
Coronavirus Updates: Virgin Orbit Gets OK on Ventilators, Curative Signs Pact With Air Force
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.
Today:
- Curative signs pact With Air Force to deploy COVID-19 tests
- Sir Richard Branson's Virgin Orbit gets FDA approval on new ventilator design
- New report quantifies Q1 loss of L.A. filming days from COVID shutdown
New figures show COVID shutdown cut L.A. filming by 18% in Q1, set to free-fall
A new report from Film LA released Thursday reveals that filming days in L.A. in the first quarter of this year were down 18% compared to the same period last year. That number will plummet next quarter due to a county-wide filming moratorium that began on March 20.
In its forecast for Q2, Film LA has assumed the earliest date that filming could resume is June 1st -- and even then, only for small projects that can adhere to social distancing. Even if this scenario occurs--which FilmLA VP of Communications Philip Sokoloski admitted is optimistic--analysts already forecast that the shooting days lost this year so far are unrecoverable.
The timing of the shutdown is particularly bad for pilot season, which typically runs from February through May. In Q1, television took the largest hit, seeing a 20.6% decline in filming days. Feature film shoots fell 6.9%, while commercial shoots fell 12.5%. Reality shows, however, did see a Q1 uptick, of 11.7%.
Sir Richard Branson's Virgin Orbit gets FDA approval on new ventilator design
Sir Richard Branson's Virgin Orbit received approval from the U.S. Food and Drug Administration to begin immediate delivery of a new "bridge" ventilator designed and built by the satellite launch company. The Long Beach-based space company was given clearance through the FDA's Emergency Use Authorization, and expects to begin delivering ventilators to hospitals within the next few days.
"Virgin Orbit has leveraged its extensive engineering design, manufacturing, and operational capabilities to quickly design a novel ventilator, test prototype units, and ramp up production of these devices," the company said in a statement.
The device has been funded entirely by Virgin Orbit, and is a simple ventilator that's driven by a windshield-wiper motor. Physicians believe it can be used as a stop-gap solution until patients are able to be put on a standard ventilator.
Curative signs pact With Air Force to deploy COVID-19 tests
COVID-19 testing startup Curative and aerospace accelerator Gothams have signed an agreement with the U.S. Air Force to deploy its FDA-authorized oral fluid tests and comprehensive testing service to military personnel around the world.
"Broad testing is critical to our nation's ability to understand the COVID-19 pandemic, maintain operational readiness and restart the American economy," the companies said in a statement.
In this initial agreement, Curative will rapidly establish a new laboratory facility, fully operational this week, which will process up to 50,000 tests per day for the presence of COVID-19. In future phases of this agreement, Curative will establish eight testing locations across the U.S. to support testing for the U.S. population.
Curative has processed 75,000 tests amounting to about 20% of those administered in California, according to a spokesperson for the company.
Turner set up shop in a San Dimas lab in March and became an unsung hero in the battle to combat coronavirus in Southern California when he turned the focus of his company, originally meant to detect sepsis, to the pandemic. As part of this agreement with the Air Force, each Curative lab will have a daily capacity to examine 50,000 tests per day. Currently Curative has the capacity to scale to a network of 10 labs across the country for a total of 500,000 tests per day.
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Despite — or in many cases because of — the raging pandemic, 2020 was a great year for many tech startups. It turned out to be an ideal time to be in the video game business, developing a streaming ecommerce platform for Gen Z, or helping restaurants with their online ordering.
But which companies in Southern California had the best year? That is highly subjective of course. But in an attempt to highlight who's hot, we asked dozens of the region's top VCs to weigh in.
We wanted to know what companies they wish they would have invested in if they could go back and do it all over again.
