Coronavirus Updates: Trump Jumps Into Musk Tweetstorm; L.A. May Extend Lockdown Until August; UpKeep's $36M Raise
Here are the latest headlines regarding how the novel coronavirus is impacting the Los Angeles startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for the latest updates.
- Now Trump weighs in on Elon Musk's defiant move to open a Tesla plant early
- Los Angeles may extend shelter-in-place directives until August, says county health official
- UpKeep raises $36 million Series B as maintenance services startup in demand amid COVID
UpKeep raises $36 million Series B as maintenance services startup in demand amid COVID
Ryan Chan, UpKeep founder and CEO, says the pandemic has only made UpKeep more attractive as companies put a greater emphasis on cleaning and maintenance.
UpKeep, a mobile platform that helps companies streamline maintenance requests, announced Tuesday it has raised $36 million in Series B funding. Though it is a difficult time for many companies to fundraise, Ryan Chan, UpKeep founder and CEO, says the pandemic has only made UpKeep more attractive as companies put a greater emphasis on cleaning and maintenance. "I feel fortunate that we are in a space that is growing because of this," Chan told dot.LA. "We were able to raise at very favorable terms, but for a lot of companies it's very difficult to raise right now."
Chan certainly does not want to be seen as gloating. "We got lucky, but through no fault of our own," he added. Though UpKeep is a Los Angeles company, it turned to New York-based Insight Capital to lead the round. Existing investors Emergence Capital, Battery Ventures, Y Combinator, Mucker Capital, and Fundersclub also participated.
"COVID-19 is bringing the importance of maintenance into the spotlight, underscoring UpKeep's mission," Deven Parekh, Managing Director at Insight Partners, said in a statement. Upkeep says it saw 206% revenue growth last year and has signed with notable brands including Unilever, Siemens, DHL, Thermo Fisher Scientific, McDonald's and Jet.com.
Los Angeles may extend shelter-in-place directives until August, says county health official
Los Angeles County may extend stay-at-home orders for the next three months, ending sometime in August, according to Public Health Director Barbara Ferrer during a Board of Supervisors meeting on Tuesday. California began loosening stay-at-home rules last week, reopening trails and providing retailers with the ability to sell merchandise through curbside services.
But Ferrer warned Tuesday that further loosening of the rules will be slow. And that would only change if there was a "dramatic change to the virus and tools at hand." "Our hope is that by using the data, we'd be able to slowly lift restrictions over the next three months," she said, according to the L.A. Times. But without widely available therapeutic testing for the coronavirus or rapid at-home tests that would allow people to test themselves daily, it seems unlikely that restrictions would be completely eased.
Now Trump weighs in on Elon Musk's defiant move to open a Tesla plant early
This won't come as a surprise: President Trump joined in on the Twitter debate about Elon Musk reopening his Tesla Inc. plant in Fremont, Calif. "California should let Tesla & @elonmusk open the plant, NOW," Trump wrote in a tweet Tuesday. "It can be done Fast & Safely!" Musk tweeted on Monday that Tesla would ramp up production at its only U.S. car plant, and risked being arrested after county officials ordered the company to stay closed. The billionaire entrepreneur has slammed California's strict reopening plan, saying his company has a right to manufacture cars and make money.
Musk wrote in an email to employees, in documents reviewed by Bloomberg News: "Just wanted to send you a note of appreciation for working hard to make Tesla successful. It is so cool seeing the factory come back to life and you are making it happen!!" Over the weekend, Musk stated he would move Tesla and his rocket company SpaceX out of the state unless restrictions were lifted, prompting one California lawmaker to tweet "F*ck Elon Musk."
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dot.LA hosted its first virtual pitch showcase on Thursday featuring three emerging companies that will have a positive impact on the current COVID-19 crisis. Founding entrepreneurs from Flowly, Shared Harvest Fund, and Meal Share talked through their business plans, shared decks, and explained their market strategy,
Anna Barber is an Investor, advisor, connector and coach for founders at Techstars LA and The Fund LA.
Spencer Rascoff is the cofounder of dot.LA
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Join us at 11:00 a.m. PST August 4th for the next dot.LA Strategy Session on "The Future of Sports."
The Rams and Chargers are set to play in a brand new $5.5 billion stadium in Inglewood this season that is being billed as the most technologically advanced in the world. Meanwhile, Dodger Stadium just completed a $100 million update and L.A. will be getting a new pro women's soccer team, Angel City, in 2022 backed by high profile VC's and celebrities.
Julie Uhrman, Founder and President at WFC LA (Angel City)
Julie Uhrman, Founder and President at WFC LA (Angel City)<p>Founder and president of Angel City, the consortium who received the rights from the NWSL to officially bring a women's soccer team to Los Angeles in 2022. </p><p>Uhrman was named head of media at Playboy in 2018 after serving as Lionsgate's GM of over-the-top ventures, overseeing the company's Tribeca Shortlist, Comic-Con HQ, Laugh Out Loud in partnership with Kevin Hart and Pantaya. </p><p>Prior to joining Lionsgate, Uhrman worked at VR vendor Jaunt as head of platform business development. She was the founder and CEO of OUYA, an Android-based game console for living room, which raised $8.6 million through Kickstarter and then went on to secure venture funding from Kleiner Perkins and Alibaba before the company was acquired by Razer in 2015. Previously Uhrman held executive roles in digital and game companies including IGN Entertainment and Vivendi Universal.</p>
Kevin Demoff, Chief Operating Officer at Los Angeles Rams
Kevin Demoff, Chief Operating Officer at Los Angeles Rams<p>Kevin Demoff is in his 11th year as chief operating officer with the Rams. In this capacity, Demoff serves as the team's top front office executive and liaison to owner and chairman, Stan Kroenke, on all organizational matters.</p><p>Demoff was recognized by the Sports Business Journal as one of its "Forty under 40" class members of 2016 and in 2010 he was named one of the "NFL's 10 Future Power Brokers" by Sports Illustrated.</p><p>Prior to joining the Rams, Demoff spent the previous four seasons (2005-08) with the Tampa Bay Buccaneers, where he served as a consultant before being named senior assistant in 2006. In this capacity, Demoff assisted General Manager Bruce Allen in contract negotiations, salary cap management, strategic planning and both college and pro scouting. During his tenure with the Buccaneers, the team captured NFC South titles in 2005 and 2007 while posting a winning record in three of his four seasons.</p>
Ben Bergman, Senior Reporter at dot.LA
Ben Bergman, Senior Reporter at dot.LA<p>Ben Bergman is the newsroom's senior reporter, covering venture capital. Previously he was a senior reporter/host at KPCC, a producer at Gimlet Media and NPR and produced two investigative documentaries for KCET. He has been a frequent on-air contributor to NPR and Marketplace and has written for The New York Times. Bergman was a 2017-2018 Knight-Bagehot Fellow in Economic and Business Journalism at Columbia Business School. He enjoys skiing, playing poker, and cheering on The Seattle Seahawks.</p>
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