Techstars Aerospace Alums Gather for a Day of Partnership and Project Reveals
Tami Abdollah
Tami Abdollah is dot.LA's senior technology reporter. She was previously a national security and cybersecurity reporter for The Associated Press in Washington, D.C. She's been a reporter for the AP in Los Angeles, the Los Angeles Times and for L.A.'s NPR affiliate KPCC. Abdollah spent nearly a year in Iraq as a U.S. government contractor. A native Angeleno, she's traveled the world on $5 a day, taught trad climbing safety classes and is an avid mountaineer. Follow her on Twitter.
Techstars Starburst Space Accelerator's latest class announced partnerships with NASA's Jet Propulsion Laboratory, Maxar Technologies and Israel Aerospace Industries (IAI) North America, among others, at Wednesday's long-awaited showcase. It was the culmination of months of focused and sometimes grueling remote work.
The program aims to help companies achieve several years of commercial growth within three months, with mentorship from the accelerator's partners, including the U.S. Air Force, NASA Jet Propulsion Laboratory (JPL), Lockheed Martin, Israel Aerospace Industries North American (IAI), SAIC and Maxar Technology.
The class of 10 companies come from Los Angeles, Toronto, Poland and states across the U.S. Among them is a company that provides a user-friendly AR/VR platform for use in education and training, a developer of an advanced AI system for data scientists as well as an air contamination and quality monitoring system.
"This is cutting edge development, and we need it for space exploration," said Tom Cwik, who manages the space technology office at JPL.
Because of the pandemic, Wednesday's Demo Day was held over YouTube, rather than in-person at the California Science Center. "It's kind of like the first day of the rest of your life," said the program's managing director Matt Kozlov.
Techstars Starburst Space Accelerator - Demo Day 2020 (Updated) www.youtube.com
Here are some of today's key announcements:
Prewitt Ridge Partners with JPL
Los Angeles-based Prewitt Ridge co-founder and CEO Steve Massey joined forces with his co-founder, Zeke Brechtel, both formerly with SpaceX to build an integrated software platform that aims to remove data duplication, lower the likelihood of error and let companies work faster.
Prewitt Ridge announced that JPL will be its first major external user in the aerospace and robotics space, which is a target market for the company. Massey said the company has been able to gain a deeper understanding of JPL's needs, approaches and challenges through the accelerator program. The company will help with a small research and development project, building the robotic arm for the lunar lander payload — which helps deploy equipment onto the moon's surface.
Urban Sky's Stratospheric Balloon Gets PreSeed Investment
In less than a year, Urban Sky co-founder and CEO Andrew Antonio said the company has "designed, built and flown the first-ever reusable high altitude balloon and collected sample aerial imagery from the stratosphere."
Its microballoon is reusable and reduces the cost of high-resolution remote sensing and weather-related data capture from its stratospheric vantage point.
Antonio announced that Urban Sky oversubscribed its pre-seed round with investments from New Stack, L.A.-based VC firm TenOneTen, Catapult and Techstars. The company also won a $250,000 cash grant from the state of Colorado as a top startup in the state and a small business innovation research contract from JPL to further develop its tech for wildlife monitoring applications. Antonio also said that Maxar has stated its interest in partnering with Urban Sky as an imaging subcontractor. Lastly, Atonio announced the company's first commercial customer and partner, Arturo, to conduct its one-year imaging pilot program over Colorado.
vRotors Gets a Slew of Partnerships
L.A.-based vRotors, which provides a platform that aims to make it easier to control a remote robotic device from a PC, Mac, mobile phone or VR headset, from anywhere in the world.
Co-founder and CEO Neil Malhotra announced vRotors' first partnerships with Dish Network to help with remote tower inspections; with Maxar Technologies to do real-time, high-resolution 3-D map applications; and Honeywell to do remote supervision of its autonomous air taxi fleets. vRotors is also working with IAI to automate the landing process for their next moon mission.
Lux Semiconductors Gets Federal Backing
Co-founder and CEO Shane McMahon announced that Lux, which has developed a flexible silicon wafer to help miniaturize electronics, has raised more than $200 million from major federal agencies including the National Science Foundation, the Department of Energy and the Department of Defense.
The company has been collaborating with Oak Ridge National Laboratory on technical matters and is also working on several cooperative research agreements with strategic defense agencies focused on advanced microelectronics. McMahon said the company has received support from five of the top aerospace and defense firms and is partnering with two of them on "joint proposals to embed our electronics into their systems."
Bifrost Will Generate Martian Landscape
Charles Wong, the CEO and co-founder of Bifrost, which helps AI developers generate labelled datasets faster, announced Wednesday that it will be working with JPL to generate synthetic Martian terrain with the aim of helping to achieve the dream of safely landing a helicopter on Mars. Wong said the company is also in talks with Rolls Royce to enable new capabilities in aerospace.
Holos Will Bring Its Virtual Reality Training to the Air Force, IAI
The Madison, Wisconsin-based company Holos aims to "give people agency over the virtual experience" so that they can create immersive education and training environments without having to outsource to a firm.
The company received a $750,000 small business innovation grant from the U.S. Air Force to work on developing a virtual maintenance and repair training system for the F-35 out of Southern California's Edwards Air Force base. It's also contracted to develop a prototype to integrate the command and control of space, air and cyber assets for the U.S. Air Force. Holos also announced that it will be working with IAI to explore developing a next generation multi-domain command and control system powered through AR and VR that can be used for training.
