Read Activision's Letter to Staff After Firing 20 Employees

Samson Amore

Samson Amore is a reporter for dot.LA. He holds a degree in journalism from Emerson College. Send tips or pitches to samsonamore@dot.la and find him on Twitter @Samsonamore.

Read Activision's Letter to Staff After Firing 20 Employees

Activision Blizzard addressed ongoing employee concerns over workplace culture in a letter to staff Tuesday, and said it disciplined 40 employees for inappropriate workplace behavior.

The letter was written by Blizzard's Executive Vice President for Corporate Affairs (and former U.S. Homeland Security adviser) Frances Townsend, who joined the company in March and sent it to employees via email the afternoon of Oct. 19.

Recently 20 Activision Blizzard employees were fired and 20 more were reprimanded following widespread accusations of sexual harassment and discrimination based on gender.


In a copy of the letter viewed by dot.LA, Townsend said Activision did find misconduct had taken place after conducting its own investigation, and claimed it disciplined the offenders accordingly.

Townsend also said the company has seen an increase in harassment and workplace culture-related reports in recent months, both new and from years ago, as people began to talk more openly about the issue. She promised increased investment in training resources and more transparency about the investigation process and its results.

Activision wouldn't disclose which employees were reprimanded or let go but Townsend said in the letter that Activision Blizzard management is encouraged to "not hesitate to terminate or discipline those who violate our policies and fail to contribute to a positive culture that treats all members of our team with respect."

In July, Activision employees walked out to protest the game publisher's misogynistic and allegedly harmful company culture.

The walkout happened a week after the state of California filed a lawsuit against Activision for discriminating against female employees and having a "frat bro" culture where sexual misconduct and outright harassment were accepted. The lawsuit noted that women accounted for only 20% of the game publisher's staff.

Last month the Securities and Exchange Commission launched its own investigation into Activision. The Wall Street Journal reported the investigation is looking into how the company handled allegations of discrimination and sexual harassment in the workplace.

Take a look at the letter in its entirety below.

Today, Activision Blizzard's Executive Vice President for Corporate Affairs Fran Townsend shared the following email update with our employees:

Everyone,

As one of the world's largest and most influential companies, our future depends on fostering a company culture where all feel safe and heard. That comes with the responsibility of earning our employees' confidence that, when they speak up, we'll do the right thing. We must earn our team's confidence that, when they speak up, they will be heard. I have been quietly listening over the last few months to your comments, concerns, and observations. I am grateful to everyone who shared their points of view – especially those who challenged us to do better. It's important to me that you know how seriously I take this, and how committed I am to the next steps we will take together. We are working tirelessly to ensure that, moving forward, this is a place where people are not only heard, but empowered.

We have a committed team dedicated to this work. However, in listening to feedback over the past several months it is clear to me that we need to do more, and with a renewed urgency. We have expanded our compliance team and have even greater initiatives already underway to enable meaningful improvements to our company's culture.

Working with Jen Brewer and the team, we have thoroughly evaluated our broader compliance, employee relations, and investigative procedures, including how we handle claims and communicate with the members of our team who are involved. And today, I would like to highlight our progress on all these goals, along with some changes to build a more accountable workplace and culture.

Among the input we have received, there have been several clear and actionable recommendations, from many of you and from our Ethics & Compliance team. Among them, three key themes emerged:

First, do not hesitate to terminate or discipline those who violate our policies and fail to contribute to a positive culture that treats all members of our team with respect.

Second, be transparent, not only about our investigations processes, but also about the actions we take.

Third, invest resources and people into ethics, culture, and training.

First, I wanted to give you a sense of the work we've been doing to investigate all claims and concerns raised by members of our team:

- Ongoing Investigations: Nothing is more important to me - and the entirety of Activision Blizzard leadership - than making sure everyone feels safe and equal in this workplace. There is no place for harassment, discrimination, or retaliation in this company.

In recent months, we have received an increase in reports through various reporting channels. People are bringing to light concerns, ranging from years ago to the present. We welcome these reports, and our team has been working to investigate them, using a combination of internal and external resources. Based on the information received in the initial report, they are assigned into different categories, and resources are allocated to prioritize the most serious reports first. In connection with various resolved reports, more than 20 individuals have exited Activision Blizzard and more than 20 individuals faced other types of disciplinary action.

We continue to look into any issues or reports raised through the many channels that are available. But it bears repeating: Reports can be submitted anonymously, and there is zero tolerance for retaliation of any kind.

