*socaltech.com <http://socaltech.com> TechNews - Tuesday, February 25, 2020* Edited by Benjamin F. Kuo ISSN: 1524-6736 http://www.socaltech.com/News ------------------------------
*Sponsored By * Pacific Western Bank, Venture Banking Group (http://www.pacwest.com/lending-solutions/venture-lending) Stubbs Alderton Markiles, LLP (http://www.stubbsalderton.com). Business. Technology. Law. Vision. KPMG (http://home.kpmg/us/en/home/about/offices/los-angeles-1.html) Level up with KPMG ------------------------------ *Headlines * - Interview with Jay Ackerman, Reveleer <#0079562> - Pipe Picks Up $6M For SaaS Financing <#0079563> - Cornerstone OnDemand Acquires Saba For $1.395 Billion <#0079561> - Overwatch League Event Curbed Due To Virus Concerns <#0079560> - Snap Buys Assets Of Ill Fated AR Startup Daqri <#0079559> - Inari Medical Files For IPO <#0079558> - Surf Air Acquires BlackBird Marketplace <#0079556> - Arima Genomics Finds Series A Funding <#0079554> - esVolta Gets $140M In Credit Facility For Utility Scale Battery Storage <#0079555> - biproxi Buys OfficeSpace.com <#0079557> *Marketplace* - Recurring Revenue Conference - April 28 & 29 - Marina Del Rey <#ad761> - Early Stage Commercial Insurance - Pacific Unified Insurance Agency <#ad596> - Support Our News Coverage - Become A Member Today! <#ad680> - BDO - Southern California Technology Industry Team <#ad737> - Pacific Western Bank, Venture Banking Group <#ad749> - Bestronics - Electronic Engineering Services, SOMs, Imaging Products, Displays & Batteries <#ad752> *Tuesday, February 25, 2020* *Stradling <http://www.sycr.com>* Stradling, Attorneys At Law ( href="http://www.sycr.com";>http://www.sycr.com ) Stradling Yocca Carlson & Rauth (“Stradling”) is a premier business law firm with over 125 attorneys and 10 offices in the western US. The offices are: Newport Beach, Santa Barbara, Santa Monica, San Diego, San Francisco - SOMA, San Francisco - Financial District, Sacramento, Reno, Denver, Seattle. The Firm’s corporate, litigation and public law practices are well known for their expertise and depth. Stradling's clients include emerging and high growth public and private companies as well as private equity funds, venture capital groups and their respective portfolio companies. Widely recognized for its expertise, responsiveness and outstanding client service, the Firm's size, structure, and culture allow it to provide the highest quality representation while maintaining the responsiveness and relationships commonly associated with smaller firms. *Interview with Jay Ackerman, Reveleer* <http://www.socaltech.com/fullstory/0079562.html> Glendale-based Reveleer (www.reveleer.com) is a developer of cloud-based software used for managing medical data, and recently announced a Series C funding round from investors Boston Millenia Partners and Upfront Ventures. We casught up with CEO Jay Ackerman to learn more about the company, its market, and how the company is looking to help its customers—health plans and managed care organizations--with risk management and quality improvement using technology. (More... <http://www.socaltech.com/fullstory/0079562.html>) *Pipe Picks Up $6M For SaaS Financing* <http://www.socaltech.com/fullstory/0079563.html> A new, Los Angeles-based fintech startup, Pipe, said this morning that it has raised $6M in its seed funding round, to launch a new platform which offers up financing to subscription-based, software-as-a-service companies. The funding was led by Craft Ventures, and also included Fika Ventures, MaC Ventures, Naval Ravikant, WorkLife Ventures, Liquid2 and The Weekend Fund. ( More... <http://www.socaltech.com/fullstory/0079563.html>) *Cornerstone OnDemand Acquires Saba For $1.395 Billion* <http://www.socaltech.com/fullstory/0079561.html> Santa Monica-based Cornerstone OnDemand has acquired fellow talent and human resources management software developer Saba, in a deal worth approximately $1.395 billion, the company said on Monday. Cornerstone OnDemand said that Saba, which has approximately 3,300 clients, has a complementary product portfolio to the company. The firm is paying a combination of cash