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Despite — or in many cases because of — the raging pandemic, 2020 was a great year for many tech startups. It turned out to be an ideal time to be in the video game business, developing a streaming ecommerce platform for Gen Z, or helping restaurants with their online ordering.
But which companies in Southern California had the best year? That is highly subjective of course. But in an attempt to highlight who's hot, we asked dozens of the region's top VCs to weigh in.
We wanted to know what companies they wish they would have invested in if they could go back and do it all over again.
<p>Startups were ranked by how many votes each received. In the case of a tie, companies were listed in order of capital raised. The list illustrates how rapidly things move in startup land. One of the hottest startups had not even started when 2020 began. A number doubled or even 16x'd their valuation in the span of a few short months. </p><p>To divvy things up, we delineated between companies that have raised Series A funding or later and younger pre-seed or seed startups.</p><p>Not surprisingly, many of the hottest companies have been big beneficiaries of the stay-at-home economy.</p><p>PopShop Live, a red-hot QVC for Gen Z headquartered out of a WeWork on San Vicente Boulevard, got the most votes. Interestingly, the streaming ecommerce platform barely made it onto the Series A list because it raised its Series A only last month. Top Sand Hill Road firms Andreessen Horowitz and Lightspeed Venture Partners <a href="https://www.theinformation.com/articles/benchmark-wins-deal-for-live-shopping-app-popshop-at-100-million-valuation" rel="noopener noreferrer" target="_blank">reportedly competed ferociously for who would lead the round</a> but lost out to Benchmark, which was an early investor in eBay and Uber. The round valued PopShop Live at $100 million, way up from the $6 million valuation it <a href="https://www.bizjournals.com/losangeles/news/2020/07/08/popshop-live-raises-3m-for-live-streaming-app.html" rel="noopener noreferrer" target="_blank">raised at only five months prior. </a></p><p>Scopely, now <a href="https://dot.la/doubling-valuation-scopely-is-now-one-of-the-top-la-tech-startups-2648525465.html" target="_self">one of the most valuable tech companies in Los Angeles,</a> was also a top vote getter.</p><p>The Culver City mobile gaming unicorn <a href="https://dot.la/doubling-valuation-scopely-is-now-one-of-the-top-la-tech-startups-2648525465.html" target="_self">raised $340 million in Series E funding in October</a> at a $3.3 billion valuation, which nearly doubled the company's $1.7 billion post-money valuation from March. It is no coincidence that that was the same month stay-at-home orders began as Scopely has benefited from bored consumers staying on their couch and playing ScrabbleGo or Marvel Strike Force. </p><p>The company's success is especially welcome news to seed investors Greycroft, The Chernin Group and TenOneTen ventures, who got in at a $40 million post valuation in 2012. Upfront Ventures, BAM Ventures and M13 joined the 2018 Series C at a $710 post-money valuation.</p><p>Softbank-backed Ordermark, which flew more under the radar, also topped the list. The company's online ordering platform became a necessity for restaurants forced to close their dining rooms during the pandemic and raised $120 million in Series C funding in October.</p><p>On the seed side, two very different startups stood out. There was Pipe, which enables companies with recurring revenues to tap into their deferred cash flows with an instant cash advance, and Clash App, Inc., a TikTok alternative launched by a former employee of the social network in August.</p><p><span></span>We will have the list of Southern California's top seed startups out tomorrow.</p>
<p class=""><em>Lead art by Candice Navi.</em></p>
Hottest
<img class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true" data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzIyNS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1OTQ3MjQ2OH0.JYCNMjYvosYa5SI7701CH_jMFbeFdMcRCChXt442cq0/image.png?width=980" id="3927d" width="686" height="128" data-rm-shortcode-id="5defd5b7e1983aa7681f36d6e1783a7b" data-rm-shortcode-name="rebelmouse-image" alt="PopShop Live logo" />PopShop Live ($100 million)
<p>The live-streaming shopping channel created by Danielle Lin reportedly found itself in the middle of a <a href="https://www.theinformation.com/articles/benchmark-wins-deal-for-live-shopping-app-popshop-at-100-million-valuation" target="_blank">venture capital bidding war this year</a>. Benchmark eventually won out leading a Series A round, vaulting the app at a $100 million valuation. The Los Angeles-based platform has been likened to QVC for Gen Z and <a href="https://dot.la/popshop-live-2646369816.html" target="_self">it's part of a new wave of ecommerce</a> that has found broader appeal during the pandemic. Google, Amazon and YouTube have launched live shopping features and other venture-backed startups like Los Angeles-based NTWRK have popped up.</p>Boiling
