*socaltech.com <http://socaltech.com> TechNews - Tuesday, January 29, 2019* Edited by Benjamin F. Kuo ISSN: 1524-6736 http://www.socaltech.com/News ------------------------------
*Sponsored By * TVC Capital LLC (www.tvccapital.com) Investments and acquisitions of growing software companies. Silicon Valley Bank (http://www.svb.com). Make next happen now. Stubbs Alderton Markiles, LLP (http://www.stubbsalderton.com). Business. Technology. Law. Vision. PricewaterhouseCoopers (http://www.socaltech.com/pwc). Key info (http://www.keyinfo.com) infrastructure ~ connectivity ~ co-location ~ cloud Singer Lewak (http://www.singerlewak.com) Accounting and Consulting for Growing and Innovative Businesses ------------------------------ *Headlines * - CoverHound Collects $55M For Insurance Marketplace <#m_-6662687664630726440_0077194> - ObEN Technology Used In Chinese New Year's Broadcast <#m_-6662687664630726440_0077191> - Snap Names Interim CFO <#m_-6662687664630726440_0077190> - BioDuro Acquired By Advent International <#m_-6662687664630726440_0077193> - Esri Backs Open Government Data Efforts <#m_-6662687664630726440_0077192> - LA's Century Park Capital Acquires IT Services, Software Company <#m_-6662687664630726440_0077189> - LA Metro Aims To Solve Last Mile To Public Transit Via Ridesharing <#m_-6662687664630726440_0077188> - HireRight Swizzles Branding After $1.4 Billion Merger <#m_-6662687664630726440_0077186> - HeyTutor Raises $1.0M In Funding <#m_-6662687664630726440_0077185> - Clearlake's Perforce Buys Rogue Wave Software <#m_-6662687664630726440_0077180> *Marketplace* - Stubbs Alderton & Markiles Preccelerator <#m_-6662687664630726440_ad694> - Square 1 Bank <#m_-6662687664630726440_ad695> - SoCal IP Law Group LLP - Serving the IP Needs of Technology Innovators <#m_-6662687664630726440_ad611> *Tuesday, January 29, 2019* *BDO - Southern California Technology Industry Team <http://www.bdo.com>* BDO USA, LLP is a professional services firm providing assurance, tax, and advisory services to publicly traded and privately held companies through more than 60 offices domestically and 160 countries globally. Our Southern California technology industry team professionals have deep experience helping online, software, hardware, and cleantech businesses in the local ecosystem to navigate the many issues affecting their businesses and to help them meet their larger strategic goals. Our team provides a wide range of guidance in the key issues effecting technology companies including, M&A advisory, initial public offerings, tax planning and consulting, intellectual property agreements, financial reporting and regulatory compliance matters. For more information, please contact our LA Technology leaders Anthony Ferguson, Tim Clackett, and Kris Kaufmann at [email protected]. http://www.bdo.com *CoverHound Collects $55M For Insurance Marketplace* <http://www.socaltech.com/fullstory/0077194.html> CoverHound, the online insurance shopping marketplace with offices in Westlake Village, has raised $55M more in a funding round, the company said this morning. The funding was led by Hiscox, and also included Chubb, Aflac Ventures, and MS&AD. The company says it has now raised $110M in total. Coverhound's offices are split between San Francisco and Westlake Village. Coverhound is led by CEO Keith Moore. (More... <http://www.socaltech.com/fullstory/0077194.html>) *ObEN Technology Used In Chinese New Year's Broadcast* <http://www.socaltech.com/fullstory/0077191.html> Pasadena-based ObEN, which develops technology to help people create a personal, AI-driven avatar which looks and sounds like you, reported a win in China, for a big New Year's broadcast for China Central Television (CCTV). According to ObEN, its technology was used to create "AI hosts" for CCTV's Network Spring Festival Gala, which aired on Monday. ObEN said its AI hosts performed alongside their human counterparts for the broadcast for Chinese New Year. (More... <http://www.socaltech.com/fullstory/0077191.html> ) *Snap Names Interim CFO* <http://www.socaltech.com/fullstory/0077190.html> Santa Monica-based Snap Inc., the parent company of Snapchat, said Monday afternoon that it has named Lara Sweet as its interim Chief Financial Officer and principal financial officer. Sweet is the company's current Chief Accounting Officer. Sweet replaces Snap's current CFO, Tim Stone, who is leaving on February 5th. According to Snap, it has initiated a search for a permanent Chief Financial Officer. (More... <http://www.socaltech.com/fullstory/0077190.html>) *BioDuro Acquired By Advent International* <http://www.socaltech.com/fullstory/0077193.html> San Diego-based BioDuro, a life sciences contract research and development organization, has been acquired by private equity investor Advent International, the companies