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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.
Top LA Accelerators that Entrepreneurs Should Know About
02:05 PM | July 17, 2024
Los Angeles, has a thriving startup ecosystem with numerous accelerators, incubators, and programs designed to support and nurture new businesses. These programs provide a range of services, including funding, mentorship, workspace, networking opportunities, and strategic guidance to help entrepreneurs develop their ideas and scale their companies.
Techstars Los Angeles
Techstars is a global outfit with a chapter in Los Angeles that opened in 2017. It prioritizes local companies but will fund some firms based outside of LA.
Location: Culver City
Type of Funding: Pre-seed, early stage
Focus: Industry Agnostic
Notable Past Companies: StokedPlastic, Zeno Power
Grid110
Grid110 offers no-cost, no-equity programs for entrepreneurs in Los Angeles, including a 12-week Residency accelerator for early-stage startups, an Idea to Launch Bootcamp for pre-launch entrepreneurs, and specialized programs like the PledgeLA Founders Fund and Friends & Family program, all aimed at providing essential skills, resources, and support to help founders develop and grow their businesses.
Location: DTLA
Type of Funding: Seed, early stage
Focus: Industry Agnostic
Notable Past Companies: Casetify, Flavors From Afar
Idealab
Idealab is a renowned startup studio and incubator based in Pasadena, California. Founded in 1996 by entrepreneur Bill Gross, Idealab has a long history of nurturing innovative technology companies, with over 150 startups launched and 45 successful IPOs and acquisitions, including notable successes like Coinbase and Tenor.
Location: Pasadena
Type of Funding: Stage agnostic
Focus: Industry Agnostic, AI/Robotics, Consumer, Clean Energy
Notable Past Companies: Lumin, Coinbase, Tenor
Plug In South LA
Plug In South LA is a tech accelerator program focused on supporting and empowering Black and Latinx entrepreneurs in the Los Angeles area. The 12-week intensive program provides early-stage founders with mentorship, workshops, strategic guidance, potential pilot partnerships, grant funding, and networking opportunities to help them scale their businesses and secure investment.
Location: Los Angeles
Type of Funding: Pre-seed, seed
Focus: Industry Agnostic, Connection to South LA and related communities
Notable Past Companies: ChargerHelp, Peadbo
Cedars-Sinai Accelerator
The Cedars-Sinai Accelerator is a three-month program based in Los Angeles that provides healthcare startups with $100,000 in funding, mentorship from over 300 leading clinicians and executives, and access to Cedars-Sinai's clinical expertise and resources. The program aims to transform healthcare quality, efficiency, and care delivery by helping entrepreneurs bring their innovative technology products to market, offering participants dedicated office space, exposure to a broad network of healthcare entrepreneurs and investors, and the opportunity to pitch their companies at a Demo Day.
Location: West Hollywood
Type of Funding: Seed, early stage, convertible note
Focus: Healthcare, Device, Life Sciences
Notable Past Companies: Regard, Hawthorne Effect
MedTech Innovator
MedTech Innovator is the world's largest accelerator for medical technology companies, based in Los Angeles, offering a four-month program that provides selected startups with unparalleled access to industry leaders, investors, and resources without taking equity. The accelerator culminates in showcase events and competitions where participating companies can win substantial non-dilutive funding, with the program having a strong track record of helping startups secure FDA approvals and significant follow-on funding.
Location: Westwood
Type of Funding: Seed, early stage
Focus: Health Care, Health Diagnostics, Medical Device
Notable Past Companies: Zeto, Genetesis
KidsX
The KidsX Accelerator in Los Angeles is a 10-week program that supports early-stage digital health companies focused on pediatric care, providing mentorship, resources, and access to a network of children's hospitals to help startups validate product-market fit and scale their solutions. The accelerator uses a reverse pitch model, where participating hospitals identify focus areas and work closely with selected startups to develop and pilot digital health solutions that address specific pediatric needs.