<img class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true" data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzIyOC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2MzI5MjYwMn0.h7Nq7GiwXTcg_7Io5WEXblFX0rWQHxn69RzluTh7n_Q/image.png?width=980" id="4e424" width="361" height="93" data-rm-shortcode-id="b53f9030fdb96b08d7cfdb5383c97bfb" data-rm-shortcode-name="rebelmouse-image" alt="Scopely logo" />Scopely ($3.3 billion)
<p>One of the most valuable Southern California tech startups with <a href="https://dot.la/doubling-valuation-scopely-is-now-one-of-the-top-la-tech-startups-2648525465.html" target="_self">a $3.3 billion valuation</a>, the Culver City mobile game unicorn has benefitted from a booming gaming market that has flourished in this stay-at-home economy. Scopely offers free mobile games and its roster includes "Marvel Strike Force," "Star Trek Fleet Command" and "Yahtzee with Buddies." In October the company raised a $340 million Series E round backed by Wellington Management, NewView Capital and TSG Consumer Partners, among others fueling speculation that it was on its road to an IPO. Co-CEO Walter Driver <a href="https://www.bloomberg.com/news/articles/2020-10-28/scopely-raises-340-million-in-push-to-be-a-mobile-gaming-giant?utm_source=google&utm_medium=bd&cmpId=google&sref=4Kf8RwDw" target="_blank" rel="noopener noreferrer">has said</a> that he doesn't have immediate plans to go public. </p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzIzNC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYyMDQ4NTgyMn0.caggOCkGNRp4GE2mV_BvBsOt-3eTs6wLqCHAXmK9IpQ/image.png?width=980"
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Ordermark ($70 million)
<p>The coronavirus has forced the closure of many dining rooms, making Ordermark all the more sought after by restaurants needing a way to handle online orders. Co-founder and CEO Alex Canter started the business in 2017, which recently rang in more than <a href="https://www.forbes.com/sites/aliciakelso/2020/12/09/how-ordermarks-latest-funding-haul-could-help-independent-restaurants-survive-the-pandemic/?sh=443a72644b7d" target="_blank">$1 billion in sales</a>. Ordermark secured $120 million in Series C funding by Softbank Vision Fund 2 in October that it will use to bring more restaurants online. The company's Nextbite, a virtual restaurant business that allows kitchens to add delivery-only brands such as HotBox from rapper Wiz Khalifa to their existing space through Ordermark, is also gaining traction. </p>Simmering
<img class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true" data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzMxNi9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1NjM4MjQ5Mn0.XSHQfru9tTpdeBqd_ecb--8DiZg_vdyOtF9ZV9zAG78/image.png?width=980" id="839d0" width="455" height="111" data-rm-shortcode-id="79ffc10f23fc7ca1572d55df3f299f85" data-rm-shortcode-name="rebelmouse-image" />Cameo ($300 million)
<p>Cameo, which launched three years ago, had its breakout year in 2020 as C-list celebrities like Brian Baumgartner <a href="https://www.buzzfeed.com/larryfitzmaurice/kevin-office-highest-earning-cameo" target="_blank">banked over a million dollars</a> from creating customized videos for fans. In the sincerest form of flattery, <a href="https://www.bloomberg.com/news/articles/2020-12-15/facebook-building-tool-to-let-fans-pay-celebrities-for-face-time" target="_blank">Facebook is reportedly launching a feature that sounds a lot like Cameo. </a> Even though the company is still technically headquartered in Chicago, we included Cameo because CEO Steven Galanis and much of the senior team moved to L.A. during the pandemic and say they plan to continue running the company from here for the foreseeable future.</p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzQyMS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0MzIyNTA2MH0.Q7liPP3eMIINmacHCWZDp3P2xJjIx19nAJL3r0PTzV0/image.jpg?width=980"
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Mothership ($64 million)
<p>Co-founded by CEO Aaron Peck, Mothership provides freight forwarding services intended to streamline the shipping experience. The company's tracking technologies connect shippers with nearby truck drivers to speed up the delivery process. It raised $16 million in Series A venture funding last year, driving the platform to a $48 million pre-money valuation.</p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzUxNS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1MDM4ODMxNH0.JhY8gLSI7YWbw_8vxTM3IQOf8NZELdrh8bWdGG8mB_U/image.png?width=980"