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Peter Pham Is Not Afraid to Die. How One of LA's Preeminent VCs Became Obsessed with COVID
Feb 23 2021
As Thanksgiving approached, Los Angeles Mayor Eric Garcetti implored residents to stay home and halt all nonessential travel as COVID-19 cases skyrocketed.
But on Thanksgiving Day, Peter Pham, one of L.A.'s most prominent early-stage investors and the co-founder of Science Inc, a Santa Monica startup studio and early-stage venture fund that manages over $100 million and recently launched a $310.5 million SPAC, posted a selfie of himself atop Las Vegas' High Roller ferris wheel.
He was clutching a can of Liquid Death, the bad boy-themed canned water brand that has improbably become Science's buzziest startup. Pham guzzles six cans a day, because he says he does not trust municipal tap water.
"I'm not afraid of dying," Pham told me recently. "There's risk for everything and COVID is a risk that I feel very confident in my ability to deal with. I could be wrong and that's OK. I am OK if I fucked up and I die from it."
<p>Pham has been transfixed by COVID since March, often tweeting dozens of times a day and sometimes much more – about his aversion to lockdowns and school closures, blockbuster treatments the government is allegedly ignoring, and the rocky vaccine rollout. He has also made it his mission to help distribute millions of PPE to medical workers. </p><p>"I like to go deep on things, like OCD-type deep," he said. "I like to learn and I like to fix things. I can get obsessed."</p><p>Pham stands out from most, <a href="https://www.sequoiacap.com/article/remembering-don-valentine/" rel="noopener noreferrer" target="_blank">but certainly not all </a>VCs – who strive to remain as bland and non-controversial as possible, according to Tom Nicholas, a Harvard Business School professor who wrote the book, <a href="https://www.hup.harvard.edu/catalog.php?isbn=9780674988002" rel="noopener noreferrer" target="_blank">VC: An American History</a>.</p><p>"Being neutral makes sense in an industry where investments are frequently syndicated," said Nicholas. "There's a lot of downside to being a contrarian and very little upside." </p><p>Pham says he does not care about being liked or offending others.</p><p>"It's opt-in, dude," he said. "If you don't like it, don't fucking follow me."</p><p>Pham says his tweets are a perfect reflection of his personality, which he admits can be scattered. But it is more than worth it, he says, because he is intensely loyal and "goes to the mat" for friends, colleagues, and founders that Science is backing.</p><p>"You know what you're going to get with me," he said. "You're going to get an erratic person who's passionate beyond belief."</p><p>Pham has scored the sort of exits that give him the license to speak his mind in the elite venture world, none bigger than the Dollar Shave Club, the direct-to-consumer razors and grooming startup that put Science on the map when it was bought by Unliever for $1 billion in 2016.</p><p class="shortcode-media shortcode-media-rebelmouse-proxy-image shortcode-media-rebelmouse-image image-crop-16x9">
<img type="lazy-image" data-runner-src="https://dot.la/media-library/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTY3NDI2Ny9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYzMjg4NTE1M30.cbFzaCkEsSmkM9DPfU5C5zapRcxRY_0kt8le_wSEQMo/image.jpg?width=1245&coordinates=0%2C90%2C0%2C450&height=700" id="4ae50" class="rm-shortcode" data-rm-shortcode-id="820cce2d9e3c3b78a2d426fb6c714365" data-rm-shortcode-name="rebelmouse-image" alt="Peter Pham" data-width="1245" data-height="700" />
<small class="image-media media-caption" placeholder="Add Photo Caption...">Peter Pham is one of L.A.'s most prominent early-stage investors and the co-founder of Santa Monica venture fund Science Inc.</small>
</p><p>"Peter is definitely wired differently than most VCs I've met," said Michael Dubin, founder of Dollar Shave Club, "I think of Peter as an expert networker and fundraiser. He's highly social. He loves people. He's the first one on the dance floor, as he says on his Twitter bio."<br/></p><p>Dubin says Pham is not the sort of investor to labor over the details of a company. Instead, Pham stands out for two qualities – he is a gifted "hype man," which is very useful when you're trying to build any company but especially consumer brands. And most of all, he possesses probably the most valuable skill in tech: The ability to quickly raise vast sums of capital.</p><p>"He is incredible at raising money," Dubin said. "When you're a VC looking to invest in companies and Peter Pham calls you, you definitely pick up the phone and listen to what he says. It doesn't mean you believe him, but you definitely pick up the call."</p><p>To Dubin, it makes sense that Pham has been consumed with trying to find light at the end of the COVID tunnel. </p><p>"The way Peter's brain is wired, it doesn't surprise me he is on the leading edge of trying to find helpful interpretations," Dubin said, before pausing to add: "It doesn't make him right. He's not Dr. Fauci."</p><h2>'The Biggest Scandal in the History of COVID'</h2><p>Pham talks frequently about his "research" and the hours he devotes to pouring over scientific papers even though his scientific training is limited to majoring in biology and pre-medicine during his undergraduate years at the University of California, Irvine. He planned to be a doctor but changed his mind junior year when he decided it required too much structure.