FUNDING
Irvine’s Carro, which is developing marketing technology software to connect brands with social media influencers, has raised a $20 million Series B round led by Alpha Edison, with participation from PayPal Ventures, GC1 Ventures, and Corazon Capital.
Carro was founded in 2015 by former Google, Facebook and Apple employees to help with cross-store selling, and to capture new customers and revenue through collaborative commerce, the company said. The platform has reportedly grown over 500% in the last year and is now used by over 30,000 partners, from brands Arizona Iced Tea and ZigZag to American designer Rachel Zoe.
“Top brands know that a sale rarely happens alone. When a customer purchases a bike, for example, they will most likely need a helmet, gloves, and other accessories at the same time,” Carro Chief Executive David Perry said in a statement. “Our premium network, data, and expert staff help our brands to not only know what their customers are looking to buy next but also enables them to capture the complete sale in a single checkout. It’s a win-win situation for both consumers and our brand partners that we believe is the future of e-commerce.”
The new funding will help grow Carro’s team, connect additional e-commerce platforms to its network, and expand its offerings to brands, creators, and influencers, officials said.
Costa Mesa-based venture capital firm CerraCap Ventures participated in a $20 million Series B1 round in New Mexico’s 3D Glass Solutions Inc. (3DGS).
The round, which closed last month, was led by Intel Capital and adds Intel Capital’s Vice President David Flanagan, Lockheed Martin’s Jeff Cunningham and Nagase’s Yoriyuki Yamashiro to 3DGS’ board of directors.
3DGS is a developer and manufacturer of radio frequency (RF) devices, including antennas, filters and inductors. The company says its products have superior electrical performance and ultra-low transmission loss at high frequencies.
“The introduction and adoption of new communications standards like 5G have driven incredible levels of complexity and product demands into the RF front end,” said Flanagan. “3DGS’ advanced ceramic materials and manufacturing capabilities are ideally suited to address these high-performance requirements for RF components. We are excited to see the adoption of this important technology in 5G systems and devices starting in 2022.”
3DGS has been awarded AS9100 and ISO 9001 certifications, which are internationally recognized standards in the industry, officials said.
The Series B1 funding will accelerate its revenue growth strategy and support high volume production, 3DGS’ officials said.
EXEC HIRES
PatientFi, an Irvine-based “patient-friendly” fintech company, has hired Tim Belmonte as senior vice president of sales and Jon Roberts as senior vice president of risk and data analytics.
“We are thrilled to welcome two well-respected industry experts to the PatientFi team,” PatientFi CEO Todd Watts said in a statement. “Tim’s extensive commercial experience in patient financing has given him a profound understanding of the needs of our customers and how to meet them. With PatientFi rapidly scaling its volume, Jon’s expertise in managing credit risk for patient borrowers will be a critical component to our long-term success.”
PatientFi was co-founded by Watts and Scott Jorgensen at Octane’s LaunchPad accelerator in 2017; officials say it partners with healthcare providers to offer patients a “buy now, pay later” payment solution for elective medical procedures.
“I’m beyond excited to join an organization that understands patient payment needs and the complexities of today’s providers,” said Belmonte, who previously held executive roles at Capital One Point of Sale and AT&T;.
Roberts joined PatientFi after most recently serving as senior director of payment solutions and patient financing at Irvine-based Pacific Dental Services, the third-largest dental organization in the country.
PRODUCT LAUNCH
Rancho Santa Margarita’s AsomBroso Tequila announced Dec. 6 a new product will launch by the first quarter of 2022: Knucklenoggin Peanut Butter Whiskey.
Shares in the company are also available, starting at $480, via StartEngine.
“Premium tequila sales are booming, and you don’t need to be a Hollywood A-lister to get in on the tequila game,” AsomBroso CEO Ricardo Gamarra told the Business Journal. The tequila market “is projected to surpass $14.7 billion by 2028—and we are offering an opportunity to the public to purchase shares to become an owner of an award-winning brand.”
AsomBroso sold over $20 million since its start and through 2020, its revenue has increased over 750%. So far, it has raised north of $2.1 million in investments, according to its StartEngine page.
Knucklenoggin Salted Caramel Whiskey was launched in July 2020 at $26.99. Within a few months, the company reported selling 90,000 bottles; it’s on track to sell 100,000 cases over the next year.
AsomBroso’s blue agave tequila is produced in Amatian, Mexico, approximately 41 miles outside Guadalajara, according to Gamarra. The brand, which currently offers 10 products, has won awards from Robb’s Report and the San Francisco World Spirits Competition.
PARTNERSHIPS
Irvine-based tech company CuraPatient announced Dec. 2 a partnership with an undisclosed pharmacy chain to help deliver COVID vaccinations in all 50 states and two U.S. territories, 65% of which will go to individuals ages 65 and older.
Founded by a UCI software engineer, an oncologist, and a great-grandson of John D. Rockefeller, CuraPatient develops mobile healthcare applications for the Veterans Administration, public health departments, and individual health plans across the country, the company said.
It’s best known for developing the mobile application Othena to schedule COVID vaccinations throughout Orange County, which it said helped administer 1.3 million doses since January; CuraPatient’s vaccine deployment enabled the Orange County business community to safely reopen “much faster” than other communities across the country, the company said.
“CuraPatient’s mobile vaccine app enrolled more than a million residents in Orange County, and now across the U.S., and it’s changing the way consumers access health care services,” CuraPatient CEO Long Nguyen said in a statement. “Getting people to use their mobile device to own their personal health care is a big step forward in improving the delivery of health care services.”
Co-founder Siddhartha Mukherjee is the author of a 2011 Pulitzer Prize-winning book, “The Emperor of All Maladies: A Biography of Cancer,” which tells the story of cancer from its first description in an ancient Egyptian scroll to the gleaming laboratories of modern research institutions.
Irvine fintech Confia, which provides digital bank-like and cash management services to the cannabis industry, announced this month a strategic partnership with Eaze Momentum, a business accelerator launched by Eaze, a San Francisco cannabis distributor.
Eaze Momentum, launched in 2019, is a 12-week business development program that provides cannabis startups with a $50,000 grant, education, and capital.
Under the partnership’s terms, Confia will provide Eaze Momentum participants and alumni with “preferred banking terms, access to financial planning resources, and banking fees of just $250 per month.”
Currently, it’s illegal for banks, credit unions and traditional lenders to offer loans to marijuana providers because the federal government still considers cannabis a controlled substance.
Confia will financially sponsor Momentum’s grant program and host financial services workshops throughout the year.
“We are working to elevate deserving small businesses and leaders who have faced inequality and provide them with compliant and affordable financial services,” Confia CEO Mark Lozzi said. “This is an exciting opportunity to create a thriving ecosystem of trust for entrepreneurs building their businesses.”
Eaze says it’s has provided nearly eight million cannabis deliveries to date.
Applications for Momentum’s third class are currently open, officials said.
