Wednesday, May 25, 2022

Hi TenOneTen Friends,

We hope that you and your families are staying healthy and safe during these challenging times. As the world continues in its fight against this pandemic, we’re proud that TenOneTen companies such as Descartes LabsElemental Machines, and Health Tensor among many others have been able to use their technology to help make a difference amid the crisis. Of course, this is only a small part of a nationwide and global effort. We could not be more thankful to the thousands of healthcare workers who truly deserve our appreciation and support at this time.

We’re also excited to share some news about TenOneTen Co-Founder and Managing Partner Gil Elbaz. Today, Factual announced its merger with Foursquare. Gil founded Factual in 2008 and will now join Foursquare’s Board of Directors. Together, Factual & Foursquare’s location-based data set will represent over 500 million devices worldwide, 14 billion user confirmed check-ins, and over 100 million points of interest across 190 countries and 50 territories. We couldn’t be more excited.

Portfolio Updates:

Here’s some other recent news from the TenOneTen portfolio:

  • Flock Freight, a San Diego-based freight provider that offers full truckload efficiency for LTL shipping, recently announced a $50M Series C led by SignalFire and GLP. TenOneTen backed Flock Freight in 2015, and the company subsequently raised a Series A from GV in 2017.
  • Crexi, an LA-based commercial real estate marketplace, announced a $30M Series B from Mitsubishi, Industry Ventures and Prudence Holdings. Since launching in 2015, Crexi has seen $700B of transactions flow through its platform, with roughly 40% of those deals exclusive to the company.
  • Outlier.org, a Brooklyn-based online academy, announced an $11.7M Series A from GSV Ventures. The company was founded by Masterclass co-founder Aaron Rassmussen, allows students to take online classes for college credit.
  • Strattic: we led a seed round in Jerusalem-based, Strattic, a static hosting platform for WordPress that makes sites “99.99999% more unhackable”. In all, the company announced $6.5M in funding from TenOneTen, SignalFire, Accel and Village Global. 

Bits:

Here’s everything else we’re reading and listening to:

  • Interview with Dinesh Moorjani – LA Venture Podcast. Minnie Ingersoll of TenOneTen interviews Dinesh Moorjani of Comcast Ventures. Link.
  • Interview with Minnie Ingersoll – LA Venture Podcast. Get to know TenOneTen Partner, Minnie Ingersoll! Link
  • LA + Remote Startups Hiring During Coronavirus Outbreak – By @Liora_ & @Ranika. The current crises has affected many tech workers, including here in LA. This directory includes a list of jobs and companies hiring despite the slowdown. Link
  • The CARES Act: A Summary for Technology and Life Sciences Companies– Wilson Sonsini. For technology companies affected by the crisis, the new CARES act can help. To understand how this may be a resource for your company, Wilson Sonsini has prepared a helpful guide. Link.