The Pandemic Has Changed the Music Industry Forever. Meet the LA Music-Tech Startups Poised to Reshape It.

Sam Blake

Sam primarily covers entertainment and media for dot.LA. Previously he was Marjorie Deane Fellow at The Economist, where he wrote for the business and finance sections of the print edition. He has also worked at the XPRIZE Foundation, U.S. Government Accountability Office, KCRW, and MLB Advanced Media (now Disney Streaming Services). He holds an MBA from UCLA Anderson, an MPP from UCLA Luskin and a BA in History from University of Michigan. Email him at samblake@dot.LA and find him on Twitter @hisamblake

The Pandemic Has Changed the Music Industry Forever. Meet the LA Music-Tech Startups Poised to Reshape It.
Image courtesy of Wave
  • The pandemic has ravaged the music industry, but music-tech companies are poised to drive its growth into an industry where a music company is much more than music.
  • Los Angeles is home to a bustling ecosystem of startups empowering musicians through a variety of next-generation technologies.
  • The Takeaway: Innovations in music-tech offer new tools to independent artists to help them create music, manage money, reach fans and share their music in vivid, immersive ways.

The pandemic has hushed the music industry. Throbbing concert crowds have disappeared, artists' sales have plummeted and musicians' overall income has fallen precipitously. But a handful of Los Angeles-based tech startups are providing musicians with everything from socially-distanced collaborative recording to simplified back-office accounting.

"The L.A. music-tech scene is primed to drive this industry forward," says Ed Buggé, partner at L.A.-based entertainment law firm Hertz Lichtenstein & Young. "It's a hugely exciting time in the industry, with startup-driven disruption enabling new models for artists and media companies alike."

Buggé, who advises some of the world's leading tech and media companies, says the ecosystem of music-tech startups is poised to accelerate two big trends in the music industry.

One is the rise of independent artists. In 2018, indies – artists who own most or all of their material – earned 6.6% of total recorded music revenues. That's a 78% growth rate from 2015, which makes independent artists the fastest growing segment of the recorded music market. Entertainment research firm MIDiA says this change "could prove to be more impactful than even the rise of streaming."

The other trend startups are speeding up is the transformation of what a music company even is.

"Music is no longer just music," says Buggé, adding that audio is becoming inseparable from technologies spanning artificial intelligence, gaming, social media, as well as augmented and virtual reality.

Recording Studios at Home

Musicians today have far more access to high-quality production tools and capabilities than they once did.

Software packages like Logic Pro or Ableton have brought the recording studio's physical equipment and professional engineers right into an artist's living room, saving them thousands of dollars.

"In 2020, all you really need is the essentials – your phone, your laptop, and a good pair of headphones," says Americo Garcia, aka Boombox Cartel. Add in a good $100 microphone or two and an instrument and you've got a home studio.

"Back in the day you'd have to ship reels of tape and jump hoops and loops just to make a song happen. Nowadays you can email someone in Poland and say, 'hey man, let's start something,'" Garcia says. In addition to tools like Dropbox that enable file-sharing across the world, several companies have emerged to help musicians find and work with each other.

"If you think you need a label to blow up, you're wrong," Garcia says.

Meet Your Bandmates

Musicians' Jammcard profiles help them to collaborate

L.A.-based Jammcard has been called the "LinkedIn for musicians." Founded in 2017 by professional drummer Elmo Lovano, the company has nearly 10,000 members and has raised around $2 million from Quincy Jones, Twitch co-founder Kevin Lin and Lionsgate President Robby Melnick.

Lovano formed the company to streamline the process by which professional musicians find each other, rather than relying on word-of-mouth. He estimates that as many as 95% of Jammcard members are independent, and that their median income is around $70,000.

"A lot of the people that are on Jammcard are the people that support the big artists; Kendrick Lamar's not on Jammcard, but his entire band and crew are," Lovano says. "Sound engineers, stage managers, guitar techs – we like to say that it's for 'anyone that's on the bus or in the studio'."

Lovano says Jammcard is finalizing partnerships with Sony and Fender and has recently expanded its platform to enable digital payments to members for collaborating, performing and teaching. Jammcard also recently partnered with New York-based Splice, an online music production service that offers downloadable samples and plugins that make it "a lot more accessible and intuitive to start creating music," says Ankur Patel, Splice's head of corporate development. Jammcard's artists can host their sound samples on Splice and share in the proceeds.