<br/></p><p>"I was premed, so I actually understand science," he said. </p><p>Pham has been especially vocal about the antiparasitic drug Ivermectin, which he went so far as to give to his housekeeper's ailing 80-year-old friend, which he <a href="https://twitter.com/peterpham/status/1358880252810809349?s=20" rel="noopener noreferrer" target="_blank">shared on Twitter. </a></p><p>"It's a cheap drug that clearly is helping," Pham said. "That's been my crusade for the last couple of months."</p><p><a href="https://www.thelancet.com/journals/eclinm/article/PIIS2589-5370(20)30464-8/fulltext" rel="noopener noreferrer" target="_blank">A recent paper in the Journal Lancet</a> found "limited evidence" that Ivermectin was effective in treating COVID patients. <a href="https://www.fda.gov/animal-veterinary/product-safety-information/faq-covid-19-and-ivermectin-intended-animals" rel="noopener noreferrer" target="_blank">The FDA has warned people </a>not to take the drug because it has not been tested outside of the lab. </p><p>Pham has no such patience, posting frequently that the drug needs to be widely distributed immediately. </p><p>"That will go down as the biggest scandal in the history of COVID," he declared.</p><p>Last month, amidst the chaotic vaccine rollout in L.A. County, Pham shared that he devoted a day to visiting five vaccination sites and more than 30 hours researching and talking to friends in health care.</p><p class="shortcode-media shortcode-media-rebelmouse-proxy-image">
<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vbWVkaWEucmJsLm1zL2ltYWdlP3U9JTJGNWY3YjljNDAyMjFjMzk0NDIwZTVkZGQ4JTJGNjYxeDM5MSUyRjFiMTVlMTRmZmJkNzMzYzE1ZjBhZTA4MGQ3MDg5ZDMxJTJGUGhhbSUyQ19KYW4uXzE1JTJDXzIwMjEucG5nJmhvPWh0dHBzJTNBJTJGJTJGdHJlbGxvLWF0dGFjaG1lbnRzLnMzLmFtYXpvbmF3cy5jb20mcz0xMjUmaD0wN2IxMTM2MzcwNWZhM2VjZGIyNzRhYzcwOTkxNGU2Njg5ZDFhZDBiZjU4NDdmMTAxMzQ1ZDA3YmViMGYzNmI4JnNpemU9OTgweCZjPTQwOTM0NTgwNTYiLCJleHBpcmVzX2F0IjoxNjYwNzg5Mzk3fQ.CANWzqUwpgLypVD32ePfjc5i5Zg4CHlDwZxHa-XF-bY/img.jpg" id="f7557" class="rm-shortcode" data-rm-shortcode-id="e8c68d8b9e238b8625b0dbea5d6e5ea5" />
</p><p>Asked how he has so much time to devote to COVID, Pham said that he stays up until 3:30 a.m. every morning and only sleeps four hours a night.<br/></p><p>"My partners are amazing and they know that I like to help people," Pham said. "Making money is not my goal in life, but I'm not neglecting my startups and my company."</p><p>Michael Jones, the former MySpace CEO who recruited Pham to work at Science Inc. in 2011, says he has no concerns about Pham's work habits.</p><p>"Peter has his own unique style of working, Jones said. "He complements our firm in a really unique and special way that I think benefits a lot from our investors."</p><h2>'Sit This One Out;' Other Prominent Investors Push Back</h2><p>In early March, Pham hosted his exclusive annual gathering of top VCs at Gjelina, a tony restaurant in Venice. The guests of honor were the <a href="https://www.bloomberg.com/news/articles/2020-01-28/coupon-duo-now-worth-1-5-billion-after-honey-s-sale-to-paypal" rel="noopener noreferrer" target="_blank">suddenly very wealthy</a> founders of Honey, an L.A. startup that sold to Paypal for $4 billion at the end of 2019. <a href="https://dot.la/montgomery-summit-santa-monica-2645365855.html" target="_self">Pham hoped that the conversation would stay focused on the dinner's purpose</a> – raising money – rather than the mysterious virus that by then was consuming people's attention.</p>
<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTY3NDI1NS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0MTg2ODE2OX0.GFto7z0oI3oME8ilRKPK7sbu83G-RZBcJd_r_BY2T0E/img.png?width=980" id="83270" class="rm-shortcode" data-rm-shortcode-id="e9a59eb2315a2864111e36077a1d1e56" data-rm-shortcode-name="rebelmouse-image" data-width="485" data-height="662" />
<p>In the early days of the crisis, Pham repeatedly played down the seriousness of COVID, arguing that it only affected the old and sick, something Balaji S. Srinivasan, an angel investor and entrepreneur and former general partner at Andreessen Horowitz, pushed back against.</p><p>Pham now freely admits he underestimated the threat of COVID and he is certainly not the only one to do so, but he says the important thing is to learn from new information when it becomes available.<br></p><p><em>"</em>I didn't think it would be that bad in March and obviously I was wrong," Pham said. "I'm not dogmatic in anything."<br></p><p>To Pham's credit, in March he also started raising money in the tech community to buy and distribute badly needed PPE as a founding member of <a href="https://c19coalition.org/" target="_blank">C19 Coalition,</a> which has delivered more than one billion units of masks, face shields, and other equipment.<br></p>
<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNTY3NDI1My9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1ODI3ODI0OX0.12Jq7mRP2Kk5XoMCjTyCX4gvyWqDpn4Q8sAaQ-N8Dns/img.png?width=980" id="3a754" class="rm-shortcode" data-rm-shortcode-id="d5f757b89acf22e9d455ede378ebdab9" data-rm-shortcode-name="rebelmouse-image" data-width="1198" data-height="606" />
<p>But those early overly rosy assessments have not deterred Pham from continuing to downplay the risk from COVID, advocate for herd immunity, and accuse the media of hyping up the threat.<br></p><p>In August, he tweeted that the worst of the pandemic was over, when U.S. case numbers were a third what they were this month. In November, he said hospitals "will continue to be fine," a month before ICU capacity in Southern California plummeted to zero percent.</p>
