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What Are LA’s Hottest Startups of 2022? See Who VCs Picked in dot.LA’s Annual Survey
Harri Weber
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.
In Los Angeles—like the startup environment at large—venture funding and valuations skyrocketed in 2021, even as the coronavirus pandemic continued to surge and supply chain issues rattled the economy. The result was a startup ecosystem that continued to build on its momentum, with no shortage of companies raising private capital at billion-dollar-plus unicorn valuations.
In order to gauge the local startup scene and who’s leading the proverbial pack, we asked more than 30 leading L.A.-based investors for their take on the hottest firms in the region. They responded with more than two dozen venture-backed companies; three startups, in particular, rose above the rest as repeat nominees, while we've organized the rest by their amount of capital raised as of January, according to data from PitchBook. (We also asked VCs not to pick any of their own portfolio companies, and vetted the list to ensure they stuck to that rule.)
Without further ado, here are the 26 L.A. startups that VCs have their eyes on in 2022.
1. Whatnot ($225.4 million raised)
Whatnot was the name most often on the minds of L.A. venture investors—understandably, given its prolific fundraising year. Whatnot raised some $220 million across three separate funding rounds in 2021, on the way to a $1.5 billion valuation.
The Marina del Rey-based livestream shopping platform was founded by former GOAT product manager Logan Head and ex-Googler Grant LaFontaine. The startup made its name by providing a live auction platform for buying and selling collectables like rare Pokémon cards, and has since expanded into sports memorabilia, sneakers and apparel.
2. Boulevard ($40.3 million raised)
Boulevard’s backers include Santa Monica-based early-stage VC firm Bonfire Ventures, which focuses on B2B software startups. The Downtown-based company fits nicely within that thesis; Boulevard builds booking and payment software for salons and spas. The firm has worked with prominent brands such as Toni & Guy and HeyDay.
3. GOAT ($492.7 million)
GOAT launched in 2015 as a marketplace to help sneakerheads authenticate used Air Jordans and other collectible shoes. It has since grown at a prolific rate, expanding into apparel and accessories and exceeding $2 billion in merchandise sales in 2020. The startup sealed a $195 million funding round last summer that more than doubled its valuation, to $3.7 billion.
The Best of the Rest
VideoAmp ($578.6 raised)
Nielsen competitor VideoAmp gathers data on who's watching what across streaming services, traditional TV and social apps like YouTube. The company positions itself as an alternative to so-called "legacy" systems like Nielsen, which it says are "fragmented, riddled with complexity and inaccurate." In addition to venture funding, its total funding figure includes more than $165 million in debt financing.
Mythical Games ($269.4 million raised)
Seizing on the NFT craze, Mythical Games is building a platform that powers the growing realm of “play-to-earn games.” Backed by NBA legend Michael Jordan and Andreessen Horowitz, the Sherman Oaks-based startup’s partners include game publishers Abstraction, Creative Mobile and CCG Lab.
FloQast ($202 million raised)
FloQast founder Michael Whitmire says he got a “no” from more than 100 investors in the process of raising a seed round. Today, the accounting software company is considered a unicorn.
Nacelle ($70.8 million raised)
Nacelle produces docuseries, books, comedy albums and podcasts. The media company’s efforts include the Netflix travel series “Down To Earth with Zac Efron.”
Wave ($66 million raised)
A platform for virtual concerts, Wave has hosted performances by artists including Justin Bieber, Tinashe and The Weeknd. The company says it has raised $66 million to date from the likes of Warner Music and Tencent.
Papaya ($65.2 million raised)
Sherman Oaks-based Papaya looks to make it easier to pay “any” bill—from hospital bills to parking tickets—via its mobile app.
LeaseLock ($63.2 million raised)
Based in Marina del Rey, LeaseLock says it’s on a mission to eliminate security deposits for apartment renters.
Emotive ($58.1 million raised)
Emotive sells text message-focused marketing tools to ecommerce firms like underwear brand Parade and men's grooming company Beardbrand.
Dray Alliance ($55 million raised)
Based in Long Beach, Dray says its mission is to “modernize the logistics and trucking industry.” Its partners include Danish shipping company Maersk and toy maker Mattel.
Coco ($43 million raised)
Coco makes small pink robots on wheels (you may have seen them around town) that deliver food via a remote pilot. Its investors include Y Combinator and Silicon Valley Bank.