Soundstorming is another L.A. company using tech to enable artistic collaborations. Users upload small segments of their self-produced audio files, allowing other members on the platform to provide feedback and even layer in their own bass grooves, vocal melodies, and drum beats to collectively compose a new track.

Build Your Own Label

Former UTA agent Milana Lewis created Stem Disintermedia in 2015 to "alleviate back office work so an artist can eliminate those costs and release content more easily."

Stem co-founder and CEO Milana Rabkin Lewis

As an agent, Lewis saw how the complexities of music copyright were depriving musicians of opportunities to make money. "The administrative work was too burdensome for any individual artist to do," she told dot.LA. Artists would give up and say, ''I'm just going to put it up for free'" on sites like YouTube and Soundcloud.

Stem has raised over $12 million in funding, including two rounds from L.A. firm Upfront Ventures. The startup also recently launched its own $100 million debt-financing arm to allow artists to borrow money against their existing catalogs.

Stem's interface helps artists and their managers track their finances

Create Music Group, another startup formed in 2015 that helps artists take control of their accounting and distribution, has a similar origin story.

"We realized the YouTube landscape was poorly mismanaged," recalls Sam Casucci, partner and senior vice president of digital strategy at Create, recently named the second-fastest growing company in the country in the annual Inc. 5000 list. Create employs about 120 people and serves over 10,000 clients – mostly indie artists and labels, the company says. "There was a lot of music and (rights holders) who weren't getting paid what they should be," Casucci says. Create has since built technology on top of YouTube's rights-management platform to help artists make money.

Create Music Group's Hollywood office

Independent artist and Create client Ray J told dot.LA, "They help you study everything that's going on and help you find money you might not have even known existed."

"When you sign to a major label you don't really get to see what's going on behind the scenes," says Ray J. "You can become your own record label now."

Create's dashboard to help musicians manage their copy rights

Get Paid

Elsewhere in L.A., Pex helps artists manage their monetization by following the data associated with their songs across the web. Wilson Hays, head of business development, says Pex monitors over 20 billion songs and videos on dozens of social media platforms.

The company indexes all that data – which comprises over three-times as much content as what's on YouTube, Hays says – and uses patented technology to allow the people behind the music to track and measure its online activity. It even allows artists to easily issue take-down notices if they wish.

Pex's song-tracking dashboard

"YouTube has Content ID and Facebook has Rights Manager, but outside those platforms, in the wild, you don't know how your content is being shared, moved, monetized, or pirated," Hays says. "We want to put control back in rights holders' hands."

That sort of control offers benefits to artists that they wouldn't necessarily have with a traditional label deal. One benefit is that payments come in faster. It also gives artists more freedom to manage their career trajectory.

And that freedom gives artists the choice in how they use the many emerging mediums by which they can share their music.

Reach an Audience

An artist who wants to interact directly with fans can post their songs on a host website like YouTube, TikTok, Soundcloud or Bandcamp and chat with their audiences on social media channels. But these platforms have limitations.

A post on Instagram, for example, carries no guarantee that it will reach an artist's fans; most followers do not see every post. Artists must also contend with the fact that the interests of social media platforms are not always aligned with their own.

Jake Udell, a music manager and entrepreneur with a reputation for digital wizardry, recognized social media's limitations early on.

"The thing I kept noticing was that the algorithms were making it really challenging for us to reach our audiences," Udell told dot.LA. "I didn't think there was a fix, though. We'd given up and sort of ceded our audiences to these social platforms."

Then he conducted an experiment. Tickets went on sale for an artist of his who had about twice as many fans in L.A. than New York. Not surprisingly, about twice as many purchases came in for the L.A. shows than the New York ones. Udell then decided to collect around 1,000 phone numbers from fans at a New York show.

"We found some random texting service online and just blasted them out," he recalls. "What happened next changed the way I thought about building audiences online forever."

7,000 tickets to two New York shows immediately sold out. Udell wrote about it on his blog, which is how he met Matthew Pelltier, chief executive of L.A.-based Community.com, where Udell is now head of activation.

"The algorithm has not really been an enabler" for musicians, Udell says. "What if we could just meet the fans where they're already at?"

That's exactly what Community does, he says, by providing artists (and other "Leaders") a SaaS platform for exchanging text messages with fans en masse.

