
Get in the KNOW
on LA Startups & Tech
XHere’s the Latest on Fifth Wall’s Early-Stage Climate Tech Fund
Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to harrison@dot.la.

Fifth Wall, the fast-growing real estate tech venture firm, revealed Monday that it has scored $140 million for its Early-Stage Climate Technology Fund. That's up from $116.8 million earlier this month, when the firm last disclosed its fundraising efforts for the climate investment vehicle in an amended SEC filing.
In December, Fifth Wall announced it had brought in prolific clean-tech investor Greg Smithies to head its efforts to "decarbonize the built world." That's when the firm went public about its plan to raise at least $200 million to invest in climate tech. The firm said today that it has brought in another partner to co-lead its climate team: Peter Gajdoš, the San Francisco-based former head of venture investments for wealth management group IPM.
Last year, Fifth Wall co-founder Brendan Wallace predicted that the real estate industry would one day become "the biggest spender on climate tech for no other reason than its contribution to the carbon problem."
Fifth Wall declined to comment publicly on the fund when reached for comment last week by dot.LA.
With backing from Montreal-based Ivanhoé Cambridge, which holds tens of billions of dollars in real-estate assets, Fifth Wall's climate fund led a $16 million investment in Sealed earlier this year alongside actor Robert Downey Jr's climate fund. Other real estate investors in Fifth Wall's climate fund include Equity Residential, Hudson Pacific Properties, Invitation Homes and Kimco Realty Corporation, Fifth Wall announced Monday.
New York-based Sealed is on "a quest to retrofit the U.S.' existing residential building stock and help them run more efficiently," Smithies wrote in June. Part of that equation involves getting homeowners aboard the heat pump train.
The technology could help American households considerably slash carbon emissions by 142 million metric tons annually, according to research released by Carbon Switch.
Sealed is one of at least three startups backed by Smithies in recent months, per the investor's LinkedIn. Others include Austin-based 3D-printed buildings startup Icon, which announced a $207 million late-August raise, and Emeryville-based pea milk company Ripple Foods. It disclosed a more than $57 million raise around the same time.This story has been updated to include the latest fundraising figures from Fifth Wall.
- LA Tech Updates: LA's Largest VC is Now a Public Benefit Corp ... ›
- Fifth Wall Joins the SPAC Boom - dot.LA ›
- Fifth Wall Venture Firm Is Now a B Corporation - dot.LA ›
- The Climate Crisis Is Changing How LA VCs Invest - dot.LA ›
- Fifth Wall Raises $159 Million For Its First European Fund - dot.LA ›
Harri is dot.LA's senior finance reporter. She previously worked for Gizmodo, Fast Company, VentureBeat and Flipboard. Find her on Twitter and send tips on L.A. startups and venture capital to harrison@dot.la.
Subscribe to our newsletter to catch every headline.
Relativity Space Surpasses $1 Billion in Contracts, Inks New Deal with Satellite Maker OneWeb
Samson Amore is a reporter for dot.LA. He previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter at @Samsonamore. Pronouns: he/him
Rocket maker Relativity Space soared past a milestone today, surpassing $1 billion worth of contracts for launches on its 3D-printed Terran R rocket.
Long Beach-based Relativity agreed to a multi-launch agreement with broadband satellite maker OneWeb on June 30. CEO Tim Ellis posted on Twitter that following the deal, Relativity now had over $1.2 billion in binding launch contracts secured by five different customers — even though the startup still has yet to send a rocket to orbit.
Ellis called the deal a “huge vote of confidence and we can’t wait to deliver.”
Relativity aims to send the OneWeb satellites by 2025. The OneWeb launch could be one of the first commercial launches sent into space by the rocket maker’s reusable Terran R craft.
OneWeb was previously using Russian Soyuz rockets to launch, but sanctions imposed on Russia following its invasion of Ukraine forced it to look to other alternatives. Ellis told TechCrunch Relativity was already looking to court OneWeb as a customer before the war, though, noting the deal “has been in the works for quite some time.”
OneWeb wants its broadband service to be operational by 2023, and to do that it has to launch at least 648 satellites into orbit. Relativity has two rockets under construction – Terran 1 and Terran R.