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Nacelle ($6.7 million)
<p>Founded in 2019, Nacelle's ecommerce platform helps retailers improve conversion rates and decrease loading speeds for their sites. The software integrates with Shopify and other services, offering payment platforms and analytics integration, among dozens of services. Nacelle raised about $4.8 million earlier this year with angel investors that included Shopify's Jamie Sutton, Klaviyo CEO Andrew Bialecki and Attentive CEO Brian Long. </p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzUxOC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY3NTUwOTY4NH0.6oMIDYTnTsrnIqM0CImdCr1hryg1cAsjGc5DJGznzRo/image.png?width=980"
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Boulevard ($30 million)
<p>Matt Danna and Sean Stavropoulos <a href="https://dot.la/boulevard-app-2649021308.html#:~:text=Their%20four%2Dyear%20old%20salon,to%20digitize%20their%20appointment%20books." target="_self">came up with Boulevard when an impatient Stavropoulos was frustrated</a> wasting hours to book a hair appointment. Their four-year-old salon booking and payment service is now used by some of Los Angeles' best-known hairdressers. Last month, the two secured a $27 million Series B round co-led by Index Ventures and Toba Capital. Other investors include VMG Partners, Bonfire Ventures, Ludlow Ventures and BoxGroup.</p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzUyNy9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY2NTQwOTM5NH0.ccTFYR5uzxflJ9M_IPQdCkvQD3DlHSWfrWeqsWQKw-U/image.jpg?width=980"
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data-rm-shortcode-id="406a54000241466bee0ac583bfbe2f23" data-rm-shortcode-name="rebelmouse-image" alt="CloudKitchens" />
CloudKitchens ($5.3 billion)
<p>Uber co-founder Travis Kalanick CloudKitchens rents out commissary space to prepare food for delivery. And as the pandemic has fueled at-home delivery, <a href="https://www.wsj.com/articles/uber-founder-turns-real-estate-mogul-for-ghost-kitchen-startup-11603186200" target="_blank">the company has been gobbling up real estate</a>. The commissaries operate akin to WeWork for the culinary world and allow drivers to easily park and pick-up orders as the delivery market has soared during pandemic. Last year, it raised $400 million from Saudi Arabia's colossal sovereign wealth fund. </p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzYwMy9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY1NDI3MjkyNX0.l7SX-f7x7WXYLSJxOFh9IBYPQ9UHyAGYlLwm-VqcSEM/image.jpg?width=980"
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GOAT ($1.5 billion)
<p>Founded by college buddies five years ago, GOAT tapped into the massive sneaker resale market with a platform that "authenticates" shoes. The Culver City-based company has since <a href="https://dot.la/goat-group-la-2647074186/goat-uses-nba-playoffs-to-launch-brand-campaign" target="_self">expanded into apparel and accessories</a> and states that it has 20 million members. Last year, Foot Locker sunk a $100 million minority investment into 1661 Inc., better known as Goat. And this fall it landed another $<a href="https://dot.la/sneaker-reseller-goats-100m-raise-ptrendsetter-in-a-casual-era-of-ecommerce-2647774644.html" target="_self">100 million Series E</a> round bankrolled by Dan Sundeheim's D1 Capital Partners. </p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzYwNi9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYzMTk1OTc5Nn0.6Y7vMFyH1FwClW-QNJ6sUGzhq1Q9IuNP9-4-koT1LqA/image.png?width=980"
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data-rm-shortcode-id="b66fc18e570b3f2def91ffcf0b5c43eb" data-rm-shortcode-name="rebelmouse-image" alt="Savage X Fenty logo" />
Savage X Fenty
<p>The lingerie company co-founded by pop singer Rihanna in 2018 is noted for its inclusivity of body shapes and sizes. It has raised over $70 million, but <a href="https://www.nytimes.com/2020/12/14/business/dealbook/roblox-tech-ipos.html" target="_blank">The New York Times' DealBook newsletter recently reported</a> that it's been on the hunt for $100 million in funds to expand into active wear. The company generates about $150 million in revenue, but is not yet profitable, according to the report. It became <a href="https://www.businessinsider.com/rihanna-savage-x-fenty-accused-of-deceptive-marketing-2020-2" target="_blank">the focus of a consumer watchdog investigation</a> after being accused of "deceptive marketing" for a monthly membership program.</p>Warming Up
