L.A. Business Journal
MAY 17, 2021
Augmented reality and holographic technology exist largely as a novelty for most Americans. But as smartphone cameras evolve and 5G networks come online, many investors and businesses are betting that the technology will become commonplace.
socalTECH
MAY 18, 2021
For today's interview, we sat down and chatted with >Zeb Evans, the founder and CEO of San Diego-based ClickUp (www.clickup.com), the developer of a workplace productivity software platform which is based by such companies as Google, Airbnb, and Nike. ClickUp has raised $135M in venture capital so far. What is ClickUp? Zeb Evans: ClickUp is a workplace productivity platform, for putting all of your work in one place, including tasks, docs, goals, and chat.
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TechCrunch LA
MAY 20, 2021
Renovating a home is an exciting, yet often fraught-filled, endeavor. One startup that aims to help make the process simpler, cheaper and less stressful by helping people manage the home renovation process has raised $6 million to help it grow even faster. Builders VC led the round, which included participation from Celtic, Newfund and Wish co-founder Danny Zhang.
Berkonomics
MAY 20, 2021
Enterprise time as a measurable commodity. Let’s examine the challenges to a CEO in making use of enterprise time, one of your most valuable and often misused assets. Enterprise time, as opposed to personal time management, is the sum total of resources available to a company expressed in terms of time – time to develop, to debug, to produce, to deploy, to respond to issues, and to make changes in plans that are not working.
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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
MAY 17, 2021
Pasadena-based Embodied Inc. released a product last year called Moxie, an artificial-intelligence-enabled robotic companion for young children.
socalTECH
MAY 19, 2021
Los Angeles-based Digitl Brands Group, which owns a portfolio of what it calls "digital native" apparel brands, has closed a small, $10M initial public offering, the company said on Tuesday afternoon. The company says it sells its apparel through numerous brands on a both direct-to-consumer and wholesale basis. The company trades on the NADAQ as DBGI.
Southern California Tech Central brings together the best content for technical professionals in Southern California from the widest variety of industry thought leaders.
SoCal Tech Calendar
MAY 21, 2021
Thursday, May 27, 2021 -- LA BEST - LA Bioscience Ecosystem Summit 2021. The Los Angeles Bioscience Ecosystem Summit 2021 (LABEST) is the premier showcase for bioscience innovation in Los Angeles County. This event is a collaboration with colleagues from across the county to present promising academic research, entrepreneurial faculty investigators, as well as local start- up companies.
L.A. Business Journal
MAY 21, 2021
Social media giant Snap Inc. said it has paid out $130 million to content creators as part of its Snapchat Spotlight program.
socalTECH
MAY 20, 2021
Los Angeles-based cloud-based operations and document management software developer Docupace, which serves the wealth management industry, says it has acquired jaccomo, which develops a compliance, data integration, financial reporting, and advisor compensation accounting system. Financial details of the acquisition were not announced. Docupace said it will use the acquisition to expand its back office platform.
Startup Professionals Musings
MAY 15, 2021
The most successful entrepreneurs and executives I have seen are savvy business people first, and experts in their field second. This may seem counter-intuitive to technologists, especially in an era when technology seems to be driving the world. Yet the sad truth is that a technology not focused on a real problem is not a business, and will probably fail in the marketplace.
SoCal Tech Calendar
MAY 20, 2021
Wednesday, May 26, 2021 -- LA BEST - LA Bioscience Ecosystem Summit 2021. The Los Angeles Bioscience Ecosystem Summit 2021 (LABEST) is the premier showcase for bioscience innovation in Los Angeles County. This event is a collaboration with colleagues from across the county to present promising academic research, entrepreneurial faculty investigators, as well as local start- up companies.
L.A. Business Journal
MAY 17, 2021
Downtown-based cloud and digital technology company J2 Global Inc. saw a 20% jump in revenue in the first quarter as its digital media assets boomed.
socalTECH
MAY 20, 2021
Costa Mesa-based impact-focused venture capital investor CerraCap Cares announced this morning that it has made an investment in Aquagenuity, a startup that provides real time information about water quality. Size of the investment was not announced. CerraCap Cares, which says it is a women-led impact fund, said Aquagenity offers up an accessible database and a water scoring tool which provides details on how much lead is in drinking water.