<p>Chris Sacca, a venture investor best known for being a judge on Shark Tank who is a limited partner in Science, shot back around the time ICU was hitting 0% capacity, telling Pham to "sit this one out."</p><p>Pham says he can't recall what he was tweeting about. He deleted the original tweets that Sacca and Srinivasan were referencing.<br/></p><p>"I should autodelete my tweets, to be honest, but I use it for search because my memory is so bad," Pham said. "I have ADHD with the memory capacity of the bottom 16th percentile of the population."</p><p>Pham does not appear to be exaggerating. Two weeks after we spoke for over an hour on two Zoom video calls, Pham had no memory of us ever talking. </p><p>"My memory is horrible," he said.</p><p>Pham says his lack of memory is one of the reasons he is perpetually upbeat.</p><p>"I'm always optimistic because I forgot what happened yesterday," <a href="https://twitter.com/peterpham/status/1345990568850018304?s=20" rel="noopener noreferrer" target="_blank">he tweeted last month. </a></p><p>He says his lack of memory is also why he is so blunt and unfiltered. </p><p>"People are trying to create this persona online, which is weird and a lot of work and I think you have to have a good memory, and I don't have that," Pham said. "I don't care. I just say it."</p><p>The one thing Pham never talks about is family, which he says he avoids doing for privacy reasons, especially as <a href="https://twitter.com/peterpham/status/943315387088650241?s=20" rel="noopener noreferrer" target="_blank">he has gotten more involved with the sometimes shadowy world of cryptocurrency</a>. He also won't reveal his age or the city where he grew up for "security reasons." </p><p>Pham may not fear COVID, but he lives in constant fear of being hacked. </p><h2>The Embodiment of the American Dream</h2><p>Pham often says he has lived the embodiment of the American dream and it is not hard to see why. </p><p>His father served as a fleet commander for the South Vietnamese Navy during the Vietnam War and in 1975, weeks after the fall of Saigon, <a href="https://www.npr.org/2010/08/31/129484369/forgotten-ship-a-daring-rescue-as-saigon-fell" rel="noopener noreferrer" target="_blank">the U.S. Navy evacuated Pham's parents</a> and four older siblings to California. </p><p>Pham was born in a refugee camp about a month later. </p><p>The family grew up poor in a cramped one-bedroom apartment, the reason he says he has been dismayed many public schools have closed their doors during the pandemic. His parents both became social workers while the siblings took on odd jobs to put food on the table. </p><p>Pham was a straight-A student in high school and applied to only one college, the University of California, Irvine, which he picked because it was close to home.</p><p>He put himself through college, waiting tables at Red Lobster, selling computers at Circuit City and helping people install Windows operating software on their computers. </p><p>Pham found he was much more interested in tech than being a doctor and after adding a business management minor to his biology major, he bounced around 13 enterprise software and hardware startups for the first nine years of his career in business development.</p><p>Biz dev, as it is known, is largely sales and marketing. Above all, it requires hustle and building and maintaining big networks of individuals who can help your company – things Pham discovered he could do with ease. </p><p>His first major success came in 2005 when his friend Alex Welch recruited him to do biz dev at Photobucket, an early digital photo sharing platform <a href="https://www.theverge.com/2019/6/24/18701132/photobucket-photo-storage-pricing-flickr" rel="noopener noreferrer" target="_blank">that is now mostly forgotten.</a> Pham was hired as the fifth employee and three years later News Corp. acquired the company for $300 million. </p><p><a href="https://techcrunch.com/2010/05/28/billshrink-ceo-peter-pham-leaves-to-become-an-eir-at-trinity-ventures/" rel="noopener noreferrer" target="_blank">Pham went on to start BillShrink,</a> a website to help consumers save on cell phone bills, credit cards, and gas. It was <a href="https://techcrunch.com/2012/09/06/mastercard-buys-loyalty-rewards-and-personalized-offers-company-truaxis-formerly-billshrink/" rel="noopener noreferrer" target="_blank">eventually bought by Mastercard</a>.</p><p>After those exits, Pham had the credibility to raise major sums of capital from top Sand Hill Road firms — and that is exactly what he did in 2010 when he teamed with <a href="https://www.fastcompany.com/1784823/bill-nguyen-the-boy-in-the-bubble" rel="noopener noreferrer" target="_blank">serial entrepreneur Bill Nguyen</a> to start Color – named for their love of the Apple logo — the photo-sharing app. </p><p>"He's probably the best sales person I've ever met in my life, which is saying a lot because people think I'm a pretty good salesperson," Pham said. "He can convince you of anything."