<img class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true" data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzYwOS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY3MzQ1MzE4OX0.fS5XtGx4M-tqWecrth6NCHawGSg2aSkb-yR-cY3wbtU/image.png?width=980" id="4fca7" width="600" height="600" data-rm-shortcode-id="6a5ba1810dd71af400ee8f61634cc56e" data-rm-shortcode-name="rebelmouse-image" />FabFitFun ($930 million)
<p>The lifestyle company provides customized personal subscription box services every three months with full size products. Started in 2010 by Daniel Broukhim, Michael Broukhim, Sam Teller and Katie Rosen Kitchens, it now boasts more than one million members. Last year, the company raised $80 million in a Series A round led by Kleiner Perkins last year and <a href="https://labusinessjournal.com/news/2020/oct/05/fast-growing-etailer-fabfitfun-possible-ipo/" target="_blank">appears to be preparing for an eventual IPO</a> as it slims down costs and refocuses on its <a href="https://dot.la/fabfitfun-layoffs-refocus-2645321060.html" target="_self">high value </a>products.</p><img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vbWVkaWEucmJsLm1zL2ltYWdlP3U9JTJGaW1hZ2VzJTNGcSUzRHRibiUzQUFOZDlHY1NIWXNBeFVWZ1J6a2VJVDZzWE5xU0tPVWg1Ri1qU2V0ZnV1dyUyNnVzcXAlM0RDQVUmaG89aHR0cHMlM0ElMkYlMkZlbmNyeXB0ZWQtdGJuMC5nc3RhdGljLmNvbSZzPTE4OSZoPWMyM2U5ZGI3MmI2OWVlYWE1ZGNjMDIzNTZmYjgwZGI3NTkxNWIwZDdhOGFhNTk1YzQzYzRhMzYzNjIzZmEzZGQmc2l6ZT05ODB4JmM9Mjg2MzQwMTM1NCIsImV4cGlyZXNfYXQiOjE2Mzg2MDA1NjR9.qWy95wwhg8i2C_ZX-ba2HEivjNkIw8hNzNcMCrNBqfw/image.jpg" id="acba9" class="rm-shortcode" data-rm-shortcode-id="6c5c926b1b226e2896a508c7b2a59027" alt="Dave app logo" />
Dave ($1 billion)
<p>Launched in 2016, the finance management tool helps consumers to avoid overdrafts, provides paycheck advances and assists in budgeting. Last year, it began to roll out a digital bank account that was so popular that two million users signed up for a spot on the waitlist. The company, run by co-founder Jason Wilk, has raised $186 million in venture capital and counts billionaire Mark Cuban as an early investor and board member. Other backers include Playa Vista-based Chernin Group.</p><img lazy-loadable="true" src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vbWVkaWEucmJsLm1zL2ltYWdlP3U9JTJGaW1hZ2VzJTNGcSUzRHRibiUzQUFOZDlHY1FPWGJReDlKdmF3b0hXc096dERXRkpVeTRERW5qalVITElidyUyNnVzcXAlM0RDQVUmaG89aHR0cHMlM0ElMkYlMkZlbmNyeXB0ZWQtdGJuMC5nc3RhdGljLmNvbSZzPTcwMSZoPWM5MGI4NjJjMTM0NTExYjcwN2Y2ZTg0NDAzMjNmNGYzNzUyOGIwNTM0N2IzZTc2MmExNzUwYmZmZmRjZDczYjEmc2l6ZT05ODB4JmM9NDAzMDk2MjAwMCIsImV4cGlyZXNfYXQiOjE2NzAxMDk3MjR9.IFhgk0btjnI-GbHb_4Dh9bBcK999VMoWweZCnaGGLZ8/image.jpg" id="22354" class="rm-shortcode" data-rm-shortcode-id="0a332dbc9d8d328e5700e6b0945471a1" />
Sure ($59 million)
<p>SURE offers multiple technology products to major insurance brands — its platform can host everything from renter's insurance to covering baggage, so customers never have to leave an agency's website. It also offers its platform to ecommerce marketplaces, embedding third-party insurance protections for customers to purchase all on the same webpage. Founded in 2014, the Santa Monica-based startup last raised an $8 million Series A round led by IA Capital in 2017.</p><img
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Zest AI ($90 million)
<p>Founded in 2009 by former Google CIO Douglas Merrill and ex-Sears executive Shawn Budde, Zest AI provides AI-powered credit underwriting. It helps banks and other lenders identify borrowers looking beyond traditional credit scores. It claims to improve approval rates while decreasing chargeoffs. The company uses models that aim to make the lending more transparent and less biased. This fall the company raised $15 million from Insight Partners, MicroVentures and other undisclosed investors, putting its pre-money valuation at $75 million, according to PItchbook.</p><img
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PlayVS
<p>Santa Monica-based PlayVS provides the technological and organizational <a href="https://dot.la/playvs-high-school-esports-2647048099.html" target="_self">infrastructure for high school esports leagues</a>. The pandemic has helped the company further raise its profile as traditional sports teams have been benched. Founded in early 2018, PlayVS employs 46 people and has raised over $100 million. In addition to partnering with key educational institutions, it also has partnerships with major game publishers such as Riot and Epic Games.</p><img
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data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzY5NC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2ODI4NTgyN30.bZeKd8Z_en55nxL_6LdzNaL1FNUT01e5h2Q1SO-_im4/image.png?width=980"
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Tapcart ($40 million)