The smaller Terran 1 rocket has already secured a $3 million contract to launch small satellites for the Department of Defense. The Terran 1 will make its first flight in a mission nicknamed “Good Luck, Have Fun” (GLHF) which is expected to take off this summer and won’t carry any payloads. Assuming the GLHF mission is a success, Relativity will then launch the DoD mission.
The Terran R is Relativity’s 95%-reusable rocket and its answer to competitor SpaceX’s Falcon 9, with which OneWeb is also launching payloads.
In an interview with ArsTechnica earlier this year, Ellis said the craft could take off as soon as 2024, though it’s still being built at Relativity’s 1 million-square-foot factory headquarters in Long Beach.
Last June Relativity raised a $650 million Series E funding round led by its backer Fidelity Management & Research. At that time, Ellis told dot.LA the Terran R rocket was still under development and added, “Ever since Relativity's early days in Y Combinator, we've planned to manufacture a large reusable rocket.”
Samson Amore is a reporter for dot.LA. He previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter at @Samsonamore. Pronouns: he/him
Goop’s Noora Raj Brown On Having the Hard Conversations That Make Change
Yasmin is the host of the "Behind Her Empire" podcast, focused on highlighting self-made women leaders and entrepreneurs and how they tackle their career, money, family and life.
Each episode covers their unique hero's journey and what it really takes to build an empire with key lessons learned along the way. The goal of the series is to empower you to see what's possible & inspire you to create financial freedom in your own life.
On this week’s episode of the Behind Her Empire podcast, host Yasmin Nouri talks with the executive vice president of Gwyneth Paltrow’s Goop, Noora Raj Brown.
Brown started working at Goop when the company was still in the early, hectic stages, moving from a weekly newsletter Paltrow would send out to her friends to a multinational publishing and lifestyle brand.
At the time, Goop’s advice, guides and features about beauty style and wellness, were tackling difficult issues like divorce, sexuality and health in very personal terms.
“So much of what we do at Goop is to push conversations into the mainstream and to talk about things that, frankly, people don't always want to talk about,” she said. “And these are hard conversations, right?”
Brown, a daughter of immigrants, grew up in Silicon Valley and always considered herself a creative, even though her parents were hopeful she’d take a more conventional professional route. “It was like, very much medicine and tech, and I wasn't interested in either,” she says. Instead, her interest veered toward fashion.
After earning her degree, she moved to New York City to work at a fashion magazine called Details, where she got to learn quickly about how designers function and how garments are produced and promoted — but the job didn’t come easy.
“A lot of it was really like finding your path, feeling really lost for a long time. And I think I also had this idea that I would come to New York and I would start interviewing and get a job,” says Brown. “And that would sort of be it. And I didn't realize how insanely competitive it was.”
Brown moved on to work in talent PR where she organized photo shoots, coordinated the angles of stories and then at a fashion and style publication called InStyle during a time when it was in the process of being sold to a new owner.
“There was a feeling of like, you couldn't win,” Brown says. “You're operating from a place of fear; you're not able to be your best self, right?, and you're not able to produce your best work.”
In 2016, when Brown made her way to Goop, there was no in-house communications or legal team, no HR, piles of debt and, from Brown, terror. “I sort of felt like, I was the first line of defense for anything negative that happened to the business,” she says.
The experience left her feeling unqualified, but she said Paltrow’s confidence in her made Brown more confident in her own abilities.
“I think we all just need to give ourselves the benefit of the doubt a little bit,” she says.
Brown’s personal journey, in many ways, mirrored Goop’s mission to push unconventional conversations into the mainstream. Brown says Goop has faced some backlash for its stories, but she says she feels strongly that important topics shouldn't be taboo, and adds that it takes honesty and courage to make change.
“If you're really going to, as we say, [...] milk the shit out of life, you need to do that,” she says. “As I said, operating from a place of real pride, but also real bravery is super important.”
Engagement and Production Intern Jojo Macaluso contributed to this post.
Hear more of the Behind Her Empire podcast. Subscribe on Stitcher, Apple Podcasts, Spotify, iHeart Radioor wherever you get your podcasts.