</p><p>Pham and Nguyen quickly amassed $41 million from Sequoia Capital, Bain Capital and Silicon Valley Bank before they ever launched a product. That was far more than Instagram, which was founded the same year with<a href="https://www.crunchbase.com/funding_round/instagram-seed--669a7170" rel="noopener noreferrer" target="_blank"> just half a million in seed funding,</a> or about what Color spent just on acquiring the domain names color.com and colour.com. </p><p>Color also rented a cavernous office with a hand-built skateboard ramp in Palo Alto with room for 160 employees even though they had fewer than 40. </p><p><a href="https://www.nytimes.com/2011/06/20/technology/20color.html" rel="noopener noreferrer" target="_blank">The New York Times featured the company</a> as a prime example of another bubble in start-up investing. (It also warned about Airbnb in the same article, which had a much better fate.) </p><p>Unlike Instagram, which was built around users seeing photos of accounts they chose to follow, Color users viewed photos by location. But it turned out that was not what users wanted at all and the 2011 launch was a dud. Nyugen fired <a href="https://techcrunch.com/2011/06/14/troubled-startup-color-loses-cofounder-peter-pham/" rel="noopener noreferrer" target="_blank">Pham three months later</a>. Pham said he quit. </p><p>Apple <a href="https://appleinsider.com/articles/12/11/19/apple-purchase-of-color-labs-verified-in-bizarre-lawsuit" rel="noopener noreferrer" target="_blank">bought Color in 2012</a> for $7 million <a href="https://techcrunch.com/2012/11/19/color-labs-and-bill-nguyen-sued-by-ex-employee-alleging-retaliation-emotional-distress/" rel="noopener noreferrer" target="_blank">amidst bizarre allegations of an abusive work environment</a>, which was not only far less than the $167 million valuation Color had raised at in 2010 but also a long ways away from the $200 million Google had offered to buy the company in early 2011, <a href="https://techcrunch.com/2011/07/21/google-tried-to-buy-color-for-200-million-color-said-no/" rel="noopener noreferrer" target="_blank">according to Techcrunch. </a></p><p>Reflecting on his Color tenure now, which is omitted from his <a href="https://www.science-inc.com/people.html" rel="noopener noreferrer" target="_blank">official bio</a>, Pham says he barely knew Nyugen before they started the company – a mistake he would never make again – and describes their partnership as a "shotgun marriage."</p><p>"It wasn't a marriage that lasted," he said. "We were different people." </p><p>Pham defends the premise of Color as ahead of its time, pointing out that <a href="https://www.lifewire.com/how-to-use-snapchat-maps-4172884" rel="noopener noreferrer" target="_blank">Snap launched a map feature two years ago</a> that emulated what Color was trying to do. </p><p>"We were just early, and of course execution of this thing," Pham said. "Shit happens. Startups fail. It just didn't work."</p><p>But it did not take Pham long to get another job offer. Three months after his departure, Pham bumped into his old friend Jones at the Lobby Conference, an invitation-only consumer and enterprise tech gathering held annually in Maui. </p><p>They had been kicking around the idea for years of creating a Santa Monica version of Bill Gross' longtime startup studio, Idealab, which is in Pasadena.</p><p>"I wanted to do Idealab, but on the west side of town, because I like the beach," Pham said. </p><p>Up to that point, Pham and Jones had been consumed with other startups, but now they were both jobless and Pham wanted to move back to L.A., where he grew up and his family lived. </p><p>"Most people thought it was insane to leave the gold rush in the valley at that time," Pham said. "But what we wanted to do is be closer to building the business, not just writing the check."</p><p>Jones says he had no reservations about teaming with Pham, despite him only being a few months removed from being fired from Color. </p><p>"I wasn't at Color and I don't really know any of the background of Color," Jones said. "What I knew is that I knew Peter for a very long time."</p><p>Jones also recruited his longtime attorney Greg Gilman and former Myspace colleague Tom Dare to round out the founding team. <a href="https://techcrunch.com/2011/11/16/mike-jones-launches-betaworks-like-technology-studio-science-in-la-with-10m-from-eric-schmidt-and-others/" rel="noopener noreferrer" target="_blank">Science Inc.</a> launched with $10 million in venture backing from investors including Google CEO Eric Schmidt and another $30 million from the Hearst Corporation. </p><p>The now defunct Gawker tech gossip spinoff, Valleywag, <a href="http://valleywag.gawker.com/why-the-hell-are-people-still-giving-this-guy-money-1589309820" rel="noopener noreferrer" target="_blank">marvelled at how quickly Pham was able to escape the Color fiasco. </a></p><p>"Why the hell are people still giving this guy money?" reporter Sam Biddle asked. "In just a couple short years, Pham has failed upwards, meteorically, from industry laughingstock to managing hundreds of millions of dollars."</p><p>But Pham soon proved the doubters wrong. </p><p>In its first year, Science had the sort of breakout success that it has never been able to top in the decade since. </p><p>Science incubated a small startup that sold razors and grooming supplies direct to consumers with quirky marketing campaigns with a $100,000 check. The next year, Kleiner Perkins Caufield & Byers led a $1 million seed round. In 2016, Unilever acquired Dollar Shave Club for $1 billion and yielded its founder, Dubin, <a href="https://www.celebritynetworth.com/richest-businessmen/ceos/michael-dubin-net-worth/#:~:text=Michael%20Dubin%20net%20worth%3A%20Michael,delivery%20company%20Dollar%20Shave%20Club." rel="noopener noreferrer" target="_blank">a reported $200 million payday. </a></p><p>"Peter was instrumental in helping us fundraise," Dubin said. "He knows the art and science of raising money. He's extremely connected. We just would not have raised the money we did if it had not been for him."