<p>A SaaS platform helps Shopify brands create mobile shopping apps. The marketing software saw shopping activity jump 50% <a href="https://dot.la/tapcart-mobile-retail-platform-2646056623.html" target="_self">over 90 days</a> as the pandemic walloped traditional retailers. Founded by Eric Netsch and Sina Mobasser, the company raised a $10 million Series A round led by SignalFire, bringing the total raise to $15 million.</p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzY5NS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0NzAwNTE2NH0.UmVYzWRXxa5Hi_j3bszZdQsN-cW6sQu6vBj4y2qxz1E/image.png?width=980"
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Papaya ($31.8 million)
<p>Papaya lets customers pay any bill from their mobile devices just by taking a picture of it. The mobile app touts the app's ease-of-use as a way to cut down on inbound bill calls and increase customer payments. Founded by Patrick Kann and Jason Metzler, the company has raised $25 million, most recently a S10 million round of convertible debt financing from Fika Ventures, Idealab and F-Prime Capital Partners.</p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzY5OC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYyNTYyMTc2Mn0.8lwp3rJYqkee108lZxymVA0Z0FppunMPnCU7prsw8xA/image.png?width=980"
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Floqast ($250 million)
<p>FloQast is a management software that integrates enterprise resource planning software with checklists and Excel to manage bookkeeping. The cloud-based software company claims its system helps close the books up to three days faster. It is used by accounting departments at Lyft, Twilio, Zoom and The Golden State Warriors. In January, it raised $40 million in Series C funding led by Norwest Venture Partners to bring the total raise to $92.8 million.</p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzY5OS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYzMzg4NTI5M30.WUAoRXYSNkJmtqYs1HucZ0lX-koAeXYj5I0oRrWsibk/image.png?width=980"
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Brainbase ($26.5 million)
<p>The company's rights management platform expedites licensing payments and tracks partnership and sponsorship agreements. It counts BuzzFeed, the Vincent Van Gogh Museum and Sanrio (of Hello Kitty and friends fame) among its clients. In May <a href="https://dot.la/headspace-brainbase-2647426309/rights-management-platform-brainbase-beefs-up-c-suite-following-8m-raise" target="_self">it announced $8 million in Series A financing </a>led by Bessemer Venture Partners and Nosara Capital, bringing the total raised to $12 million.</p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzc4NC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY3MzY1NTY2NH0.id3F2ONeIMzdb1wPYc2Cae4gUZ2I6zas4DtLgEhMNA8/image.png?width=980"
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OpenPath ($28 million)
<p>The Los Angeles-based company provides a touchless entry system that uses individuals cell phones to help with identification instead of a key card. The company offers a subscription for the cloud-enabled software that allows companies to help implement safety measures and it said demand has grown amid the pandemic. Founded by <a href="https://dot.la/alex-kazerani-james-segil-2646964770.html" target="_self">James Segil and Alex Kazerani</a> the company r<a href="https://dot.la/openpath-primed-for-covid-accelerated-growth-announces-36-million-raise-to-make-keycards-obsolete-2646416034/particle-2" target="_self">aised $36 million led by Greycroft </a>earlier this year, bringing its total funding to $63 million.</p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzc4Ni9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1MTUzMDk5MX0.xEVC_2nNgGNHcUlPZc1932EpkrYJbCpShGVP6Pyc1wk/image.png?width=980"
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FightCamp ($2.5 million)
<p>FightCamp is an interactive home workout system that<a href="https://mashable.com/article/fightcamp-review/" target="_blank"> turns your space into a boxing ring</a> with a free standing bag, boxing gloves and punch trackers. The company is riding the wave of at-home fitness offerings including Peloton, Mirror and Zwift that have taken off during the pandemic as gyms closed. The company has raised $4.3 million to date.</p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzc4Ny9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY3MDY2MDk5Mn0.ky2E4So36PfYFVd9GjX9HL32nxJlwQ9cEkQQCmmK5pI/image.png?width=980"
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Numerade
<p>The Santa Monica-based company provides video and interactive content for education in math, science, economics and standardized test prep. Founded in 2018 by Nhon Ma and Alex Lee, who previously founded Tutorcast, an online tutoring service, the company gathers post-graduate educated instructors to create video lessons for online learning.</p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzc4OC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYzMjAzNTgyNX0.bcGRZ8fyJOQ4cNXID6Ls8vCdV3KRyxI5Hqjxu7O4Dmc/image.png?width=980"