"I think about it like this," Udell says. "How many social platforms have you joined over the last 10 years? Versus how many times did your phone number change?...The phone number is a true atomic unit of identity; it's not going anywhere."

What's more, Udell says 98% of text messages get opened in the first three minutes.

"On other platforms there's a guarantee of instant publishing, but there's no guarantee of instant distribution," he says. Whereas with Community, "the idea that you will always be able to reach your fans, this community, via text, is a really empowering thing not just for you personally but for your business."

Big-timers like Jennifer Lopez use Community, as do aspiring local band types. Prices depend on audience size. One feature: ability to segment fan outreach so that, for instance, a band coming to a specific town can message only the locals – "See you at the show tonight?"

Tour Virtually

Wave turns performers into digital avatars and puts them on virtual stages where they can entertain and interact with fans, who tune in via VR headset, gaming console or web browser.

"We started the company four years ago to help musicians make money," Wave chief executive Adam Arrigo told dot.LA. "We've been touring musicians and we know how hard it is."

Wave has now hosted over 50 events. Its recent concert featuring The Weeknd in partnership with TikTok reportedly drew a digital audience of over 2 million fans.

A Wave concert of Swedish band Galantis

Arrigo says his former role as a designer for the Rock Band video game franchise showed him how novel technologies can empower musicians.

"From working on that game I learned that when you create new experiences you can create additional revenue streams for the industry," he says.

Building on a blueprint established in part by L.A.-based Brud (whose digital influencer and singer Lil' Miquela currently has 2.6 million Instagram followers and attracts millions of views on YouTube), Strangeloop Studios is currently designing a cast of animated characters of its own.

Co-founder and chief executive Ian Simon, who is also on the creative team at Wave, says, "the long-term vision is to be a studio; to bring in storytellers and visual artists and creators to tell stories using these characters. The characters are a medium in themselves."

A character from Strangeloop Studios' virtual artist label, Spirit BombStrangeloop Studios

Those characters present musicians with scalable creative opportunities. "You can play the same show with the same character in multiple places at the same time," Simon says. "They're vessels for human collaboration – multiple musicians contributing songs, various visual artists creating content and fans informing the narrative and aesthetic trajectory of the characters."

"People are already listening to music on screens, even if the screen isn't really being leveraged," says Simon, whose small team includes former visual designers for megastars like Kendrick Lamar and Flying Lotus.

Immersive Music

ViRvii – a portmanteau of virtual, visual, and immersive – gives artists a new "paintbrush" for creating immersive fan experiences, says founder Juan Dueñas, who formerly founded My Mixtapez and was an early user of Oculus' development kit.

Dueñas says ViRvii will allow fans to "hang out" inside The Beatles' Yellow Submarine while the album plays in the background, for instance. Contemporary artists will be able to design VR experiences to accompany their releases. Despite the high-tech approach, Dueñas says he wants users to be able to get a homespun feeling of "sitting around a stereo or record player and smoking a joint and drinking a beer with friends and listening to your favorite album."

ViRvii's continuous VR world will immerse fans into albums

Formed in 2019 and now with a staff of 30, the L.A.-based startup recently announced a partnership with Facebook and its Oculus VR subsidiary.

Splashmob gives performers control of their audience's cell phone screens. They can preprogram the screens of anyone who opts in with features like polls, audiovisual media to accompany the main show, and merchandise sales portals. The screens can also be controlled in real-time, not unlike an effects technician manipulating phone screens rather than lights and sound.

Founder Blaise Thomas was formerly a sound engineer in London, where his work in recording studios and live performances got him thinking about how to enhance concerts, whether in-person or streamed.

Splashmob's control panel gives performers the power to curate audience members' phone screens

"The flashlight on the phone is all well and good," Thomas says, "but how far can that go?"

Splashmob has collaborated with Dani Van de Sande and her L.A. startup, ULO, which along with Splashmob and Strangeloop was part of the 2020 Techstars Music cohort.

"Imagine you're wandering around Melrose Avenue on your way to dinner," Van de Sande writes, "and out of the corner of your eye you spot a bright, iridescent light. It looks otherworldly, like something from another universe."

These cocoon-like walk-in installations, called ULOs ("unidentified landing objects"), offer immersive, interactive experiences for the adventurous souls who enter. ULO plans to dot them around city-scapes.