</p><p>Science has also scored big wins with <a href="https://dogvacay.com/" rel="noopener noreferrer" target="_blank">DogVacay</a>, which <a href="https://www.geekwire.com/2018/inside-rovers-dogvacay-deal-former-rivals-went-one-brand-not-two-acquisition/" rel="noopener noreferrer" target="_blank">merged</a> with its larger competitor Rover in 2018, and <a href="https://famebit.com/" rel="noopener noreferrer" target="_blank">FameBit</a>, an influencer marketing platform that was acquired by Google in 2016 before being <a href="https://www.entrepreneur.com/article/352817" rel="noopener noreferrer" target="_blank">shut down last year. </a></p><p>These days the firm's buzziest startup is decidedly low tech. Liquid Death, featuring the slogan "Murder Your Thirst," packages Austrian mountain water in aluminum cans. Pham says he was drawn to Liquid Death <a href="https://www.science-inc.com/liquid-death.html" rel="noopener noreferrer" target="_blank">after a friend showed him the brand's edgy Facebook page.</a> </p><p>Science incubated the brand in 2019 and led the $2.26 million seed round at a pre-money valuation of $5 million. In September, Liquid Death raised another $23 million Series B funding at a pre-money valuation at $82 million.</p><p class="shortcode-media shortcode-media-rebelmouse-image">
<a href="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzE4MDczNi9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY1ODY4MTM4M30.GD4L2WukwskkCFy5kF1VVrytOxWlnTpik-lffGvj9XY/img.jpg?width=980" target="_blank"><img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yMzE4MDczNi9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY1ODY4MTM4M30.GD4L2WukwskkCFy5kF1VVrytOxWlnTpik-lffGvj9XY/img.jpg?width=980" id="69f64" class="rm-shortcode" data-rm-shortcode-id="609505c987ebcd33fd9cbbaf7ffada68" data-rm-shortcode-name="rebelmouse-image" /></a>
<small class="image-media media-caption" placeholder="Add Photo Caption...">Science Inc.-backed Liquid Death packages Austrian mountain water in aluminum cans with bad boy-themed marketing.</small>
</p><p>Mike Cessario, the creative director turned founder and CEO of Liquid Death says the first time he met Pham at Science's offices he struck him as "a really smart guy who talks a million miles a minute."<br/></p><p>"Peter has stepped up with us to make sure we can get the best deals we can get where we are not being taken advantage of by other investors," Cessario said.</p><p>Pham is rarely seen without a tall can of Liquid Death by his side. He says he consumes six a day because is worried about drinking the tap water where he lives.</p><p>"I don't trust the water in Manhattan Beach," Pham said. "It's got <a href="https://www.epa.gov/pfas/basic-information-pfas" rel="noopener noreferrer" target="_blank">PFAS</a> in it – plastics forever. If you don't know what that is, Google it. It's going to blow your mind."</p><p>Unlike with Nyugen, in Jones Pham says he has found someone who he will be friends with for life. Pham says he has finally found the role that perfectly suits his unique personality. At Science, he is in-charge of business development. Crucially, he has no direct reports.</p><p>"I don't like managing people," Pham said. "I was CEO once. It's not my thing."</p><p>Last month, <a href="https://dot.la/science-inc-spac-2650147068.html" target="_self">Science Inc. announced that it was launching a $270 million SPAC</a> to focus on direct-to-consumer, mobile and entertainment companies. </p><h2>'It's All Over in 60 Days' </h2><p>These days Pham has been traveling to Miami, which comes with the dual advantages of being a place unencumbered by the lockdowns he hates and also home to a rapidly growing startup scene that he says reminds him of L.A. 10 years ago. Ever the networker and promoter, Pham hosted a sunset cruise there this month for tech founders and investors where they sipped on Liquid Death. </p><p>Pham continues to advocate for Ivermectin and has also been pushing the yet-to-be-approved <a href="https://twitter.com/Novavax" rel="noopener noreferrer" target="_blank">Novavax</a> Vaccine. He enrolled in the vaccine's phase III trial and says it is his "favorite" vaccine because it is easier to store and can be used on immunocompromised patients. </p><p>Far from a distraction, Pham says his passion about COVID and helping secure PPE has brought the unintended effect of further expanding his professional network. </p><p>"It opened up a whole new network of entrepreneurs and spaces and industries that we're now looking into investing in," Pham said. "It all comes full circle. It turns out if you do good things in life, you get rewarded."</p><p>While so many Americans are relentlessly dreary after nearly a year of the pandemic, Pham is more sanguine than ever.</p><p>"I still am optimistic it's all over in 60 days," he tweeted this month.</p><p>"We will all be having easter dinner with family," he added last week. </p><p><em>Lead image by Eduardo Ramón Trejo.</em></p><p><em>Editor's note: This story has been updated with Science's closing amount for its SPAC and a clarification from Pham on Color. </em></p>From Your Site Articles