Second, we have begun work to improve how we address complaints, including the restructuring of two teams, Ethics & Compliance and Employee Relations, to more efficiently and effectively handle the investigation of complaints.

- Ethics & Compliance Team Leadership: I am very happy to announce the promotion of Jen Brewer to Senior Vice President, Ethics and Compliance. Jen has already been skillfully guiding the compliance function for many years. More importantly, she has been instrumental in helping me to reimagine how our investigative, training, and employee relations functions can work better together, along with the resources those teams will need to make our company better.

- Way To Play Heroes: These are the Ethics & Compliance program's unsung heroes. They volunteer their time to build bridges – by helping fellow members of our team navigate their reporting options, championing speaking up, and advising us on how we can strengthen the Ethics & Compliance program. The Heroes are crucial to our success. We are expanding the program by adding more Heroes and investing resources to better support the work they do. I am pleased to announce that effective immediately, Heroes will receive one additional vacation day a quarter to recognize their contributions to this very important work.

- Investigation Team Resources: Ensuring we have the capability to properly look into reports is critical. In the past couple months, we have already added three full-time positions to address the workload. Moving forward, we plan to scale this significantly, adding 19 full-time roles to our overall Ethics & Compliance Team, which include team members dedicated to investigations, including the ability to take live calls, as well as data analytics and communications, to help us understand how we're doing and help us better convey results of our work. Two of those roles will be specifically dedicated to overseeing investigations related to the EMEA and APAC regions.

- Investigation Team Structure: We are combining our investigations groups into one centralized unit within a central ABK Ethics & Compliance Department, which will be separate from business units and other groups like Human Resources or Employee Relations. This will allow investigators to be more efficient and coordinated, aligned on approach, and enable consistent decision making. It also allows us to scale resources more appropriately versus considering how to allocate team members across disparate units.

- Employee Relations Team: Alongside improving how we investigate concerns or claims, we need to consider how best to communicate with members of our team affected by these issues. Working with Chief People Officer Julie Hodges, this will be a key focus for the Employee Relations team. This will allow us to better bridge our improved investigative process to a recommended action, whether it's discipline, additional training, or other next steps. Our goal is to broaden our team of individuals with considerable human resources experience, ensuring we handle complaints and concerns with the care and attention they deserve.

- Transparency: We are working on additional materials that document our investigative procedures and outline what members of our team who report misconduct can expect during the investigative process. We are also working to ensure communications are transparent and time sensitive for any members of our team involved in investigations. Even more, we want to provide data reporting so we remain accountable, even if we can't always share what is happening behind the scenes. We know there's a desire to know about the outcome when misconduct is reported. Sometimes, there are privacy reasons we can't share. But where we can, we will be sharing more information with you. We will also be providing you regular aggregate data about investigative outcomes.

- Improving Training: We are preparing to triple our investment in training resources. Our intent is to deliver meaningful, real-life, scenario-based live and online training required for all members of our team, including executives - covering bystander training, speaking up, and training managers to recognize concerns and understand their obligations to escalate situations urgently and appropriately.

We are committed to making meaningful and positive change, and this is just the start. We will be sharing additional updates in the coming weeks and months. We know there is always more work to do. We are committed to continuing that work. Please continue to share your ideas and suggestions, in whatever ways you want to send them. We will work hard every day to earn your trust and confidence. Together, let's ensure that we always have a safe, inclusive, and ethical workplace that makes us all proud.

Best,

Fran

https://twitter.com/samsonamore
samsonamore@dot.la
From Breaking Tech News to Backing It
Image Source: Sources

🔦 Spotlight

Hey there, Los Angeles.

For the past decade, Alex Heath has made a career out of figuring out what the technology industry is doing before everyone else.

Now, he is going to invest in it.

Heath announced this week that he is joining Los Angeles-based Sound Ventures as a partner on its investing team. The veteran technology journalist will continue independently operating Sources, the newsletter and podcast business he launched after leaving The Verge last year.

It is an unusual career move, but perhaps not as unusual as it initially appears.

Journalists and venture capitalists spend much of their time doing surprisingly similar work. Both look for signals before they become obvious, build relationships with people who know what is coming next and attempt to distinguish a lasting shift from a convincing story.

The crucial difference is what happens after they find one.

A journalist publishes. An investor writes a check.

Heath has spent years reporting on some of the technology industry’s most powerful companies and executives. At The Verge, where he served as deputy editor, his work focused on the internal decisions shaping companies such as Meta. More recently, Sources has taken readers inside the AI race through reporting and interviews with executives including Sam Altman and Mark Zuckerberg.