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Our Place ($32.5 million)
<p>The creator of a pan with a cult following on social media, this Los Angeles-based startup designs and retails cookware and dinnerware. Founded by Amir Tehrani, Zach Rosner and Shiza Shahid, the company completed its Series A funding earlier this year, bringing its total raised to date to $10 million.</p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzc5MC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYyNzIxNDk4Nn0.QutV5lS2Yh1lC7cnnX4MtX2XxvLHaewK4WNIGO7zX5M/image.png?width=980"
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data-rm-shortcode-id="e529cf137172e31c212ab3ae4eb857f7" data-rm-shortcode-name="rebelmouse-image" alt="Tala" />
Tala ($560 million)
<p>For customers that have no formal credit or banking history, this company's application promises more financial access, choice and control. It gathers data to create a credit score that can be used to instantly underwrite and disburse loans ranging from $10 to $500. Co-founded by Shivani Siroya and Jonathan Blackwell, Tala has raised $217.2 million to date. Its investors include PayPal Ventures, Lowercase Capital and Data Collective.</p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzc5My9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2NDA4OTQ2Nn0.IIPwkBI2M3OMR-fgnM47TLWe5yoOsVZe6tvPwVCI3dU/image.png?width=980"
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data-rm-shortcode-id="6e60963b7d8d9f5c4c711eba919f962f" data-rm-shortcode-name="rebelmouse-image" alt="ServiceTitan" />
ServiceTitan ($2.25 billion)
<p>Founded in 2007 by chief executive Ara Mahdessian and president Vahe Kuzoyan, ServiceTitan operates software that helps residential home contractors grow their businesses. It provides businesses tools like customer relationship management and accounting integration to streamline operations. The company closed a $73.82 million Series E funding round from undisclosed investors earlier this year.</p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzgxNi9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1MzY5OTU2OX0.-z16s658TU1QIbo0mcqGdnrB4Uz0Sj6eRRJgdkyw3fU/image.png?width=980"
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100 Thieves ($160 million)
<p>Founded in 2017 by former professional "Call of Duty" player Matthew Haag, 100 Thieves manages esports competitions in major titles including "Counter Strike Global Offensive" and "League of Legends." The company also produces apparel and merchandise, opening a physical store and training ground called the "Cash App Compound" in collaboration with Fortnite earlier this year. The company has raised $60 million to date, from investors including Salesforce CEO Marc Benioff and Aubrey Graham, better known as the rapper Drake.</p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzg2NS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2NDM1MTU3N30.gZiFa2FICgByJt8s93ni59ipDb8K-odSv0zjRA8B0Vg/image.png?width=980"
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Emotive ($16.5 million)
<p>This AI-powered customer service platform automates text conversations between customers and businesses to increase sales. Emotive uses their sales team to verify questions, distinguishing it from other bot-driven marketing services, according to the company. The company was founded in 2018 by Brian Zatulove and Zachary Wise, who serve as the chief executive and the chief operating officer, respectively. It has raised $6.65 million to date, from Floodgate Fund and TenOneTen Ventures. </p><img
class="rm-lazyloadable-image rm-shortcode" lazy-loadable="true"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzg3MS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2MDgzMjY3NX0.r0Oc87K8y6t8f6Xa8l0y0gcGml_5FW2gPpD-TE6Bu7g/image.png?width=980"
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Everytable ($33 million)
<p>Created by former hedge fund trader Sam Polk, the Los Angeles-based startup wants to be a healthy fast food chain. It <a href="https://dot.la/everytable-2648958920.html" target="_self">prices its healthy pre-packaged meals around $5</a> in underserved communities while costing more in other neighborhoods with the goal of reducing so-called food deserts in low-income neighborhoods. It also offers a subscription delivery service. The company recently closed a $16 million Series B round led by Creadev along with Kaiser Permanente Ventures.</p>From Your Site Articles
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Santa Monica-based PlayVS, a platform that organizes high school esports leagues, raised $10.5 million, SEC filings show.