"We're another avenue where artists can do something beyond releasing a video – by creating an experience for people," says Van de Sande, who formerly worked on augmented reality at L.A.-based Snap.

The Pandemic Has Changed the Music Industry Forever. Meet the LA Music-Tech Startups Poised to Reshape It. StillVika

These new visually oriented channels for sharing music may help to shrink the gap between the ear and the eye that Spotify founder Daniel Ek often invokes when he describes the growth potential for his company. Why, he has publicly wondered, is the total video market worth around 10-times more than audio, even though consumers spend about equal time with each?

Get a Side Gig

Cameo offers anybody with over 20,000 Instagram followers the opportunity to build a profile on its platform and set a price for which they will record a personalized video message. The company was formed in Chicago, but its chief executive Steven Galanis recently moved to L.A. With his move, Cameo's center of gravity has shifted.

"L.A. is the best place for me to be for Cameo right now," Galanis recently told dot.LA. "I've been focused on being the tech company to work for in Chicago and I think that's mission accomplished in many ways. Now my objective is to make Cameo that place in L.A."

L.A. was once the destination for artists with a guitar case and a dream. Now, many of them can pursue those dreams from home. Music-tech companies, however, are flocking in.

"It's not an accident that Techstars Music is in L.A.," says Bob Moczydlowsky, who runs the accelerator, which recently opened its 2021 cohort application, with an emphasis on attracting a diverse candidate pool. Moczydlowsky attributes L.A.'s centrality in this flourishing wave of music and tech innovation to two main factors. First is the access to an ecosystem of artists, managers, labels and touring companies. Second is the venture money in Silicon Valley.

"L.A. is less than an hour from the money and down the street from the culture," he says.

The growing entrepreneurial energy in L.A. looks set to provide Angelenos a front-row seat to a new, lasting stage for entertainment technology innovation.

---

    Sam Blake primarily covers entertainment and media for dot.LA. Follow him on Twitter @hisamblake and email him at samblake@dot.LA

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    Salt AI’s $3M Bet, Snapchat’s Creator Cash, Rivian’s EV Tech, and ŌURA’s $200M Win

    🔦 Spotlight

    Happy Friday, LA - let’s dive right in to this week’s highlights:

    Salt AI, a forward-thinking AI startup based in Los Angeles, has secured a $3 million seed funding round led by Morpheus Ventures with participation from Struck Capital, among others, to tackle the complexity of managing workflows.Salt AI's blog details how its platform centralizes tools like CRM systems, project management software, and data trackers into one interface, eliminating inefficiencies and freeing up teams to focus on meaningful work. With new funding in hand, Salt plans to scale its platform and expand its reach, a move that underscores how AI can solve everyday business challenges.

    Image Source: Salt AI - Aber Whitcomb

    While Salt AI focuses on the workplace, Snapchat is doubling down on creators, with its latest updates introducing revenue-sharing opportunities and direct monetization features. The company’snewsroom update outlines how enhanced analytics will help creators better understand their audiences and sustain their work. The platform's latest updates introduce revenue-sharing opportunities and direct monetization features, along with analytics that give creators deeper insights into their audience. By making it easier for creators to grow and sustain their work, Snapchat positions itself as a key player in the creator economy, offering features that rival platforms like YouTube and TikTok.

    Image Source: Snap

    On the roads, Rivian is redefining what it means to drive an electric vehicle. The company’s latest software update includes advanced route planning, energy management tools, and customization options that make every trip more intuitive and efficient. Additionally, Rivian has introduced new entertainment features, including Google Cast, YouTube, and SiriusXM, as featured in Rivian’ssoftware spotlight, enhancing the in-cabin experience for drivers and passengers alike. This isn’t just about convenience; Rivian is showing how thoughtful software design can elevate the entire EV experience, blending practicality with sophistication.

    Image Source: Rivian

    ŌURA is making headlines with a fresh $200 million Series D funding round, with participation from Fidelity Management & Research Company and Dexcom, which now values the company at $2.55 billion. This investment, as reported byBusiness Wire, highlights the growing demand for wearable health technology and positions ŌURA as a leader in the space. With its sleek design and emphasis on actionable health insights, the funding will enable ŌURA to expand its reach and further integrate wearables into daily health management, strengthening its position in the competitive health tech market. With this funding, ŌURA aims to reach more users and expand its capabilities, further embedding wearables into daily health management.

