82.1 F
San Fernando
Tuesday, Apr 29, 2025
Home Blog Page 15

On Home Turf

Molly Higgins, Executive Vice President of Community Impact and Engagement for the LA Rams (left) and Kathryn Kai-ling Frederick, Chief Marketing Officer for the Rams (right), at the Rams temporary practice facility in Woodland Hills. (Photo by Rich Schmitt)

Sports fans are typically accustomed to seeing their teams front-and-center for about half a year, give or take.

For Molly Higgins and Kathryn Kai-ling Frederick, their work for the Los Angeles Rams is 12 months a year, frequently well beyond standard working hours as they work to continue reintegrating the NFL franchise into Southern California. This work includes fostering roots throughout various L.A. communities – the newest of which might be the temporary practice facility located in Woodland Hills.

“We’re going to be the only professional sports organization with our roots right here, and it’s such a huge valley and (with) so many potential fans, we’re really going to start digging into, ‘How do we make the Rams a sense of pride for Woodland Hills and the greater San Fernando Valley?’” explains Higgins, who is executive vice president of community impact and engagement for the Rams. “I do think (team owner) Stan Kroenke and (team president) Kevin Demoff were very intentional about selecting Woodland Hills as kind of our final home, our destination, our practice facility. There’s always a lot of thought put into all of our all of our moves.”

Kroenke and the Rams made good on about two years of speculation this fall when it began hosting in-season team practices at a temporary facility, which was largely constructed within the parking lot of a former Anthem Inc. building. Work converting the site began in January and wrapped up in time for the season.

Though the Rams declined to reveal the financial investment into the practice facility, the organization has dropped $650 million alone on real estate in the area, buying up the largely vacant Promenade mall, the Anthem property and the Village at Topanga mall – all of which are adjoining – in 2023. While the Village is continuing on as an outdoor retail center, the essential vacancy of the other sites – and prior Promenade owner Unibail-Rodamco-Westfield having secured permits for a sports-oriented development there – fueled chatter that the team would unite its team operations in Thousand Oaks and business operations in Agoura Hills under one roof in Woodland Hills.

Although team officials say they’re not at a point to divulge anything specific, the Rams have confirmed that is indeed the long-term plan. And similar to the organization’s investment in SoFi Stadium and Hollywood Park in Inglewood, those officials view the centralized business operation as a spark for the areas surrounding Woodland Hills.

“I think that it is something that continues to draft on what we’ve done really well,” says Frederick, the team’s chief marketing officer, on its outreach elsewhere in the other valley regions. “I think spending as much time in both Ventura (County) and the Conejo Valley has been a source of investment. Our players live here, our team works out here and it is an area of real opportunity for us, and I see that year on year on year.”

Increasing community engagement, fandom

Although they do not necessarily work hand-in-hand at all times, Higgins and Frederick do represent two generations of Rams executive leadership.

Higgins has spent 23 seasons with the team, beginning her tenure there as a full-time intern when the team was in St. Louis. When the NFL agreed to let the team return to L.A. in 2016, Higgins said she began a back-and-forth commute to get started on the community engagement angle.

Meanwhile, Frederick was the global chief marketing officer at Beverly Hills entertainment giant Live Nation prior to joining the Rams in 2021 – ahead of its Super Bowl victory at SoFi, only the second instance of a home championship win in the league’s history.

She had no prior experience in sports, but had become “literally obsessed” with learning how to build fandom in a blossoming sports market like L.A.

Higgins highlights that move as emblematic of Demoff’s approach to running the operation. When he took the reins in 2009, Higgins was the only woman on the executive team. Now, she says that team has essentially perfect parity.

“Kevin is someone who doesn’t see gender, he doesn’t see color: he sees talent, and he goes and seeks talent like he’s a collector of talent,” Higgins adds. “Being able to go and get somebody who is the chief marketing officer of Ticketmaster and Live Nation, I think that’s an example of, ‘It didn’t matter that she didn’t have sports experience. She knew how to market, so we wanted her.’ A lot of people that are now part of our leadership team were leaders in different industries, not necessarily sports. And I think that’s what makes us so special, because we think differently.”

Frederick highlights this business composition as “a beautiful tapestry,” one that importantly reflects more and more how the different communities of central L.A. and the Valley look and think.

“When Kevin presented the opportunity to me, this was one of the biggest selling points,” she continues, “an ownership team and a leadership team that philosophically was committed not to (just) the idea of diversity, but to what the richness of a team can unlock from a capability, from a perspective, from a skill set.”

A long, local history

The Rams’ history in L.A. is of course bisected. The franchise first played in L.A. in 1946, after relocating from Cleveland. In 1995, the team moved to St. Louis. And in 2015, the team to much fanfare returned to L.A., where it now shares home turf with the Los Angeles Chargers at SoFi Stadium. (The Rams hold the unique distinction of being the only NFL franchise to win league championships representing three different cities.)