said over the weekend. Financial details of the majority, strategic investment in BioDuro were not announced. (More... <http://www.socaltech.com/fullstory/0077193.html>) *Esri Backs Open Government Data Efforts* <http://www.socaltech.com/fullstory/0077192.html> Redlands-based Esri, which develops geographical information systems (GIS) software used to map and visualize data, said today that it supports the enactment of the federal Foundations for Evidence-Based Policymaking Act. The new law promotes opening up data usage by the public of government data "by dafulat", making that data machine readable and freely usable. According to Esri, its ArcGIS hub software helps government agencies meet those new open data law requirements. (More... <http://www.socaltech.com/fullstory/0077192.html>) *LA's Century Park Capital Acquires IT Services, Software Company* <http://www.socaltech.com/fullstory/0077189.html> Los Angeles-based Century Park Capital Partners, a private equity investor focused on family businesses, owner-operated companies and corporate divestitures, said on Monday afternoon that it has completed a majority recapitalization of Florida-based software and IT services company MCCi. Financial details of the deal were not announced. (More... <http://www.socaltech.com/fullstory/0077189.html>) *LA Metro Aims To Solve Last Mile To Public Transit Via Ridesharing* <http://www.socaltech.com/fullstory/0077188.html> The Los Angeles Metropolitcan Transportation Authority (LA Metro) announced a new program Monday, which is aimed to solve the "last mile" problem of connecting people to public transit. According to the LA Metro, it has inked a deal with ridesharing service ia, which will give riders a way to get to three Metro stations--Artesia, El Monte, and North Hollywood--through Via's app. The new ride service will cost $1. (More... <http://www.socaltech.com/fullstory/0077188.html>) *HireRight Swizzles Branding After $1.4 Billion Merger* <http://www.socaltech.com/fullstory/0077186.html> Irvine-based HireRight, which offers up employment background check, drug testing, education verification, and other related online services, said today that it has launched a new branding effort. The company said the branding includes a "new look". The new branding also includes a new logo for the company. HireRight is led by CEO Guy Abramo. The company recently went through a merger with GIS, another background screening company. HireRight and GIS announced that merger effort in May of 2018. (More... <http://www.socaltech.com/fullstory/0077186.html>) *HeyTutor Raises $1.0M In Funding* <http://www.socaltech.com/fullstory/0077185.html> Los Angeles-based HeyTutor, which operates an online marketplace to help connect students with in-home, tutoring services, has raised approximately $1.0M in what looks like a convertible note funding, based on a regulatory filing by the company. Details on the funding round, which is likely a bridge into a full equity funding, have not been announced. The funding was disclosed on Friday in a publicly available filing. HeyTutor is led by CEO Skyler Lucci. (More... <http://www.socaltech.com/fullstory/0077185.html>) *Clearlake's Perforce Buys Rogue Wave Software* <http://www.socaltech.com/fullstory/0077180.html> Santa Monica-based private equity investor Clearlake Capital and its portfolio company, Perforce Software, have acquired embedded software development tools provider Rogue Wave Software, the firms said last week. Financial terms of the buy were not announced. Perforce is a developer of source code control and other tools used by software developers. The companies said that this is the sixth acquisition by Perforce in the last two years. (More... <http://www.socaltech.com/fullstory/0077180.html>) *Stubbs Alderton & Markiles Preccelerator <http://stubbsalderton.com/preccelerator/>* Accelerating Growth for Early Stage Innovation The Preccelerator® Program is a platform offered to select start-up companies out of the Santa Monica office of Stubbs Alderton & Markiles, LLP that provides interim office space, sophisticated legal services, mentorship and access to a strategic perks portfolio with the objective of helping you grow your idea from business concept to funded startup. The Preccelerator® Program provides these benefits to as many as 10 promising young startups in separate growth tracks. http://stubbsalderton.com/preccelerator/ *Square 1 Bank <http://www.square1bank.com>* Square 1 Bank is a division of Pacific Western Bank, a Los Angeles-based commercial bank with over $21 billion in assets. A full service financial services partner to entrepreneurs and their investors, Square 1 provides clients flexible resources and attentive service to help their companies grow. Square 1 offers a broad range of venture debt, treasury