HiveWatch ($25 million raised)
HiveWatch develops physical security software. Its investors include former Twitter executive Dick Costollo and NBA star Steph Curry’s Penny Jar Capital.
Popshop ($24.5 million raised)
Whatnot competitor Popshop is betting that live-shopping is the future of ecommerce. The West Hollywood-based firm focuses on collectables such as trading cards and anime merchandise.
First Resonance ($19.4 million raised)
Founded by former SpaceX engineer Karan Talati, First Resonance runs a software platform for makers of electric cars and aerospace technology. Its clients include Santa Cruz-based air taxi company Joby Aviation and Alameda-based rocket company Astra.
Open Raven ($19 million raised)
Founded by Crowdstrike and Microsoft alums, Open Raven aims to protect user data. The cybersecurity firm’s investors include Kleiner Perkins and Upfront Ventures.
Fourthwall ($17 million raised)
When an actor faces the camera and speaks directly to the audience, it’s known as “breaking the fourth wall.” Named after the trope, Venice-based Fourthwall offers a website builder that’s designed for content creators.
The Non Fungible Token Company ($15 million raised)
The Non Fungible Token Company creates NFTs for musicians under the name Unblocked. Its investors include Jay Z’s Marcy Venture Partners and Shawn Mendez.
Safe Health Systems ($15 million raised)
Backed by Mayo Clinic Ventures, Safe Health develops telehealth software and offers tools for enterprises to launch their own health care apps.
Intro ($11.6 million raised)
Intro’s app lets you book video calls with experts—from celebrity stylists, to astrologists, to investors.
DASH Systems ($8.5 million raised)
With the tagline “Land the package, not the plane,” DASH Systems is a Hawthorne-based shipping company that builds hardware and software for automated airdrops.
Ettitude ($3.5 million raised)
With a focus on sustainability, Ettitude is a direct-to-consumer brand that sells bedding, bathroom textiles and sleepwear.
Afterparty ($3 million raised)
Along similar lines as Unblocked, Afterparty creates NFTs for artists and content creators such as Clay Perry and Tropix.
Heart to Heart ($0.75 million raised)
Heart to Heart is an audio-focused dating app that “lets you listen to the story behind the pictures in a profile.” Precursor Ventures led the pre-seed funding round.
Frigg (undisclosed)
Frigg makes hair and beauty products that contain cannabinoids such as CBD. The Valley Village-based company raised an undisclosed seed round in August.
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Harri Weber
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.
🎧The Essential Podcast Playlist for Entrepreneurs, Founders, Tech Pros, and VCs
06:44 PM | September 25, 2024
Podcasts offer a front-row seat into the minds of the most successful entrepreneurs, VCs, and industry thought leaders. Whether you're scaling your startup, raising capital, or simply staying ahead of the game, these shows deliver invaluable insights, actionable lessons, and fresh inspiration. And let’s be honest, if you’re stuck in LA traffic (again), what better way to kill time than by learning from the best? Here’s a roundup of our top podcasts for entrepreneurs, founders, tech professionals, and VCs, complete with why they’re a must-listen.
Image Source: Apple Podcasts
The a16z Podcast
- Hosts: Partners at Andreessen Horowitz (a16z), one of Silicon Valley’s most influential venture capital firms.
- What it discusses: Covering a broad spectrum of topics like AI, blockchain, healthcare, and fintech, the podcast features interviews with founders, VCs, and tech leaders shaping the future.
- Why you should listen: Get access to cutting-edge insights from one of the world’s most influential VC firms, keeping you ahead of emerging trends.
- Why it’s great for entrepreneurs, founders, and VCs: This podcast brings cutting-edge insights from one of the top VC firms. Entrepreneurs will learn about emerging technologies, while VCs can stay ahead of investment trends shaping the future of tech.
Listen on: Spotify |Apple Podcasts
Image Source: Apple Podcasts
Acquired Podcast
- Hosts:Ben Gilbert andDavid Rosenthal.
- What it discusses: Acquired breaks down the stories behind major tech acquisitions, IPOs, and exits, dissecting the strategies and market dynamics involved.
- Why you should listen: Gain deep insights into how tech giants build and sell, making it essential for anyone aiming to understand successful exits.
