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Your Guide to the dot.LA Summit 2022
We're so excited to be bringing back our annual dot.LA Summit, held in-person October 21st-22nd at the Petersen Museum in Los Angeles. Featuring hundreds of top founders, investors and operators for the largest celebration of L.A.'s tech and startup ecosystem, this year's program has a lot going on... and there's still time to register!
Here's what to expect from this year's Summit.
summit graphic dot.la
October 20th (Doors Open at 5 pm PST):
Join on us on our preview night, which begins with a VIP cocktail reception, three fireside chats and a pitch competition. First, we have 2021’s “Entrepreneur of the Year” Alex Israel of Metropolis Technologies, who will be doing exclusive one-on-one interviews with Arena Club co-founder Brian Lee, followed by two-time Dodgers All-Star Shawn Green.
After that, dot.LA co-founder Spencer Rascoff will host a discussion with Julia Boorstin about her new book, "When Women Lead."
Finally, we wrap up the evening with our annual Pitch Competition, hosted by Fenwick. The winner will be announced the next day, during the main event!
October 21st (Doors Open at 7:30 am PST):
Get ready for a big day by exploring the Bond Exhibit at the Petersen Museum while enjoying a quick breakfast, then head on over to the main stage, where dot.LA co-founder and CEO Sam Adams will be joined by sweetgreen founder Jonathan Neman to discuss L.A.'s historically unique relationship to health food and salads... and what Angelenos eating habits can tell us about the future of sustainable eating.
Also on the main stage will be our Web3 panel on virtual avatars, hosted by reporter Samson Amore. Panelists include Tricia Biggio from Invisible Universe, Asid Malik from Jadu, and MELON CEO Josh Neuman. The panel will provide a chance for startups working on avatars to explain how we could navigate the web and interact with each other using our digital proxies.
Following that, Sam Adams will host another restauranteur and Los Angeles staple, Alex Canter from Canter's Deli and Nextbite, followed by a panel on tackling the housing crisis in Los Angeles hosted by dot.LA reporter Decerry Donato. This panel will discuss tech’s impact on developments in the industry, including how tech can be used to address affordable housing, homelessness and innovation in a rapidly changing market and be hosted by Crate Modular's Jaren Grady; Deputy Mayor of Budget and Innovation of the City of Los Angeles Jeanne Holm and Ross Maguire of Azure Printed Homes.
Wrapping up the morning we have three breakout rooms, which include a workshop on Scaling Your Leadership, hosted by Evolution and moderated by Evolution Managing Director and Co-founder Matt Auron, featuring panelists Janine Davis, Carolyn Jones, and Erik Kellener. Following that, Pacific Western Bank will host a breakout session called Funding Growth Beyond The Term Sheet. Attendees can also sit in on a panel on Creators, Curators, and Community Builders, hosted by dot.LA writer Lon Harris and featuring guests Jon Bodenheimmer from Spotter, Evan Britton from Famous Birthdays, Jamie Gutfreund of Whaler and Rosie Nguyen of Fanhouse. The panel will focus on the creator economy and how Big Tech money has changed the way influencers monetize their brands.
After a two-hour lunch, we'll return with three more breakout rooms. First up is Charging Up Clean Mobility, hosted by dot.LA writer David Shultz and featuring Paul Gioupis from Zeem Solutions, Ramy El-Bartrawi from EV Mobility and Scott Painter from Autonomy. Following that we have Revolutionizing Online Marketplaces moderated by Grace Kangdani from Bank of America and sponsored by Zoolatech, featuring panelists Roman Kaplun from Zoolatech and Dan Dan Li from Popshop Live. And finally we have Equity in the L.A. Ecosystem, featuring Kojuan “Ko” Trinidad-Williams of L.A. Tech and featuring panelists including Stuart McCalla from Evolution, Marcos Gonzalez from Vamos Ventures, Derek Smith from Plug In South LA and Aisling Carlson from Diversity VC.
