLive Acquires Artist Development Firm Gramophone Media

L.A. Business Journal

Beverly Hills-based livestreaming platform LiveXLive Media Inc. will acquire New York-based artist development company Gramophone Media Inc. by the end of June

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7 Essential Steps From A Lone Entrepreneur To Success

Startup Professionals Musings

You can’t win as an entrepreneur working alone. You need to have business relationships with team members, investors, customers, and a myriad of other support people. That doesn’t mean you have to be a social butterfly to succeed, or introverts need not apply.

Yardi Donates $1.3M To Hospitals In India

socalTECH

According to Santa Barbara-based Yardi, it is donating $1.3M to hospitals in India, to help them in their battle against the ongoing pandemic. India--which officially has more than 380,000 deaths from COVID-19, with actual deaths potentially several times that--has suffered acute supply shortages in recent months as cases surged in the country. According to Yardi, it has 1700 employees in Pune, India, with many staff personally impacted by the COVID-19 surge in that country.

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.

Viterbi Startup Garage: Oceanside Chat: CleantViterbi Startup Garage: Oceanside Chat: Cleantech 2.0ech 2.0

SoCal Tech Calendar

Wednesday, June 23, 2021 -- Viterbi Startup Garage: Oceanside Chat: Cleantech 2.0: What Every Entrepreneur Needs To Know. Who: Aaron Fyke (Founder and Managing Partner of Thin Line Capital). What: Energy/Sustainability, Greentech, Cleantech, Climatetech - these are all names attempting to group together the multi-trillion dollar opportunities that deal with our energy system, our built infrastructure, and our global economy, as it moves to a low-carbon and more sustainable future.

VR Company Specular Theory Lands $4.5 Million Air Force Contract

L.A. Business Journal

Venice-based virtual reality software company Specular Theory Inc. secured a $4.5 million contract with the Defense Department to expand development of its training products for the Air Force

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More Trending

Formative Finds $70M In Series A

socalTECH

Santa Monica-based Formative, a developer of software used by K-12 teachers to assign and track homework assignments, has raised $70M in a Series A funding, the company said today. The funding was led by Summit Partners, and also included Emerson Collective, Fika Ventures, Mac Ventures and Rethink Education. The new funding round brings the company's funding up to around $77M. Formative's founders are Craig Jones (CEO) and kevin McFarland (COO).

Understanding How WiFi Networks Actually Work in Practice

AllTopStartups

Not that long ago, “WiFi” was a funny sound that tech professionals would throw around that no one else would understand.

K1 Invests $21 Million in Eltropy

L.A. Business Journal

Manhattan Beach-based private equity firm K1 Investment Management is making a $21 million investment in software company Eltropy Inc

6 Indications Of A Dysfunctional Leader In A Startup

Startup Professionals Musings

Founders almost always cite lack of money as the reason for failure, but if you look deeper, I believe the reason is more often about dysfunctional people and leadership. Sometimes it comes right back to the founder, in terms of a malaise often called “founder’s syndrome.”

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Cyvatar Takes $9M In Series A For Cybersecurity Efforts

socalTECH

Irvine-based Cyvatar, a startup which provides cybersecurity-as-a-service, has raised $9M as part of its Series A round, the company said this week. The company said the funding brings its total funding to $12M, all raised in the last eight months. The company said the funding was led by ATX Venture Partners, and also included CORTEC, one of its customers, and Bill Wood Ventures. The company said its service is available for organizations of any size and any level of cybersecurity expertise.

OneOf Plans to Make Affordable NFTs for Musicians

L.A. Business Journal

OneOf Inc., a company dedicated to releasing and minting nonfungible tokens, isn’t even a month old, and it already has plans to partner with celebrity artists like John Legend, H.E.R. and G-Eazy

Relativity Raises $650 Million for Large Reusable Rocket

L.A. Business Journal

Long Beach-based Relativity Space Inc. has raised $650 million in Series E funding to support development of the large, 3D-printed Terran R rocket

EVCS Signs LA Fitness On EV Fast Charger Deployment, Seeks Funding

socalTECH

Arcadia-based EVCS, an operator of an electric vehicle (EV) fast charging network, says it has signed a deal with Fitness International, LLC, the owner of LA Fitness, to install EV fast chargers at a number of its fitness centers. Financial details of the deal were not announced, and EVCS did not say how many fitness centers it will be installing its fast chargers at. The deal includes both LA Fitness and Esporta Fitness centers, and includes a revenue sharing deal on charging.