- Why it’s great for entrepreneurs, founders, and VCs: Perfect for founders looking to scale or position themselves for acquisition. VCs will benefit from the deep dives into the playbooks of successful exits, offering valuable lessons on company growth and market positioning.
Listen on: Spotify |Apple Podcasts
Image Source: Apple Podcasts
The All-In Podcast
- Hosts:Chamath Palihapitiya (Social Capital),Jason Calacanis (LAUNCH),David Sacks (Craft Ventures), andDavid Friedberg (The Production Board).
- What it discusses: From venture capital and tech trends to politics and economics, this podcast delivers unfiltered, candid commentary from high-profile industry insiders.
- Why you should listen: It’s a no-holds-barred discussion on major issues affecting the tech industry, providing you with insider insights into the conversations that shape Silicon Valley.
- Why it’s great for entrepreneurs, founders, and VCs: The candid, unfiltered conversations give listeners a peek into the decision-making processes of some of the biggest names in tech and VC. Entrepreneurs can gain valuable market insights, while investors will appreciate the high-level strategy discussions.
Listen on:Spotify | Apple Podcasts
Image Source: Apple Podcasts
BG2 Podcast
- Hosts:Brad Gerstner (Altimeter Capital) andBill Gurley (Benchmark).
- What it discusses: BG2 takes you through macroeconomic trends, the tech market, venture capital insights, and cutting-edge technologies like AI. It’s a high-level conversation on tech investing.
- Why you should listen: Brad and Bill’s deep experience in tech investing, combined with their straightforward, no-nonsense style, makes this a must-listen for tech insiders.
- Why it’s great for entrepreneurs, founders, and VCs: Get insider-level insights into the macro trends driving tech investments. Founders will learn how to navigate these trends, while VCs can better understand the shifting forces in the venture world.
Listen on: Spotify | Apple Podcasts
Image Source: Apple Podcasts
Crucible Moments Podcast
- Host:Roelof Botha of Sequoia Capital
- What it discusses: The podcast dives into the pivotal, career-defining moments of top leaders and entrepreneurs. Guests share personal stories of resilience, growth, and how they overcame adversity.
- Why you should listen: It’s packed with inspirational stories of grit and perseverance, offering lessons that apply to both life and business.
- Why it’s great for entrepreneurs, founders, and VCs: The podcast’s focus on personal and professional resilience makes it especially valuable for entrepreneurs who need inspiration during tough times, and VCs who want to understand how founders overcome adversity.
Listen on: Spotify | Apple Podcasts
Image Source: Apple Podcasts
Grit Podcast
- Host:Joubin Mirzadegan.
- What it discusses: In-depth interviews with founders, executives, and leaders who share stories of navigating challenges, building resilience, and finding success in tough times.
- Why you should listen: If you want raw, real stories of leadership and determination, this podcast offers invaluable insights into what it takes to lead in business.
- Why it’s great for entrepreneurs, founders, and VCs: The podcast’s focus on perseverance and leadership makes it a must-listen for founders facing challenges in their business. VCs will gain insights into the traits that make strong, resilient founders.
Listen on: Spotify | Apple Podcasts
Image Source: Apple Podcasts
The Twenty Minute VC
- Host:Harry Stebbings.
- What it discusses: Featuring short, insightful interviews with top VCs and founders, this podcast covers topics ranging from securing funding to scaling startups.
- Why you should listen: Perfect for busy professionals who want quick, actionable advice on navigating the venture capital world.
- Why it’s great for entrepreneurs, founders, and VCs: For busy entrepreneurs, this podcast delivers quick, actionable advice on funding and scaling. VCs can stay connected to the latest trends through bite-sized interviews with industry leaders.
Listen on: Spotify |Apple Podcasts
These podcasts are packed with insights, inspiration, and actionable advice for anyone looking to grow, innovate, or level up. Whether you're building something new, looking for investment know-how, or just eager to learn from those who've been there, each show has something valuable to keep you moving forward on your journey.
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Luxurious Second Home Ownership without the Headache: How Pacaso is Changing the Landscape of Real Estate
12:36 PM | September 27, 2024
🔦 Spotlight
Pacaso addresses the pain points of second home ownership, offering a luxurious, flexible, and financially sound alternative to traditional second homes and ultra-luxury hotels. Co-founded in 2020 by entrepreneur Austin Allison and former Zillow executive and prominent LA tech figure Spencer Rascoff, Pacaso, an unicorn startup, has redefined vacation home ownership with its unique co-ownership model. Rascoff's contributions to the LA tech scene extend beyond real estate; he also founded 75 & Sunny, an LA-based startup studio and venture fund, and co-founded dot.LA, an LA tech news and events company.