    Image Source: ŌURA

    Stay tuned as Salt AI, Snapchat, Rivian, and ŌURA continue to evolve, offering us new ways to work, connect, and live better.

    🤝 Venture Deals

      LA Venture Funds
        • Undeterred Capital participated in a $7M Seed funding round for Portal, a Watertown, Mass.-based biotech company specializing in advanced intracellular delivery technology to drive innovations in biological research and cellular therapeutics. - learn more
        • Vamos Ventures participated in a $7.9M Series A funding round for Culina Health, a Hoboken, NJ-based company that provides personalized, science-based virtual nutrition care by connecting patients with registered dietitians, with plans to use the funds to expand its offerings for dietitians and patients, implement AI-driven tools to enhance care efficiency, and strengthen its leadership team through key hires. - learn more
        • Humans Ventures participated in a $3.8M Seed funding round for Hamming.ai, a San Francisco-based company specializing in automated tools for testing and optimizing voice agents, with plans to expand its platform, enhance reliability and perform, and accelerate product development. - learn more
        • Fifth Wall led, with participation from Starshot Capital and others, in a $9.5M Series A funding round for Mojave, a Sunnyvale, CA-based company developing energy-efficient commercial air conditioning technology. The funds will be used to accelerate the adoption of its innovative systems and reduce energy consumption in the cooling industry. - learn more
        • ReMY Investors participated in a $17M Series B funding round for Scripta Insights, a company that leverages data analytics to help employers and healthy plans reduce prescription drug costs, with the funds aimed at expanding its platform and scaling operations. - learn more
        • Mantis VC participated in a $16.5M funding round for Nuon, a company specializing in Bring Your Own Cloud (BYOC) solutions that streamline AI, data, and infrastructure software deployment. The funds will support product development, readiness for general availability in 2025, and efforts to expand customer acquisition. - learn more
        • B Capital participated in a $102M Series C funding round for Precision, a company developing minimally invasive brain-computer interfaces to treat neurological disorders, with plans to use the funds to expand its team, advance clinical research, and refine its AI-powered brain implant for helping users with severe paralysis operate digital devices using their thoughts. - learn more
        • The Games Fund led a $3M Seed funding round for Dark Passenger, a Poland-based game studio founded by veterans of The Witcher 3 and Cyberpunk 2077, to create an unannounced, innovative, first-person multiplayer PvPvE stealth-action game set in a distinctive universe inspired by feudal Japan and martial arts cinema. - learn more

            LA Exits

            • Calliope Networks, a generative AI company providing licensed media content like movies, TV shows, and news, has been acquired by Protege to strengthen its platform’s capabilities in advancing AI development. - learn more

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                Momentum in Motion: IPOs, Partnerships, and Innovation

                🔦 Spotlight

                Happy Friday, Los Angeles!

                Last week, we dove into some of the major moves shaping LA’s tech scene, from ServiceTitan’s IPO ambitions to Anduril’s AI advancements. This week, the story continues with new milestones and updates that reveal how quickly the landscape is evolving. Here’s what’s happening now:

                ServiceTitan’s IPO: A Fintech Spark

                ServiceTitan’s initial public offering has proven to be a resounding success.The Glendale-based company priced its IPO at $71 per share, significantly above the anticipated range of $52 to $57. On its first trading day, shares opened at $101 and closed at $101.20, marking a 43% increase and valuing the company at nearly $9 billion. This impressive debut underscores ServiceTitan’s growing influence in the trades software space and signals a potential trend for other fintech leaders to watch closely. Read more about ServiceTitan's IPO success here.

                Anduril Industries: Expanding the Horizon

                We recently covered Anduril’s groundbreaking partnership with OpenAI, emphasizing the growing role of AI in defense. This week, Anduril continues to make headlines with new developments and collaborations that underscore its commitment to reshaping national security and autonomous technology:

