LA Tech Updates: Techstars Music Accelerator Seeks Startups; Wrapbook Gets $3.6M in Seed Funding; PatientPop Raises $50M
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- Applications Are Open for Techstars Music Accelerator Program
- Wrapbook, Provider of Payroll for Productions, Unwraps $3.6 million in Seed Funding
- PatientPop, a Digital Health Marketing Firm, Raises $50 million
PatientPop Raises $50M as Demand for Online Healthcare Rises
As doctors and hospitals are scrambling to get their services online, PatientPop, a company that does just that has raised $50 million as investors bet heavily on new forms of delivering healthcare.
The Series C funding is led by HLM Venture Partners with participation from previous investors Toba Capital, Transformation Capital and Silicon Valley Bank. And it includes new investors like Commonfund and Vivo Capital.
"This is more important than ever as providers quickly adapt their digital strategy and presence to attract and retain patients, and seek the technology and tools they need to successfully operate their practice throughout the COVID-19 pandemic," said co-founder and co-CEO of the Santa Monica-based company, Luke Kervin.
PatientPop works with the patient's electronic medical record and electronic health record to connect them to doctors that best fit their needs. It also allows patients to track and book their appointments.
According to FairHealth's monthly telehealth tracker in May calls went up 9.19% compared to last year.
The platform also works with doctors to use SEO in order to have them grow their online presence and increase bookings. It also offers PatientPop Pro to make it easier for doctors to manage their marketing efforts.
"PatientPop will no doubt continue to help doctors adopt new technologies that are critical to practice success," said principal of Vivo Capital, Nathan Dau in announcing the raise.
Techstars Music Accelerator Aims for Diversity in 2021
By Nadya C/ Shutterstock
Applications for the 2021 Techstars Music Accelerator open today.
The L.A.-based program will begin on February 16th, 2021 and culminate in a demo day in mid-May. It will accept applications until November 13th.
"Now, more than ever, we need to do our part to support incredible entrepreneurs, regardless of their cultural background, economic status or physical location," wrote program director Bob Moczydlowsky in a blog post.
Techstars Music 2021 will be virtual, meaning participating startups don't have to relocate to L.A. The entire selection process will be conducted by video conference.
"As investors," Moczydlowsky's post continues, "we think this is a once-in-a-generation opportunity to build a gigantic business in music and live events. We also think it is the perfect opportunity to build a more equitable and diverse music business."
To that end, the program is committing to having 50% of its CEOs be "diverse," with a focus on Black, LGBTQ+ and female founders. This benchmark will remain in place for future cohorts as well.
The Techstars Music program is a collaboration between Techstars and several groups in the music business. This year, partner companies include Warner Music Group, Sony, Peloton and Amazon Music. Such members provide capital to the program and also help run it. Participants also get access to many other mentors from the music, tech and venture capital worlds.
Prior program participants have collectively raised over $90 million after the program, Moczydlowsky wrote.
The application portal can be found here.
Wrapbook, Provider of Payroll for Productions, Unwraps $3.6 million in Seed Funding
Wrapbook is seeking to be the leading payroll processing platform for the entertainment industry.
Wrapbook, which is seeking to be the leading payroll processing platform for the entertainment industry, announced Tuesday it has raised $3.6 million in seed funding. Equal Ventures led the round with participation from Uncork Capital and 4S Bay Partners.
"Wrapbook is the easiest way for employers to compliantly pay employees for a week of work," Wrapbook co-founder and CEO Ali Javid said in a written statement. "We are here to help employers and employees be paperless to assist with COVID-19 and be compliant [with] AB5 in entertainment and across project based industries."
The company previously raised from One Planet Ops and NYU Innovation Venture Fund in March on a SAFE (simple agreement for future equity) at a $5.5 million valuation that converted during this seed round, according to Pitchbook.
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Musicians are facing a tough road and the pandemic hasn't made life any easier. But changes are afoot that could help.
A flurry of deals between music copyright owners and streaming music's heavy-hitters may be just the first step in a process that could see "the most important copyright reform since the U.S. passed the Digital Millennium Copyright Act (DMCA) 22 years ago," according to one industry observer.
With it, artists and rights holders should be better positioned to benefit from the growing relevance of music across social media platforms, gaming consoles, virtual gyms and much more.
Lyre wants to sell Americans on clear-headed drinking with their faux bourbon and other mocktail spirits. The Australian-based company set up North American offices in Los Angeles last year and has aggressively sought to make a mark in the Golden State. And it seems to be working; the company just raised $11.5 million.
Lyre has hitched its success to the growing "sober curious" movement, focusing on health-conscious consumers with its dry month challenges. About 60% of the company's sales come from the United States and it's increasingly looking for tastemakers in Southern California to help build its brand.