and cash management solutions through offices in top innovation centers: Atlanta, Austin, the Bay Area, Boston, Chicago, Denver, Durham, Los Angeles, Minneapolis, New York, San Diego, Seattle and Washington, DC. Pacific Western Bank is a wholly-owned subsidiary of PacWest Bancorp (NASDAQ:PACW). For more information, visit www.square1bank.com, or send an email to [email protected]. *SoCal IP Law Group LLP - Serving the IP Needs of Technology Innovators <http://www.socalip.com>* IP Litigation . IP Transactions . Patent & Trademark Prosecution . IP Strategy . Westlake Village . Santa Barbara . Irvine. [email protected] 805-230-1350 www.socalip.com ------------------------------ *Recent Funding <#m_-6662687664630726440_funding>* 1/25/19 Trust & Will <http://www.socaltech.com/intelligence/?action=showdeal&id=95160> San Diego $2.00 M 1/24/19 Wheels <http://www.socaltech.com/intelligence/?action=showdeal&id=95158> Los Angeles $37.00 M 1/24/19 Modulated Imaging <http://www.socaltech.com/intelligence/?action=showdeal&id=95159> Irvine $7.00 M 1/22/19 REX <http://www.socaltech.com/intelligence/?action=showdeal&id=95135> Woodland Hills $45.00 M 1/14/19 Wiliot <http://www.socaltech.com/intelligence/?action=showdeal&id=95066> San Diego $30.00 M 1/03/19 Forge Therapeutics <http://www.socaltech.com/intelligence/?action=showdeal&id=94796> San Diego $11.10 M 1/03/19 Verily <http://www.socaltech.com/intelligence/?action=showdeal&id=94814> South San Francisco $1000.00 M 12/20/18 AvantStay <http://www.socaltech.com/intelligence/?action=showdeal&id=94684> Los Angeles $5.00 M 12/20/18 Cloud Constellation Corporation <http://www.socaltech.com/intelligence/?action=showdeal&id=94795> Los Angeles $100.00 M 12/19/18 NantCell, Inc. <http://www.socaltech.com/intelligence/?action=showdeal&id=94876> Culver City $30.00 M 12/19/18 Elementary Robotics <http://www.socaltech.com/intelligence/?action=showdeal&id=94682> Los Angeles $3.60 M 12/18/18 Seismic <http://www.socaltech.com/intelligence/?action=showdeal&id=94681> Solana Beach $100.00 M 12/13/18 Akero Therapeutics <http://www.socaltech.com/intelligence/?action=showdeal&id=94565> South San Francisco $70.00 M 12/13/18 Procore Technologies <http://www.socaltech.com/intelligence/?action=showdeal&id=94564> Carpinteria $75.00 M ------------------------------ *Upcoming Events* Submit your events at least two weeks in advance to: http://www.socaltech.com/submitevent.html January 29, Los Angeles -- *Upfront Summit* *NEW* . See http://www.socaltech.com/calendar/eventid/26344 January 30, Los Angeles -- *Upfront Summit* *NEW* . See http://www.socaltech.com/calendar/eventid/26345 January 31, Los Angeles -- *Growth Capital Conference* Growth Capital Conference. Pitch to & Network with Investors: Angels,VCs, High Net Worths, Strategic Partners and 100 entrepreneurs seeking capital & counsel. DEAL DISPLAYtm showcases growing firms needing capital. View products, videos, online demos. See http://www.socaltech.com/calendar/eventid/26313 January 31, San Diego -- *Preparing Your Company for Sale* Preparing Your Company for Sale. CONNECT. Whether you are acquiring a company or looking to merge your company with another, there are significant operational, practical and legal steps you should take to ensure that your company maintains its value and remains an attractive partner through the transaction. Learn how to avoid the pitfalls in what promises to be a lively discussion among industry veterans from the technology, biotechnology and manufacturing industries. See http://www.socaltech.com/calendar/eventid/26295 February 4, Los Angeles -- *Digital Entertainment World 2019* Digital Entertainment World 2019. Described by Hollywood insiders, digital influencers and industry leaders throughout the world as a "must-attend" event, now in its 6th year Digital Entertainment World (DEW) is where you want to be if you are in the business of creating or monetizing digital entertainment content. DEW 2019 focuses on "The Power of Creativity and Influence" and will cover topics from OTT to Innovation to eSports to Millennials to Content Marketing to VR/AR to Music Rights to Startups, etc., as this theme guides all talks, discussions, meetings and presentations over the two days. See http://www.socaltech.com/calendar/eventid/26290 February 5, Los Angeles -- *Digital Entertainment World 2019* Digital Entertainment World 2019. Described by Hollywood insiders, digital influencers and industry leaders throughout the world as a "must-attend" event, now in its 6th year Digital Entertainment World (DEW) is where you want to be if you are in the business of creating or monetizing digital entertainment content. DEW 2019 focuses on "The Power of Creativity and Influence" and will cover topics from OTT to Innovation to eSports to Millennials to Content Marketing