                • Partnership with Palantir:Anduril and Palantir are teaming up to accelerate AI capabilities in defense. Together, they aim to integrate Palantir’s advanced data analytics with Anduril’s autonomous systems, creating a platform capable of delivering actionable intelligence in real time. This partnership is expected to enhance battlefield decision-making, reduce operational risks, and maintain U.S. leadership in defense technologies. Read more about the partnership here.
                • Dive XL Autonomous Submarine: Anduril’s Dive XL submarine is setting new standards for maritime autonomy. This long-endurance unmanned vehicle can operate in harsh underwater environments for extended periods, providing capabilities for intelligence gathering, surveillance, and reconnaissance. With its modular design, Dive XL supports a range of payloads, making it a versatile asset for maritime security. Learn more about Dive XL here.
                • Archer VTOL Aircraft Partnership: Anduril’s collaboration with Archer Aviation is pushing the boundaries of autonomous flight technology. This partnership leverages Archer’s expertise in vertical takeoff and landing (VTOL) aircraft to complement Anduril’s advanced defense systems. By integrating Anduril’s cutting-edge AI capabilities with Archer’s innovative designs, the companies aim to create next-generation solutions for tactical military operations. This partnership reflects a shared commitment to innovation and positions both companies as leaders in reshaping the future of aerial defense. Details about the partnership are available here.

                Writers Guild Challenges AI in Hollywood

                The Writers Guild of America (WGA) continues its efforts to address the growing influence of AI in entertainment. In recent negotiations, the Guild has pushed for clear boundaries on the use of generative AI in scriptwriting, emphasizing the need to protect writers’ rights and creative integrity. As the industry grapples with the implications of this technology, the WGA’s stance highlights an ongoing effort to balance innovation with fairness in Hollywood. Read more about the Guild’s actions here.

                Our thoughts are with the residents of Malibu as they face wildfires fueled by Santa Ana winds, which have displaced many and disrupted communities, including Pepperdine University. For resources during emergencies, explore ourguide to the top tech apps for natural disasters, highlighting tools to support preparation and safety.

                From tech breakthroughs to creative industry challenges, the region’s innovation engine shows no signs of slowing. As 2024 approaches, one thing is clear: the momentum isn’t slowing down.


                ✨ Featured Event ✨

                2024 PledgeLA Catalyst Awards

                Image Source: Instagram: PledgeLA

                Catalyst Awards to Honor Inspiring Entrepreneurs and Emerging Managers in Venture Capital, Catalysts Improving Access to Capital Across Los Angeles

                PRINCIPALS AND HOSTS: The Annenberg Foundation and PledgeLA, the initiative launched in 2018 by the Annenberg Foundation and the City of Los Angeles to promote equity and increase access to capital for L.A.-based startups and investors from underrepresented backgrounds.

                WHEN: Wednesday, December 18, 2024 at 5:30 p.m. PST.

                WHERE: Register to See Address Los Angeles, California

                RSVP HERE

                🤝 Venture Deals

                  LA Venture Funds
                    • Alpha Edison led a $27M Series A funding round, joined by Acre Venture Partners, ReMY, among others, for One Bio, a UC Davis spinoff based in California that is developing biotech solutions to bridge the dietary fiber gap, with plans to scale production and expand its product offerings. - learn more
                    • Gideon Strategic Partners participated in a $110M Series C funding round for Capstan Medical, a Santa Cruz-based company developing robotics technology for heart disease treatment, with the funds aimed at advancing clinical trials and preparing for commercialization. - learn more
                    • Riot Ventures led a $10.1M Seed funding round for Deterrence, a company developing automated solutions for energetics production, including explosives and propellants, with participation from Impatient Ventures and others, to scale its technology, improve manufacturing efficiency, and meet growing industry demands. - learn more
                    • Chapter One Ventures participated in a $12M Series A funding round for Hyperbolic, a San Francisco-based AI company specializing in predictive analytics for supply chain optimization, with plans to use the funds to enhance its technology platform and expand its team. - learn more
                    • Blue Bear Capital participated in a $35M Series C financing round for Raptor Maps, a Boston-based company that provides software solutions for solar asset management. The funds will be used to enhance their AI-driven platform, expand global operations, and support the growing needs of the renewable energy industry. - learn more
                    • Behind Genius Ventures and Night Ventures, among others, participated in a $3M Pre-Seed funding round for Moldco, a Boston-based company providing digital, evidence-based care, treatments, and lab testing to help individuals reclaim their health from mold toxicity, with plans to use the funds to expand operations nationwide in 2025. - learn more,
                    • Regeneration.VC co-led a €8M Series A funding round for Orbisk, a Netherlands-based company that develops AI-powered food waste monitoring systems for the hospitality industry, with plans to use the funds to expand internationally and enhance their technology platform - learn more
                    • Mucker Capital participated in a $17M Series A funding round for Ask Sage, an Arlington, VA-based company offering a generative AI platform for government and commercial sectors, with plans to use the funds to expand its AI capabilities, drive growth, and increase its workforce. - learn more
                    • Magnify Ventures participated in a $8M Series A funding round for MiSalud Health, digital health platform offering affordable, same-day bilingual telehealth consultations in Spanish and English to better serve Hispanic communities in the U.S. and Mexico. With a focus on improving access for Spanish-speaking individuals, the company aims to address the growing demand for culturally and linguistically appropriate healthcare solutions as the Hispanic population continues to expand rapidly in the U.S.. - learn more

