Openpath Announces $36 Million Raise to Make Keycards Obsolete in the COVID Era
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
Openpath, the L.A-based tech company trying to make keycards a thing of the past, announced Thursday that it has raised $36 million in its second institutional funding round. The deal, led by Greycroft, was finalized earlier this year. It takes the total funding Openpath has raised to $63 million, company co-founder and president James Segil told dot.LA.
Segil and his long-time business partner Alex Kazerani are a serial entrepreneur duo that set their sights on keycards about four years ago.
"Everything about these things sucks," Segil says, looking at a photo of the familiar, mostly white rectangles that scan many an employee into office buildings and elevators. The flaws he points to include the administrative work around printing, issuing and revoking keycards; the physical waste they create; and perhaps worst of all, that they're not very secure. Segil notes that keycards mostly rely on decades-old RFID technology rather than more modern encryption methods, and can be copied for a few bucks at the neighborhood Ralph's supermarket.
Openpath allows for touchless entry that leverages the supercomputers in most of our pockets and purses
Kazerani and Segil are betting that the supercomputer in most of our pockets or bags could be a much better option. They patented a "triple unlock" technology, wherein a door-sensor can establish a "handshake" with a mobile phone's cell, wi-fi or bluetooth signal. The receiver activates with a user's hand-wave, picks up one of the signals, discards the other two, and assesses whether the phone it's coming from belongs to somebody with the credentials needed to enter.
Segil says using all three signals helps the Openpath system to work 99.9% of the time.
And in the post-COVID world, Openpath's touchless entry system has become all the more useful. From work, retail, schools and churches, to gyms, hospitals, and doctors' offices, reducing the need to touch common surfaces will be a key element of readying spaces for people to return, Segil says. He adds that interest has grown during the pandemic.
The system can also enforce safety protocols — for instance, by suspending someone's entry credentials if they fail a health attestation, or controlling occupancy by limiting the number of people that can enter a room.
In addition to doors, Segil notes, Openpath's technology can also work for parking lots, elevators, turnstiles, and lobby check-ins.
Openpath charges an upfront fee for hardware and installation, then a recurring subscription fee for the cloud-enabled software. Pricing depends on the number of doors and number of users.
And, Segil notes, if your phone dies or you forget it at home, you can still always knock.
From Your Site Articles
- Openpath Announces $36 Million Raise - dot.LA ›
- Meet LA Tech Entrepreneurs James Segil and Alex Kazerani: - dot.LA ›
Related Articles Around the Web
Subscribe to our newsletter to catch every headline.
Minutes into filling out my absentee ballot last week, I was momentarily distracted by my dog Seamus. A moment later, I realized in horror that I was filling in the wrong bubble — accidentally voting "no" on a ballot measure that I meant to vote "yes" on.
It was only a few ink marks, but it was noticeable enough. Trying to fix my mistake, I darkly and fully filled in the correct circle and then, as if testifying to an error on a check, put my initials next to the one I wanted.
Then I worried. As a reporter who has previously covered election security for years, I went on a mini-quest trying to understand how a small mistake can have larger repercussions.
As Los Angeles County's 5.6 million registered voters all receive ballots at home for the first time, I knew my experience could not be unique. But I wondered, would my vote count? Or would my entire ballot now be discarded?
