Wednesday, November 7, 2018
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Cornerstone OnDemand Acquires Grovo
Santa Monica-based Cornerstone OnDemand, which develops cloud-based learning and human capital management software, said late Wednesday that it has acquired Grovo Learning, a provider of "micro-learning" content, in a deal worth $24M in cash. According to Cornerstone OnDemand, Grovo had more than 300 clients, including Gap, Hulu, Chevron, and Wells Fargo. Grovo was founded in 2010, and has offices in New York City and San Francisco. Cornerstone OnDemand said that, as part of the acquisition, it (More info...)

posted on Wednesday, November 7, 2018(Full story)


SpaceX Seeks $750M In Debt Funding
Hawthorne, California-based SpaceX, the commercial space exploration firm run by Elon Musk, is looking to raised $750M in a leveraged loan offering, according to a report on Tuesday. The loan effort is being led by BofA Merrill Lynch. The debt funding effort is apparently the company's first time it has attempted to tap into the institutional debt market.

posted on Wednesday, November 7, 2018(Full story)


Mirium Pharmaceuticals Finds $120M
San Diego-based Mirium Pharmaceuticals, which is developing treatments for rare liver diseases, announced on Wednesday morning that it has raised $120M in a Series A funding round. The funding was led by New Enterprise Associates (NEA), and also included Deerfield Management, Frazier Healthcare Partners, Novo Holdings A/S, Pappas Capital, RiverVest Venture Partners and Rock Springs Capital. The startup said its lead drug candidate, maralixibat, is aimed at treating rare cholestatic liver disease (More info...)

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Idealab's Energy Vault Launches Energy Storage Technology
Energy Vault, a startup created by Pasadena-based startup incubator Idealab, announced this morning that it has launched its utility-scale energy storage technology into commercial availability. Energy Vault's technology--which looks like a wild idea created in Minecraft--uses immense concrete blocks, which store energy from renewable energy, using the same principles of pumping and storing water for energy storage. According to Energy Vault, it already has signed a deal with the Tata Power Comp (More info...)

posted on Wednesday, November 7, 2018(Full story)


Riot Games Sued Over Discrimination
Los Angeles-based videogame maker Riot Games has been sued by a number of current and former employees, over gender discrimination, alleging that the company has stifled the promotions and pay of female employees. The lawsuit also alleges that here is "ongoing sexual harassment, misconduct, and bias" at the company, which is 80% male. The suit seeks compensation on unpaid wages, damages, and other penalties.

posted on Wednesday, November 7, 2018(Full story)


HyreCar Extends Rentals For Ridesharing Drivers Nationwide
Los Angeles-based HyreCar, which operates a marketplace which connects Uber and Lyft ridesharing drivers with dealers and others offering up vehicle rentals, said it is now open in all 50 U.S. states. The company said the expansion is a significant incraese from where it had been, which was at 34 states. The addition adds Delaware, Oklahoma, Nebraska, Arkansas, Rhode Island, New Hampshire, New Mexico, Maine, Idaho, South Dakota, Alaska, North Dakota, Vermont, Montana, West Virginia and Wyoming t (More info...)

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Parasoft Opens Up Tools To Open Source Developers
In a bid to gain better market share among developer, Monrovia, California-based Parasoft announced Tuesday that it will begin giving out free access to its entire suit of test automation software to open source developers. Parasoft develops testing automation software, typically used by enterprises to automate testing of their development efforts. Parasoft did not say how it will vet which open source projects can use it tools, only directing developers to email the company for more information (More info...)

posted on Wednesday, November 7, 2018(Full story)


Impact Expands In Singapore
Santa Barbara-based Impact, the developer of fraud protection, marketing attribution, analytics, and performance partnership management software, said today that it has opened up a new office in Singapore. Accordnig to Impact, the new office will be led by Antoine Gross, Country Manager for Southeast Asia, who joins the company after serving as Vice President of Sales APAC at Synthesio. Impact said the new Singapore office will help it further extend its footprint in APAC.

posted on Wednesday, November 7, 2018(Full story)


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