- Seed Health, Known for Its Daily Synbiotic Pills, Gets $40M - dot.LA ›
- Meet Snap's New Class of Yellow Accelerator Program Startups ... ›
Yasmin is the host of the "Behind Her Empire" podcast, focused on highlighting self-made women leaders and entrepreneurs and how they tackle their career, money, family and life.
Each episode covers their unique hero's journey and what it really takes to build an empire with key lessons learned along the way. The goal of the series is to empower you to see what's possible & inspire you to create financial freedom in your own life.
Inspectiv Raises $8.6M To Build a Better Cybersecurity Platform
Samson Amore is a reporter for dot.LA. He previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter at @Samsonamore. Pronouns: he/him
What do education startups, maternal care platforms and Minecraft servers have in common? They’re all susceptible to hacking.
Also, businesses in each industry use software created by Manhattan Beach-based Inspectiv, which announced Thursday that it’s raised an $8.6 million Series A round to continue developing its artificial intelligence that detects and wipes out security threats.
The new funds bring the total Inspectiv has raised to $16.6 million since its 2018 launch. Founder and chairman Joseph Melika told dot.LA the company’s recent growth has largely been steered by the pandemic as companies put a higher value on data security.
The heightened need for better security, according to Melika, is due to recent changes in how people work. “Just people, frankly, getting distracted,” he said, has made some businesses more vulnerable to hackers.
“They’re working remotely, their laptops are from home [with] no firewall,” he said, adding that has left a lot of systems potentially exposed to hacks.
Inspectiv’s risk management platform runs autonomously 24/7 and is constantly scanning for threats, Melika said. The software isn’t just run on A.I., it's also combined with a network of security researchers. Melika said part of Inspectiv’s intelligence comes from the input of thousands of researchers.
Once it finds a threat, the software alerts Inspectiv, whose vulnerability spot-checkers verify it and identify it to the client. Then, Inspectiv scans its other clients for the same threat, or similar invasions that could be lurking. There’s also the potential for the software to review backup files, in case a company wants to make sure no older resolved threats spring back to life.
Melika pointed out several current Inspectiv clients using its software are local, including GoGuardian, maternal care company Mahmee and Minehut, a platform for people to host custom “Minecraft” servers.
The funding round was led by StepStone Group, among a suite of existing Inspectiv investors including Westwood-based Fika Ventures, San Francisco’s Freestyle Capital and Santa Monica-based Mucker Capital.
CEO Ryan Disraeli (left) and Founder and Chairman Joseph Melika (right)
Courtesy of Inspectiv
Inspectiv also announced a leadership transition this week alongside several new hires – former CEO and co-founder of fraud prevention service Telesign Ryan Disraeli will take the reins as CEO of Inspectiv, while Melika will remain on board as the company’s board chairman.
“Inspectiv is really helping secure the internet, and that was something that personally I could get passionate about,” Disraeli said. “To be able to work with a team of people that we brought in that also has that security background, but also experience scaling up organizations was a pretty exciting opportunity.”
The company also hired Karen Nguyen as chief revenue officer, Ray Espinoza as chief information security officer and Ross Hendrickson to be vice president of engineering. Disraeli said the Inspectiv team is currently 22 people but the company is “adding aggressively to that number” by expanding its product development team.
Disraeli wouldn’t disclose revenues but told dot.LA he’s confident he can grow Inspectiv quickly.
“There's a lot of companies raising money that don't have customers and don't have real growth,” Disraeli said. “This is a company that has real customers that are growing and growing with us.”
- Santa Barbara Cybersecurity Startups Raise Millions - dot.LA ›
- NVISIONx Cybersecurity Startup Raised $4.6M in Seed Funding ... ›
- Orca Security Lands $230M as it Looks to Grow in Los Angeles - dot ... ›
- Obsidian Cybersecurity Startup Raises $90 Million - dot.LA ›
Samson Amore is a reporter for dot.LA. He previously covered technology and entertainment for TheWrap and reported on the SoCal startup scene for the Los Angeles Business Journal. Send tips or pitches to samsonamore@dot.la and find him on Twitter at @Samsonamore. Pronouns: he/him