<p>There are reasons enough to worry about mail-in-ballots counting, even without the appearance of fake ballot boxes and the unfounded rhetoric that has filled the nation's airwaves over the last months. After all, much of the information I found online told me to notify a poll worker if I made an error. Alas, no poll worker at home.</p><p>"I don't think your experience is unique, and it's exacerbated by how big L.A. is," said Eddie Perez, election administration and technology expert with the nonpartisan, nonprofit <a href="https://www.osetfoundation.org/" rel="noopener noreferrer" target="_blank">OSET Institute</a>. "These experiences are happening across the country [as] many voters are voting by mail the first time and they don't know what to do. It's a microcosm of all of this change."</p><p>Part of the problem was that I didn't receive my sample ballot beforehand and so didn't engage in the practice round I typically do. Worse though, the instructions that came with my ballot said nothing about what to do if you accidentally make the wrong choice. The only advice is to call a phone number or go online and request a new ballot. Does that mean the whole thing won't count? But it was such a small mistake.</p><p>"That's a failing right there, the fact that they didn't include it on the instruction sheet," said Perez, who previously worked for Hart Intercivic, voting technology company, and has made thousands of ballots in his career. He noted that in Colorado, the instructions for how to correct a mistake are on the ballot instructions.</p><p>I called the phone number, but couldn't get through to a person. I then sent an email to a recommended public address asking if my ballot was "spoilt" and if I needed a new one.</p><p>Then, for hours into the night and through early the next morning I searched the vastness of the internet for an answer.</p>
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDUxMjgwOS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYxODEyMTM1NH0.eGBNQueLJopk_XhIaWqmpFPgnsHuEk1qVeQmRMH-DY4/image.jpg?width=980" id="3663d" class="rm-shortcode" data-rm-shortcode-id="3a4af8f33f024f411c8cfef27e2678a1" data-rm-shortcode-name="rebelmouse-image" />
My distractingly sweet dog, Seamus.
Photo by Tami Abdollah
<p>Someone <a href="https://www.kvue.com/article/news/investigations/defenders/can-i-correct-a-mistake-on-my-mail-in-ballot-with-wite-out/269-3f248b3a-ee4d-41ec-94bd-a0af4a8670d3" target="_blank">asked about whether you could use whiteout</a> to blot out the mistaken choice. The consensus online seemed to be "no" that the ballot could seem tampered with. One <a href="https://www.washingtonpost.com/blogs/all-opinions-are-local/wp/2018/01/02/its-an-invalid-ballot-period/" target="_blank">Washington Post opinion article from 2018</a> argued that any efforts to rectify a ballot should invalidate it entirely. <a href="https://www.kqed.org/news/11840343/how-to-make-sure-your-mail-in-ballot-isnt-rejected-in-california#mistake" target="_blank">Another recent article by KQED said</a> that you should put a line or X through the wrong choice and that would be fine. Sadly, I'd already made a different mark by the proper choice. I read <a href="https://www.marketwatch.com/story/4-common-mistakes-that-could-get-your-mail-in-ballot-rejected-and-how-to-make-sure-your-vote-is-counted-11601579628" target="_blank">stray marks can also be a problem</a> and invalidate the ballot. Are initials considered stray marks?</p><p>Kim Alexander, president of the nonprofit, nonpartisan California Voter Foundation, empathized, noting that "vote by mail shifts the responsibility of getting it right from poll worker to a voter, and that's a big change. It's not insignificant" or easy, and the rules usually differ between counties.<br></p><p>The next morning I called the L.A. County Registrar-Recorder/County Clerk's helpline and was connected to a worker whose garbled voice seemed to match my emotions. I presented my dilemma.</p>