Startup Professionals Musings
MAY 19, 2021
Most successful entrepreneurs will tell you that their primary motivation is to “change the world” and to build something lasting, not to make a lot of money. But the conventional wisdom is that employees work for money, above all else. Yet my own experience, and a still relevant McKinsey survey , leads me to believe that non-cash motivators may be more effective in the long term than financial incentives.
SoCal Tech Calendar
MAY 19, 2021
Tuesday, May 25, 2021 -- LA BEST - LA Bioscience Ecosystem Summit 2021. The Los Angeles Bioscience Ecosystem Summit 2021 (LABEST) is the premier showcase for bioscience innovation in Los Angeles County. This event is a collaboration with colleagues from across the county to present promising academic research, entrepreneurial faculty investigators, as well as local start- up companies.
L.A. Business Journal
MAY 17, 2021
Pasadena-based Embodied Inc. released a product last year called Moxie, an artificial-intelligence-enabled robotic companion for young children.
socalTECH
MAY 21, 2021
Los Angeles-based electric vehicle developer Fisker Inc. said Friday that it plans to build a new, all-electric vehicle for Pope Francis, after a visit to Vatican City by Fisker's co-founders, Henrik Fisker and Dr. Geeta Gupta-Fisker. According to the company, it plans to convert a Fisker Ocean into a vehicle for the Pope, including what it describes as a "modern, all-glass cupola" to be used for greeting the faithful.
Startup Professionals Musings
MAY 17, 2021
Many professionals in business, from startups to multi-nationals, assume that team leader or executive is an appointed position, and the skills come with the title. In reality, leadership is best demonstrated while not in a position of authority, and is a skill that must be sharpened every day of your life. Most experts agree that leadership, as perceived by people around you, is more about behavior than it is about specific skills or knowledge.
socalTECH
MAY 21, 2021
San Diego-based Evofem Biosciences, a developer of biopharmaceuticals for female reproductive health, reported it raised $50M in its previously announced public offering. It said it will net approximately $46.6M after underwriting discounts, commissions, and expenses. The company sold 50 million shares of its common stock, plus two year warrants on up to 50 million additional shares.
socalTECH
MAY 21, 2021
Irvine-based analytics software developer Alteryx says it has launched a program which allows educators, students, and life-long learners to access its training, software, and certifications for no cost. According to the company, its new education program, SparkED, is aimed at educators and students in a traditional education environment aspiring to achieve data science skills and bolster their resume, and career changers wanting to upskill for a competitive edge in today's job market.
socalTECH
MAY 21, 2021
San Diego-based Cordial, a developer of cross-channel marketing software used by such brands as Revolve, 1-800 Contacts, Backcountry, and Eddie Bauer, says it has named Raachel Bergman as its Chief Revenue Officer. Bergman previously served at such companies as Harland Clarke and Persado and Experian CheetahMail. The company said Bergman was General Manager at Experian CheetahMail, leading a team of over 650 employees and revenues of over $200M.
socalTECH
MAY 20, 2021
Carpinteria-based Procore, the construction management software developer which went IPO this morning, is now worth more than $11 billion in market value, after pricing at $67.00 per share, and ending its first day of trading at $88 per share-- $21.00 above its debut, up 31.34%. The IPO was underwritten by Goldman Sachs & Co., J.P. Morgan Securities, Barclays Capital, and Jefferies, along with Canaccord Genuity, KeyBanc Capital Markets, Oppenheimer & Co., Piper Sandler & Co., Stifel, Nicolaus &
socalTECH
MAY 20, 2021
San Diego-based BioTheryX, which is developing protein degradation technology for use in creating cancer medicines, has raised $92M in a Series E funding round, according to the company. The funding was led by Farallon Capital Management, and also included new investors Avidity Partners, Deep Track Capital, Janus Henderson Investors, Lumira Ventures, Point72, Rock Springs Capital, Surveyor Capital, Tekla Capital Management, Alexandria Venture Investors, along with existing investors.
socalTECH
MAY 20, 2021
Los Angeles-based Sunbit, a developer of technology that offers up financing at the point of purchase for auto dealership service centers, optical practices, dentist offices and specialty healthcare services, says it has raised $130M in a Series D funding round. The company says the new funding gives it a $1.1 billion valuation. The funding was led by Group 11, and also included Zeev Ventures, plus new investors Migdal Insurance, Harel Group, AltaIR Capital, and More Investment House.
