*socaltech.com <http://socaltech.com> TechNews - Friday, August 19, 2022* Edited by Benjamin F. Kuo ISSN: 1524-6736 http://www.socaltech.com/News <https://www.socaltech.com/News> ------------------------------
*Sponsored By * Tech vs. Media Podcast (https://link.chtbl.com/aKC6DpJG) 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 * - Google's Venice Offices Hit By Large Covid Outbreak <#0082822> - Rivian Angers Customers Over Removal Of Entry Level Truck Option <#0082824> - Drata Expands Offerings <#0082825> - Kofax Completes Ephesoft Acquisition <#0082823> - Snap Abandons Drone Dreams, Will Stop Developing Pixy <#0082821> - Crypto.com Laying Off Hundreds, Says Report <#0082820> - Platform Sciences Names CFO, CRO <#0082819> - Zest AI Inks Partnership With Equifax <#0082818> - Triller Sued For $28M For Failing To Pay For Music Series <#0082817> - GrayMatter Robotics Raises $20M <#0082815> *Marketplace* - Network Thinking Solutions - DevOps and Managed Services <#ad774> - From Idea to IPO - KPMG’s Emerging Growth Practice <#ad760> - Stradling <#ad608> - Pacific Western Bank, Venture Banking Group <#ad749> - IP Protection for Technology and Business - SoCal IP Law Group LLP <#ad750> *Friday, August 19, 2022* *Accelerating Growth For Early Stage Innovation. <http://www.preccelerator.com>* The Preccelerator® Program is an accelerator for early-stage startups offered to select companies out of the Santa Monica office of Stubbs Alderton & Markiles, LLP that provides initial capital, sophisticated legal services, interim office space, mentorship, a targeted curriculum, investment strategy counseling and access to a strategic perks portfolio with the objective of helping you grow your idea from business concept to funded startup. www.preccelerator.com *Google's Venice Offices Hit By Large Covid Outbreak* <https://www.socaltech.com/fullstory/0082822.html> In a demonstration of the difficulties facing high tech companies in getting back to "normal" after the pandemic, Google has been hit by a large outbreak of COVID at its Venice address, according to Deadline. The outbreak--disclosed through numbers from the Los Angeles County Public Health department--apparently included a total of 159 infections at Google's fancy Frank Ghery-designed offices in Venice. (More... <https://www.socaltech.com/fullstory/0082822.html>) *Rivian Angers Customers Over Removal Of Entry Level Truck Option* <https://www.socaltech.com/fullstory/0082824.html> Electric truck maker Rivian apparently has angered many of its pre-order customers after it cancelled the entry level version of its R1T truck--which raises the prices over its electric truck by over $6,000. According to The Verge, the company recently emailed its customers saying it is cancelling its base "Explore" model, which started at $67,500, and would force customers to either cancel their orders or upgrade to its $73,000 "Adventure" trim. (More... <https://www.socaltech.com/fullstory/0082824.html>) *Drata Expands Offerings* <https://www.socaltech.com/fullstory/0082825.html> San Diego-based security and compliance automation software developer Drata--which is venture backed by ICONIQ Growth, Alkeon Capital, Salesforce Ventures, GGV Capital, Cowboy Ventures, Leaders Fund, Okta Ventures, SVCI, and SV Angel--said Friday morning that it has launched a new product. According to the company, its new Risk Management software helps its customers manage end-to-end risk programs by continuously monitoring, identifying, assessing, and treating risks. (More... <https://www.socaltech.com/fullstory/0082825.html>) *Kofax Completes Ephesoft Acquisition* <https://www.socaltech.com/fullstory/0082823.html> Irvine-based document management software developer *Kofax <https://www.kofax.com>*--which is now owned by private equity investors *TA* and *Clearlake Capital*--has completed its acquisition of *Ephesoft*, a developer of enterprise document processing software. Financial details of the transaction have not been announced. The companies said the deal will add to Kofax's go to market and document processing solutions.