Sat.Jan 07, 2017 - Fri.Jan 13, 2017

Los Angeles tech companies take a victory lap with planned tech job fair

TechCrunch LA

2016 was a good year to be a tech startup in LA, and, with the $25 billion planned public offering for the city’s startup darling, Snap Inc., coming up, the future’s so bright entrepreneurs might want to wear… Spectacles.

MobileCause Raises $15M For Nonprofit Software

socalTECH

Los Angeles-based nonprofit fundraising and crowdfunding software platform developer MobileCause has raised $15M in a Series B funding, according to the company. The funding came from growth equity firm Level Equity. As part of the funding, Levil Equity's Sarah Sommer has joined the company's board. MobileCause said the new funding will go towards "aggressive" product innovation and expansion in the US and internationally. MobileCause is led by CEO Sean MacNeill. READ MORE>>.

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Smart Voice Assistants Will Spread From Talking Devices To Apps in 2017

Xconomy

Millions of consumers who used to type their search questions on a laptop or the tiny keys of a smartphone are now simply telling a tabletop device what they want.

Silicon Beach Report Jan. 11: SpaceX Explains Plans to Land Three Boosters at Once

L.A. Business Journal

SpaceX explains plans to land three boosters at once, inside LA 2024’s social media strategy for winning the Olympics, and Global Eagle fully rents out a satellite

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Venture Capital Investment in Los Angeles Drops

L.A. Business Journal

The flow of venture capital dollars invested into Los Angeles-area companies fell 16.3 percent from a high of $4.17 billion in 2015 to $3.49 billion last year, according to a report by Dow Jones Venture Source

South Bay Monday Club

SoCal Tech Calendar

Wednesday, January 18, 2017 -- South Bay Monday Club. Email fredvmc@earthlink.net.

Report: Crosscut Ventures Launching Fourth Venture Investment Fund

socalTECH

Los Angeles-based venture capital investor Crosscut Ventures has reportedly started approaching limited partners (LPs) for investments in a new fund, its fourth. Crosscut's last fund, Crosscut Ventures 3, was worth $75M. The report, from the Pro Rata newsletter, said there's "a chance" that the new fund will be double in size of the last fund. Crosscut has not yet filed regulatory details on the new fund. Crosscut Ventures is managed by Rick Smith, Brian Garrett, Brett Brewer, and Clinton Foy.

Biotech Roundup: JPM Deals, Gender Diversity, PCSK9 Battle & More

Xconomy

This past week, the biopharma industry made its annual January pilgrimage to San Francisco for the J.P. Morgan Healthcare Conference. 2016 was a whirlwind year in biotech, and the biopharma gods rewarded attendees with a multi-day monsoon to slog through to get from one meeting to the next. Earlier today, Alex Lash and I offered a few tidbits from our notebooks —more to come later. But here are many of the other headlines to emerge from J.P.

Silicon Beach Report Jan. 12: Venture Capital Investment in Los Angeles Drops

L.A. Business Journal

Venture capital investment in Los Angeles drops, Honest Co. recalls baby powder, Snap Inc. sued for alleged patent infringement, and more

SiliconBeach Professionals

SoCal Tech Calendar

Tuesday, January 17, 2017 -- SiliconBeach Professionals - JAN 19TH 2017 Mixer at Viceroy by Google. Silicon Beach is the epicenter for the Digital Elite and a hotbed for tech start ups. Most importantly it is taking place in our backyard. We are here to connect LA's brightest and most innovative young minds. See https://www.eventbrite.com/e/siliconbeach-professionals-jan-19th-2017-mixer-at-viceroy-by-google-tickets-30089376134.

SnapMD Adds $3.25M In Series A

socalTECH

Los Angeles-based SnapMD , which develops telemedicine software and technology, announced this morning that it has added $3.25M in a Series A financing extension. The company said the funding brings its total raised to $9.15M. The startup, led by President and CEO Dave Skibinski, said the new funds go to expand its sales and marketing efforts, and drive revenue through its channel partner programs.

J&J, NY State to Form Biotech Incubator in Big Apple’s Genome Center

Xconomy

New York State Governor Andrew Cuomo is planning to use some of the cash from his recently announced $650 million biotech initiative on Manhattan’s biggest life sciences problem—lack of lab space. Cuomo will put $17 million in state funding towards a new biotech startup incubator that will be situated in the New York Genome Center in Lower Manhattan. The incubator will take up the third floor of the NYGC—about 30,000 square feet of space in the SoHo neighborhood.

Silicon Beach Report Jan. 10: Snap Inc. Places International Headquarters in London

L.A. Business Journal

Snap Inc. places international headquarters in London, Lionsgate invests in e-sports team Immortals, and crowd-finance startup MobileCause raises $15 million

Can you pierce layers in supplier–customer partnerships?

Berkonomics

I recently experienced an amazing effort of outreach by a vice president of a large national customer asking for a meeting with the product development team of a critical supplier, one of “my” companies.

Amgen Invests $30M In Immatics, Up To $1 Billion In Future Payments

socalTECH

Thousand Oaks-based Amgen announced this morning that it has made a $30M investment in a German company developing cancer immunotherapy, Immatics Biotechnologies GmbH. According to Amgen, the deal could potentially be worth over $1 billion in milestone payments plus royalties.