Hottest
<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzIyNS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1OTQ3MjQ2OH0.JYCNMjYvosYa5SI7701CH_jMFbeFdMcRCChXt442cq0/img.png?width=980" id="4a086" class="rm-shortcode" data-rm-shortcode-id="f2f18f0bc4400a388e43736c560ff87f" data-rm-shortcode-name="rebelmouse-image" alt="PopShop Live logo" />PopShop Live ($100 million)
<p>The live-streaming shopping channel created by Danielle Lin reportedly found itself in the middle of a <a href="https://www.theinformation.com/articles/benchmark-wins-deal-for-live-shopping-app-popshop-at-100-million-valuation" target="_blank">venture capital bidding war this year</a>. Benchmark eventually won out leading a Series A round, vaulting the app at a $100 million valuation. The Los Angeles-based platform has been likened to QVC for Gen Z and <a href="https://dot.la/popshop-live-2646369816.html" target="_self">it's part of a new wave of ecommerce</a> that has found broader appeal during the pandemic. Google, Amazon and YouTube have launched live shopping features and other venture-backed startups like Los Angeles-based NTWRK have popped up.</p>Boiling
<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzIyOC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2MzI5MjYwMn0.h7Nq7GiwXTcg_7Io5WEXblFX0rWQHxn69RzluTh7n_Q/img.png?width=980" id="44eea" class="rm-shortcode" data-rm-shortcode-id="d02c4cad650c987721ff91ee939a5bf7" data-rm-shortcode-name="rebelmouse-image" alt="Scopely logo" />Scopely ($3.3 billion)
<p>One of the most valuable Southern California tech startups with <a href="https://dot.la/doubling-valuation-scopely-is-now-one-of-the-top-la-tech-startups-2648525465.html" target="_self">a $3.3 billion valuation</a>, the Culver City mobile game unicorn has benefitted from a booming gaming market that has flourished in this stay-at-home economy. Scopely offers free mobile games and its roster includes "Marvel Strike Force," "Star Trek Fleet Command" and "Yahtzee with Buddies." In October the company raised a $340 million Series E round backed by Wellington Management, NewView Capital and TSG Consumer Partners, among others fueling speculation that it was on its road to an IPO. Co-CEO Walter Driver <a href="https://www.bloomberg.com/news/articles/2020-10-28/scopely-raises-340-million-in-push-to-be-a-mobile-gaming-giant?utm_source=google&utm_medium=bd&cmpId=google&sref=4Kf8RwDw" target="_blank" rel="noopener noreferrer">has said</a> that he doesn't have immediate plans to go public. </p>Ordermark ($70 million)
<p>The coronavirus has forced the closure of many dining rooms, making Ordermark all the more sought after by restaurants needing a way to handle online orders. Co-founder and CEO Alex Canter started the business in 2017, which recently rang in more than <a href="https://www.forbes.com/sites/aliciakelso/2020/12/09/how-ordermarks-latest-funding-haul-could-help-independent-restaurants-survive-the-pandemic/?sh=443a72644b7d" target="_blank">$1 billion in sales</a>. Ordermark secured $120 million in Series C funding by Softbank Vision Fund 2 in October that it will use to bring more restaurants online. The company's Nextbite, a virtual restaurant business that allows kitchens to add delivery-only brands such as HotBox from rapper Wiz Khalifa to their existing space through Ordermark, is also gaining traction. </p>Simmering
<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzMxNi9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1NjM4MjQ5Mn0.XSHQfru9tTpdeBqd_ecb--8DiZg_vdyOtF9ZV9zAG78/img.png?width=980" id="f1665" class="rm-shortcode" data-rm-shortcode-id="ccc0b78dd8ae8cda9bf95979e83506fd" data-rm-shortcode-name="rebelmouse-image" />Cameo ($300 million)
<p>Cameo, which launched three years ago, had its breakout year in 2020 as C-list celebrities like Brian Baumgartner <a href="https://www.buzzfeed.com/larryfitzmaurice/kevin-office-highest-earning-cameo" target="_blank">banked over a million dollars</a> from creating customized videos for fans. In the sincerest form of flattery, <a href="https://www.bloomberg.com/news/articles/2020-12-15/facebook-building-tool-to-let-fans-pay-celebrities-for-face-time" target="_blank">Facebook is reportedly launching a feature that sounds a lot like Cameo. </a> Even though the company is still technically headquartered in Chicago, we included Cameo because CEO Steven Galanis and much of the senior team moved to L.A. during the pandemic and say they plan to continue running the company from here for the foreseeable future.</p>Mothership ($64 million)