While many historic Rams fans remain in Southern California, the team acknowledges they have work to do to grow in a region whose population maintains a largely fragmented fan base. One success story there, Higgins said, is the Rams Rookie Club, which essentially enrolls all of the team’s drafted and undrafted rookies into community-centric programs and outreach. Provoking that interest when the players are young, she said, instills more of a genuine community connection as each players matures.

“We have a deep belief that we’re a civic entity, and we exist because of our fans, and so we want to be out in the community, giving back to that community,” Higgins adds. “It’s not about just winning football games on the field, but it’s winning in the community and making that impact and we’re super proud of that program.”

Much of the outreach of course includes children and schools. Sports teams have historically targeted underserved communities with donations and service projects and that’s no different here.

The Rams famously constructed a football field on Hermosa Beach for the purposes of this year’s NFL Draft. To pay it forward, the team in September used that field to install a permanent one at Nickerson Gardens in Watts, the largest public housing development in the city. With the Rams Rookie Club, players are expanding on the traditional adage that sports can “be a way out” and also highlighting the fact that they went to college and earned degrees – another “way out.”

And, as Frederick highlights, the science of fandom indicates that most lifelong team fans make that emotional commitment at ages 5-11.

“That’s when those core memories, those multi-generational memories, are truly inked. Those become the fabric of your identity,” she says. “I do think that’s where a lot of our focus is because, with a 21-year hiatus, you’re missing a generation in there. But it also is a true place where we have impact to demonstrate.”

In a similarly unifying spirit, the team seems to see what will ultimately be its two-part operation as a unifying force between the two main spheres of L.A.’s city lines, which in various ways have competed for attention and resources throughout the decades.

“We’re in a unique position where Inglewood is home, and now Woodland Hills is home as well,” Higgins says. “And we’ve really been so intentional about building up the Inglewood community through our relationships with the school district, schools and nonprofits and really the greater South L.A. area, and now it’s a new opportunity to do something similar in Woodland Hills.”

Mission Valley Opens Its Burbank Branch

Tamara Gurney and Nikki Perez at MVB’s Burbank branch official launch.

Mission Valley Bank is putting the bank in Burbank.

With its official launch in October, Mission Valley’s new Burbank branch serves as a milestone in growing the bank’s footprint. It’s also a way to navigate the impacts of the recent high-interest rate climate, says Chief Executive and President Tamara Gurney.

Gurney says that Mission Valley, like most banks right now, is focusing on remedying its liquidity.

“The solution is expanding geographically to new markets where you can tap into deposits,” Gurney says, adding that MVB is considering expanding in the San Gabriel Valley, Hawthorne, Gardena and El Segundo in addition to Burbank.

Breaking into Burbank

As a community bank, it’s important for Mission Valley to connect with the city.

Joining the Burbank Chamber of Commerce is one way to learn more about Burbank’s landscape and get connected with the city’s business leaders, Gurney says.

“We’re trying to make our presence feel known in Burbank… Our branch is actually going to have a mural on the inside wall of the history of Burbank, all the milestones in the city’s growth,” she adds.

At the branch’s grand opening in October, notable Burbank community members and leaders came out to celebrate including Vice Mayor Nikki Perez, many members of the Burbank Chamber and Greg Martayan, vice president of the Valley Economic Alliance.

With 1,960 square feet of branch space and 9,590 square feet of administration space, the Burbank location has an industrial feel with an exposed ceiling and pops of Mission Valley blue throughout.

Gurney says the bank is also considering creating a help center in the location to assist customers with getting set up with online banking. While investing in online platforms can streamline certain services, Gurney still finds meaning in having physical branches for MVB clients.

“From the feedback we get from our clients and even prospects, they want to know where they can go to talk to somebody. And so they may use, and likely do use, the electronic channels most of the time, but when you want to discuss a loan opportunity or get some advice from your banker, you want to go in and sit down,” Gurney says.

MVB eyes key loan products

Mission Valley has seen its profits increase which Gurney attributes to two main initiatives.

“We’re laser focused on two loan products: SBA, because we can make those loans and immediately sell them into the secondary market and get our liquidity back. That’s a huge profit center … and the other one is accounts receivable,” Gurney says.

Last year, the bank did $120 million in SBA loans and about $750 million in conventional loans. For a $650 million bank, Gurney says “that’s huge,” calling Mission Valley’s growth “significant.”

Gurney says she differentiates Mission Valley from larger, national banks and finds a competitive edge with other community banks. 

“We are very unique, even among community banks – and our regulators will tell you that – because we have a risk appetite,” Gurney says.

Power Lunch: Geovanny Ragsdale

Geovanny Ragsdale at Gasolina Cafe, located at 21150 Ventura Blvd. in Woodland Hills. (Photo by Rich Schmitt)

Geovanny Ragsdale is the chief executive of Canoga Park-based nonprofit Boys & Girls Club of the West Valley, a role she has had since 2021. Ragsdale sat down with the Business Journal at Gasolina in Woodland Hills for a power lunch to discuss her career.