<p>"Hmmm it doesn't say anything about that here," the worker told me. "I'll have to put you on hold."<br/></p><p>After several more minutes of terrible hold music, she told me her connection was bad because she was working from home, and she would call me back. It didn't happen.</p><p>When I called the registrar's office back, I was told there was a 35 minute wait for a human being.</p><p>The worker who called me back told me that the specific measure I improperly filled out would not get counted, but the remainder of my votes should. I asked if my initials would present as stray marks and invalidate my ballot, and she said it shouldn't.</p><p>Over the course of those two days, I wondered if it was best to get the ballot sent in early even if one measure didn't count, or if I should just go vote early in-person.</p><p>Because Los Angeles County ballots go through an optical scanner, I wondered whether a human being would review the ballot or if any discrepancy is tossed. There is little reporting about how the county handles mail-in ballots, especially at scale. Is there a human being who reviews the process? A bipartisan team? How technically savvy is the scanner and what exactly can it differentiate?</p><p>The registrar's office never replied to repeated official calls and emails for answers to those questions.</p><p>Perez, the elections expert, told me that in his experience a mistake should not invalidate the entire ballot and that most modern digital scanning technology "should flag contests with questionable marks and present them to human reviewers" who can discern the voter's intent and make sure it's properly recorded.</p><p>Both Perez and Alexander also introduced another potential wrinkle I had not even thought about: In some states having personally identifiable information on a ballot — possibly like my initials — could invalidate the ballot because state laws could see that personal information as a violation of the secrecy of the ballot. Ack!</p><p>Perez said part of the problem with mail-in ballots is that unlike the traditional Election Day infrastructure, unless election officials make proactive efforts to provide more details, there is less knowledge about how votes are processed and counted when they are mailed in.</p><p>"It places a really big burden on the election officials [to] have resources to answer all these questions," Perez said. "How are you ensuring you have good factual information and you're passing it to all the worker bees you just hired?"</p><p>Neither Perez nor Alexander could say for sure what would happen with my initials on the ballot. Both thought it <em>should </em>probably be fine, but perhaps it would violate vote secrecy.</p><p>"You stumped the band," said Alexander, who added she was considering updating their own FAQ for voters.</p><p class="shortcode-media shortcode-media-rebelmouse-image">
<img type="lazy-image" data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDUxMjgxNC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY2NjQzNTgwOX0.SiflyT6B6FbAoPLrIrMVk01oeGw7_HIsZS7b4jQc7Lc/image.jpg?width=980" id="ef35d" class="rm-shortcode" data-rm-shortcode-id="54ab7d5c08029f153009ed6bc7ef15cd" data-rm-shortcode-name="rebelmouse-image" />
<small class="image-media media-caption focus-visible" data-focus-visible-added="" placeholder="Add Photo Caption...">My sadly imperfect ballot.</small><small class="image-media media-photo-credit" placeholder="Add Photo Credit...">Photo by Tami Abdollah</small></p><p>There are many more ways to make a mistake when mailing in your ballot, in one fashion or another. <a href="https://apnews.com/article/a45421048cd89938df7c882891a97db5" target="_blank">The Associated Press reported</a> this summer that "more than 100,000 mail-in ballots were rejected by California election officials during the March presidential primary." Among those were 27,525 which didn't have a signature or didn't have a signature match the one on record. A friend of mine was one of those, and she trekked out to vote early and in-person because she couldn't recall what her on-file signature looked like.<br/></p><p>I had no issues with my signature, it's been the same for decades, but I felt a little bereft over my supremely non high-tech problem. I continued to cull through the interwebs.</p><p>It was only much later, after searching diligently online by various keywords, that I stumbled upon a seemingly definitive answer in the latest version of <a href="https://www.sos.ca.gov/elections/uniform-vote-counting-standards" target="_blank">California's Uniform Vote Counting Standards</a>. It turns out, whiteout, check marks, X marks and even writing "no" or "yes" can help confirm the vote you meant to cast. It's unclear what the optical scanner can do or whether the county has a human involved in the process though. And there was, sadly, nothing about whether initialing a choice would invalidate the secrecy of my ballot or be considered an invalid "random marking."