(More... <https://www.socaltech.com/fullstory/0082823.html>) *Snap Abandons Drone Dreams, Will Stop Developing Pixy* <https://www.socaltech.com/fullstory/0082821.html> Venice-based *Snap <https://www.snap.com>* appears to be abandoning its attempt to become a maker of selfie-snapping drones, according to the Wall Street Journal <https://www.wsj.com/articles/snap-scraps-development-on-flying-selfie-pixy-drone-11660836217>. According to the report, Snap CEO Evan Spiegal said that the company will "no longer develop" the Pixy selfie-snapping drone line, although it will continue to sell the product on its website.(More... <https://www.socaltech.com/fullstory/0082821.html>) *Crypto.com Laying Off Hundreds, Says Report* <https://www.socaltech.com/fullstory/0082820.html> Crypto.com, the cryptocurrency company which now has the naming rights to what was the Staples Center in Los Angeles, has been laying off hundreds of employees, according to a report from The Verge. The Verge said that it's "difficult to estimate their exact number" and that employees at the company report that people have been quietly "disappearing from our internal slack or scheduled meetings" with no announcement. (More... <https://www.socaltech.com/fullstory/0082820.html>) *Platform Sciences Names CFO, CRO* <https://www.socaltech.com/fullstory/0082819.html> San Diego-based connected vehicle technology developer *Platform Science <https://www.platformscience.com>* says it has named two new executives this morning, appointing Greg Ivancich as Chief Financial Officer and Gerald Choung as Chief Revenue Officer. Ivancich was previously CFO of Saban Capital Group, and also served at EQT Exeter, Barclays, and Morgan Stanley. Choung was most recently CRO of ActiveState, and also served at Qualcomm, Microsoft, and Oracle.(More... <https://www.socaltech.com/fullstory/0082819.html>) *Zest AI Inks Partnership With Equifax* <https://www.socaltech.com/fullstory/0082818.html> Los Angeles-based artificial intelligence software developer Zest AI says it has inked a new partnership with Equifax, which will allow credit unions to access Zest AI's information alongside Equifax consumer credit reports. Financial details of the partnership were not announced. According to Equifax, the distribution deal will allow credit unions to use data sourced from Equifax to approve more applicants with greater speed, especially those who have been traditionally underbanked. (More... <https://www.socaltech.com/fullstory/0082818.html>) *Triller Sued For $28M For Failing To Pay For Music Series* <https://www.socaltech.com/fullstory/0082817.html> Los Angeles-based *Triller <https://www.triller.com>*, which competes against TikTok, has been sued by artists Swizz Beatz and Timbaland <https://www.washingtonpost.com/technology/2022/08/16/timbaland-triller-verzuz-lawsuit/>, for failing to pay for the music series Verzuz. According to the lawsuit, Triller still owes Swizz Beatz and Timbaland $28M, for a deal where Triller purchased music webcast Verzuz in January of 2021.(More... <https://www.socaltech.com/fullstory/0082817.html>) *GrayMatter Robotics Raises $20M* <https://www.socaltech.com/fullstory/0082815.html> Los Angeles-based GrayMatter Robotics, a developer of artificial intelligence and robotics technology, has raised $20M in a Series A investment, according to the company. The funding was led by Bow Capital and also included B Capital Group, Calibrate Ventures, OCA Ventures, Pathbreaker Ventures, Stage Venture Partners, and 3M Ventures, plus Swift Ventures. The company said the new funding will go towards growth and expansion, including expanding its team. (Funding Details <https://www.socaltech.com/intelligence/?action=showdeal&id=103229>)(More... <https://www.socaltech.com/fullstory/0082815.html>) *Network Thinking Solutions - DevOps and Managed Services <http://www.networkthinking.com>* Network Thinking Solutions provides DevOps and Managed Services for Los Angeles, Ventura and Santa Barbara