to VR/AR to Music Rights to Startups, etc., as this theme guides all talks, discussions, meetings and presentations over the two days. See http://www.socaltech.com/calendar/eventid/26291 February 6, Santa Monica -- *State of the City, Economic Sustainability Summit 2019: Shaping A Changing World | Santa Monica Chamber of Commerce* Santa Monica State of the City, Economic Sustainability Summit 2019: Shaping A Changing World. The Santa Monica Chamber of Commerce will hold its annual Economic Sustainability Summit including the State of the City at the SGI Auditorium in downtown Santa Monica. This event brings together the business and resident communities to hear from City Manager Rick Cole and Mayor Gleam Davis about the city’s newest initiatives and the economic report of the past year. Entrepreneurs speak to the latest trends and innovations regionally and globally. See http://www.socaltech.com/calendar/eventid/26327 February 6, Santa Monica -- *Founder Meet Funder* Founder Meet Funder (Invite Only). Founder Meet Funder focus on supporting entrepreneur growth by connecting them with mentors, influencers, and investors within the community. A special social sphere is created due to the culture and diversity of experience brought along the way to encourage everyone to help one other's business growth. See http://www.socaltech.com/calendar/eventid/26338 February 6, Culver City -- *Culver City Tech Happy Hour* *NEW* . See http://www.socaltech.com/calendar/eventid/26343 February 12, San Diego -- *Reverse Mergers Into Public Shells* Reverse Mergers Into Public Shells. CONNECT. This program will educate private issuers about the process of going public by merging with an existing public shell. See http://www.socaltech.com/calendar/eventid/26330 February 12, Los Angeles -- *Mobile LAVA Presents: Marketplaces* Mobile LAVA Presents: Marketplaces. Save the date for a thought provoking panel discussion on all things related to startup marketplace tech businesses, lead by Kiyan Yazdi of Mucker Capital, Los Angeles' Seed and "Pre-Seed" Stage Venture Fund. We’ll cover topics such as: • Fundraising • Monetization • acquisition & retention • AOV, LTV, and other KPIs • Planning for an exit • And more. See http://www.socaltech.com/calendar/eventid/26324 February 12, Santa Monica -- *Start-Up Options for Rapid Development, Funding, and Commercialization* Start-Up Options for Rapid Development, Funding, and Commercialization. LAVA Healthcare. Is VC funding the only way to develop and grow your company? Have you heard of accelerators, incubators, angles, and other resources for rapid development, funding, and growth of your start-up? Attend our LAVA event on February 19th as our distinguished panel will share their expertise and insight. Please join us on February 19th for an informative, interactive session and networking. See http://www.socaltech.com/calendar/eventid/26325 February 14, Costa Mesa -- *IP Protection Strategies For Start-Ups* *NEW* . See http://www.socaltech.com/calendar/eventid/26346 February 19, Santa Monica -- *Seed Stage Startup Pitch Competition* *NEW* . See http://www.socaltech.com/calendar/eventid/26342 February 20, Los Angeles -- *LAEDC Economic Forecast 2019* *NEW* . See http://www.socaltech.com/calendar/eventid/26347 ------------------------------ *Recent Job Postings * More jobs at http://www.socaltech.com/Jobs ------------------------------ ------------------------------ *Sponsored By * TVC Capital LLC (www.tvccapital.com) Investments and acquisitions of growing software companies. Silicon Valley Bank (http://www.svb.com). Make next happen now. Stubbs Alderton Markiles, LLP (http://www.stubbsalderton.com). Business. Technology. Law. Vision. PricewaterhouseCoopers (http://www.socaltech.com/pwc). Key info (http://www.keyinfo.com) infrastructure ~ connectivity ~ co-location ~ cloud Singer Lewak (http://www.singerlewak.com) Accounting and Consulting for Growing and Innovative Businesses Email [email protected] for more information about sponsoring this newsletter. ------------------------------ You are receiving this email because you subscribed to the socalTECH.com TechNews from our web site, or otherwise requested a subscription. If you do not want to receive this newsletter go to: http://listserv.socaltech.com/mailman/listinfo/socaltech or email us at [email protected] ------------------------------ Legal Notices ---- While SOCALTECH LLC has used its best efforts in collecting and preparing the information published herein, SOCALTECH LLC does not assume, and hereby disclaims, any liability for any loss or damage caused by errors or omissions, whether such errors or omissions resulted from negligence, accident or other causes. All contents Copyright (c) 2017 SOCALTECH LLC. 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