At 3 p.m., join Spencer Rascoff as we close out our conversation portion of the day in talks with Dana Settle, managing partner at Greycroft, for Founders & Funders: The Artistry Between Transformative Entrepreneurs and Key Investors. The two will discuss the unique relationship between founder and anchor VC in the world of high-growth startups.
Our last main stage panel will be Health in the Post-Roe Era, moderated by Kathryne Cooper of Jumpstart Nova. This panel seeks to address the discrepancy in intent and action from investors in the tech, and financial sides of reproductive health care, while also sharing developments in health tech for those living in the Post-Roe-Era. Panelists include Crystal Adesanya from Kiira Health, Kiki Freeman of HeyJane, Cindy Adam of Choix, and Dr. Jessica Nouhavandi, co-CEO, co-founder and lead pharmacist of Honeybee Health.
Following that, dot.LA will be presenting its annual Startup Awards, and announcing the winner's of the previous night's Pitch Competition. Enjoy appetizers and cocktails as we close down the evening with a mixer hosted by dot.LA, and chat with our editors and journalists about the future of LA Tech.
Register today for dot.LA's Summit 2022, we can't wait to see you there!
dot.LA Summit 2022 would like to thank its official sponsors, including: Bank of America, Fenwick, Metropolis, Zoolatech, Pacific West, Evolution, TriNet, RSM, Satellite Teams, Coda Search, iWallet, CoMotion, ELIQS, Popl, Curbivore, Not Flat Photos and WeWork.
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Sherman Oaks-based SaaS company FloQast has closed a Series D round of $110 million led by Meritech Capital, bringing the company's valuation to $1.2 billion and officially marking it a unicorn. General Partner at Meritech George Bischof will also join the company's board of directors.
FloQast, which opened their U.K. headquarters in London last month, will use the funds to expand globally and add more accounting functions.
But Whitmire, FloQast's co-founder and CEO, said he is particularly excited to have Meritech Capital leading their Series D, as the VC firm has invested in many companies that have gone public, something that has been a goal of his for a long time.
"Honestly, it's more important than the valuation; the funds we got involved is the headliner from my perspective," said Whitmire. "I get that valuations sell, but the funds are so good that we got involved."
The cloud-based software tackles the niche market of corporate accounting departments and works to improve their workflow and automate the process of closing the books at the end of each month. Currently, there are more than 1,400 departments globally that use FloQast.
Whitmire got the idea for FloQast when he worked as a senior accountant for talent management software company Cornerstone OnDemand. As the company was in the process of going public, Whitmire noticed some issues with the month-end close process; it was unorganized and more stressful than it needed to be.
"Imagine having a sales team without a [customer relationship management] solution. That's effectively how accounting has been operating," said Whitmire.
In what he called a "classic entrepreneur moment," Whitmire realized there must be a better way to do this. Soon after, he left Cornerstone and started FloQast.
Floqast co-founder and CEO Michael Whitmire.
The company's minimum viable product was enough to get them into the Amplify accelerator in 2013. The accelerator was specifically looking for SaaS companies at the time, something Whitmire now sees as a stroke of luck.
Since then, much of what has contributed to the company's success is the perception of a pressing need for software like this. Many of the investors, while not accountants themselves, have experienced the struggles of not getting their numbers from accounting in time and thus saw the company's appeal.
The customers, however, are accountants, and the company's tagline, "By accountants for accountants," encapsulates what appeals to the customer base. This refers not only to the fact that two accountants co-founded the company, but that around 40% of the company's staff has a background in accounting.
"That shows through in our culture, our customer service, the product, the brand," said Whitmire. "People want to work with us because we're one of them. We're accountants, we get it, we've been there, we've been in the trenches."
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Now comes the harder part: producing them at scale.
The Torrance-based defense startup raised a $1B Series C at a $13B valuation. The financing includes $800M in equity and a $250M revolving credit facility, making it one of the largest recent raises for an LA defense technology company.