Correlation Ventures Raises $200M, Maintains its “Moneyball” Strategy

Xconomy

Correlation Ventures, a co-investing venture firm that uses analytic software to optimize its decisions, said today it has raised $200 million for its oversubscribed second fund.

Silicon Beach Report Jan. 9: Court Approves British Company’s Bid for Bankrupt Nasty Gal

L.A. Business Journal

Court approves British company’s bid for bankrupt Nasty Gal, SpaceX delays rocket launch one week, telemedicine platform SnapMD raises $3.25 Series A extension, and more

Startup Resolution 2017: Embrace Believers, Bounce Skeptics & Keep Moving

Xconomy

The holiday period is a great time for reflection and then behavior modification – often referred to as resolutions. While a bit artificial to the logical engineer, this opportunity can be helpful. This year, my favorite insight came from a former student and employee, Elliot Cohen, co-founder of PillPack.

Biopharma Leaders Call for Gender Diversity Amid J.P. Morgan Conference

Xconomy

A group of more than 100 prominent life sciences executives, investors, and business leaders have signed an open letter calling on the industry to step up efforts to increase gender diversity. The letter was published Wednesday , on the second to last day of the annual J.P.

Snap Inc: No, We Don't Have A New HQ In London

socalTECH

Venice, California-based Snap, Inc. , the parent company of Snapchat , said on Tuesday that it has not established a new international headquarters in London--despite media reports. The company said it has "one HQ, in Venice", and the changes in London simply involved billing advertising revenue in the UK through a UK entity. The change will allow the company to pay taxes in the UK, according to the company, so that it can be a "good local partner as we grow our business." READ MORE>>.

Protecting America’s Tech Prowess Amid the Hostile Rhetoric of 2017

Xconomy

With the inauguration of Donald Trump as president on January 20th, the editors asked some of our Xconomists to offer their thoughts on “How could the incoming administration significantly affect your industry?” My biggest concern would be a failure to recognize and take full advantage of the fact that America’s biggest asset is its technological prowess.

Trump Slams Drug Companies, Says Medicare “Bidding” Is Coming

Xconomy

Oh, the power of a Donald Trump sound bite. On the campaign trail and as president-elect he has made occasional noises about drug pricing—giving the U.S. Medicare system, the largest buyer of drugs in the world, the right to negotiate prices, for instance. This morning, in his first press conference, Trump went further. He said drug companies are “getting away with murder” because of the prices they charge. Here’s the transcript, courtesy of NPR.

Press 19

Moonshots Gets Big Exit At Harvest.ai

socalTECH

Los Angeles-based venture investment firm Moonshots Capital , which is led by Kelly Perdew, has seen a big exit via the acquisition of San Diego's Harvest.ai by Amazon Web Services. The deal, which has not yet been formally announced, was reportedly worth around $20M. Moonshots and fellow investors, including Trinity Ventures, had invested only $2.3M in Harvest.ai, which develops cybersecurity software aimed at data loss prevention.

Citrix Sets January Date For GoTo Spinoff

socalTECH

Citrix Systems said on Friday that it has set a date of January 20th, to spin out its "GoTo" family of service offerings. That business--headquartered in Santa Barbara--will become a separate subsidiary called GetGo , which will merge with a subsidairy of LogMeIn. The spinout will result in the distribution of shares of LogMeIn to current Citrix stockholders, currently.1718 of a share of LogMeIn common stock for each share of Citrix common stock owned by a shareholder.

Notes From The JPM ’17 Vortex: Trump, Rainstorms & The Price You Pay

Xconomy

[ Editor’s note: Ben Fidler contributed to this report ] The week of frenetic data sharing, deal talking, and party hopping of the J.P. Morgan Healthcare Conference—and the events that have mushroomed around it—took a punch to the gut just as most attendees were wrapping up and checking their outbound flight status.

Press 16

Ivantis Finds $25M For Microstent Surgery Devices

socalTECH

Irvine-based medical device developer Ivantis , which is developing microstents for minimally invasive glaucoma surgery, has raised $25M in a Series C funding, the company announced today. The funding was led by RA Capital Management, a new investor, and also included Merieux Developpement, along with existing investors. The company said the funding gives it runway until 2020, and support commercialization of its product in the United States.

MatriSys Bioscience Finds $1.5M From Tech Coast Angels

socalTECH

San Diego-based MatriSys Bioscience , which is developing treatments for treating skin and dermatologic conditions, says it has raised $1.5M in a funding round from the Tech Coast Angels. The lead investor in the investment was Jeff Friedman, MD, Ph.D., who is head of the TCA's Life Sciences Committee. The company's technology is based on skin microbiome research developed at the University of San Diego, in the labs of Professor Richard Gallo.

Social Fund-raising Website GoFundMe Buys Detroit Rival CrowdRise

Xconomy

GoFundMe, the Redwood City, CA-based fund-raising platform for charities and nonprofits, has acquired CrowdRise , a Detroit, MI-based rival founded by entrepreneurs Robert Wolfe and Jeffrey Wolfe, and Hollywood philanthropists Edward Norton and Shauna Robertson. Financial terms were not disclosed in a statement issued Tuesday by GoFundMe. Brad Damphousse and Andy Ballester founded GoFundMe in San Diego in 2010.