<p>Co-founded by CEO Aaron Peck, Mothership provides freight forwarding services intended to streamline the shipping experience. The company's tracking technologies connect shippers with nearby truck drivers to speed up the delivery process. It raised $16 million in Series A venture funding last year, driving the platform to a $48 million pre-money valuation.</p>Nacelle ($6.7 million)
<p>Founded in 2019, Nacelle's ecommerce platform helps retailers improve conversion rates and decrease loading speeds for their sites. The software integrates with Shopify and other services, offering payment platforms and analytics integration, among dozens of services. Nacelle raised about $4.8 million earlier this year with angel investors that included Shopify's Jamie Sutton, Klaviyo CEO Andrew Bialecki and Attentive CEO Brian Long. </p>Boulevard ($30 million)
<p>Matt Danna and Sean Stavropoulos <a href="https://dot.la/boulevard-app-2649021308.html#:~:text=Their%20four%2Dyear%20old%20salon,to%20digitize%20their%20appointment%20books." target="_self">came up with Boulevard when an impatient Stavropoulos was frustrated</a> wasting hours to book a hair appointment. Their four-year-old salon booking and payment service is now used by some of Los Angeles' best-known hairdressers. Last month, the two secured a $27 million Series B round co-led by Index Ventures and Toba Capital. Other investors include VMG Partners, Bonfire Ventures, Ludlow Ventures and BoxGroup.</p>CloudKitchens ($5.3 billion)
<p>Uber co-founder Travis Kalanick CloudKitchens rents out commissary space to prepare food for delivery. And as the pandemic has fueled at-home delivery, <a href="https://www.wsj.com/articles/uber-founder-turns-real-estate-mogul-for-ghost-kitchen-startup-11603186200" target="_blank">the company has been gobbling up real estate</a>. The commissaries operate akin to WeWork for the culinary world and allow drivers to easily park and pick-up orders as the delivery market has soared during pandemic. Last year, it raised $400 million from Saudi Arabia's colossal sovereign wealth fund. </p>GOAT ($1.5 billion)
<p>Founded by college buddies five years ago, GOAT tapped into the massive sneaker resale market with a platform that "authenticates" shoes. The Culver City-based company has since <a href="https://dot.la/goat-group-la-2647074186/goat-uses-nba-playoffs-to-launch-brand-campaign" target="_self">expanded into apparel and accessories</a> and states that it has 20 million members. Last year, Foot Locker sunk a $100 million minority investment into 1661 Inc., better known as Goat. And this fall it landed another $<a href="https://dot.la/sneaker-reseller-goats-100m-raise-ptrendsetter-in-a-casual-era-of-ecommerce-2647774644.html" target="_self">100 million Series E</a> round bankrolled by Dan Sundeheim's D1 Capital Partners. </p>Savage X Fenty
<p>The lingerie company co-founded by pop singer Rihanna in 2018 is noted for its inclusivity of body shapes and sizes. It has raised over $70 million, but <a href="https://www.nytimes.com/2020/12/14/business/dealbook/roblox-tech-ipos.html" target="_blank">The New York Times' DealBook newsletter recently reported</a> that it's been on the hunt for $100 million in funds to expand into active wear. The company generates about $150 million in revenue, but is not yet profitable, according to the report. It became <a href="https://www.businessinsider.com/rihanna-savage-x-fenty-accused-of-deceptive-marketing-2020-2" target="_blank">the focus of a consumer watchdog investigation</a> after being accused of "deceptive marketing" for a monthly membership program.</p>Warming Up
<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzYwOS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY3MzQ1MzE4OX0.fS5XtGx4M-tqWecrth6NCHawGSg2aSkb-yR-cY3wbtU/img.png?width=980" id="c6334" class="rm-shortcode" data-rm-shortcode-id="aa7476f8a6216fed6b372d8a59876a6b" data-rm-shortcode-name="rebelmouse-image" />FabFitFun ($930 million)
<p>The lifestyle company provides customized personal subscription box services every three months with full size products. Started in 2010 by Daniel Broukhim, Michael Broukhim, Sam Teller and Katie Rosen Kitchens, it now boasts more than one million members. Last year, the company raised $80 million in a Series A round led by Kleiner Perkins last year and <a href="https://labusinessjournal.com/news/2020/oct/05/fast-growing-etailer-fabfitfun-possible-ipo/" target="_blank">appears to be preparing for an eventual IPO</a> as it slims down costs and refocuses on its <a href="https://dot.la/fabfitfun-layoffs-refocus-2645321060.html" target="_self">high value </a>products.</p>Dave ($1 billion)