Location: East Hollywood
Type of Funding: Pre-seed, seed, early stage
Focus: Pediatric Health Care Innovation
Notable Past Companies: Smileyscope, Zocalo Health
Disney Accelerator
Disney Accelerator is a startup accelerator that provides early-stage companies in the consumer media, entertainment and technology sectors with mentorship, guidance, and investment from Disney executives. The program, now in its 10th year, aims to foster collaborations and partnerships between innovative technology companies and The Walt Disney Company to help them accelerate their growth and bring new experiences to Disney audiences.
Location: Burbank
Type of Funding: Growth stage
Focus: Technology and entertainment
Notable Past Companies: Epic Games, BRIT + CO, CAMP
Techstars Space Accelerator
Techstars Space Accelerator is a startup accelerator program focused on advancing the next generation of space technology companies. The three-month mentorship-driven program brings together founders from across the globe to work on big ideas in aerospace, including rapid launch services, precision-based imaging, operating systems for complex robotics, in-space servicing, and thermal protection.
Location: Los Angeles
Type of Funding: Growth stage
Focus: Aerospace
Notable Past Companies: Pixxel, Morpheus Space
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DogVacay Founder Aaron Hirschhorn Dies in Miami Boating Accident
03:48 PM | March 31, 2021
Aaron Hirschhorn, a well-known investor and entrepreneur in the Los Angeles tech scene who founded the pet sitting startup DogVacay died Sunday in a boating accident near Miami Beach, Fla. He was 42.
Hirschhorn started DogVacay with his wife Karine Nissim in 2012. The Santa Monica, Calif.-based company raised nearly $50 million and was a leading competitor in the pet services industry before being acquired by Rover in 2017.
Hirschhorn moved from Los Angeles to Miami Beach about three years ago, according to the Miami Herald.
Hirschhorn held a seat on Rover's board for a year. A month ago on LinkedIn, he called news of Rover's plans to go public via a SPAC deal "an amazing day."
"All of us at Rover were saddened to learn of Aaron's sudden passing. Our thoughts are with his family, friends, and colleagues during this painful time," Rover said in a statement provided to GeekWire on Wednesday. "His love of animals and commitment to pet parents was exemplified in his founding and leadership of DogVacay and Gallant, but his vision for what was possible in the pet industry went well beyond what he already had accomplished."
In 2018 Hirschhorn founded another pet-focused startup called Gallant, which stores dog stem cells so that they're accessible for future treatments.
The Miami Herald reported that the Florida Fish and Wildlife Conservation Commission and the U.S. Coast Guard reported a crash on Sunday between a 38-foot Chris-Craft motorboat and a personal watercraft.
Hirschhorn was reportedly riding his electric foil surfboard and died at the scene. In an Instagram post on Monday, his wife wrote: "My beloved husband of ten years died yesterday in an accident. We are broken and will never be the same."
Hirschhorn's Instagram shows numerous family images and scenes from his active lifestyle. "I play sports and get hurt a lot," his profile description reads.
The photo feed also illustrates his love for dogs.
After the Rover acquisition, Hirschhorn called the growing of DogVacay "an incredible journey."
"Our goal has always been to make quality pet care accessible to everyone, and with Rover and DogVacay's experience and expertise, we will continue to create the best solution for our host community, our pet parents and most importantly, our pets that we love as family," he said at the time.
According to the Gallant website, Hirschhorn founded that company "after experiencing the power of regenerative medicine for himself" when he underwent a single stem cell treatment "to heal a debilitating back injury."
Hirschhorn pitched Gallant in a 2019 episode of the ABC TV series "Shark Tank" and snagged an investment from Lori Greiner and Anne Wojcicki, co-founder and CEO of 23andMe.
The Miami Herald reported that Hirschhorn is survived by his wife and their three young children: a daughter in kindergarten, a son in first grade and a son in second grade.
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Kurt Schlosser, GeekWire
Kurt Schlosser covers the Geek Life beat for GeekWire. A longtime journalist, photographer and designer, he has worked previously for NBC News, msnbc.com and the Seattle P-I.
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