That experience gives Sound something venture firms increasingly want: someone who already understands the founders, companies and narratives competing to define the next era of technology.

Sound Ventures is not exactly starting from scratch. Led in Los Angeles by Guy Oseary and Effie Epstein, the firm manages nearly $2B and has backed companies including OpenAI, Anthropic, World Labs, Brex, Affirm and GitLab. According to The Wall Street Journal, Sound deployed more than $800M into early positions in OpenAI, Anthropic and World Labs as it intensified its focus on artificial intelligence.

Heath is joining during an important transition for the firm. Ashton Kutcher, who co-founded Sound with Oseary in 2015, departed earlier this year to launch a new venture firm. Oseary and Epstein are continuing to lead Sound while raising its fifth flagship fund and sharpening its strategy around companies with the potential to reach meaningful commercial scale.

Adding Heath suggests that Sound’s next phase will not be defined by capital alone.

As AI makes it faster and less expensive to build software, technical capability may become less effective as a differentiator. More startups will be able to create credible products, and more of them will compete for the same finite supply of customers, talent and attention.

In that environment, knowing how to identify a compelling founder is only part of the job. Venture firms also need to understand how companies earn trust, communicate what makes them different and remain culturally relevant in an increasingly crowded market.

That is familiar territory for Sound. Oseary built his career managing artists including Madonna and the Red Hot Chili Peppers, where recognizing talent was inseparable from helping that talent connect with an audience. Heath brings a different version of the same instinct, developed through finding important stories and understanding why people should pay attention to them.

Heath will continue owning and operating Sources independently while expanding its podcast and interviewing prominent voices across the technology industry. That means he is not abandoning the platform or audience he built. He is adding a new vantage point.

The combination could prove especially valuable to Sound. Heath brings the instincts of a reporter, the reach of an independent media founder and years of relationships with the people shaping technology. Now, he can apply that experience to finding and supporting the next generation of founders.

It is a fitting evolution for someone who has spent his career identifying important technology stories early.

This time, he will have the opportunity to help write what happens next.

Venture firms once competed primarily through capital, networks and operating expertise. Now, access to attention is becoming an asset of its own. Founders need help reaching customers and shaping public understanding, while investors want better ways to recognize which people and ideas will command that attention next.

Sound Ventures hired someone who has spent a decade doing exactly that.

Heath used to decide which technology stories were worth following.

Now, he will help decide which ones get funded.

More from this week’s LA startup and venture scene below.

🤝 Venture Deals

    LA Companies

    • Maven Robotics emerged from stealth with a $100M Series A and humanoid robots already operating in warehouse deployments. The company says its robots can work for 16 hours a day with 99% uptime and is positioning itself as a reliable alternative for businesses whose existing robotics providers fail to meet deployment targets. - learn more

    LA Venture Funds
    • Bedrock Capital participated in Mach Industries’ $600M Series C extension alongside Ribbit Capital, Infinite Capital and Sequoia, bringing the round’s total to $900M and doubling the defense startup’s valuation to $3.7B in three months. The Huntington Beach company manufactures lower-cost unmanned aircraft, strike weapons and counter-drone systems, while expanding into solid rocket motors and jet-engine production to address critical defense supply-chain bottlenecks. - learn more
    • U First Capital participated in Positron AI’s $875M funding round, which was co-led by NEA, Atreides Management, Valor Equity Partners, Andra Capital, SemiAnalysis Capital and Jim Clark, valuing the AI chip startup at $5B. Positron will use the capital to bring its memory-focused Asimov processor and Titan server system to market, offering an energy-efficient alternative to GPUs for running AI models. - learn more
    • WndrCo participated in Harvey’s $550M funding round, co-led by Diffusion and Lightspeed Venture Partners, valuing the legal AI company at $15.5B. Harvey will use the capital to expand its team and advance its AI platform, which helps law firms, in-house legal departments and professional-services organizations build and manage proprietary legal intelligence. - learn more
    • Nolan Capital participated in Encoded Therapeutics’ $275M Series F, which was co-led by GV and another healthcare-focused fund and included several new and returning investors. The biotech will use the capital to advance its lead gene therapy for Dravet syndrome through pivotal studies, expand its manufacturing capabilities and prepare another treatment for post-amputation nerve pain for clinical testing in 2027. - learn more
    • UP Partners led Overroute’s $5.5M seed round to expand its AI-powered freight execution platform for large trucking fleets and logistics operators. The company’s AI agents automate load monitoring, exception management and freight coordination, helping fleets respond to disruptions and keep shipments moving with less manual work. - learn more
    • Patron Fund participated in System’s $20M funding round alongside Will Ventures, Vine, Courtside, Daybreak, SV Angel and RiverPark Ventures. The San Francisco company will use the capital to expand its vertically integrated peptide platform, which connects patients with licensed clinicians and personalized treatments from U.S. compounding pharmacies while emphasizing testing, traceability and regulatory compliance. - learn more
    • Alpha Edison led Onix’s $5M pre-seed round, with participation from Garage Capital, Ride Home Fund and strategic investors including UTA co-founder Jeremy Zimmer and Real Ventures co-founder JS Cournoyer. The Montreal startup will use the funding to develop its private AI platform, onboard more specialists and prepare for a public launch, offering personalized guidance built exclusively from licensed expert knowledge rather than information scraped from the internet. - learn more
    • Rebel Fund participated in VideoGen’s $3.3M seed round alongside Y Combinator, Lobster Capital, Stretford End Capital, Mento VC, Pioneer Fund and Decacorn VC. The San Francisco startup, which has reached more than 5M users across 190 countries, will use the funding to expand its team and grow its AI platform for producing editable, copyright-free videos. - learn more

