Watch Our First 'Female Founders Stories' Event with WeeCare and DropLabs
On Thursday, July 16, dot.LA kicked off the first in our series of "Female Founders Stories," with the aim of holding candid conversations with the minds behind some of the city's most innovative startups.
Chief host and correspondent Kelly O'Grady spoke with WeeCare Co-founder & CEO Jessica Chang as well as DropLabs Founder & CEO Susan Paley about their "aha" moments and experiences as women leading L.A. startups.
Chang said the inspiration for WeeCare came from advice her friends gave her while she was still pregnant: sign up for childcare now.
It wasn't until she started touring daycare centers that Chang realized why they were so insistent. Most daycares came with a one to two year waiting list. And the cost? Sometimes up to $3,000 per month. Chang felt a looming sense that the lack of options would force her to choose between family and work.
That's why she started WeeCare, a startup to help teachers, new moms and caregivers to set up and manage home daycares.
Chang, whose background is in finance and private equity, became a preschool owner and operator during the first phase of her plan. "It took me running three preschools to really understand the inherent nature of what was happening in the world of childcare," she said.
The company began as a childcare marketplace, a sort of one-stop solution for families looking for and managing the daycare process. At the same time, WeeCare offers a "business in box" solution for providers.
Female Founder Stories: WeeCare and DropLabs www.youtube.com
Susan Paley's experience was much different. As the first CEO for Beats by Dr. Dre, she already knew a good deal about the industry she was aiming to disrupt.
Her company, DropLabs, focuses on the "feeling" of sound by adding an immersive layer to media experiences, whether that's watching a movie, listening to music or playing video games. It also makes wired-up sneakers that she says allows 'your whole body to become a speaker cabinet'.
"It's getting people to feel, to connect," Paley said. "It could be that first concert, your first concert you loved so much, and playing that music to transport you to that."
"I'm hoping this becomes a ubiquitous way to experience digital content, which is not going away" Paley added. "Even when COVID goes away, we'll still be completely wired to get all of our consumption on screens. Most of what we're ingesting is two-dimensional and we're three-dimensional beings."
Watch the full conversation in the video above and sign up for our newsletter to get updated on our next event.
About the Speakers
Susan Paley is the founder & CEO of DropLabs
Susan Paley, Founder & CEO of DropLabs
Susan Paley is the founder and CEO of DropLabs, a first-of-its-kind tech company on a mission to enable the world to feel sound from the ground up. With their first release, a sneaker called the EP 01, DropLabs integrates audio technology and footwear to deliver a truly immersive audio-sensory experience you can feel throughout your entire body. Over the course of her 20+ year career in consumer technology, Susan has been the driving force behind some of the most innovative consumer products. Most notably, Susan was the initial CEO of Beats By Dre, where she successfully guided all aspects of the company's unparalleled growth to make it the #1 headphone provider globally.
Jessica Chang is co-founder & CEO of WeeCare
Jessica Chang, Co-Founder & CEO of WeeCare
WeeCare is the easiest way for teachers, new moms and caregivers to start and manage a successful home daycare. We're addressing the $28B home childcare market, offering startup services to navigate the daycare licensing process and providing a business-in-a-box toolset to simplify operations, generate additional revenue and delight parents. Founded by a team of moms, preschool owners and successful technology founders, WeeCare is creating affordable, quality daycares accessible to all families.
Before WeeCare's founding, Jessica worked in finance and operations and gathered experience in early education through owning Los Angeles preschools.
Kelly O'Grady, Chief Host and Correspondent
Kelly O'Grady is dot.LA's chief host & correspondent. Kelly serves as dot.LA's on-air talent, and is responsible for designing and executing all video efforts. A former management consultant for McKinsey, and TV reporter for NESN, she also served on Disney's Corporate Strategy team, focusing on M&A and the company's direct-to-consumer streaming efforts. Kelly holds a bachelor's degree from Harvard College and an MBA from Harvard Business School. A Boston native, Kelly spent a year as Miss Massachusetts USA, and can be found supporting her beloved Patriots every Sunday come football season.
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On this week's episode of LA Venture, hear from Marcos Gonzalez, the managing partner at Vamos Ventures, a seed-stage venture fund which invests in Latino and diverse founders. Over half of L.A. County is Latino. A relatively new fund, investments are in the range of $100,000 to $500,000. Seems like a great time to be investing in this community! And, Vamos is hiring...
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El Segundo-based telemedicine technology provider Cloudbreak Health and Florida-based UpHealth Holdings, a digital healthcare provider, announced they will combine and go public via a SPAC in a deal that values the combined companies at $1.35 billion.
Named UpHealth, Inc., the new company aims to streamline online health care by becoming a single provider of four different services: telehealth, teletherapy, a health care appointment and management system and an online pharmacy.
UpHealth runs healthcare platform Thrasys Inc. and MedQuest Pharmacy, along with two other behavioral health companies. The merger with Cloudbreak, which under the pandemic expanded their interpretation services to remote medicine, will give the new company a foothold in almost 2,000 hospitals.
"What we wanted to do was form a business that could really be a digital infrastructure for health care across the continuum of care, right from home to hospital," said Jamey Edwards, the co-founder and CEO of Cloudbreak. Under the agreement, he will become the company's chief operating officer.
GigCapital2 expects the merger transaction to close at the start of Q1 2021. UpHealth will be publicly traded under the ticker "UPH" on the New York Stock Exchange. UpHealth's integrated care management platform serves over 5 million people, and is expected to reach 40 million over the next three years, according to the company.
Jamey Edwards, co-founder and executive director of Cloudbreak
COVID-19 caused a meteoric growth in the use of telehealth services. In February, 0.1% of Medicare primary visits were provided through telehealth. In April, that number was nearly 44%, according to the U.S. Department of Health and Human Services.
"Key stakeholders have seen and responded well to the benefits that telemedicine can bring, but they need a more comprehensive, integrated solution," said Al Gatmaitan, who has been named the co-chief executive officer of UpHealth. "This is what UpHealth focuses on, the adoption of digital health solutions well beyond the pandemic crisis."
The deal with the blank check company GigCapital2 gives the two digital health companies access to a wider network. UpHealth and its family of companies operate in 10 countries and their pharmacy has 13,000 e-prescribers in the U.S.
UpHealth will use the Cloudbreak platform as part of their global telehealth services to provide patients with round-the-clock care under a variety of specialties, including telepsychiatry and tele-urology. UpHealth also has contracts internationally, to provide country-wide care in India, Southeast Asia and Africa.
Edwards joined Cloudbreak in 2008 when it went from public to private. It has raised $35 million in venture funds, most recently in the first quarter of this year scoring $10 million from Columbia Partners Private Capital.
Editor's note: An earlier version of this story identified Jamey Edwards as executive director of Cloudbreak, he is its CEO.
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Ryan Edwards, the co-founder of Happier Camper, said he's asked all the time if his company leans on influencer marketing to promote their vintage-style trailers beloved by millennials.
With a waitlist six months out and demand growing from hotel-weary travelers, he said it isn't a priority yet.
"We almost don't need to," said Edwards.
That's because the $25,000 to $50,000 custom trailers have been a hit with a loyal fan base, and rising demand during the pandemic has only helped. Orders for compact trailers at the lower price end, including Happier Camper's 75-square-foot camper, are growing as newbie road trippers look for COVID-safe travels.