

Get in the KNOW
on LA Startups & Tech
X
Illustration by Ian Hurley
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.
From Your Site Articles
- The Early-Stage Startups in LA Set to Take Off in 2021 - dot.LA ›
- Los Angeles Startups Closed a Record Number of Deals in Q3 - dot.LA ›
- dot.LA's Map of Startups in Los Angeles - dot.LA ›
- The Hottest LA Startups of 2020 - dot.LA ›
- Los Angeles Cleantech Incubator Launches Green Loan Fund - dot.LA ›
- dot.LA's Guide on L.A. Flight Startups Overair, Archer Aviation - dot.LA ›
- Here Are LA’s Hottest Startups for 2023 - dot.LA ›
- Nobody Studios Plans to Build 100 Startups in Five Years - dot.LA ›
- From GameTree to Sota — Ukrainian Founders Call LA Home - dot.LA ›
Related Articles Around the Web
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.
dot.LA Summit: Former Dodger Shawn Green on Transitioning From Athlete to Startup Founder
10:30 PM | October 20, 2022
Photo by Samson Amore
After a baseball career spanning 14 years, former Los Angeles Dodgers right fielder Shawn Green decided it was time for a pivot.
Instead of targeting the typical route for former pro athletes and opting to become a commentator or analyst, Green chose to found Santa Monica-based Greenfly, a startup that provides a cloud-based media file sharing platform for a range of clientele from sports teams to retail stores.
Co-founded with CEO Daniel Kirschner, who previously served at Activision Blizzard as head of corporate affairs, Green launched Greenfly in 2014—a decade after he ended his season with the Dodgers.
“I always loved tech, so I figured I know, I want to reinvent myself and explore new things,” Green told panel host and Metropolis CEO Alex Israel at the 2022 dot.LA Summit regarding why he chose to start Greenfly. “The light bulb went off [and I thought] so why don't we become a [software as a service] company, and license our tech to sports networks.”
The 1999 Gold Glove winner and Stanford alumnus said he had dabbled with several startup ideas prior to settling on Greenfly’s concept.
“The first big thing we did was March Madness, and we did a deal with CBS and Turner,” Green said. After that trial run, Greenfly linked with Turner to fully license its software. Green said Greenfly works with the “top 10 biggest sports platforms in the world,” including the NBA, MLB and NHL.
Greenfly’s software platform lets users share files across social media, as well as capture and create content in the app. It also integrates with other content services like Getty Images and Dropbox. The company’s customers include the Dodgers, the San Jose Sharks and Paris Saint-Germain in addition to a number of consumer brands, including massage gun retailer Hyperice.
During the panel, Israel asked Green what key lessons he learned from pro baseball helped inform his career as a startup founder. “The most important thing I learned is you fail a lot,” Green said. “That’s helped a lot with my mindset as a startup, because there’s all sorts of things happening, all of a sudden things flip on a dime.”
Read moreShow less
Samson Amore
Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.
https://twitter.com/samsonamore
samsonamore@dot.la
Meet the Nonprofit Connecting Veterans With Psychedelic Therapy to Prevent Suicide
07:30 AM | November 11, 2022
Photo: VETS
In 2013, Navy Seal Marcus Capone medically retired after 13 years of service. Throughout his military career, Capone served on the Seals’ elite counter-terrorism unit, Seal Team 6, and was deployed to Afghanistan shortly after 9/11.
After over a decade of warfare, Capone struggled to ease back into everyday life.
“I was terrified that I would lose Marcus to suicide and I was determined to find anything that could help him,” says Amber Capone, Marcus Capone’s wife and partner since the age of 17. “I at one point thought we had exhausted everything and had decided this was not a life that I could continue living… and then sitting with that realization, I remembered one friend who had done psychedelic therapy outside of the U.S.”
At first, Marcus was skeptical. But after having spent nearly seven years taking various antidepressants, sleeping pills, and focus medications, Marcus was out of options.
“He had nothing to lose,” Amber says. So they decided to check Marcus into a treatment center in Mexico for a “heroic dose” of Ibogaine, an anti-addiction compound found in a West African plant that indigenous peoples have used for years as a form of psychedelic therapy. Marcus followed his first Ibogaine treatment with DMT.
Commonly known as the “spirit molecule,” DMT is considered one of the most powerful psychedelics in existence and researchers are just beginning to document its potential benefits in treating an array of mental health ailments including PTSD and addiction.
“I felt the weight of the world on my shoulders, was super anxious and I was really depressed,” Marcus says. “I just came out of there feeling extremely light,” as though he’d condensed “ten years of talk therapy” into a single week.
In 2019, two years after Marcus’s initial brush with psychedelic therapy, he decided to form VETS (Veterans Exploring Treatment Solutions), a San Diego-based nonprofit that offers veterans grants to pursue psychedelic therapy outside the U.S. Amber serves as the nonprofit’s executive director while Marcus is its chairman.
Marcus Capone and wife Amber after he completed BUD/S training. Photo: VETS
Currently, 17 veterans die by suicide every day, 57% more than civilians in the same age range, according to a study released by the VA in September. According to the department, over 1.7 million veterans were treated for mental health problems last year.
“While VA is conducting initial studies of the effectiveness of psychedelic drugs as a form of treatment for veterans with PTSD and other serious mental health issues, it’s important to note that there is much more to learn at this time,” a spokesperson for the VA tells dot.LA. “We do not endorse or encourage the use of any psychoactive substances as part of a self-treatment program.”
VETS co-founder and Chairman Marcus Capone.
Photo: VETS
The agency also says that while it “must follow all federal laws regarding Schedule I drugs,” and that “VA health care providers may not recommend them or assist veterans to obtain them, ” veterans who choose to take or are taking illegal drugs, won’t be denied their VA benefits.
Since its launch two years ago VETS has raised $7 million and helped over 700 veterans seek treatment in Mexico and Costa Rica.
“The Navy SEAL community, we do probably one of the best jobs in the world at taking care of each other,” Marcus says. “We pick up the slack if we’re not getting the support that we need. It's always been that way.” Adding that our country has a bad track record of taking care of its veterans when they return home – “I went and did work with the Israeli SEALs and they said, ‘you guys are like the world's premier fighting force [and] your country sucks at taking care of you when you come back.”
There are some signs that these unconventional therapies could become more mainstream. In July Democratic Sen. Cory Booker and Republican Sen. Rand Paul introduced a bill that would grant terminally ill people access to therapies that are currently classified as schedule I drugs. Texas Republican Sen. Dan Crenshaw and New York Democrat Alexandria Ocasio-Cortez co-sponsored an amendment to the National Defense Authorization Act that instructed the Pentagon to conduct more research on psychedelics and passed in July. But currently the only psychedelic that can be legally prescribed in the U.S. is ketamine.
“This is an issue that seems to be very bipartisan, very purple, and [it’s] very exciting,” says Amber. “It's really encouraging to see our nation's leaders actually agree on something and not only just agree on it, but actually come out together in support of it.”
Read moreShow less
Samson Amore
Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.
https://twitter.com/samsonamore
samsonamore@dot.la
RELATEDTRENDING
LA TECH JOBS