The injection of money comes just as PlayVS is making a push to expand across all 50 states and diversify their offerings. The two-year old company raised $50 million this summer and with the most recent round, the company's total funding jumped over $100 million.
<p>PlayVS declined to comment on the raise, but a spokeswoman for the company said it's "currently focused on growing its business, partnering with schools and continuing to strengthen its mission."</p><p>PlayVS partners with the National Federation of State High School Associations and 23 state associations, where it's recognized as a varsity sport. Students can play competitive team games like Rocket League, a game in which a player drives a car to play soccer, to earn a varsity letter and compete for state championships.</p><p>Over 21,000 schools and 143,000 students have registered so far. Like with varsity sports, a faculty member is required to supervise. Students register online under their school team, to compete in two seasons during the academic year, aligned with fall and spring sporting seasons. The cost is $63 for each participating student, $1,024 for 16 players per season.</p><p>The platform has seen interest rise as COVID keeps school-aged children at home.<br/></p><p>Over the summer, PlayVS added Overwatch to their available games, partnering with the game publisher Activision Blizzard for the first time. The company also partnered with Riot Games and Epic Games, and students can compete in League of Legends or Fortnite.</p>The esports industry <a href="https://dot.la/esports-industry-news-2647149204.html" target="_self">was valued at over $1 billion last year</a>, and is <a href="https://dot.la/future-of-gaming-2648622366.html?utm_campaign=post-teaser&utm_content=hatsraky" target="_self">expected to grow</a> 24% annually from 2020 to 2027.
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Venture Firm Rolls Out its Investing Strategy for the 'Metaverse' that May Soon Eclipse the Internet
Sep 29 2020
Gaming is eating the world.
So says a new report issued Tuesday by L.A.-based investment firm MaC Venture Capital.
The report mentions the recent explosion of gaming companies – including Epic Games' $1.78 billion raise that valued it at $17.3 billion, Unity's $1.3 billion IPO that valued the Epic competitor at $13.7 billion and Roblox's $150 million fundraise that valued the kid's gaming "sandbox" at $4 billion — and that was before the pandemic boosted Roblox's user base.
But most of the analysis is devoted to the techniques and tools that gaming has popularized over the years, and that are fast proliferating into areas as diverse as retail, film production, medicine and national defense.