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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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzIyNS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1OTQ3MjQ2OH0.JYCNMjYvosYa5SI7701CH_jMFbeFdMcRCChXt442cq0/img.png?width=980" id="4a086" class="rm-shortcode" data-rm-shortcode-id="f2f18f0bc4400a388e43736c560ff87f" data-rm-shortcode-name="rebelmouse-image" alt="PopShop Live logo" data-width="686" data-height="128" />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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzIyOC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2MzI5MjYwMn0.h7Nq7GiwXTcg_7Io5WEXblFX0rWQHxn69RzluTh7n_Q/img.png?width=980" id="44eea" class="rm-shortcode" data-rm-shortcode-id="d02c4cad650c987721ff91ee939a5bf7" data-rm-shortcode-name="rebelmouse-image" alt="Scopely logo" data-width="361" data-height="93" />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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzIzNC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYyMDQ4NTgyMn0.caggOCkGNRp4GE2mV_BvBsOt-3eTs6wLqCHAXmK9IpQ/img.png?width=980" id="3dbf5" class="rm-shortcode" data-rm-shortcode-id="32c857792f8d2b98b3afefa5790b7d45" data-rm-shortcode-name="rebelmouse-image" data-width="2400" data-height="546" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzMxNi9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1NjM4MjQ5Mn0.XSHQfru9tTpdeBqd_ecb--8DiZg_vdyOtF9ZV9zAG78/img.png?width=980" id="f1665" class="rm-shortcode" data-rm-shortcode-id="ccc0b78dd8ae8cda9bf95979e83506fd" data-rm-shortcode-name="rebelmouse-image" data-width="455" data-height="111" />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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzQyMS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY0MzIyNTA2MH0.Q7liPP3eMIINmacHCWZDp3P2xJjIx19nAJL3r0PTzV0/img.jpg?width=980" id="93955" class="rm-shortcode" data-rm-shortcode-id="434dc887e08ba641d20ff886ff63fcc1" data-rm-shortcode-name="rebelmouse-image" data-width="800" data-height="400" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzUxNS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1MDM4ODMxNH0.JhY8gLSI7YWbw_8vxTM3IQOf8NZELdrh8bWdGG8mB_U/img.png?width=980" id="1fbcd" class="rm-shortcode" data-rm-shortcode-id="a8d5aef9e041c3700337626ee2c76f7a" data-rm-shortcode-name="rebelmouse-image" data-width="970" data-height="198" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzUxOC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY3NTUwOTY4NH0.6oMIDYTnTsrnIqM0CImdCr1hryg1cAsjGc5DJGznzRo/img.png?width=980" id="bd56b" class="rm-shortcode" data-rm-shortcode-id="a75fc932a261d3eaf7302b99b52a192b" data-rm-shortcode-name="rebelmouse-image" data-width="796" data-height="536" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzUyNy9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY2NTQwOTM5NH0.ccTFYR5uzxflJ9M_IPQdCkvQD3DlHSWfrWeqsWQKw-U/img.jpg?width=980" id="eedcc" class="rm-shortcode" data-rm-shortcode-id="21a26c482b5299dee4186797f38b3815" data-rm-shortcode-name="rebelmouse-image" alt="CloudKitchens" data-width="1000" data-height="400" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzYwMy9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY1NDI3MjkyNX0.l7SX-f7x7WXYLSJxOFh9IBYPQ9UHyAGYlLwm-VqcSEM/img.jpg?width=980" id="28ddc" class="rm-shortcode" data-rm-shortcode-id="643a9b510e5eab16ebdf2169ab66b44d" data-rm-shortcode-name="rebelmouse-image" data-width="1200" data-height="800" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzYwNi9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYzMTk1OTc5Nn0.6Y7vMFyH1FwClW-QNJ6sUGzhq1Q9IuNP9-4-koT1LqA/img.png?width=980" id="5afc4" class="rm-shortcode" data-rm-shortcode-id="59830cb360eabf85fffe19a6a0c4af87" data-rm-shortcode-name="rebelmouse-image" alt="Savage X Fenty logo" data-width="3637" data-height="492" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzYwOS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY3MzQ1MzE4OX0.fS5XtGx4M-tqWecrth6NCHawGSg2aSkb-yR-cY3wbtU/img.png?width=980" id="c6334" class="rm-shortcode" data-rm-shortcode-id="aa7476f8a6216fed6b372d8a59876a6b" data-rm-shortcode-name="rebelmouse-image" data-width="600" data-height="600" />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://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vbWVkaWEucmJsLm1zL2ltYWdlP3U9JTJGaW1hZ2VzJTNGcSUzRHRibiUzQUFOZDlHY1NIWXNBeFVWZ1J6a2VJVDZzWE5xU0tPVWg1Ri1qU2V0ZnV1dyUyNnVzcXAlM0RDQVUmaG89aHR0cHMlM0ElMkYlMkZlbmNyeXB0ZWQtdGJuMC5nc3RhdGljLmNvbSZzPTE4OSZoPWMyM2U5ZGI3MmI2OWVlYWE1ZGNjMDIzNTZmYjgwZGI3NTkxNWIwZDdhOGFhNTk1YzQzYzRhMzYzNjIzZmEzZGQmc2l6ZT05ODB4JmM9Mjg2MzQwMTM1NCIsImV4cGlyZXNfYXQiOjE2Mzg2MDA1NjR9.qWy95wwhg8i2C_ZX-ba2HEivjNkIw8hNzNcMCrNBqfw/img.jpg" id="acba9" class="rm-shortcode" data-rm-shortcode-id="fc5d20fa9685e883e71b09dc07ace838" 