*socaltech.com <http://socaltech.com> TechNews - Thursday, January 19, 2023* Edited by Benjamin F. Kuo ISSN: 1524-6736 http://www.socaltech.com/News <https://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 * - Scratch Financial Snags Salesforce Vet As CTO <#0083144> - Oro Takes $13M <#0083142> - ContractSafe Connects With $27.5M <#0083141> - DiCaprio's Aspiration Sets Up Offices In Abu Dhabi <#0083143> - Deal Box Launches $125M Web3 Venture Effort <#0083138> - AcuFocus Acquired By Bausch + Lomb <#0083136> - RMA Acquires C Below <#0083137> - Zenlayer Partners With Cyxtera <#0083130> - Sensible Weather Gets New Investment <#0083129> - Flux Power Gets $14M Credit Facility <#0083135> *Marketplace* - Pixelgate.net - Internet Access, Web Hosting, Network Services <#ad796> - Network Thinking Solutions - DevOps and Managed Services <#ad774> - Accelerating Growth For Early Stage Innovation. <#ad764> - Pacific Western Bank, Venture Banking Group <#ad749> *Thursday, January 19, 2023* *SHIFT TO A NEW LEVEL OF SUCCESS <https://info.kpmg.us/quantumshift.html>* SHIFT TO A NEW LEVEL OF SUCCESS Welcoming America’s most innovative and promising CEOs to the University of Michigan’s campus in Ann Arbor for a four-day (May 1-5, 2023) learning and peer-to-peer networking experience. QuantumShift is led by faculty from the Stephen M. Ross School of Business and aims to help entrepreneurs improve their leadership approach, inspire their people, and maximize their growth opportunities. Interested in joining the class of 2023? Please apply here by January 31st. https://info.kpmg.us/quantumshift.html *Scratch Financial Snags Salesforce Vet As CTO* <https://www.socaltech.com/fullstory/0083144.html> Pasadena-based Scratch Financial, which provides patient financing and payment products for healthcare providers, has snagged the former CTO of Salesforce as its new Chief Technology Officer. According to Scratch Financial, it has hired Steven Tamm to the position. Tamm had been at Salesforce for 18 years, most recently as CTO. Scratch Financial is led by CEO and co-founder John Keatley. (More... <https://www.socaltech.com/fullstory/0083144.html>) *Oro Takes $13M* <https://www.socaltech.com/fullstory/0083142.html> Los Angeles-based e-commerce software developer Oro announced this morning that it has raised $13M in a strategic growth funding. The funding came from Zubr Capital, along with Highland Europe. Oro--which is ten years old--said it will use the funding to evolve its offerings and expand into new markets. Oro is led by CEO Yoav Kutner. The company says the new funding comes more than six years after its last round. Oro says that it will also use the new funding to help its employees in Ukraine. (Funding Details <https://www.socaltech.com/intelligence/index.php?action=showco&id=64238>)( More... <https://www.socaltech.com/fullstory/0083142.html>) *ContractSafe Connects With $27.5M* <https://www.socaltech.com/fullstory/0083141.html> Los Angeles-based *ContractSafe <https://www.contractsafe.com>* said Wednesday that it has raised $27.5M, in the company's first institutional capital raise. The company--which was founded seven years ago--said the strategic growth investment came from Five Elms Capital. The company is a developer of online, contract management software. The company's headquarters are in Malibu.(More... <https://www.socaltech.com/fullstory/0083141.html>) *DiCaprio's Aspiration Sets Up Offices In Abu Dhabi* <https://www.socaltech.com/fullstory/0083143.html> Aspiration, the climate-change focused fintech company backed by Leonardo DiCaprio and Robert Downey Jr., said today that it is setting up offices in Abu Dhabi, the capital of the UAE. According to Aspiration, the expansion is part of an effort with Abu Dhabi Investment Office (ADIO), the business development and expansion effort of the UAE. Aspiration is also backed by Oaktree Capital Management and affiliates of former Microsoft Corp. CEO Steve Balmer. (More... <https://www.socaltech.com/fullstory/0083143.html>) *Deal Box Launches $125M Web3 Venture Effort* <https://www.socaltech.com/fullstory/0083138.html> Carlsbad-based Deal Box said today that it has launched a new venture capital effort called Deal Box Ventures, which it says will invest $125M in "foundational Web3 technologies". The firm did not say if it has already raised that $125M, or who the limited partners in the new venture investment firm are. The company said it "focus on strategic investments that unlock the full potential of this technology and new ways in which blockchain products will impact and reshape people's everyday lives. ( More... <https://www.socaltech.com/fullstory/0083138.html>) *AcuFocus Acquired By Bausch + Lomb* <https://www.socaltech.com/fullstory/0083136.html> Irvine-based AcuFocus, a privately held medical device company developing opthalmic devices, has been acquired by Bausch + Lomb Corporation, the companies said late Tuesday evening. Financial details of