</p><p>My angst was alleviated when the decision was taken out of my hands. The registrar's office emailed me back, and without answering my question about if the ballot would have been counted, they told me a new one would arrive in five days.</p><p>The reply did open up a whole new line of unanswered questions. I mean, is the existence of a second ballot invalidating? I emailed back: "What happens to my old ballot? How do I get rid of it?"</p><p>(The first ballot is automatically suspended to issue a second one, I later learned. And you can tear it up or put it through a paper shredder.)</p><p>And still, the question remains — what if I had mailed in that ballot.</p><p>Alexander also went down the rabbit hole with me, emailing me on a Saturday morning that she "woke up annoyed by our collective inability to answer" the question. She dug around and found that a <a href="https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=201120120SB183" rel="noopener noreferrer" target="_blank">2011 California law known as the "Doodle Law"</a> would have likely been applied in my case. <a href="http://www.leginfo.ca.gov/pub/11-12/bill/sen/sb_0151-0200/sb_183_cfa_20110824_171242_asm_floor.html" rel="noopener noreferrer" target="_blank">It states</a> that rather than reject a ballot that is marked in a way to identify a voter, that election workers separate and duplicate the ballot (without the problematic identifier) like for other defective ballots, before running it through the scanner.</p><p>So there it is, my vote would have probably counted if I had mailed in my ballot. But now I'll be sending a brand new on instead. In the end, it's clear that the state and local authorities have tried and are trying their best to ensure that all mail-in ballots count regardless of very normal human mistakes (see <a href="https://dot.la/voting-by-mail-tips-how-to-avoid-pitfalls-2648194341.html" target="_blank">this sidebar</a> on how to up those chances).</p><p>But my takeaway lesson from all this is that it's probably <a href="https://dot.la/voting-by-mail-tips-how-to-avoid-pitfalls-2648194341.html" target="_blank">best not to make a mistake in the first place</a> when voting by mail, oh, and maybe put your dog in a separate room while you vote.</p><p><em>___</em></p><p><em>Hit me up if you have any other election and voting-related questions. My DMs are open on </em><a href="https://twitter.com/latams" rel="noopener noreferrer" target="_blank"><em>Twitter @latams</em></a><em> You can also email me at tami(at)dot.la, or ask for my contact on Signal, for more secure and private communications.</em></p>Related Articles Around the Web
Read more
Show less
GoodRx earned dot.LA's top 2020 Startup award on Wednesday, beating out the popular sneaker reseller GOAT, the meditation application Headspace, mobile gamer Scopely and viral-video app TikTok.
"GoodRx started in Los Angeles, and will always be a Los Angeles-based company," said co-CEO Doug Hirsch. "We're so excited about the support we've received over the last decade from both entrepreneurs and investors and just incredible people that make up the ecosystem here in California and specifically in Los Angeles."
<p>GoodRx was the first Los Angeles tech company to go public this year. It's mission to lower the prices of prescription drugs for Americans has made it one of the most-downloaded medical apps in the country. </p><p>"We're excited for the future and we appreciate the recognition," he said. </p><p>dot.LA wrapped up its inaugural Summit with the 2020 Startup Awards that honor the ingenuity and creativity propelling the startup scene in Southern California. More than 120 nominations were received from dot.LA's audience. The winners were chosen by a blue ribbon panel of judges, along with more than votes from the public. </p><p>Other winners included Entrepreneur of the Year, Tala CEO <a href="https://www.crunchbase.com/person/shivani-siroya" target="_blank">Shivani Siroya</a>, <a href="http://curative.com/" target="_blank">Curative</a> for Pivot of the Year, Blavity CEO <a href="http://www.morgandebaun.com/" target="_blank">Morgan DeBaun</a> for Rising Entrepreneur, <a href="https://www.openpath.com/" target="_blank">Openpath</a> for Rising Startup and Social Justice Award went to <a href="https://www.actoneventures.com/team-and-community" target="_blank">Act One Ventures partner Alejandro Guerrero</a>.</p><p>"We wanted to use this opportunity to shine a light on some of the most exciting, most driven and most world-changing people in companies in our world today," said dot.LA CEO Sam Adams. <br/></p>
Pivot of the Year: Curative Inc.