      Download the dot.LA App

      Who Gave the AI Access?

      🔦 Spotlight

      Happy Friday, Los Angeles.

      The newest employee in the office does not need a desk, a salary or a coffee order. But it may have access to your company’s emails, financial records, customer data and software systems.

      That raises a fairly important question: Who decides what an AI agent is allowed to do?

      El Segundo-based cybersecurity company Saviynt is building its next chapter around the answer.

      Carrick Capital Partners announced this week that it closed a $600M continuation vehicle for Saviynt, including a new $255M investment in the company. The transaction allowed Carrick’s existing investors to either take liquidity or remain invested, while also providing liquidity to Saviynt employees through a tender offer.

      Continuation vehicles are not exactly known for making gripping Friday reading. The company behind this one is considerably more interesting.

      Saviynt develops identity security software that helps businesses determine who can access their applications, data and infrastructure. Increasingly, however, “who” does not refer exclusively to a person.

      Companies are deploying AI agents that can retrieve information, write code, communicate with customers and complete multistep tasks with limited supervision. These digital workers need access to company systems to be useful, but every new permission also creates another opportunity for sensitive information to be exposed or an unintended action to be taken.

      In other words, AI agents may be tireless employees. They are not necessarily trustworthy ones.

      Saviynt is addressing that problem through Zuma, its platform for discovering, securing and governing AI agents, large language models and other nonhuman identities alongside a company’s human workforce. The goal is to give businesses one place to determine what every identity can access, whether it belongs to an employee, a contractor, a software application or an autonomous agent operating at machine speed.

      The opportunity appears to be growing quickly. Saviynt has surpassed $300M in annual recurring revenue, up from approximately $10M when Carrick first invested. The company says bookings have increased by more than 80% this year while customer retention remains at 96%.

      The new investment was completed as part of the final close of Saviynt’s previously announced $700M Series B, which valued the company at approximately $3B. Carrick’s continuation vehicle was led by Coller Capital and co-led by HSBC Asset Management, giving the investment firm more time and capital to remain behind one of its strongest-performing companies.

      For Saviynt, the funding will support further development of its identity platform, deeper integrations with major cloud and software providers and its push to become a central security layer for the agentic workplace.

      That ambition reflects a broader change taking place inside companies. The first wave of enterprise AI focused largely on what the technology could generate. The next phase is about what it can actually do, and whether businesses can maintain control once AI moves from answering questions to taking action.

      Saviynt is betting that identity will become the gatekeeper.

      AI agents are gaining access to the digital workplace, whether corporate security teams are ready for them or not.

      Someone still has to hold the keys.

      More from this week’s LA startup and venture scene below.