                      LA Exits

                      • Elios Vision, a company specializing in innovative glaucoma treatment technologies, has been acquired by Bausch + Lomb to strengthen its portfolio in addressing the needs of glaucoma patients. The acquisition brings Elios Vision's cutting-edge solutions into Bausch + Lomb's comprehensive eye health offerings, expanding its capabilities to provide advanced care for this critical condition. - learn more
                      • OceanX, a provider of subscription-focused fulfillment and logistics solutions, has been acquired by Cart.com to enhance its end-to-end e-commerce platform and expand its capabilities in subscription management and order fulfillment. - learn more

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                        Mars, Money, and Makeovers : LA’s Big Week

                        🔦 Spotlight

                        Happy Friday, LA!

                        This week has been full of energy in LA’s tech world, with some big moves that are hard to ignore. From a local company going public to bold partnerships and exciting projects, here’s a look at the stories driving conversations and shaping what’s happening right now.

                        ServiceTitan's IPO Ambitions

                        Image Source: ServiceTitan - Cofounders Ara Mahdessian & Vahe Kuzoyan

                        ServiceTitan, a Glendale-based software leader for tradespeople like plumbers, electricians, and HVAC technicians, is gearing up for a major step forward: its initial public offering. The company plans to offer 8.8 million shares priced between $52 and $57, targeting a valuation of up to $5.16 billion. Trading under the ticker “TTAN” on the Nasdaq, ServiceTitan’s IPO is backed by financial heavyweights Goldman Sachs and Morgan Stanley. ServiceTitan’s software simplifies essential tasks such as scheduling and payments for trades professionals, providing much-needed solutions in an industry frequently underserved by technology. The IPO reflects both the company’s rapid growth and a broader trend of integrating advanced tools into foundational industries.

                        SpaceX: Shooting for the Stars (and $350 Billion)

                        Image Source: SpaceX

                        SpaceX is on the verge of solidifying its place as the world’s most valuable startup, with insiders estimating a valuation of $350 billion, according to Forbes. It’s not just about rockets anymore; this company has its sights on global internet domination with Starlink and a future where Mars isn’t just science fiction. Investors are clearly betting big on SpaceX’s ability to pull off the impossible—time and time again. The company’s achievements not only redefine the limits of private enterprise but also establish SpaceX as a key player in reshaping humanity’s relationship with space. For the LA tech scene, SpaceX’s valuation is more than a number; it’s a reminder of what’s possible when ambition meets execution. The question isn’t “what’s next?”—it’s “what’s not?”

                        Anduril x OpenAI: The Future of AI Defense

                        Image Source: Anduril

                        In a move that underscores the rapid convergence of defense and cutting-edge AI, Costa Mesa-based Anduril Industries announced a partnership with OpenAI. This collaboration aims to bolster U.S. leadership in artificial intelligence while enhancing national security capabilities. Anduril, known for its autonomous defense technologies, is leveraging OpenAI’s advanced AI systems to supercharge its offerings. The implications? Think faster decision-making and smarter tech on the battlefield. This partnership not only signals Anduril’s commitment to innovation but also highlights the growing importance of AI in reshaping defense.

                        The Rose Bowl Legacy: Preserving an Icon

                        Image Source: VisitPasadena

                        The Rose Bowl, Pasadena’s iconic stadium and a symbol of Southern California’s rich history, is gearing up for an $80 million transformation as part of its "Lasting Legacy Campaign." This effort isn’t just about preparing for the 2028 Olympics—it’s about enhancing the fan experience while staying true to the venue’s historic roots. From new field-level club seats to a cutting-edge videoboard, upgraded Wi-Fi, and even a refurbished marquee sign, this project balances nostalgia with modern innovation. The Rose Bowl has always been more than just a stadium—it’s a cultural landmark that represents LA’s ability to honor its past while embracing the future. If there’s a place that embodies where history meets progress, it’s here.