the acquisition were not announced. AcuFocus has developing small aperture intraocular lenses, which have been approved by the U.S. Food and Drug Administration for treating certain cataract patients. Bausch + Lomb said the acquisition will enhance its surgical portfolio. (More... <https://www.socaltech.com/fullstory/0083136.html>) *RMA Acquires C Below* <https://www.socaltech.com/fullstory/0083137.html> Rancho Cucamonga-based *RMA Companies <https://rmacompanies.com>* said on Tuesday that it has acquired *C Below* (C Below Subsurface Imaging), a developer of technology for locating underground utilities. Financial details of the buy were not announced. RMA said the acquisition is its fourth since December of 2021. C Below was founded in 2009, and provides utility locating and mapping services for public agencies, engineers, architects, and contractors.(More... <https://www.socaltech.com/fullstory/0083137.html>) *Zenlayer Partners With Cyxtera* <https://www.socaltech.com/fullstory/0083130.html> Los Angeles-based distributed cloud server provider Zenlayer said this morning that it has inked a partnership with Cyxtera, a Miami-based provider of data center colocation and interconnection services. According to Zenlayer, the deal allows customers to connect to Cyxtera's more than 60 data centers across Asia Pacific, Southeast Asia, Europe, Middle East, and Africa through the company's own private backbone. Financial aspects of the partnership deal were not announced. (More... <https://www.socaltech.com/fullstory/0083130.html>) *Sensible Weather Gets New Investment* <https://www.socaltech.com/fullstory/0083129.html> Los Angeles-based Sensible Weather, a startup which is developing climate technology and insurance products, said it has received a new investment from the PGA and Elysian Park Ventures, the private equity investment arm of the Los Angeles Dodgers. According to Sensible Weather, the strategic investment also includes a deal to provide its weather risk products to PGA facilities across the country. Size of the investment was not announced. (Funding Details <https://www.socaltech.com/intelligence/index.php?action=showdeal&id=103239> )(More... <https://www.socaltech.com/fullstory/0083129.html>) *Flux Power Gets $14M Credit Facility* <https://www.socaltech.com/fullstory/0083135.html> Vista, California-based Flux Power announced late last week that it has scored $14M in a credit facility, from Silicon Valley Bank. The company said the credit facility was an increase from its earlier $8M agreement with SVB, which it says it will use for higher working capital requirements due to increased customer demand. Flux Power is developing Lithium-ion energy storage products for the commercial and industrial market. terms of that credit facility were not announced. (More... <https://www.socaltech.com/fullstory/0083135.html>) *Pixelgate.net - Internet Access, Web Hosting, Network Services <http://www.pixelgate.net>* We put the "Service" back into Internet Service Provider. http://www.pixelgate.net *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/ *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 *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]. ------------------------------ *Recent Funding <#funding>* 1/19/23 Oro Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=103241> Los Angeles $13.00 M 1/19/23 ContractSafe <https://www.socaltech.com/intelligence/?action=showdeal&id=103240> Malibu $27.50 M 1/17/23 Sensible Weather <https://www.socaltech.com/intelligence/?action=showdeal&id=103239> Santa Monica $0.00 M 1/10/23 CRISPR QC <https://www.socaltech.com/intelligence/?action=showdeal&id=103238> San Diego $1.60 M 1/10/23 Cari Health <https://www.socaltech.com/intelligence/?action=showdeal&id=103237> San Diego $3.20 M 1/09/23 PBS Biotech <https://www.socaltech.com/intelligence/?action=showdeal&id=103236> Camarillo $22.00 M 12/07/22 Drata Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=103235> San Marcos $200.00 M 10/21/22 Kudos Technologies <https://www.socaltech.com/intelligence/?action=showdeal&id=103234> Woodland Hills $7.00 M 9/22/22 TheoryCraft Games <https://www.socaltech.com/intelligence/?action=showdeal&id=103233> Los Angeles $50.00 M 9/09/22 Arena Club <https://www.socaltech.com/intelligence/?action=showdeal&id=103232> Los Angeles $9.00 M 9/06/22 Bitwarden <https://www.socaltech.com/intelligence/?action=showdeal&id=103231> Santa Barbara $100.00 M 8/23/22 Chamberlain Coffee <https://www.socaltech.com/intelligence/?action=showdeal&id=103230> Beverly Hills $7.00 M 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 ------------------------------ *Upcoming Events* Submit your events at least two weeks in advance to: http://www.socaltech.com/submitevent.html ------------------------------ ------------------------------ ------------------------------ *Sponsored By * 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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