<p>MaC, an early stage firm formed from a merger of Cross Culture Ventures and M Ventures, invests in tech companies it believes will benefit from shifting cultural trends and behaviors. </p><p>Underlying much of the firm's optimism around the gaming industry is its maturity, general partner Michael Palank told dot.LA. Multiple generations have now grown up with gaming, from early Nintendo consoles to mobile games and newly immersive platforms like Fortnite. That familiarity has pushed the mechanics of video gaming – taking action, leveling up, expanding your in-game persona – far beyond a traditional leisure activity, he said.</p><p class="shortcode-media shortcode-media-rebelmouse-image">
<img
class="rm-lazyloadable-image rm-shortcode" type="lazy-image"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDQ0ODEzMi9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0NTM3NzU4NH0.smnfODhQF1R6u7DG6hFObQUgeYtTXCCo5PZ0FDXEVLE/image.png?width=980"
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<small class="image-media media-caption" placeholder="Add Photo Caption...">A graph from MaC Venture Capital's report highlights gaming's growth in 2020.</small><small class="image-media media-photo-credit" placeholder="Add Photo Credit...">Image from MaC Venture Capital</small></p><p>In addition to merging into other sectors, those tropes are starting to inform how people operate in new spaces, including what industry observers have termed the "metaverse." MaC sees this space as a virtual world "where we will not just play games but socialize with friends, shop, learn, earn a living, perform, transform, travel and escape.<br/></p><p>"Many believe that the metaverse will not only be the next great computing platform — one that rivals the internet itself — but also a virtual world where billions of people come to transact trillions of dollars," the report says. </p><p>The ubiquity of gaming has created a stronger desire among consumers to be able to participate in their content. </p><p>And, especially among young people, the way one's digital self is presented to the world is closing in on its real-world analog. </p><p>"Your inventory of items, the character you play with, the skins you have, the avatars you choose – these things are becoming as important as wearing a Starter jacket was when I was in high school," Palank said.</p><p>MaC is currently raising capital for its next fund; Palank said he expects about 25% of it will be deployed to gaming.</p><p>The report, entitled "<a href="https://macventurecapital.com/in-the-news/stcgaming/" rel="noopener noreferrer" target="_blank">The State of Technology & Culture: Gaming Takeover</a>," touches on gaming's darker side as well, including its issues with misogyny and a lack of diversity among developers and characters. This, despite the fact that people of color have a proportionately higher engagement with gaming, as the report details. </p><p>"There is a lot of work to be done to ensure that this new gaming-influenced world is the kind of world in which we want to live," the report states.</p><p class="shortcode-media shortcode-media-rebelmouse-image">
<a href="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzU3MTIzMy9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYxODg2OTMxOX0.uVtWcp3syyDKzC5fSNSW_6iNjGLSaAuTLnr0WPu85Q0/img.jpg?width=980" target="_blank"><img
class="rm-shortcode" type="lazy-image"
data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzU3MTIzMy9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYxODg2OTMxOX0.uVtWcp3syyDKzC5fSNSW_6iNjGLSaAuTLnr0WPu85Q0/image.jpg?width=980"
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<small class="image-media media-caption" placeholder="Add Photo Caption...">PlayVS employs has key relationships with educational institutions as well as partnerships with major game publishers including Riot and Epic.</small>
<small class="image-media media-photo-credit" placeholder="Add Photo Credit...">
Image from PlayVS
</small>
</p><p>As for what MaC will actually do to avoid a world of underrepresentation and gaming addiction, among other potential problems, the firm's partners ascribe to a philosophy of "investing in the future that we want to see," Palank said.<br/></p><p>For example, Cross Culture Ventures was an early investor in PlayVS, <a href="https://dot.la/playvs-high-school-esports-2647048099.html" target="_self">a company that enables high schools and colleges to run esports programs</a> and participate in leagues and tournaments. Palank pointed to the priority that PlayVS places on increasing access to gaming as one reason the firm found it appealing. The company was founded by Delane Parnell, who is Black.</p><p>"If it were a team that didn't care or know about diversity challenges in gaming and had no passion about rectifying those issues, I think PlayVS would have been a less attractive investment," Palank said.</p><p>The report also highlights L.A.-based <a href="https://glowup.games" rel="noopener noreferrer" target="_blank">Glow Up Games</a> and <a href="https://dot.la/run-by-ex-jam-city-executive-robin-games-raises-7-million-to-build-lifestyle-games-2645528288.html" target="_self">Robin Games</a> as companies poised to bring more diversity to the industry. </p><p>Los Angeles is likely to play a big role in the firm's investment strategy. Palank said he expects at least half of the fund's future bets will be L.A.-based. </p><p>MaC's L.A.-based investments in gaming also include Artie, which is <a href="https://dot.la/artie-2647773915.html" target="_self">seeking to change how mobile games are distributed</a>; FazeClan, whose <a href="https://dot.la/faze-clan-2646120733.html" target="_self">culture-shaping initiatives</a> include retail, esports and content production; and Within, whose <a href="https://wonderscope.com" rel="noopener noreferrer" target="_blank">Wonderscope app</a> is designed to give kids AR-enabled interactive story experiences.</p>
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