counties. NTS helps development teams implement, manage and monitor CI/CD, Load Balancing, Docker and Auto Scaling technologies. NTS also provides Desktop Managed Services for your business team which includes Antivirus, Threat Protection, Ransomware Detection and Zero Trust Policies. Please reach us at [email protected] to start a conversation or visit our website https://networkthinking.com/devops/ *From Idea to IPO - KPMG’s Emerging Growth Practice < [email protected]>* KPMG provides Bookkeeping, Audit, Tax, and Advisory services to assist you at any stage of your life cycle. Whether you are starting your business, strengthening your business, expanding into new markets, or pursuing an exit, we have a global network of experienced resources that can take you to the next level. For more information, please contact Ryan Youhan at [email protected]. *Stradling <http://www.sycr.com>* Stradling, Attorneys At Law ( href="http://www.sycr.com";>http://www.sycr.com ) For more than 40 years top companies and municipalities have counted on Stradling to have the right team and skills to meet their toughest challenges 24/7, 365 days a year. *Pacific Western Bank, Venture Banking Group <http://www.pacwest.com/lending-solutions/venture-lending>* Pacific Western Bank is a commercial bank with over $40 billion in assets and 69 full-service branches primarily located in California, with one in Durham, NC and another in Denver, CO. Our Venture Banking Group offers a comprehensive suite of financial services focused on entrepreneurial and venture-backed businesses and their capital and private equity investors. For more information, visit http://www.pacwest.com/lending-solutions/venture-lending, or reach out to Britt Nelson at [email protected]. *IP Protection for Technology and Business - SoCal IP Law Group LLP <http://www.socalip.com>* Patents. Trademarks. Copyrights. Trade Secrets. IP Filings. IP Strategy. IP Litigation. IP Transactions. US and Worldwide. Offices in Westlake Village and Santa Barbara. [email protected] www.socalip.com ------------------------------ *Recent Funding <#funding>* 8/17/22 GrayMatter Robotics <https://www.socaltech.com/intelligence/?action=showdeal&id=103229> Los Angeles $20.00 M 8/10/22 Maximus <https://www.socaltech.com/intelligence/?action=showdeal&id=103228> Santa Monica $15.00 M 8/05/22 Everytable <https://www.socaltech.com/intelligence/?action=showdeal&id=103227> Los Angeles $55.00 M 8/04/22 Bounty App <https://www.socaltech.com/intelligence/?action=showdeal&id=103226> Los Angeles $5.00 M 7/19/22 FairPlay <https://www.socaltech.com/intelligence/?action=showdeal&id=103225> Los Angeles $10.00 M 6/30/22 Regard <https://www.socaltech.com/intelligence/?action=showdeal&id=103224> Los Angeles $15.30 M 6/16/22 Metropolis Technologies, Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=103223> Venice $167.00 M 6/14/22 Overair <https://www.socaltech.com/intelligence/?action=showdeal&id=103222> Santa Ana $145.00 M 5/11/22 PrismPop <https://www.socaltech.com/intelligence/?action=showdeal&id=103221> Pasadena $5.00 M 5/09/22 AskGene <https://www.socaltech.com/intelligence/?action=showdeal&id=103220> Camarillo $20.00 M 5/02/22 LinearB <https://www.socaltech.com/intelligence/?action=showdeal&id=103219> Santa Monica $50.00 M 4/15/22 Obsidian Security <https://www.socaltech.com/intelligence/?action=showdeal&id=103217> Newport Beach $90.00 M 4/14/22 Welcome Tech <https://www.socaltech.com/intelligence/?action=showdeal&id=103216> Los Angeles $30.00 M 4/12/22 Studio <https://www.socaltech.com/intelligence/?action=showdeal&id=103214> Los Angeles $50.00 M ------------------------------ *Upcoming Events* Submit your events at least two weeks in advance to: http://www.socaltech.com/submitevent.html ------------------------------ *Recent Job Postings * More jobs at http://www.socaltech.com/Jobs ------------------------------ ------------------------------ *Sponsored By * Stubbs Alderton Markiles, LLP (http://www.stubbsalderton.com). 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