JPMorganChase’s Strategic Investment Group, Andreessen Horowitz and Carlyle co-led the round. Lightspeed Venture Partners, Lavrock Ventures, Altimeter, General Catalyst, T. Rowe Price and LA-based Interlagos Capital also participated.
Castelion will use the capital to ramp production of Blackbeard, its low-cost hypersonic strike missile, while developing a longer-range precision weapon and new defensive systems. Hundreds of millions of dollars will go toward expanding manufacturing at Project Ranger, the company’s 1,000-acre production campus in New Mexico.
Image Source: Castelion
Blackbeard was designed in California, will be built in New Mexico and is expected to enter service in 2027. Castelion says it has already secured more than $500M in U.S. military contracts over the past 18 months and moved the missile from a clean-sheet concept to an official program in fewer than four years.
That timeline is central to Castelion’s pitch. Traditional defense programs are often associated with long development cycles, limited production runs and eye-watering costs. Castelion is applying the rapid testing and vertically integrated manufacturing approach popularized by commercial space companies to weapons production.
But a $13B valuation changes the standard. Castelion is no longer being judged as a promising startup with an impressive prototype. It is being funded like a company expected to become a major part of the American defense industrial base.
The question is no longer whether a startup can build a hypersonic missile. It is whether one can manufacture thousands of them without losing the speed, discipline and cost advantages that made it disruptive in the first place.
For LA’s defense ecosystem, that shift matters. The region has become home to a growing number of companies promising to modernize how America builds critical hardware. Castelion now has the capital, contracts and facilities to show what happens when that promise reaches the factory floor.
The next test will not be in a pitch deck. It will be in production.
More from this week’s LA startup and venture scene below.
🤝 Venture Deals
LA Companies
- Long Beach based Ampaire raised a $19M Series B led by DiamondStream Partners, with strategic participation from Alaska Star Ventures and IAGi Ventures, bringing its total funding to $68M. The hybrid-electric aviation company will use the capital to expand flight operations, produce additional Eco Caravan aircraft, advance regulatory certification and scale its manufacturing capabilities. - learn more
LA Venture Funds
- SUM Ventures participated in AssistMe’s €6.5M funding round, which was led by CRB Health Tech and Vorwerk Ventures and included several returning investors. The German care technology company will use the capital to expand across Europe, prepare for a U.S. launch and further develop alea, its digital platform for supporting caregivers and improving nursing-home operations. - learn more
- CIV led Hypercubic’s $5.3M seed round, with participation from Y Combinator, Afore Capital, Pioneer Fund, Multimodal Ventures and several angel investors. The San Francisco startup will use the capital to develop AI agents that can analyze, document and rewrite decades-old COBOL systems, helping enterprises modernize critical mainframe software faster and with less risk. - learn more
- Plus Capital participated in Wispr Flow’s $280M Series B, led by Menlo Ventures and joined by existing and new investors, valuing the AI voice company at $2B. The funding brings Wispr’s total capital raised to $361M and will support its expansion beyond dictation into meeting tools and proprietary speech technology, including its new Canto model. - learn more
- Alexandria Venture Investments participated in Leal Therapeutics’ $30M Series A extension alongside new investor Eli Lilly and returning backers including OrbiMed, Newpath Partners and SV Health Investors’ Dementia Discovery Fund. The biotech company will use the funding to advance clinical trials of LTX-001 for schizophrenia and LTX-002 for ALS, with initial schizophrenia trial data expected by year-end. - learn more
- BroadLight Capital participated in Higgsfield’s $400M Series B, led by DST Global and joined by investors including Goldman Sachs Alternatives, Smash Capital, Fifth Wall and Intel Capital. The AI video and image platform, now valued at $5.4B with $700M in annualized revenue, will use the funding for R&D, global infrastructure, AI hiring and international expansion. - learn more