In-Charge Energy Rolls Out Commercial EV Charging System

socalTECH

Santa Monica-based In-Charge Energy said on Thursday that it has introduced a set of new hardware products for commercial, electric vehicle (EV) charging. According to the company, its In-Charge Energy DC Wall Box Pedestal works with 24kW ABB Terra DC chargers, and offers up a solution for fleet applications where walal mounting is not practical.

Former Avast CEO Steckler Dies Unexpectedly In Irvine

socalTECH

Vince Steckler, the former CEO of cybersecurity software developer Avast, has unexpectedly died in a car accident in Irvine, according to the software developer. According to Avast, Steckler passed away in a tragic car accident in Irvine, California, on June 15, 2021, at the age of 62. Steckler was active in the Orange County community, having recently donated $10.4M

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Snapchat Drops Speed Filter

socalTECH

Venice-based Snap, the parent company of Snapchat, has pulled a controversial filter, which had been accused of encouraging reckless driving. The "speed filter" had allowed users to capture how fast they were moving. The company has faced a number of lawsuits from families of users who had been injured or killed in car crashes, claiming the filter had resulted in those accidents. snap snapchat filter speed lawsuit accidents

Alliance For SoCal Innovation Aims To Connect Startups, Venture Capital

socalTECH

The Alliance for Southern California Innovation said on Thursday that it is launching a new program, the SoCal Venture Pipeline. According to the company, the new program will provide companies that have demonstrated clear market traction and provides targeted introductions to venture funds. The program is being funded by Silicon Valley Bank, with additional program support from Wilson Sonsini Goodrich & Rosati and KPPB, LP.

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Canoo Plans EV Factory in Oklahoma

socalTECH

Los Angeles-based Canoo, which is developing electric vehicles, says it plans to build a factory in Oklahoma. The company says it expects to employ up to 2000 workers at the location. The plans were disclosed in a presentation to investors by Canoo CEO Tony Aquila. Canoo--which has yet to deliver any vehicles--recently went public via a merger with a special purpose acquisition company (SPAC). The company said the factory is expected to open in 2023.

Tyvak Satellite Starts Delivering Images

socalTECH

Irvine-based satellite developer Tyvak said this morning tht its Tyvak-0130 satellite has been successfully been delivering thousands of images taken from orbit. According to the company, the satellite--launched as a rideshare on May 15th on a SpaceX Starlink mission--the company has completed in-orbit system checkout and commissioning of its Tyvak-0130 satellite, and has transmitted over 4,000 pictures back to earth.

Viasat Wins Install Deal With Flexjet

socalTECH

Carlsbad-based satellite communications systems and services provider Viasat has scored a win with fractional private jet travel provider Flexjet. according to the two, Viasat will install its in-flight connectivity systems on Flexjet's Bombardier Global, Gulfstream G450, G650 Fleets and Embraer Praetor 600 Aircraft. Finncial details of the partnership were not announced.

Clearlake Capital Buys Confluence Technologies

socalTECH

Santa Monica-based private equity investor Clearlake Capital said this morning that it is acquiring Confluence Technologies, a developer of software which is used by the investment industry to automate business processes at asset managers and service providers. Financial details of the acquisition were not announced. Confluence Technologies was owned by another private equity investor, TA Associates.

Hydrosat Scores $5M

socalTECH

Hydrosat, a space startup which got its start out of the Techstars Starburst Space Accelerator in Los Angeles, has raised $5M in a funding round, the company disclosed this morning. The funding was led by Cultivation Capital's Geospatial Technologies Fund, and also included Freeflow Ventures, the Yield Lab, Expon Capital, Techstars, Industrious Ventures, Synovia Capital, and the University of Michigan.

Lead Edge Capital Raises $150M Fund

socalTECH

Santa Barbara- and New York-based Lead Edge Capital, a private equity investor which focuses on growth stage investments in technology companies, said on Wednesday that it has raised $150M in a new fund. According to the company, the new fund will be used for public equity investments. Lead Edge Capital said the new fund brings the company's total capital under management to over $3 billion. Lead Edge Capital said the new fund came from both new and existing limited partners.

Romeo Power Sets CFO, Accounting Chiefs

socalTECH

Los Angeles-based electric powertrain developer Romeo Power announced this moring that it has named two new executives. The company said it has named Kerry A. Shiba as Chief Financial Officer, and appointed Yun Han as Chief Accounting Officer. Current CFO Lauren Webb is shift ing to become Chief Strategy and Commercial Officer. Shiba was previously CFO at Wesco Aircraft Holdings, and also served at similar roles at Superior Industries International, Inc. NYSE: SUP), Remy International, Inc.