and stock for Saba, and expects the deal to be complete in the second quarter of 2020. (More... <http://www.socaltech.com/fullstory/0079561.html>) *Overwatch League Event Curbed Due To Virus Concerns* <http://www.socaltech.com/fullstory/0079560.html> The ongoing, international expansion of the Overwatch League has had to cancel three weeks of planned events in South Korea, saying on Monday that "in order to protect the health and safety" of its "players, fans, and staff" it will no longer be holding its March Seoul Dynasty Homestand event on March 7th and 8th. The league--which had to cancel a similar tournament in China in February--said that it plans on rescheduling those matches in the future. (More... <http://www.socaltech.com/fullstory/0079560.html>) *Snap Buys Assets Of Ill Fated AR Startup Daqri* <http://www.socaltech.com/fullstory/0079559.html> Venice, California-based Snap has acquired the assets of ill-fated augmented reality (AR) hardware developer Daqri, according to a report today. Financial details of the asset acquisition were not announced. According to Protocol, the acquisition was of "certain Daqri assets" and around two dozen employees. Daqri had raised around $300M for the development of its own, augmented reality headset and technology. Daqri had sold its AR helmet for around $15,0000. (More... <http://www.socaltech.com/fullstory/0079559.html>) *Inari Medical Files For IPO* <http://www.socaltech.com/fullstory/0079558.html> Irvine-based Inari Medical, a developer of medical devices used to extract clots from blood vessels, has filed for an IPO. The company says it is looking to raise up to $100M in an IPO on the Nasdaq Global Market as NARI. The IPO is being unerwritten by BofA Securities, Morgan Stanley, Canaccord Genuity, and Wells Fargo Securities. The company's major venture backers are U.S. Venture Partners (20.0% ownership before the IPO); Gilde Healthcare (19.6%), Versant Venture Capital (14. (More... <http://www.socaltech.com/fullstory/0079558.html>) *Surf Air Acquires BlackBird Marketplace* <http://www.socaltech.com/fullstory/0079556.html> Los Angeles-based Surf Air, which provides scheduled, short-haul flights in California and Texas via a membership-based service, has acquired San Francisco-based aviation marketplace provider BlackBird. Financial terms of the buy were not announced. According to Surf Air, it will use the acquisition to create a new company, called Surf Air Mobility Corporation, which it says will focus on making "flying a viable alternative to commercial airlines and driving on short routes. (More... <http://www.socaltech.com/fullstory/0079556.html>) *Arima Genomics Finds Series A Funding* <http://www.socaltech.com/fullstory/0079554.html> San Diego-based Arima Genomics, a startup working on research tools for understanding genome sequence and structure, said this morning that it has raised a Series A funding round. Size of the funding was not announced. THe funding was led by Agilent Technologies and Cowin Venture, and also included Vectr Ventures and Berkeley Catalyst Fund. (Funding Details <https://www.socaltech.com/intelligence/index.php?action=showco&id=61989>)( More... <http://www.socaltech.com/fullstory/0079554.html>) *esVolta Gets $140M In Credit Facility For Utility Scale Battery Storage* <http://www.socaltech.com/fullstory/0079555.html> Aliso Viejo-based esVolta, a developer, owner and operator of utility-scale energy storage projects, says it has received $140M in a senior secured credit facility, to finance its utility-scale battery storage projects. According to the company, the $140M credit facility came from CIT's Power and Energy business, and also included Siemens Financial Services (SFS), CoBank, ACB, and KeyBanc Capital Markets . (More... <http://www.socaltech.com/fullstory/0079555.html>) *biproxi Buys OfficeSpace.com* <http://www.socaltech.com/fullstory/0079557.html> San Diego-based commercial real estate marketplace biproxi said this morning that it has acquired OfficeSpace.com, an online commercial real estate marketplace that connects tenants and buyers with brokers. Financial terms of the buy were not