<p>Launched in 2016, the finance management tool helps consumers to avoid overdrafts, provides paycheck advances and assists in budgeting. Last year, it began to roll out a digital bank account that was so popular that two million users signed up for a spot on the waitlist. The company, run by co-founder Jason Wilk, has raised $186 million in venture capital and counts billionaire Mark Cuban as an early investor and board member. Other backers include Playa Vista-based Chernin Group.</p>Sure ($59 million)
<p>SURE offers multiple technology products to major insurance brands — its platform can host everything from renter's insurance to covering baggage, so customers never have to leave an agency's website. It also offers its platform to ecommerce marketplaces, embedding third-party insurance protections for customers to purchase all on the same webpage. Founded in 2014, the Santa Monica-based startup last raised an $8 million Series A round led by IA Capital in 2017.</p>Zest AI ($90 million)
<p>Founded in 2009 by former Google CIO Douglas Merrill and ex-Sears executive Shawn Budde, Zest AI provides AI-powered credit underwriting. It helps banks and other lenders identify borrowers looking beyond traditional credit scores. It claims to improve approval rates while decreasing chargeoffs. The company uses models that aim to make the lending more transparent and less biased. This fall the company raised $15 million from Insight Partners, MicroVentures and other undisclosed investors, putting its pre-money valuation at $75 million, according to PItchbook.</p>PlayVS
<p>Santa Monica-based PlayVS provides the technological and organizational <a href="https://dot.la/playvs-high-school-esports-2647048099.html" target="_self">infrastructure for high school esports leagues</a>. The pandemic has helped the company further raise its profile as traditional sports teams have been benched. Founded in early 2018, PlayVS employs 46 people and has raised over $100 million. In addition to partnering with key educational institutions, it also has partnerships with major game publishers such as Riot and Epic Games.</p>Tapcart ($40 million)
<p>A SaaS platform helps Shopify brands create mobile shopping apps. The marketing software saw shopping activity jump 50% <a href="https://dot.la/tapcart-mobile-retail-platform-2646056623.html" target="_self">over 90 days</a> as the pandemic walloped traditional retailers. Founded by Eric Netsch and Sina Mobasser, the company raised a $10 million Series A round led by SignalFire, bringing the total raise to $15 million.</p>Papaya ($31.8 million)
<p>Papaya lets customers pay any bill from their mobile devices just by taking a picture of it. The mobile app touts the app's ease-of-use as a way to cut down on inbound bill calls and increase customer payments. Founded by Patrick Kann and Jason Metzler, the company has raised $25 million, most recently a S10 million round of convertible debt financing from Fika Ventures, Idealab and F-Prime Capital Partners.</p>Floqast ($250 million)
<p>FloQast is a management software that integrates enterprise resource planning software with checklists and Excel to manage bookkeeping. The cloud-based software company claims its system helps close the books up to three days faster. It is used by accounting departments at Lyft, Twilio, Zoom and The Golden State Warriors. In January, it raised $40 million in Series C funding led by Norwest Venture Partners to bring the total raise to $92.8 million.</p>Brainbase ($26.5 million)
<p>The company's rights management platform expedites licensing payments and tracks partnership and sponsorship agreements. It counts BuzzFeed, the Vincent Van Gogh Museum and Sanrio (of Hello Kitty and friends fame) among its clients. In May <a href="https://dot.la/headspace-brainbase-2647426309/rights-management-platform-brainbase-beefs-up-c-suite-following-8m-raise" target="_self">it announced $8 million in Series A financing </a>led by Bessemer Venture Partners and Nosara Capital, bringing the total raised to $12 million.</p>OpenPath ($28 million)