RayzeBio Snags $108M for Cancer Drug Efforts

socalTECH

San Diego-based RayzeBio, a pharmaceuticals company which says it is developing targeted radiopharmaceutical drugs for cancer, has raised $108M in its Series C funding. The company said it has now raised a total of $258M.

Cloudbreak Health Merges With UpHealth, Now On NYSE

socalTECH

Los Angeles-based telehealth provider Cloudbreak Health has merged with Uphealth, Inc. and UpHealth Holdings, Inc., and is now trading on the NYSE as UPH, the company announced this morning. Financial details of the merger were not announced. According to the companies, Cloudbreak will now be known as Cloudbreak Health, an UpHealth company. Cloudbreak Health was backed by Kayne Partners.

SureCo Buys Tembi Health

socalTECH

Santa Ana-based SureCo, a provider of healthcare programs, said this morning that it has acquired Tembi Telehealth, a provider of a telemedicine network and platform. Financial details of the acquisition were not announced. Steven Richardson, the CEO of Tembi, joins SureCo as Chief Population Health Officer. Matthew Kim is CEO of SureCo. Tembi Health provides telemedcine services for physicians. sureco tembi health merger acquisition healthcare telehealth

MomentFeed Acquired By Uberall

socalTECH

Los Angeles-based MomentFeed, which develops location-based services and location marketing software for bricks and mortar retailers to better manage information on their locations, hours, and other information, has been acquired by Uberall, a Berlin-based provider of marketing software. Financial details of the acquisition of MomentFeed were not announced. According to Uberall, the acquisition was made as part of a $115M investment from Bregal Milestone, Level Equity, and United Internet.

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ClickUp Expanding In San Diego

socalTECH

San Diego-based productivity software developer ClickUp said this week that it is expanding in San Diego. According to the company, it is expanding in DivcoWest's DiamondView Tower. The company said the expansion comes after it doubled its workforce last year and plans to double headcount again over the next year. The company says it will take two full floors in the tower, and also will gain signage over Petco Park.

Heliogen Gets $108M For Concentrated Solar

socalTECH

Pasadena-based Heliogen, which is deeloping concentrated solar power technology, has raised $108M in two funding rounds, the company said on Tuesday. The company--which already has backing from Bill Gates--said the funding was led by steel producer ArcelorMittal, and also included Edison International, Prime Movers Lab, Ocgrow Ventures, A.T. Gekko, ESG Venture Capital, 8090 Partners, Gordon Crawford, and Rashaun Williams.

IKEA, Sonos Roll Out New Wi-Fi Speaker That Doubles As Wall Art

socalTECH

IKEA and Goleta-based Sonos have rolled out a new, Wi-Fi speaker collaboration, which turns a Sonos speaker into a piece of wall art. The new SYMFONISK picture frame isa vailable in black or white along with interchangeable fronts from IKEA that offer a variety of artwork options. Consumers are not able to put their own art on the speaker at the moment. symfonisk wifi ikea sonos speaker audio hardware equipment

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Camino Financial Expands Exec Team

socalTECH

Los Angeles-based fintech startup Camino Financial said today that it is expanding its management team, and has named Aram Gushchyan as Director of Growth and Roxane Herrera as Director of Corporate Development. Camino Financial's biggest backer is Mexican financial services company Credito Real, which led an investment in the company in 2019. Guschchyan previously was Director of Marketing and Analytics at Go.

Triller Eyes Public Markets Via Direct Listing

socalTECH

Los Angeles-based TrillerNet, the parent company of social media app Triller, is now looking at hitting the public markets via a direct listing, according to Reuters. Reuters, citing "people familiar with the matter" said Triller is looking to line up investors to raise $500M ahead of that direct listing, hoping to value to the company at more than $5 billion. Triller competes directly against TikTok.

Yardi Acquires We Are Forge For Visitor Management

socalTECH

Santa Barbara-based property management software developer Yardi announced today that it has acquired We Are Forge Ltd., a Bristol, UK-based software company which focuses on vivistor management and smart access control for the real estate market. We Are Forge Ltd. sells its products into the office, retail, industrial, flexible workspace and the education sectors. Financial details of the acquisition were not announced.

Virgin Orbit Plans To Go Public Via SPAC

socalTECH

Mojave-based Virgin Orbit, which is developing space launch technology which uses a modified 747 to send rockets into space, is planning to go public via a merger with a special purpose acquisition company (SPAC). According to UK publication Sky, Sir Richard Branson is in the midst of "advanced talks" to take Virgin Orbit public via a merger with NextGen Acquisition II. The deal would reportedly value Virgin Orbit at approximately $3 billion.

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