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDYyOTExNS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0MjU5MTI5NX0.pM73tZDRm3V9A5JyHu-R1NjWai-HOH7TuGI-Ga6P-lY/image.png?width=980" id="13389" class="rm-shortcode" data-rm-shortcode-id="267f3b38acca6bfb5532720fad230a8b" data-rm-shortcode-name="rebelmouse-image" /><p>Curative was founded earlier this year by Fred Turner, an Oxford dropout. His company was then based in the Bay Area and tested for sepsis before it pivoted to provide COVID testing. As the pandemic emerged, he established a lab in San Dimas with the help of local venture capitalists that would eventually become Curative's home base. The company's saliva- based tests now account for about 10% of all testing nationally and Curative has an exclusive deal with the city of Los Angeles to provide testing.</p><p>"On behalf of our CEO Fred Turner and everyone who just want to thank you," said Curative spokesman Pasqualle Gianna. As you know, we pivoted from sepsis testing to COVID testing." </p><p><strong>Finalists</strong></p><p><strong>Quantgene: </strong>The company typically offers AI-powered blood test systems for early cancer detection but now provides COVID testing and logistics for those going back to work. </p><p><strong>Swoop:</strong> The startup focused on group transportation but developed software that limousine charter operators and their suppliers, could utilize during the pandemic as regular business dried up.</p><p><strong>PRISM Bags:</strong> This company planned to launch their signature product, a woman's work bag but as the pandemic beared down created one suited that included mask pockets. </p><p><strong>WELL Health Inc.:</strong> Funded and engineered the Rapid Release Program in March '20, which allowed health systems to manage urgent COVID-19 patient communications at scale.</p>
Social Justice Award: Alejandro Guerrero
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDYyOTE4My9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYzODg3MDA5NH0.fQxq4punqafEMqsX3dMO9HXRclVmF30A1jttfz9oE7s/image.jpg?width=980" id="a7a8c" class="rm-shortcode" data-rm-shortcode-id="9b45abeacaa70b07c0267c0b4ac201b2" data-rm-shortcode-name="rebelmouse-image" /><p>More than 20 VCs have signed onto to Act One Ventures partner Alejandro Guerrero's <a href="https://dot.la/diversity-in-venture-capital-2647102305.html" target="_blank">Diversity Rider Initiative</a>.</p><p>The firms have pledged to add language in term sheets submitted to startups that they will make their "commercial best efforts to offer and make every attempt to include as a co-investor in the financing" at least one Black check writer or other underrepresented group."</p><p>Guerrero is the child of Mexican immigrants who said he often found he was the only person of color in the room when investment deals north of six figures were being made. He said he was inspired by the George Floyd protests and the push the industry to recognize long-standing inequities.<span></span><br></p><p><strong>Finalists</strong></p><p><span></span><strong>Candace Walker, Co-Founder of Just US app</strong>: Created a hands-free voice control app that notifies your designated contacts when you've been stopped by police.</p><p><strong>Derek Smith, Founder of Plug-In South LA</strong>: Created a tech startup community and accelerator program for entrepreneurs from under-represented backgrounds; produced the Urban Tech Connect conference.</p><p><strong>Lolita Taub, Co-Founder and GP at The Community Fund</strong>: First-generation Latinx operator and investor that launched a $5 million early-stage fund to invest in community-driven companies.</p><p><strong>Miki Reynolds, Executive Director, Grid110</strong>: Leads a no-equity, LA-based accelerator for underrepresented founders</p>
Rising Entrepreneur: Morgan DeBaun
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDYyOTE5My9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYwNjE2MzEyMn0.-Snvn1-Ba9IARx0fhjR2Y8KWxIw-32c3_pD2w2aiM70/image.png?width=600&coordinates=49%2C0%2C49%2C0&height=600" id="17428" class="rm-shortcode" data-rm-shortcode-id="835305e0ba6360729fece3121835b003" data-rm-shortcode-name="rebelmouse-image" /><p>Morgan DeBaun is the founder and CEO of Blavity Inc., a leading news company and media brand for Black millennials and Gen Z. The outlet has been a leading voice for diversity. She launched Blavity in 2014; it now reaches over 30 million millennials a month. </p><p><strong>Finalists</strong></p><p><strong>Cristina de la Peña</strong>, CEO & founder of Synapbox</p><p><strong>Jessica Nouhavandi</strong>, co-CEO of Honeybee Health</p><p><strong>Ksenia Yudina</strong>, CEO of UNest</p><p><strong>Robert Luo</strong>, CEO & founder of Mi Terro</p>