      🤝 Venture Deals

        LA Venture Funds

        • Fulcrum Ventures participated in Critical Materials Group’s $10.3M seed round, led by Overmatch Ventures and joined by Victory Six Advisors. The Austin-based defense manufacturer will use the funding to develop and commission modular, automation-ready production systems designed to expand domestic manufacturing capacity for munitions and advanced energetic materials. - learn more
        • Fusion VC participated in Newlight’s $9M seed round alongside lomarlabs, BIRD Energy, Undeterred Capital and CiRi Ventures. The San Francisco-based maritime technology company recently demonstrated its hydrogen-hybrid retrofit on an 8,500-nautical-mile commercial voyage, reducing fuel consumption by 24% and carbon dioxide emissions by 28%. - learn more
        • Rebel Fund participated in Metal’s $4.5M seed round alongside a16z, Y Combinator, Gaingels, Indus Valley Capital, Phaze Ventures and Pioneer Fund. Metal will use the funding to build an AI-native operating system that helps founders identify relevant investors, manage outreach and automate other parts of the venture fundraising process. - learn more
        • UP.Partners participated in Reframe Systems’ $40M funding round, led by Energy Impact Partners and joined by Counterpart Ventures, E12 Ventures, Global Brain, Thin Line Capital and LACI Impact Fund. The homebuilding startup will use the capital to expand its network of robotics-powered microfactories, which it says can construct homes three times faster and at 35% lower cost than traditional methods. - learn more
        • Clocktower Technology Ventures participated in Sharpi’s $4M seed round, co-led by NXTP and ONEVC and joined by MAYA Capital. The Brazilian startup will use the funding to expand its team and develop autonomous AI agents that connect WhatsApp conversations with enterprise systems to automate B2B sales tasks such as order processing, customer follow-ups and demand generation. - learn more

        LA Exits

        • Extensiv, a California-based provider of warehouse management and fulfillment software, has been acquired by Descartes Systems Group for approximately $120M in cash. The acquisition adds Extensiv’s AI-enabled inventory, order, billing and omnichannel fulfillment tools to Descartes’ logistics network, strengthening its offerings for third-party logistics providers and ecommerce brands. - learn more
        • DocSolutionUSA has been acquired by Stewart Information Services alongside ProTitleUSA, adding mortgage document generation and automation capabilities to Stewart’s title services platform. The companies provide title, document and due diligence services for mortgage servicers, investors and capital markets clients; financial terms were not disclosed. - learn more
        • Fysh Foods, the Los Angeles-based plant-based seafood brand founded by creator and entrepreneur Zoya Biglary, has been acquired by City Roots Hospitality in an all-cash deal with undisclosed terms. City Roots plans to introduce Fysh Foods’ raw fish alternatives across its New York City restaurants and potentially expand the brand beyond the city as its restaurant portfolio grows - learn more

          Download the dot.LA App

          An LA AI Company Just Won Entertainment’s Backing

          🔦 Spotlight

          Hello LA.

          The entertainment industry has spent the past several years debating what generative AI could take from creators.

          This week, some of its biggest companies put money behind an AI startup promising to build something for them instead.

          Los Angeles-based Stability AI raised $76M in Series B funding from an investor group that includes Electronic Arts, Sony Music Group, Universal Music Group and Warner Music Group. AMD Ventures and Pacific Alliance Ventures also joined the round, while LA-based MANTIS Capital and Sound Ventures are among the company’s existing backers.

          The financing brings Stability AI’s total funding under CEO Prem Akkaraju to $232M, including two equity rounds and convertible notes. The company plans to use the new capital to expand its creative production tools, applied research and professional services across music, gaming and entertainment.

          The amount is notable. The names attached to it are the bigger story.

          Generative AI’s arrival in entertainment has been anything but quiet. Artists have questioned whether their work was used to train models without permission. Studios have faced pressure over how the technology could affect jobs. Record labels have pursued AI companies in court while simultaneously exploring how the same technology might fit into their businesses.

          Now, several of the world’s largest entertainment companies are investing directly in one.

          That does not mean the industry has resolved its concerns about AI. It means some of its biggest players would rather help shape the technology than wait to see what it becomes.

          Stability AI is positioning itself for that opening. Rather than focusing solely on general-purpose models, the company is building tools specifically for professional creatives. Its recently launched Stable Audio 3.0 was trained on fully licensed music and lets artists generate, edit and arrange audio through a web platform or directly inside digital audio workstations.

          Image Source: Stability AI

          That licensed-data approach is central to the pitch. The next phase of creative AI will not be decided only by which company produces the most impressive model. It will also depend on which companies can earn the trust of the artists, studios and rights holders whose work gives those models value.

          For its new strategic investors, the round offers more than financial upside. It creates a closer view into how generative AI may change production, a voice in how the tools develop and an opportunity to establish rules before those rules are established for them.

          For Stability AI, the backing provides something equally important: credibility inside industries that have every reason to scrutinize what it is building.

