*socaltech.com <http://socaltech.com> TechNews - Tuesday, May 23, 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 * - Sound Ventures Backs Anthropic In $450M Round <#0083441> - Western Digital Seeing Significant SSD Failure Issues <#0083440> - eSUB Construction Software Gets Funding <#0083438> - Viasat Receives FCC Approval For Inmarsat Acquisition <#0083439> - Cinedigm Becomes Cineverse <#0083437> *Marketplace* - IP Protection for Technology and Business - SoCal IP Law Group LLP <#ad750> - Accelerating Growth For Early Stage Innovation. <#ad764> - Pacific Western Bank, Venture Banking Group <#ad797> *Tuesday, May 23, 2023* *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]. *Sound Ventures Backs Anthropic In $450M Round* <https://www.socaltech.com/fullstory/0083441.html> Los Angeles-based Sound Ventures, the venture capital investment firm founded by Ashton Kutcher and Guy Oseary, is one of the investors in generative AI startup Anthropic. Anthropic said this week that it has raised $450M in a Series C funding round, led by Spark Capital, and also included Google, Salesforce, Zoom, and Sound Ventures. The size of Sound's stake in the company was not disclosed. Anthropic is based in San Francisco, and was founded by veterans of OpenAI. (More... <https://www.socaltech.com/fullstory/0083441.html>) *Western Digital Seeing Significant SSD Failure Issues* <https://www.socaltech.com/fullstory/0083440.html> It seems it's not the year for Western Digital, the data storage company which has a large presence in Orange County, as the company is seeing significant failure rates of its SanDisk Extreme and Extreme Pro SSDs. Apparently, the company's 4TB and 2TB Extreme V2 and Extreme Pro V2 portable drives are prone to sudden failure, suddenly erasing data stored on the drives. The company has apparently released a firmware fix in an attempt to solve the issue. (More... <https://www.socaltech.com/fullstory/0083440.html>) *eSUB Construction Software Gets Funding* <https://www.socaltech.com/fullstory/0083438.html> San Diego-based eSUB Construction Software, a developer of cloud-based construction management software, announced late Monday that it has raised a growth equity funding round. Size of the investment was not announced. The company said the investment came from Catalyst Investors and Revolution Ventures, existing investors in the company. The company said it will use the new funding to expand its outreach. The company targets commercial construction subcontractors with its tools. (More... <https://www.socaltech.com/fullstory/0083438.html>) *Viasat Receives FCC Approval For Inmarsat Acquisition* <https://www.socaltech.com/fullstory/0083439.html> Carlsbad-based *Viasat <https://www.viasat.com>* said Monday that it has received Federal Communications Commission (FCC) approval for its acquisition of *Inmarsat*. The company said the approval leaves only the European Commission's competition review in the way of its acquisition effort. The company said it expects the transaction to close later this month. Both Viasat and Inmarsat provide satellite communications services.( More... <https://www.socaltech.com/fullstory/0083439.html>) *Cinedigm Becomes Cineverse* <https://www.socaltech.com/fullstory/0083437.html> Los Angeles-based *Cinedigm <https://www.cinedigm.com>* said this morning that it has renamed itself as *Cineverse*. The company--which provides streaming channels--said the change is an "important step forward in the Company's evolution". As part of the name change, Cinedigm--which trades on the NASDAQ Capital Market--says it will also change its stock symbol from CIDM to CNVS.(More... <https://www.socaltech.com/fullstory/0083437.html>) *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 *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 <https://www.pacwest.com>* Pacific Western Bank is a commercial bank with over $41 billion in assets headquartered in Los Angeles, California, with an executive office in Denver, Colorado. Our venture banking team specializes in financial products and services for startups, venture-backed businesses, and their venture capital and private equity investors. We are dedicated to delivering high-touch, tailored solutions, helping innovators take their business to the next level. No matter the size or stage of your business, you can expect guidance, resources and flexibility, making them the perfect team to support your evolving needs. For more information, visit www.pacwest.com, or follow them on LinkedIn and Twitter. ------------------------------ *Recent Funding <#funding>* 4/13/23 Altruist <https://www.socaltech.com/intelligence/?action=showdeal&id=110844> Culver City $112.00 M 2/10/23 Fabric8Labs <https://www.socaltech.com/intelligence/?action=showdeal&id=110604> San Diego $50.00 M 1/31/23 Saviynt <https://www.socaltech.com/intelligence/?action=showdeal&id=110563> El Segundo $205.00 M 1/23/23 ADARx Pharmaceuticals, Inc. <https://www.socaltech.com/intelligence/?action=showdeal&id=110494> San Diego $46.10 M 1/19/23 PLAI Labs <https://www.socaltech.com/intelligence/?action=showdeal&id=103242> Culver City $32.00 M 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 ------------------------------ *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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