This Week in 'Raises': Regard Secures $15M, MaC Venture Capital Raises $203M for Second Fund

Decerry Donato

Decerry Donato is dot.LA's Editorial Fellow. Prior to that, she was an editorial intern at the company. Decerry received her bachelor's degree in literary journalism from the University of California, Irvine. She continues to write stories to inform the community about issues or events that take place in the L.A. area. On the weekends, she can be found hiking in the Angeles National forest or sifting through racks at your local thrift store.

This Week in 'Raises': Regard Secures $15M, MaC Venture Capital Raises $203M for Second Fund
Image by Joshua Letona

This week in “Raises”: A local healthcare startup secured funding to help grow the team and deploy its software to more physicians and hospitals, while Black-led, seed-stage venture capital firm surpassed its goal for its second fund.


Venture Capital

Regard, a Culver City-based healthcare startup using AI software to help physicians diagnose patients, raised a $15.3 million Series A funding round co-led by Calibrate Ventures and Foundry Group.

Homelister, the Santa Monica-based digital brokerage and real estate startup, raised a $10M Series A funding round co-led by M13 and Homebrew.

L.A.-based cybersecurity firm Inspectiv raised an $8.6 million Series A funding round led by StepStone Group.

Foresite Technology Solutions, a Costa Mesa-based technology platform that offers IP management to the construction industry, raised $8 million in funding led by Gallant Capital.

L.A.-based virtual dressing room StyleScan, which uses AI and augmented reality for its virtual dressing room fashion SaaS, raised $1 million in new funding led by Clearbrook Capital.

Santa Ana-based online health care provider platform Sensible Care, raised a $13 million Series A funding round led by Volition Capital.

Funds

MaC Venture Capital, an L.A.-based, Black-led, seed-stage venture capital firm, raised $203 million for its second fund from repeat investors like Goldman Sachs, ICG Advisors, StepStone, the University of Michigan, the George Kaiser Family Foundation and the MacArthur Foundation.

Raises is dot.LA’s weekly feature highlighting venture capital funding news across Southern California’s tech and startup ecosystem. Please send fundraising news to Decerry Donato (decerrydonato@dot.la).

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Genies Wants To Help Creators Build ‘Avatar Ecosystems’

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

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Here's What To Expect At LA Tech Week

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

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Rivian Q2 Earnings Are a Much-Needed Nothing Burger

David Shultz

David Shultz is a freelance writer who lives in Santa Barbara, California. His writing has appeared in The Atlantic, Outside and Nautilus, among other publications.

Rivian R1S at a charging station in the desert.
Rivian's Q2 numbers are delightfully boring.

Rivian, the fledgling electric vehicle startup in Irvine, CA, released its Q2 earnings yesterday. I’m happy to report they’re pretty boring! There were no big surprises from RJ Scaringe’s EV hopeful, but here are the report highlights:

  • ~$15 billion of cash, cash equivalents, and restricted cash as of June 30 2022.
  • 98,000 net R1 preorders
  • Amazon has ordered 100,000 electric delivery vans
  • Rivian has produced 8k vehicles so far
  • The company is still on pace to deliver 25,000 vehicles in 2022
  • -Actual revenue was $364 million.
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