          The company now has capital and access to some of the largest catalogs, franchises and creative workforces in entertainment. What it does with that access will determine whether this becomes a meaningful alliance or simply an impressive collection of logos.

          Either way, the industry is no longer watching from a safe distance.

          It has entered the room.

          LA’s Air-Taxi Plans Are Coming Downtown

          While Stability AI is trying to change how entertainment gets made, Archer Aviation wants to change how people get to it.

          AEG and Archer announced plans to develop downtown Los Angeles’ first vertiport at L.A. LIVE, creating a potential new stop in Archer’s proposed electric air-taxi network ahead of the 2028 Olympic and Paralympic Games.

          Image Source: Archer

          The planned site would sit beside Crypto.com Arena and allow passengers to travel to and from the entertainment district aboard Archer’s Midnight aircraft. The company says its network could turn drives that take an hour or longer into electric flights lasting approximately 10 to 20 minutes.

          Archer has already identified SoFi Stadium, USC and Hollywood Burbank Airport as possible locations, with its recently acquired Hawthorne Airport expected to serve as the network’s central operating hub. As the official air-taxi provider of LA28 and Team USA, Archer has an unusually visible deadline for turning those plans into something tangible.

          AEG and Archer have completed an initial feasibility study of the L.A. LIVE site, including reviews of land use, airspace, power availability and community impact. The next phase will examine operations and the passenger experience.

          There is still a substantial distance between a proposed vertiport and a functioning air-taxi network. The infrastructure must be built, regulatory approvals must be secured and passengers must be persuaded that flying across the city is safer and more practical than staying on the ground.

          Still, few locations could make that future feel more real than L.A. LIVE. Millions of people already pass through the district for concerts, games and major events. Placing a vertiport there would bring urban air mobility out of the concept stage and directly into public view.

          Together, this week’s announcements show Los Angeles becoming a testing ground for two technologies still moving from promise toward everyday use.

          One could reshape how entertainment is created. The other could reshape how Angelenos reach it.

          In a city famous for both its creative industries and its traffic, that feels appropriately on brand.

          More from this week’s LA startup and venture scene below.

          🤝 Venture Deals

            LA Companies

            • Atorie raised a $9.5M seed round from investors including a16z speedrun, Night Capital and Lightspeed Venture Partners’ Jeremy Liew. The AI-powered fashion startup connects consumers directly with luxury manufacturers to offer high-quality goods without traditional designer markups, and will use the funding to expand logistics, production and its AI shopping tools. - learn more
            • Long Beach-based Maglut Heavy Industries emerged from stealth with $3.1M in pre-seed funding from Wave Function, Nova Threshold and Julian Capital. The startup is developing a chromatography-based system to process and refine rare earth elements domestically, with pilot tests producing materials at more than 99.9% purity. - learn more

            LA Venture Funds
            • MANTIS Venture Capital participated in Voya Energy’s $35M Series A, led by Energy Impact Partners and joined by John Doerr, StepStone, Founders Fund, Overmatch and Seven Stars. The Hayward-based startup will use the funding to commercialize its aluminum-fueled generators, which provide clean, off-grid power for data centers and other energy-intensive operations without combustion or local air emissions. - learn more
            • Regeneration.VC participated in eComID’s $17M seed round, led by Systemiq Capital and joined by Course Corrected, Stadium and returning investor CapitalT. The Stockholm-based startup will use the funding to expand internationally and scale its AI-powered Shopping Passport, which helps retailers personalize sizing and product discovery while reducing returns. - learn more
            • Clocktower Technology Ventures participated in Helcim’s $53M Series C, led by BDC Capital’s Growth Venture Fund and joined by new investors Curql Collective and LA-based Gold House Ventures. The Calgary payments company will use the funding to expand its platform, develop additional financial services and serve more small and midsize businesses across North America. - learn more

            LA Exits

            • Altruist agreed to be acquired by Vanguard, giving the Los Angeles-based wealth technology and custody platform greater resources to expand its tools for independent financial advisors. Altruist will continue operating as a standalone business under its existing leadership and brand after the deal closes, which is expected later this year pending regulatory approval; financial terms were not disclosed. - learn more
            • Personality AI has been acquired by WildBrain for approximately $11M in cash and 1M WildBrain shares upfront, with additional payments tied to future performance. The startup develops kid-safe conversational AI experiences for entertainment characters, including “Hey Peppa Pig,” and will help WildBrain expand its franchises into interactive products across toys, apps and digital platforms. - learn more

              Download the dot.LA App

              RELATEDEDITOR'S PICKS
              Trending