Rising Startup: Openpath
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDYyOTE5NS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYwNDc1NDk4N30.eoL8XlFuNIPVukXQEgiF6qcUcvPKGJ0e4m97C1BYy3Y/image.jpg?width=980" id="b37fe" class="rm-shortcode" data-rm-shortcode-id="5821d2b30f5f8bef78c7e781f8e7508e" data-rm-shortcode-name="rebelmouse-image" /><p>The property-tech firm provides s touchless-entry activated by one's mobile device to doors, gates, elevators and lobby check-ins. </p><p>James Segil and Alex Kazerani co-founded Openpath in 2016 along with Chief Technology Officer Rob Peters, Chief Security Officer Samy Kamkar, and Chief Revenue Officer Phil Goldsmith.<br></p><p>The company recently raised $35 million and has seen their value proposition become all the more useful in the post-pandemic era.</p><p><span></span>"I'm incredibly honored and humbled to be here amongst so many great entrepreneurs and great companies here in L.A.," Kazerani said. "On behalf of about 450,000 Openpath users and our entire team, we really want to thank <a href="http://dot.la/" target="_self">dot.la</a>"</p><p><strong>Finalists</strong></p><p><strong>Pipe</strong>: A platform that offers non-dilutive financing to SaaS companies through an instant cash advance against the full annual value of software subscriptions. </p><p><strong>PlayVS</strong>: Connects online games with official school administration and branding, elevating Esports from hobby to school-sponsored activity.</p><p><strong>Outer</strong>: A direct to consumer outdoor furniture brand.</p><p><strong>Wave</strong>: An entertainment technology company that turns performers into digital avatars and puts them on virtual stages.</p>
Entrepreneur of the Year: Shivani Siroya
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDYyOTIyNC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYwNTAzODE0MH0.K-_u9V5IDY7KI8sWes70QQc9ciswIY_-Yw13fSsxGSY/image.jpg?width=980" id="51619" class="rm-shortcode" data-rm-shortcode-id="d71bd28ff9f08d1728227d1326c998f2" data-rm-shortcode-name="rebelmouse-image" /><p> Shivani Siroya is the CEO and founder at <a href="https://tala.co/" target="_blank">Tala</a>, a fintech company that offers microloans to people that often don't have a formal credit history. The company has extended $1 billion in microloans to 4 million customers in emerging markets and was last valued at $700 million. Siroya has been named one of Forbes' "40 under 40."</p><p><strong>Finalists</strong></p><p><strong>Alex Canter</strong>, CEO and co-founder of software company Ordermark</p><p><strong>Andrew Peterson</strong>, CEO and co-founder of Signal Sciences</p><p><strong>Doug Hirsch </strong>and<strong> Trevor Bezdek</strong>, co-founders and co-CEOs of GoodRx</p><p><strong>Imran Khan</strong>, fo-founder and CEO of Verishop</p>
Startup of the Year: GoodRx
<img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDYyOTI0Ny9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0NDEwMDYyNX0.6-l952IAHHCBtktsdktNPjD1Jei1TeSFy9Ij_3b71hE/image.jpg?width=980" id="e84f6" class="rm-shortcode" data-rm-shortcode-id="e7abea2960ef53726b8d60446a278b86" data-rm-shortcode-name="rebelmouse-image" /><p>The prescription-discount app GoodRx became one of the first Los Angeles tech companies to go public this year.</p><p>Co-founded by former Facebook executive Doug Hirsch and Trevor Bezdek, the Santa Monica company makes money by collecting fees from pharmacy benefits managers.</p><p>GoodRx is the most downloaded medical app in the United States and boasts 70,000 pharmacies on its platform. It's also profitable. The company earned $54 million in profit for the first six months ending in June, up from $31 million over the same time last year.</p><p>The company expanded into telehealth with the purchase of Heydoctor in 2019. </p><p><strong>Finalists</strong></p><p><strong>GOAT</strong>: Fast-growing global luxury shoe and apparel retailer.</p><p><strong>Headspace</strong>: A meditation app that recently raised $100 million in debt and equity.</p><p><strong>Scopely</strong>: A mobile video game company that acquired FoxNextGames from Disney in January. </p><p><strong>TikTok</strong>: The video-sharing platform was the top grossing app on iOS App Store globally in Q2 2020.</p>From Your Site Articles
Related Articles Around the Web
Read more
Show less
RELATEDEDITOR'S PICKS