LA residents adore Pacaso for its lush vacation destinations that also make for smart investments. Pacaso offers everything from serene weekend getaways in Aspen to sophisticated escapes in Paris. Each residence, valued between $200k to over $2M for 1/8th, boasts meticulous design, high-end furnishings, and premium amenities. Unlike traditional second home ownership, which involves high costs, maintenance, and underutilization, or ultra-luxury hotels, which lack the personal touch and investment potential, Pacaso's co-ownership model offers a superior solution. Co-owners enjoy the benefits of a high-end vacation home without the full financial burden and hassle of sole ownership, making it a smarter and more flexible choice for discerning buyers.
Image Source: Pacaso
Cabo, Mexico
$822,000 (1/8th ownership)
5 bds. l 5 ba. l 4,969 sq ft
Image Source: Pacaso
Paris, France
$600,000 (1/8th ownership)
2 bds. l 2.5 ba. l 1,410 sq ft
Image Source: Pacaso
Malibu, California
$750,000 (1/8th ownership)
3 bds. l 3 ba. l 1,880 sq ft
Image Source: Pacaso
Park City, Utah
$755,000 (1/8th ownership)
4 bds. l 4.5 ba. l 2,584 sq ft
Head to Pacaso to learn more about its innovative co-ownership model that addresses the common challenges of second home ownership!
🤝 Venture Deals
LA Companies
- Oak Essentials, the natural skincare brand founded by Jenni Kayne, has raised an undisclosed amount in Series A Funding from Silas Capital and Unilever Ventures. This investment will drive the brand’s expansion, focusing on product development, boosting marketing efforts, and expanding distribution channels. - learn more
- Playhouse MD, an upcoming children’s healthcare platform that incorporates play to enhance health outcomes, has raised $4M in funding, according to a recent SEC filing. - learn more
- FluidLogic, a high-performance hydration system provider, raised $15M in a Series A Extension led by Solyco Capital to support product development and innovation for adventure sports and outdoor endurance categories, with consumer products launching in early 2025. - learn more
- Reflect Orbital, which uses in-space reflectors to direct sunlight to solar farms and large-scale lighting applications after sunset, has raised $6.5M in seed funding led by Sequoia Capital. The funding will help the company develop production vehicles and expand its team as it builds space-based energy infrastructure. - learn more
- Feno, a Los Angeles-based company developing an AI-powered energy trading platform, raised $6M in seed funding led by Bold Capital Partners. - learn more
LA Venture Funds
- Finality Capital led a $4M Pre-Seed Funding Round for Octra, a pioneering blockchain network focused on Fully Homomorphic Encryption (FHE). - learn more
- Smash Capital led a €20M Series B round into Vilnius-based Ovoko, an e-commerce platform for buying and selling used car parts across Europe, marking Smash Capital's first investment in Lithuania. The funds will support Ovoko's product development, market expansion, and team growth as it aims to dominate the European market for second-hand automotive components. - learn more
- M13 led a $9M Series A Funding Round for Zenlytic, the world’s first self-serve business intelligence platform. - learn more
LA Exits
- Donut Digital, a Manhattan Beach creative-led performance marketing agency, agreed to be acquired by New Engen, a leading digital marketing agency. - learn more
- National Emblem Inc., a renowned manufacturer of emblems and specialty products, has been acquired by Enrich Enterprises Inc., which will now operate under the National Emblem tradename. - learn more
- Continuum Global Solutions’ healthcare vertical has been acquired by Everise, a customer service management company, enhancing Everise’s capabilities in pharmacy benefit management and expanding its growth prospects in the healthcare sector. - learn more
- Radical Semiconductor, a company specializing in processing-in-memory technology, has been acquired by BTQ Technologies, a leader in post-quantum cryptography. This acquisition strengthens BTQ’s ability to secure data in the post-quantum era by integrating Radical Semiconductor's advanced technology portfolio. - learn more
- Subrosa Digital, a full service digital marketing and consulting agency, was acquired by Navio Networks, a leading CTV operator in Free Ad-supported Streaming TV (FAST). - learn more
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