LA Tech Updates: Techstars Music Accelerator Seeks Startups; Wrapbook Gets $3.6M in Seed Funding; PatientPop Raises $50M

Ben Bergman

Ben Bergman is the newsroom's senior finance reporter. Previously he was a senior business reporter and host at KPCC, a senior producer at Gimlet Media, a producer at NPR's Morning Edition, and produced two investigative documentaries for KCET. He has been a frequent on-air contributor to business coverage on NPR and Marketplace and has written for The New York Times and Columbia Journalism Review. Ben was a 2017-2018 Knight-Bagehot Fellow in Economic and Business Journalism at Columbia Business School. In his free time, he enjoys skiing, playing poker, and cheering on The Seattle Seahawks.

LA Tech Updates: Techstars Music Accelerator Seeks Startups; Wrapbook Gets $3.6M in Seed Funding; PatientPop Raises $50M
Wrapbook is seeking to be the leading payroll processing platform for the entertainment industry.

Here are the latest updates on news affecting Los Angeles' startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for more.

Today:

  • 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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    Lon Harris
    Lon Harris is a contributor to dot.LA. His work has also appeared on ScreenJunkies, RottenTomatoes and Inside Streaming.
    Who’s To Blame for the Silicon Valley Bank Mess? The Internet Investigates
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    This is the web version of dot.LA’s daily newsletter. Sign up to get the latest news on Southern California’s tech, startup and venture capital scene.

    Since the collapse of SVB, federal regulators have guaranteed that SVB depositors won’t suffer any losses. For now, it seems the immediate threat of contagion has passed, as regional bank stocks started to rebound following a Monday sell-off. As Silicon Valley Bank announced its new name, Silicon Valley Bridge Bank, and FDIC-appointed president Tim Mayopoulos urged former customers to consider returning with at least some of their funds, the media and technology pundits have started to refocus their attention elsewhere.

    There’s naturally a whole active debate about whether or not the federal government’s intervention in SVB technically meets the definition of a “bailout.” But the real post-SVB fallout discussion, at least so far, has pivoted to, who specifically is to blame for SVB’s downfall? A number of potential suspects have been identified and held up for scorn and ridicule.

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    Nat Rubio-Licht is a freelance reporter with dot.LA. They previously worked at Protocol writing the Source Code newsletter and at the L.A. Business Journal covering tech and aerospace. They can be reached at nat@dot.la.
    AI robots in college
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    As AI takes over the tech sector and beyond, universities across the country have received and invested millions in AI-related research over the past several months.

    Last Thursday, the University of Southern California became the latest institution to capitalize on the AI buzz. The university announced that it’s investing $10 million in seed funding into launching the Center for Generative AI and Society. The investment will fund research specifically into “ethical use and innovation of generative AI” and how it intersects with different industries, the school said in its announcement. The center will be co-led by USC media professor Holly Willis and computer science research professor Bill Swartout.

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