<p>The Los Angeles-based company provides a touchless entry system that uses individuals cell phones to help with identification instead of a key card. The company offers a subscription for the cloud-enabled software that allows companies to help implement safety measures and it said demand has grown amid the pandemic. Founded by <a href="https://dot.la/alex-kazerani-james-segil-2646964770.html" target="_self">James Segil and Alex Kazerani</a> the company r<a href="https://dot.la/openpath-primed-for-covid-accelerated-growth-announces-36-million-raise-to-make-keycards-obsolete-2646416034/particle-2" target="_self">aised $36 million led by Greycroft </a>earlier this year, bringing its total funding to $63 million.</p>FightCamp ($2.5 million)
<p>FightCamp is an interactive home workout system that<a href="https://mashable.com/article/fightcamp-review/" target="_blank"> turns your space into a boxing ring</a> with a free standing bag, boxing gloves and punch trackers. The company is riding the wave of at-home fitness offerings including Peloton, Mirror and Zwift that have taken off during the pandemic as gyms closed. The company has raised $4.3 million to date.</p>Numerade
<p>The Santa Monica-based company provides video and interactive content for education in math, science, economics and standardized test prep. Founded in 2018 by Nhon Ma and Alex Lee, who previously founded Tutorcast, an online tutoring service, the company gathers post-graduate educated instructors to create video lessons for online learning.</p>Our Place ($32.5 million)
<p>The creator of a pan with a cult following on social media, this Los Angeles-based startup designs and retails cookware and dinnerware. Founded by Amir Tehrani, Zach Rosner and Shiza Shahid, the company completed its Series A funding earlier this year, bringing its total raised to date to $10 million.</p>Tala ($560 million)
<p>For customers that have no formal credit or banking history, this company's application promises more financial access, choice and control. It gathers data to create a credit score that can be used to instantly underwrite and disburse loans ranging from $10 to $500. Co-founded by Shivani Siroya and Jonathan Blackwell, Tala has raised $217.2 million to date. Its investors include PayPal Ventures, Lowercase Capital and Data Collective.</p>ServiceTitan ($2.25 billion)
<p>Founded in 2007 by chief executive Ara Mahdessian and president Vahe Kuzoyan, ServiceTitan operates software that helps residential home contractors grow their businesses. It provides businesses tools like customer relationship management and accounting integration to streamline operations. The company closed a $73.82 million Series E funding round from undisclosed investors earlier this year.</p>100 Thieves ($160 million)
<p>Founded in 2017 by former professional "Call of Duty" player Matthew Haag, 100 Thieves manages esports competitions in major titles including "Counter Strike Global Offensive" and "League of Legends." The company also produces apparel and merchandise, opening a physical store and training ground called the "Cash App Compound" in collaboration with Fortnite earlier this year. The company has raised $60 million to date, from investors including Salesforce CEO Marc Benioff and Aubrey Graham, better known as the rapper Drake.</p>Emotive ($16.5 million)
<p>This AI-powered customer service platform automates text conversations between customers and businesses to increase sales. Emotive uses their sales team to verify questions, distinguishing it from other bot-driven marketing services, according to the company. The company was founded in 2018 by Brian Zatulove and Zachary Wise, who serve as the chief executive and the chief operating officer, respectively. It has raised $6.65 million to date, from Floodgate Fund and TenOneTen Ventures. </p>Everytable ($33 million)
<p>Created by former hedge fund trader Sam Polk, the Los Angeles-based startup wants to be a healthy fast food chain. It <a href="https://dot.la/everytable-2648958920.html" target="_self">prices its healthy pre-packaged meals around $5</a> in underserved communities while costing more in other neighborhoods with the goal of reducing so-called food deserts in low-income neighborhoods. It also offers a subscription delivery service. The company recently closed a $16 million Series B round led by Creadev along with Kaiser Permanente Ventures.</p>- Los Angeles' Tech and Startup Scene is Growing. - dot.LA ›
- The dot.LA/ Pitchbook Top 50 LA Startups for 2020 Q2 - dot.LA ›
- dot.LA/Pitchbook 50 Hottest Los Angeles Companies - dot.LA ›