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://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vbWVkaWEucmJsLm1zL2ltYWdlP3U9JTJGaW1hZ2VzJTNGcSUzRHRibiUzQUFOZDlHY1FPWGJReDlKdmF3b0hXc096dERXRkpVeTRERW5qalVITElidyUyNnVzcXAlM0RDQVUmaG89aHR0cHMlM0ElMkYlMkZlbmNyeXB0ZWQtdGJuMC5nc3RhdGljLmNvbSZzPTcwMSZoPWM5MGI4NjJjMTM0NTExYjcwN2Y2ZTg0NDAzMjNmNGYzNzUyOGIwNTM0N2IzZTc2MmExNzUwYmZmZmRjZDczYjEmc2l6ZT05ODB4JmM9NDAzMDk2MjAwMCIsImV4cGlyZXNfYXQiOjE2NzAxMDk3MjR9.IFhgk0btjnI-GbHb_4Dh9bBcK999VMoWweZCnaGGLZ8/img.jpg" id="22354" class="rm-shortcode" data-rm-shortcode-id="76fa7d61ae8f1057d110501623f42f54" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzY5MS9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTY3NDQ1NzU3OH0.PfJrZ014HYeuwB0xI5t6mhpwsiliDvJnPMMoaraNAdE/img.jpg?width=980" id="ba4d9" class="rm-shortcode" data-rm-shortcode-id="323b792ef8f96700b01d758590b4cc27" data-rm-shortcode-name="rebelmouse-image" data-width="1200" data-height="627" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzY5Mi9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYyMzQ3MDk0N30.p4LJPQDZWOPrPH4jbEg19n-3ez5Ryle5LW1m-x59a0Y/img.png?width=980" id="5a9ee" class="rm-shortcode" data-rm-shortcode-id="d28995a5bd865b3e5de61f2834d42da2" data-rm-shortcode-name="rebelmouse-image" data-width="500" data-height="131" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzY5NC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2ODI4NTgyN30.bZeKd8Z_en55nxL_6LdzNaL1FNUT01e5h2Q1SO-_im4/img.png?width=980" id="f2c6d" class="rm-shortcode" data-rm-shortcode-id="d6c15a5a5ff803dd20846e5ce2d40c6b" data-rm-shortcode-name="rebelmouse-image" data-width="648" data-height="648" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzY5NS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY0NzAwNTE2NH0.UmVYzWRXxa5Hi_j3bszZdQsN-cW6sQu6vBj4y2qxz1E/img.png?width=980" id="9c503" class="rm-shortcode" data-rm-shortcode-id="c8ec5c4ea039f60cbb66f7b9241f6697" data-rm-shortcode-name="rebelmouse-image" data-width="400" data-height="132" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzY5OC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYyNTYyMTc2Mn0.8lwp3rJYqkee108lZxymVA0Z0FppunMPnCU7prsw8xA/img.png?width=980" id="745c0" class="rm-shortcode" data-rm-shortcode-id="2ea3003764946798b78c5cc4399b6c75" data-rm-shortcode-name="rebelmouse-image" data-width="350" data-height="200" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzY5OS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYzMzg4NTI5M30.WUAoRXYSNkJmtqYs1HucZ0lX-koAeXYj5I0oRrWsibk/img.png?width=980" id="36c62" class="rm-shortcode" data-rm-shortcode-id="65747a7b1adb7ff183c225194acf1ae6" data-rm-shortcode-name="rebelmouse-image" data-width="770" data-height="400" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzc4NC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY3MzY1NTY2NH0.id3F2ONeIMzdb1wPYc2Cae4gUZ2I6zas4DtLgEhMNA8/img.png?width=980" id="3405b" class="rm-shortcode" data-rm-shortcode-id="7f9c7de6dd3ebab0fcfb54ed26010b8e" data-rm-shortcode-name="rebelmouse-image" data-width="482" data-height="104" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzc4Ni9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1MTUzMDk5MX0.xEVC_2nNgGNHcUlPZc1932EpkrYJbCpShGVP6Pyc1wk/img.png?width=980" id="2ddde" class="rm-shortcode" data-rm-shortcode-id="08e6efa629173aa520b025475c108b99" data-rm-shortcode-name="rebelmouse-image" data-width="601" data-height="226" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzc4Ny9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY3MDY2MDk5Mn0.ky2E4So36PfYFVd9GjX9HL32nxJlwQ9cEkQQCmmK5pI/img.png?width=980" id="9718b" class="rm-shortcode" data-rm-shortcode-id="e60740b87fe8611f571fa5e15072c5ec" data-rm-shortcode-name="rebelmouse-image" data-width="905" data-height="195" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzc4OC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYzMjAzNTgyNX0.bcGRZ8fyJOQ4cNXID6Ls8vCdV3KRyxI5Hqjxu7O4Dmc/img.png?width=980" id="4531b" class="rm-shortcode" data-rm-shortcode-id="2b3b77d816b05772a7e66235aa3663b6" data-rm-shortcode-name="rebelmouse-image" data-width="1000" data-height="353" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzc5MC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTYyNzIxNDk4Nn0.QutV5lS2Yh1lC7cnnX4MtX2XxvLHaewK4WNIGO7zX5M/img.png?width=980" id="5c748" class="rm-shortcode" data-rm-shortcode-id="e684d5f9269f7a81569d933c79bab5bd" data-rm-shortcode-name="rebelmouse-image" alt="Tala" data-width="600" data-height="220" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzc5My9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2NDA4OTQ2Nn0.IIPwkBI2M3OMR-fgnM47TLWe5yoOsVZe6tvPwVCI3dU/img.png?width=980" id="c51f8" class="rm-shortcode" data-rm-shortcode-id="d156354bd8c547ab4c02dba9bcb96acf" data-rm-shortcode-name="rebelmouse-image" alt="ServiceTitan" data-width="908" data-height="567" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzgxNi9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1MzY5OTU2OX0.-z16s658TU1QIbo0mcqGdnrB4Uz0Sj6eRRJgdkyw3fU/img.png?width=980" id="7ba75" class="rm-shortcode" data-rm-shortcode-id="c0d58dce0c266abea711907d8672c260" data-rm-shortcode-name="rebelmouse-image" data-width="535" data-height="535" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzg2NS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2NDM1MTU3N30.gZiFa2FICgByJt8s93ni59ipDb8K-odSv0zjRA8B0Vg/img.png?width=980" id="69e4c" class="rm-shortcode" data-rm-shortcode-id="3fffe0b360cf6b88990cd762cda7ae7c" data-rm-shortcode-name="rebelmouse-image" alt="Emotive logo" data-width="256" data-height="256" />
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 lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5Mzg3MS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2MDgzMjY3NX0.r0Oc87K8y6t8f6Xa8l0y0gcGml_5FW2gPpD-TE6Bu7g/img.png?width=980" id="7c591" class="rm-shortcode" data-rm-shortcode-id="0b958ca5f1549ced0d0b167aba77f5fa" data-rm-shortcode-name="rebelmouse-image" alt="Everytable logo" data-width="598" data-height="124" />
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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