announced. Biproxi said it will use that acquisition to consolidate all of its commercial real estate (CRE) data and listings on the OfficeSpace.com website. The firm says that OfficeSpace. ( More... <http://www.socaltech.com/fullstory/0079557.html>) *Recurring Revenue Conference - April 28 & 29 - Marina Del Rey <https://www.recurringrevenueconference.com/>* Recurring Revenue Conference - April 28 & 29 - Marina Del Rey WHAT YOU'LL DISCOVER • Why investors continue to pay premium prices for companies with subscription revenue models • How leaders of successful subscription-based businesses are managing explosive growth • Why building/optimizing ongoing customer relationships is the lifeblood of subscription businesses • How to reduce Customer Acquisition Cost (CAC) while maintaining steady growth • How to increase customer lifetime value (LTV) Register today! https://www.recurringrevenueconference.com/ • Key insights to avoiding churn before it happens https://www.recurringrevenueconference.com/ *Early Stage Commercial Insurance - Pacific Unified Insurance Agency < [email protected]>* We are a commercial insurance broker working with startup and early stage technology and E-Commerce companies to implement cost effective strategies for their insurance and risk management programs. We provide guidance and strategic planning during various phases and also advise regarding employee benefit structures to assist in employee recruiting and retention. Coverage placements include D&O, Property, Liability, Workers Comp, E&O, Cyber/Network Security and Employee Benefit Programs. Contact: John Huttinger, CIC, CRM Vice President Ph#310-370-5000 Ext 3025 w Fx 310-370-5454 [email protected] *Support Our News Coverage - Become A Member Today! <http://www.socaltech.com/Membership>* We often get asked--how do we pay for our news coverage and our publishing efforts? That's simple -- it's a combination of our sponsors and YOU. How can YOU make sure you continue to get news on Southern California's technology industry? By becoming a member of socaltech! Not only do you get to support our news coverage, but you also get access to our big database of Southern California companies, venture investors, service providers, and deal information, and many other resources. We are relying on YOU! Join today at http://www.socaltech.com/Membership *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 *Pacific Western Bank, Venture Banking Group <http://www.pacwest.com/lending-solutions/venture-lending>* Pacific Western Bank is a commercial bank with over $26 billion in assets and 76 branches primarily located in California, with one in Denver, Colorado and another in Durham, North Carolina. Our Venture Banking Group offers a comprehensive suite of financial services focused on entrepreneurial businesses and their venture capital and private equity investors. We also offer Community Banking and National Lending services. For more information about the Venture Banking Group, visit www.pacwest.com/lending-solutions/venture-lending, or send an email to Brian Weber at [email protected] *Bestronics - Electronic Engineering Services, SOMs, Imaging Products, Displays & Batteries <https://www.bestronics.com>* Are the great ideas stacking up faster than your engineering resources can handle? Your company needs a reliable resource of analog/digital and software engineers to understand your issues, define the problem statements and lay out a course of action to output hardware products ready for integration into your system. Our unique capabilities, used by many in the medical, scientific, military and aerospace industries, allow us to offer engineering services that result in deliverable, production ready subsystems so you can concentrate on targeting your customer base and not stressing about the right mix and numbers of engineering talent needed to see your vision become reality. Contact us at http://www.bestronics.com ------------------------------ *Recent Funding <#funding>* 2/21/20 Brace <http://www.socaltech.com/intelligence/?action=showdeal&id=99803> Santa Monica $10.00 M 2/20/20 Cloudbreak Health, LLC <http://www.socaltech.com/intelligence/?action=showdeal&id=99732> El Segundo $10.00 M 2/20/20 SmartBug Media <http://www.socaltech.com/intelligence/?action=showdeal&id=99733> Irvine $0.00 M 2/20/20 Liquid Death <http://www.socaltech.com/intelligence/?action=showdeal&id=99802> Santa Monica $9.00 M 2/19/20 Digital Motors <http://www.socaltech.com/intelligence/?action=showdeal&id=99731> Irvine $0.00 M 2/18/20 Open Raven <http://www.socaltech.com/intelligence/?action=showdeal&id=99721> Marina Del Rey $4.10 M 2/13/20 GumGum <http://www.socaltech.com/intelligence/?action=showdeal&id=99720> Santa Monica $22.00 M 2/13/20 Seqster <http://www.socaltech.com/intelligence/?action=showdeal&id=99719> San Diego $0.00 M 2/12/20 HEADSPACE, INC. <http://www.socaltech.com/intelligence/?action=showdeal&id=99703> Santa Monica $53.00 M 2/10/20 JenaValve Technology Inc <http://www.socaltech.com/intelligence/?action=showdeal&id=99680> Irvine $50.00 M 2/05/20 Gento <http://www.socaltech.com/intelligence/?action=showdeal&id=99607> Los Angeles $5.00 M 2/05/20 NGD Systems <http://www.socaltech.com/intelligence/?action=showdeal&id=99605> Irvine $20.00 M 2/05/20 HopSkipDrive <http://www.socaltech.com/intelligence/?action=showdeal&id=99606> South Pasadena $22.00 M 2/04/20 Retina <http://www.socaltech.com/intelligence/?action=showdeal&id=99543> Santa Monica $2.50 M ------------------------------ *Upcoming Events* Submit your events at least two weeks in advance to: http://www.socaltech.com/submitevent.html February 26, Irvine -- *SoCal Startup Day* SoCal Startup Day. We are proud to announce the first annual SoCal Startup Day. We will have a jam packed day of festivities, exhibitors, investors, keynotes, fireside chats, activites, food trucks & cocktails, and the biggest startup event Orange County has ever seen! If you are looking to network and connect with Southern California's top startups, seeking funding, or just curious about the startup community, this is the event for you. See http://www.socaltech.com/calendar/eventid/26607 March 4, Santa Monica -- *The Montgomery Summit* Montgomery Summit 2020. The Montgomery Summit is an invitation-only event that gathers leading entrepreneurs, venture and growth investors, institutional investors, and industry executives from around the world. The Montgomery Summit has been held annually since 2004, and it has grown into the country’s largest private company investment conference, annually featuring presentations from the CEOs of 150 exceptional private companies, world-class keynote speakers and engaging panels and discussions. See http://www.socaltech.com/calendar/eventid/26613 March 5, Pasadena -- *SCALE 18x* SCALE is North America's leading open source community conference. Held annually in the greater Los Angeles area the conference draws over 3500 attendees from around the globe. See http://www.socaltech.com/calendar/eventid/26575 March 5, Santa Monica -- *The Montgomery Summit* Montgomery Summit 2020. The Montgomery Summit is an invitation-only event that gathers leading entrepreneurs, venture and growth investors, institutional investors, and industry executives from around the world. The Montgomery Summit has been held annually since 2004, and it has grown into the country’s largest private company investment conference, annually featuring presentations from the CEOs of 150 exceptional private companies, world-class keynote speakers and engaging panels and discussions. See http://www.socaltech.com/calendar/eventid/26614 March 23, Los Angeles -- *Digital Summit LA* Digital Summit LA. Come experience the most impactful offering of digital marketing tips, strategies, and best practices, while networking with over 1000+ marketing professionals just like you. See http://www.socaltech.com/calendar/eventid/26611 ------------------------------ *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. Stubbs Alderton Markiles, LLP (http://www.stubbsalderton.com). Business. Technology. Law. Vision. KPMG (http://home.kpmg/us/en/home/about/offices/los-angeles-1.html) Level up with KPMG 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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