*socaltech.com <http://socaltech.com> TechNews - Monday, July 10, 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 * - GoodRx Names Chief Commercial Officer <#0083532> - Versus Launches AI Content Creation tool <#0083530> - Headspace Layoffs Leave Patients In Lurch <#0083529> - Fisker Runs Into Supply Issues <#0083531> - Varsity Healthcare Partners Raises $700M Fund <#0083527> - Alcott Enterprises Acquires Shadow Systems <#0083528> - Mitek Battles Delisting <#0083526> - Ring Founder's Siminoff's Honest Day's Work Acquired By Latch <#0083525> - Transphorm Assures Customers Of Gallium Nitride Supply <#0083524> - Mindbody Signs Basketball Training Provider, Shoot 360 <#0083523> *Marketplace* - Accelerating Growth For Early Stage Innovation. <#ad764> - IP Protection for Technology and Business - SoCal IP Law Group LLP <#ad750> - Pixelgate.net - Internet Access, Web Hosting, Network Services <#ad796> *Monday, July 10, 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]. *GoodRx Names Chief Commercial Officer* <https://www.socaltech.com/fullstory/0083532.html> Santa Monica-based *GoodRx <https://www.goodrx.com>* said this morning that it has named Dorothy Gemmell as the company's Chief Commercial Officer. The company said Gemmell has been an advisor to GoodRx for two years, and also previously served for Capsule, AbleTo, Havas Health, Practice Fusion, and WebMD/Medscape.(More... <https://www.socaltech.com/fullstory/0083532.html>) *Versus Launches AI Content Creation tool* <https://www.socaltech.com/fullstory/0083530.html> Los Angeles-based VersusGame said today that it is rolling a new, artificial intelligence (AI) tool that automatically generates contextually relevant content from any subject or topic. The company says its new tool generates a video or an animated sequence which provides brief synopsis of the topic, with a corresponding future event state expressed with a question, which the company uses to engage users. (More... <https://www.socaltech.com/fullstory/0083530.html>) *Headspace Layoffs Leave Patients In Lurch* <https://www.socaltech.com/fullstory/0083529.html> The layoffs last week at Los Angeles-based Headspace, the meditation- and therapy- app provider, have left patients without therapists, and is causing alarm. Therapists who were working at Headspace said that the move has "potentially causing irreparable harm to their patients and forcing them to violate the ethical guidelines of their profession." Headspace laid off 33 of its therapists on June 29, part of a total of 181 people cut from the meditation app provider. (More... <https://www.socaltech.com/fullstory/0083529.html>) *Fisker Runs Into Supply Issues* <https://www.socaltech.com/fullstory/0083531.html> Los Angeles-based eletric vehicle manufacturer Fisker Inc. has run into some supply issues, reporting last week that it produced 1,022 of its Fisker Ocean SUVs in Q2 of 2023 -- below the earlier estimate of between 1,400 and 1,700 EVs. The company said the volumes were constrainted by a shortage of components from its suppliers. (More... <https://www.socaltech.com/fullstory/0083531.html>) *Varsity Healthcare Partners Raises $700M Fund* <https://www.socaltech.com/fullstory/0083527.html> Los Angeles-based Varsity Healthcare Partners, a low middle-market private equity firm, says it has raised a $700M investment fund, Varsity Healthcare Partners IV. The company says it focuses on investments in healthcare services. The limited partners in the new fund included insurance companies, pensions, endowments, foundations, and sovereign wealth funds, according to the firm. The company said it had originally had a "hard cap" of $650M on the fund. (More... <https://www.socaltech.com/fullstory/0083527.html>) *Alcott Enterprises Acquires Shadow Systems* <https://www.socaltech.com/fullstory/0083528.html> Los Angeles-based *Alcott Enterprises*, a provider of IT services, says it has acquired another local IT service provider, *Shadow Systems*. Financial terms of the acquisition were not announced. Alcott said that Shadow Systems provides services to the U.S. Government, aerospace, and healthcare, including the H.U.D., S.S.A., I.R.S., U.S. District courts, USDA-FS, EOIR, US Marshall’s office, Boeing, Northrop, and UCLA Medical Centers.(More... <https://www.socaltech.com/fullstory/0083528.html>) *Mitek Battles Delisting* <https://www.socaltech.com/fullstory/0083526.html> San Diego-based digital identity and digital fraud prevention provider Mitek is battling delisting threads from the NASDAQ, after the company failed to file its 10-K and 10-Q reports over the last few quarters. According to the company, the Nasdaq Hearings Panel has granted the company's request to extend the automatic stay of suspension from the Nasdaq pending a hearing with the panel. (More... <https://www.socaltech.com/fullstory/0083526.html>) *Ring Founder's Siminoff's Honest Day's Work Acquired By Latch* <https://www.socaltech.com/fullstory/0083525.html> Los Angeles-based Honest Day's Work, the latest startup created by Ring founder Jamie Siminoff, has been acquired by New York-based Latch. Latch said it paid 29.0 million shares of its common stock, and $22.0M in unsecured promissory notes for Honest Day's Work, which included all of its assets, intellectula property, and $8.0M in cash. (More... <https://www.socaltech.com/fullstory/0083525.html>) *Transphorm Assures Customers Of Gallium Nitride Supply* <https://www.socaltech.com/fullstory/0083524.html> Goleta-based Gallium Nitride (GaN) semiconductor manufacturer Transphorm says that its "gallium nitride materials sources are secure", after China said it will restrict export of materials related to two materials related to the company's manufacturing, gallium and germanium. According to Transphorm , its primary suppliers are not based in China, and says its suppliers are "well-positioned to meet forecasted demand". (More... <https://www.socaltech.com/fullstory/0083524.html>) *Mindbody Signs Basketball Training Provider, Shoot 360* <https://www.socaltech.com/fullstory/0083523.html> San Luis Obispo-based Mindbody said this morning that it has signed a multi-year agreement with Shoot 360, a provider of "immersive basketball training" experiences. According to Mindbody, its technology will help Shoot 360 "optimize operations". Financial details of the win were not announced. Mindbody is a provider of appoint booking, payments, and operations software for the wellness market, and is used by gyms, exercise studios, and other wellness providers. (More... <https://www.socaltech.com/fullstory/0083523.html>) *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 *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 *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 ------------------------------ *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). 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