

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.
These 2 Los Angeles Startups Are on the Forefront of a New Space Health Care System
06:00 AM | January 01, 2023
As human space tourism ramps up, and we continue to explore deeper into the cosmos, one alarming fact is becoming more evident: Despite decades of human spaceflight, we still have very limited information about how going to space, or staying there for sustained periods of time, affects our bodies.
So far, flights to low Earth orbit are relatively stable, and thankfully no one has perished on a trip yet. But there’s also more to come; Virgin Galactic is planning more space tourism trips next year and beyond that, longer-term missions like Elon Musk’s pet project to colonize Mars could come with some serious health risks. And, like any mission to space, nearly every variable has to be considered before launch to ensure the people undertaking these journeys are as healthy as possible.
That’s where private industry comes in. There’s a handful of startups that are focused on developing technology to make it easier to monitor human health in space. And while it may seem like a far-away pipe dream, they’ll be the first to tell you that having startups begin to develop health care products for space-related exploration is key to ensuring there aren’t mass casualties.
“The truth is, there is little that is more complex than space, and biology, and these are not things that have fast development times,” said Elizabeth Reynolds, a biologist and director of the Starburst Aerospace Care in Space Challenge. The challenge recently awarded six winning startups (three were local to Southern California) a $100,000 investment from pharmaceutical company Boryung, support for on-orbit experimentation by Axiom, a Houston-based company making private space stations, and acceptance into Starburst’s 13-week accelerator program.
“As we talk about deep space exploration, that is a point where we get into high amounts of cosmic radiation and it's an environment that will kill us,” Reynolds said. “We need solutions that are completely untethered from Earth.” Reynolds said she was “less concerned” about space tourism, and more focused on long-term habitation.
Reynolds did note that there’s one easy option, one that NASA’s relied on heavily up until now: send robots into space to do human work. That’s possible, but she noted, “I cannot imagine a future where we continue to only explore space by robots.”
There’s a myriad of issues that people face when spending long durations of time in space. Some side effects can range from motion sickness to radiation poisoning to heart and muscle atrophy. Others include bodily fluid shifting due to zero gravity, changes in vision, loss of muscle strength and changes in gut biome behavior. Of course, there’s also a host of potential mental side effects too, including depression or anxiety. A 2021 study published in the Journal of Clinical Nursing noted that these effects can also persist even after a person comes back from orbit.
Kay Olmstead, CEO of San Diego-based NanoPharma Solutions, was one of the companies selected by Starburst. She told dot.LA the company is working on a way to deliver drugs to people in space to maximize their effects.
Olmstead told dot.LA., NanoPharma “uses [a] nanocoating method developed by NASA to nanosize drugs to improve biosorption – [the] smaller the particle size, better solubility of [the] drug, hence better absorption into our body which is mostly water.”
The importance of nano-soluble drugs is key, since it could limit side effects that come from typical ingestion of drugs, such as liver and kidney damage, or systemic toxicology (when a drug is absorbed by or distributed to other parts of the body besides the specific target area), Olmstead explained.
She added that NanoPharma is working on using vacuum pressure in low Earth orbit to deliver drugs to diseased organs without needles, a potential groundbreaking solution since right now, most life-saving drugs need to be administered via IV and that’s “not suitable for space travelers.” Instead, NanoPharma is working to patent several methods of drug delivery including a nano-nasal spray and a nano-inhaler.
Olmstead noted that there’s a number of companies working on private space stations – besides Axiom, she also cited Northrop Grumman, Nanoracks and Sierra Space, who all have “grand plans of infrastructure building in space for private space travelers and in-space manufacturing.”
There’s a couple dueling local companies with ambitions to build private space stations as well: Vast Space, and Orbital Assembly.
Olmstead noted that there will have to be construction workers in space overseeing building of these outposts, and added, “Care for these space travelers and workers is the most important concern of these aerospace companies aside from the station building/maintenance.” She also said that outposts on the moon, which will likely be built after stations in low Earth orbit, come with “even more severe health hazards.”
Another local startup that won the Starburst challenge was Vibo Health. Based in Los Angeles and led by physicist and CEO Gil Travish, Vibo develops wearable health tracking technology that uses wrist scanning to give users insight into their health, with the goal of finding health risks without invasive tests.
Right now, Vibo has a growing business terrestrially, but Travish told dot.LA he’s eager to see how the tech could be applied to astronauts. “It is a niche, of course, but it's a growing niche,” Travish said. He noted that Vibo hopes to do in-space testing within the next two years.
For now, though, both Vibo and NanoPharma said they will continue developing and testing their technology on the ground with the goal of bettering patients’ lives here on earth. Travish said he’s optimistic that the work will not only better conditions for space-faring humans, but also unlock information about the human condition.
“It’s not just about going to space, it’s about learning more about ourselves,” Travish said.
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
How Women’s Purchasing Power Is Creating a New Wave of Economic Opportunities In Sports
05:00 AM | June 12, 2023
Samson Amore
According to a Forbes report last April, both the viewership and dollars behind women’s sports at a collegiate and professional level are growing.
In 2022, the first 32 games of the NCAA tournament had record attendance levels, breaking records set back in 2004, and largely driven by the new and rapidly growing women’s NCAA tournament. WNBA openers this year saw a 21% spike in attendance, with some teams including the LA Sparks reporting triple-digit ticket sales growth, about 121% over 2022’s total. In 2023, the average size of an LA Sparks crowd swelled to 10,396 people, up from 4,701 people.
Women make up half the population, but “also 50% of the folks that are walking into the stadium at Dodger Stadium, or your NFL fans are just about 50% women,” noted Erin Storck, a panelist and senior analyst at Los Angeles-based Elysian Park Ventures.
Storck added that in heterosexual households, women generally manage most of the family’s money, giving them huge purchasing power, a potential advantage for female-run leagues. “There's an untapped revenue opportunity,” she noted.
In the soccer world, Los Angeles-based women’s soccer team Angel City FC has put in the work to become a household name, not just in LA County but across the nation. At an LA Tech Week panel hosted by Athlete Strategies about investing in sports, Angel City head of strategy and chief of staff Kari Fleischauer said that years before launching the women’s National Women’s Soccer League team, Angel City FC was pounding the pavement letting people know about the excitement ladies soccer can bring. She noted community is key, and that fostering a sense of engagement and safety at the team’s home venue, BMO stadium (formerly Banc of California Stadium), is one reason fans keep coming back.
Adding free metro rides to BMO stadium and private rooms for nursing fans to breastfeed or fans on the spectrum to avoid sensory overload, were just some of the ways ACFC tried to include its community in the concept of its stadium, Fleischauer said. She noted, though, that roughly 46% of Angel City fans are “straight white dudes hanging out with their bros.”
“Particularly [on] the woman's side, I'd like to think we do a better job of making sure that there's spaces for everyone,” Fleischauer told the audience. “One thing we realize is accessibility is a huge thing.”
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