LAUNCH
Irvine-based Stem Audio has created a line of new audio products for conference rooms. The company said it has racked up $500,000 in pre-orders and began shipping product to clients this month.
Stem offers “an ecosystem” of products for the table, ceiling and wall that communicate via a hub device to provide audio coverage in a variety of meeting room sizes, from a small huddle space to larger conference room.
Stem created a series of products that work together so that companies aren’t stuck with a cookie-cutter device that only works well in one room, according to founder and Chief Executive Jacob Marash.
Stem devices are compatible with video conferencing platforms such as Zoom and connect to the network via Ethernet cable.
Stem also offers a control device with testing and management software so that IT professionals can install, test and maintain devices across their organization without bringing in third-party assistance.
Marash launched Stem Audio out of Phoenix Audio Technologies in 2019. Phoenix Audio is also based in Irvine and competes with companies including Polycom Inc. and Cisco Systems Inc.
Stem plans to raise a $10 million Series A round this summer.
Recruiting startup Jobot launched its applicant tracking software for recruiters, called Jax 1.0, this month.
The company previously created software in collaboration with CareerBliss and Google AI. Chief Technology Officer Nadeem Chaudhry has been working on the in-house platform since Jobot’s inception.
Jobot’s software is designed to make the recruiting process more efficient, while the company’s recruiters handle the human element or “the close,” according to Chief Executive Heidi Golledge.
The firm also coordinates interviews and final recruitment steps for its clients, which range from Fortune 500 companies to smaller family-owned businesses.
Jobot recently added more space at WeWork’s coworking location at The Boardwalk office campus in Irvine. It’s the third expansion for the company in less than 12 months; Jobot has more than 120 employees, the majority of whom are local. The privately funded company is searching for a permanent headquarters in Irvine or Newport Beach, which would need to fit 200 to 250 people, according to Golledge.
Jobot posted over $10 million in annual revenue in 2019 and booked $5.5 million in the first quarter of 2020 thus far.
Golledge is the co-founder of two other successful startups: CareerBliss and Irvine-based Cybercoders, which sold to professional service company ASGN Inc. in 2013 for more than $100 million.
ACQUISITION
Roybi Inc. in Mountain View acquired Irvine-based Kadho’s artificial intelligence-powered automatic speech recognition platform on Feb. 25. Terms of the deal were undisclosed.
Kadho makes educational products and language-learning apps based on scientific research. Its KidSense.AI platform features a database of more than 150,000 children’s voices in English, Mandarin and several other languages.
Roybi plans to combine KidSense.AI with its conversational toy, the Roybi Robot, which teaches children languages and STEM skills via lessons, stories and songs. Roybi is recommended for children ages 3 to 7 and includes an interactive voice and picture display. It offers about 500 lessons thus far.
Elnaz Sarraf, founder and chief executive of Roybi, said the company was attracted to KidSense.AI because of its focus on voice recognition for children, data privacy and its ability to run without internet access.
Sarraf founded Roybi in 2017 and has raised about $4.3 million in funding thus far.
She is also the co-founder of iBaby Labs, a developer of smart baby monitors and accessories in San Jose.
FINANCING
OC4 Venture Studio in Costa Mesa said it invested up to $750,000 in four early-stage Southern California software-as-a-service startups.
The companies include Irvine-based ChatterWorks, which is building a predictive recruitment software platform; mobile banking platform for international visitors and immigrants Cheese; Givsum Inc., a marketplace that connects organizations and people to facilitate giving; and food discovery app Spoonful.
OC4 is a full-service studio, which will work with its portfolio companies to establish product market fit and go-to market strategy unlike most accelerators and incubators, according to OC4 founders.
“The OC4 team offers a unique blend of experience and grittiness to get things done. They have built and scaled tech companies before and have created a unique model to help early stage startups like mine to avoid common pitfalls,” said Shafiur Rahman, founder of ChatterWorks.
OC4 is led by President Carey Ransom, who counts ties to several area startups; Kyle Kamrooz, a co-founder of digital mortgage software firm Cloudvirga; Chief of Staff Michelle Drucker and Marketing Strategist Ariel Kramer.
The studio recently brought on industry-specific coaches including David Herman, the former director of data science at Bird; Rudy Poe, the co-founder of Irvine’s Just Food for Dogs; Eleventh Day Entertainment; and Tracy Stevens, head of product at GoDaddy.
PARTNERSHIPS
San Clemente-based Locker Board landed a licensing agreement with toymaker Wham-O Inc. this month.
Wham-O in Carson is the creator of the Frisbee, Hula-Hoop, Slip ‘N Slide, Hacky Sack and more. The company will take over production and distribution of locker boards—skateboards small enough to fit inside lockers and backpacks—while 14-year-old Locker Board inventor Carson Kropfl will remain an adviser.
“Everyone here at Wham-O is stoked to be in business with Carson and Locker Board. These unique skateboards will be the centerpiece of our new Wham-O Wheelz category,” said Todd Richards, president of Wham-O.
Kropfl created the first locker board in 2016 and appeared on “Shark Tank” in 2017, where Locker Board received an investment from Virgin Group founder Richard Branson. Branson still owns a stake in the company.
Since appearing on “Shark Tank,” Locker Board products have been sold to more than 1,000 customers. It currently offers two 17-inch skateboards for tricks and cruising that retail for $98 and $116.
Locker Board products are currently available through its website, Amazon and local retailer Jack’s Surf. Wham-O plans to introduce the brand to additional surf and skate retailers in the U.S. and Canada.
Irvine-based VotingSmarter is working with local crowdfunding platform Givsum Inc. and GoFundMe to raise $250,000 in funds for product development.
VotingSmarter is the creator of Candidate Matchmaker, an app that helps voters find political candidates that share their values and views in a Tinder-like fashion. The app promises to help users “find a candidate to take home to mom.”
The organization is currently acting as a nonprofit and working to develop a more in-depth version of the app that “moves down ballot” to help voters navigate races for senate and congresspeople, in addition to the general election, according to Founder Terry Crandall.
Crandall, a realtor and former economics instructor at Chapman University, launched the nonprofit with former students to create unbiased and educational products for voters.
The team is led by Crandall, Chief Operating Officer Josh Martinez, Chief Financial Officer Anchit Roy, Brand Manager Katie Kirk and Political Director Anubhav Tripathi.
Advisers including Cove Fund Manager Howard Mirowitz and real estate investor Scott Cohen of Cohen Investments.