                        2024 Wrapped: Your Year in Music

                        Image Source: Spotify

                        As the year winds down, music lovers are diving into Spotify Wrapped and Apple Music Replay 2024. These features don’t just highlight our favorite tracks; they showcase how deeply music integrates into our daily lives and memories. For anyone in the tech or startup world, these features are a masterclass in how data-driven personalization can deepen user loyalty and turn casual interactions into powerful engagement.

                        Whether it’s setting the stage for the next space frontier, advancing national security with AI, or revitalizing a cultural landmark, this week’s stories remind us that progress is as much about preserving what matters as it is about reaching for what’s next.


                        🤝 Venture Deals

                        LA Companies

                        • Nectir, an educational technology company that allows educators to design customized AI teaching assistants providing students with 24/7 personalized support, has raised a $4M Seed funding round led by Long Journey Ventures to develop new features and expand its team. - learn more
                        • Talus Network, a blockchain platform merging AI and decentralized tech to create smart agents, has raised a $6M Strategic funding round led by Polychain Capital at a $150M valuation to advance its ecosystem, including Protochain, Nexus, and an AI dating app. - learn more
                        LA Venture Funds
                        • Plus Capital participated in a $35M Series B funding round for Sage, a New York-based company specializing in senior living operations, to enhance its technology platform and expand its services across the U.S. and internationally - learn more
                        • Supply Chain Capital led a $4.5M Seed funding round for Celleste Bio, a cocoa tech company specializing in cell-cultured cocoa production, to scale its manufacturing capabilities and accelerate sustainable cocoa innovation. - learn more
                        • Village Global co-led a $5.75M Seed funding round for Across AI, a San Francisco-based startup developing AI-driven enterprise solutions, to accelerate product development and expand its team. - learn more
                        • M13 led a $5.4M Seed funding round for Cat Labs, an Austin-based startup focused on combating crypto and AI-enabled crime, with the funds being used to develop tools and services that address digital asset security threats. - learn more
                        • Chapter One Ventures participated in a $4M Seed funding round for Fiamma, a Singapore-based startup focused on decentralized finance infrastructure, with the funds being used to develop innovative tools for secure and efficient on-chain lending. - learn more
                        • The Games Fund participated in a $3M funding round for Playgama, a gaming platform that simplifies the distribution and monetization of HTML5 games across various platforms; the investment will be used to enhance their Platform-as-a-Service ecosystem, including monetization, quality assurance, and management tools. - learn more
                        • Fika Ventures led a $6M Seed funding round for StretchDollar, a Pittsburgh and San Francisco-based fintech startup that simplifies health benefits for small businesses through a self-service platform; the funds will be used to enhance their platform and expand their team. - learn more
                        • OCV participated in a $27.6M funding round for OSSIO, a Woburn, Massachusetts-based medical device company specializing in bio-integrative orthopedic implants; the funds will accelerate commercial efforts, including new product development and establishing a manufacturing and training center in Florida. - learn more
                        • Avalaunch participated in a $6.5M Seed funding round for Avant, a Palo Alto-based decentralized finance protocol that issues a "stable-value" token called avUSD, to scale its crypto yield products. - learn more
                        • Rebel Fund participated in a $2.5M Seed funding round for Circleback, a San Francisco startup that uses AI to generate meeting notes and action items, integrating with platforms like HubSpot and Notion; the funding will support expansion and development. - learn more

                        LA Exits

                        • Of Kos, formerly VMed, a healthcare marketing agency specializing in digital and creative solutions, has been acquired by ONAR, a global network of marketing agencies, as part of its expansion into the healthcare marketing sector. - learn more
                        • Rhapsody Voices, a boutique podcast network representing leading content creators and offering tailored solutions for revenue growth through sponsorship representation, content creation, strategy, and marketing, has been acquired by Evergreen Podcasts. - learn more
                        • TEDIVO, a Long Beach-based software provider specializing in container supply chain tools like BAPLIE Viewer Online, has been acquired by Lynxis to enhance its port orchestration products and improve cargo management efficiency. - learn more

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