socalTECH
MAY 20, 2021
Carpinteria-based construction management software developer Procore Technologies priced its IPO last night, saying it will sell 9,470,000 shares of its common stock at a price of $67.00 per share. The company starts trading this morning on the New York Stock Exchange under the symbol PCOR. The IPO priced above the company's initial estimated IPO range, which was $60.00 to $65.00 per share, indicating strong investor interest in the offering.
socalTECH
MAY 19, 2021
Santa Monica-based private equity investor Sole Source Capital said this week that one of its portfolio companies, Peak-Ryzex, has acquired Bar Code Direct, a value added reseller based in North Grafton, Massachusetts. Financial details of the transaction were not announced. Sole Source said the acquisition is the third, add-on acquisition it has made since acquiring Peak-Ryzex.
socalTECH
MAY 19, 2021
San Diego-based National Resilience, a new manufacturing and technology company focused on making sure countries can manufacture their own vaccines and other threapeutics, says it has received $163.8M in a funding from the Government of Canada, to modernize and expand its Ontario, Canada biomanufacturing site. The company said the move is part of Canada's efforts to improve in pandemic preparedness.
socalTECH
MAY 19, 2021
Los Angeles-based VideoAmp, a developer of software used to manage advertising across linear TV, streaming and digital media, says it has raised $50M in a debt financing. The funding came from Capital IP. Terms of that debt were not announced, however, VideoAmp said the non-dilutive funding also gives it the ability to draw up to $25M more in further financing.
socalTECH
MAY 18, 2021
San Diego-based Evofem Biosciences, which is developing biopharmaceuticals for women's contraception and related areas, says it has priced a $50M, public offering, and also will receive up to an additoinal $50M upon exercise of accompanying short-term warrant. The publicly held company, which trades on the NASDAQ as EVFM, says it intends to use the net proceeds from the offering for the continuation of full commercialization activities related to its lead produt, Phexxi, including continued dire
socalTECH
MAY 18, 2021
Los Angeles-based Narrativa, a developer of artificial intelligence software aimed at helping pharmaceutical companies with FDA drug approvals, says it has raised $1.3M in a financing round. Source of the new funding was not announced. According to Narrativa, it is using its AI software to automate the generation of Clinical Study Reports (CSRs) and other regulatory reports.
socalTECH
MAY 18, 2021
Los Angeles-based Canoo, an electric vehicle startup which has announced a number of futuristic looking vehicles--but has yet to deliver one to the market--is now under SEC investigation, according to a number of reports. Canoo's CEO, Tony Aquila, announced the SEC investigation on a conference call with analysts, describing the SEC effort as a "fact-finding inquiry".
socalTECH
MAY 17, 2021
Los Angeles-based Canoo, which is in the midst of developing its own, futuristic-looking electric vehicle, has started taking reservations for its yet-to-be-developed van, its "Lifestyle Vehicle". Canoo said that interested buyers can pay a $100 deposit for the vehicle, which it says will cost $34,750. The companies said the "Lifestyle Vehicle" will be available in 2022.
socalTECH
MAY 17, 2021
Goleta-based construction management software developer Procore is expected to have its IPO debut this week, planning to raise $592M at a $8.9 billion market cap. The company's software is used to manage construction projects, including plans, schedules, logistics, and many other aspects of that business. Procore has been eyeing an IPO since 2019. The IPO looks to be the first in the technology sector for the Santa Barbara area since Sonos went IPO in 2018.
socalTECH
MAY 17, 2021
San Diego-based Nuvve, a publicly held company developing "vehicle-to-grid" projects which would tie school buses and other commercial fleets into the electric grid, says it is in a $750M joint venture with private equity firm Stonepeak Partners LP. According to the two companies, they have created a new joint venture called Levo Mobility LLV, which will use Nuvve's vehicle-to-grid technology to accelerate the deployment of electric fleets, including thousands of zero-emission electric school bu
socalTECH
MAY 17, 2021
Symplr, the enterprise healthcare governance, risk management, and compliance software company backed by Santa Monica-based Clearlake Capital Group, says it is acquiring another healthcare software company, HealthcareSource. Financial details of the transaction were not announced. Symplr is buying HealthcareSource from another private equity firm, Francisco Prtners.
socalTECH
MAY 17, 2021
San Diego-based Neuropore Therapies, which is developing treatments for Parkinson's disease, reported today that it has received $20M in a milestone payment from UCB. Neuropore Therapeutics said the payment is related to its collaboration with UCB and the evaluation of UCB0599 for the treatment of Parkinson's Disease. Doug Bonhaus is President and CEO of Neuropore Therapies.
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