How long have you been involved in nonprofits?

My whole career, with the exception of a year and a half that I worked for KPMG in France. Mind you, I worked for them to develop their corporate responsibility initiatives and to initiate what today is the KPMG France Foundation.

What have been some of the biggest initiatives you’ve taken on at the Boys & Girls Club?

I was privileged enough to be one of the 62 leaders that MacKenzie Scott selected within Boys & Girls Clubs to give a very meaningful gift to… that has resulted in us paying off our Teen Center building (and) we have set aside a matching challenge gift of $500,000 to grow an endowment for the organization, for its future. To date, there are four individuals that have initiated private like endowments. Previous to my tenure, there had been no endowment dollars. So that’s been a big piece for me of what I’m working on. We’ve been able to expand our footprint with L.A. Unified School District because we now have the funds to be able to float the contract requirements for our reimbursements, which, in the past, we were limited on how much we could take on because we still have to make payroll. And the last big project that that funding has enabled us to do is we’re looking at a potential renovation to the Gary M. Thomas Clubhouse in Canoga Park.

What else is on the horizon for the club?

Growing the retention of the kids that we serve. For many years, the club really focused on elementary kids, and then when they went to middle school, it was like we were MIA and then we would be present again at the high school level. And so my biggest thing has been, how do we grow that retention of our youth, continuing from when they start with us through elementary all the way through graduation, and ensuring that they graduate on time and that they have a plan for their future. And then how do we better engage our alumni, those who have graduated from our program to give back to any Boys & Girls Club, wherever they may be living or working at the time.

NewMark Merrill Launches New Venture

Jermaine McMihelk at NewMark Merrill in Calabasas. (Photo by David Sprague)

Sandy Sigal grew up in the San Fernando Valley and has located his business NewMark Merrill Cos. there as well.

The Calabasas shopping center owner, known for Janss Marketplace in Thousand Oaks, the West Hills Shopping Center, and Del Amo Plaza in Cerritos, has started a new venture – NewMark Merrill Hadler Community Partners. The venture, which was announced in September, will target underserved, inner-city communities throughout Southern California by building new or buying and refurbishing existing retail centers.

To run the day-to-day operations of the new venture, Sigal tapped Jermaine McMihelk, a former NewMark Merrill portfolio manager who left in January 2020 to go to Primestor Development Inc. in Culver City while also starting his own company, Greenwood Enterprise Holdings, to open a 7-Eleven in the Historic South Central neighborhood of Los Angeles. (Greenwood no longer owns the store and is not currently active, McMihelk says.)

To have McMihelk – who has experience opening retail stores in underserved neighborhoods and knows leaders in the communities – gives the venture a real authenticity, Sigal says.

“When we show up, especially when a guy who looks like me shows up, and says ‘Hey, I want to do good by your community’ they say what are your credentials,” Sigal says. “I think Jermaine’s credentials are a little better than my credentials. I think that is a good thing.”

“It is an opportunity to make an investment but also have an impact on the communities that the company builds in,” McMihelk adds.

NewMark Merrill currently owns and/or manages
about 86 shopping centers throughout California, Colorado, Illinois and Washington, representing almost 10 million square feet with a collective value of nearly $2 billion dollars.

Spending on community centers

Sigal says he and McMihelk haven’t identified the centers that they are looking to buy or areas where they will build yet but in general, it is looking to invest $25 million in a community.

That was the amount NewMark Merrill spent on Rialto Village in San Bernardino County, a new retail center in what Sigal calls a “food desert” in that there weren’t enough grocery stores in the area. He got a Sprouts store to anchor the Village, he says, a healthy food option that Rialto had never had before. The Village opened last October.

In Inglewood, the company bought a retail center that “had been there forever,” Sigal adds.

“We invested I don’t know, $20-$25 million into remodeling that center to bring it up to a way that the community deserves it to be,” he says.

Crenshaw Imperial Plaza, at the corner of Crenshaw Boulevard and Imperial Highway, is anchored by a dd’s Discounts store and also includes a Planet Fitness, Jamba Juice, AutoZone and other national and regional tenants, along with some local businesses.

But to Sigal, the important thing isn’t how much money is spent – it is the philosophy behind the capital.

“Are you doing this to make money off the community and take off or are you going to stick around and make sure you operate the center at a level that adds value?” he proposes.

At NewMark Merrill, Sigal says, it has always been about the latter. The company typically holds on to a shopping center property for at least 10 years before considering selling it.

“We don’t build and divest,” Sigal says. “We are in it for the long term; that is where most of the value is at.”

Working on the centers

As the managing director of NewMark Merrill Hadler Community Partners, McMihelk will oversee its day-to-day operations. That means working with the leasing and property management teams to reposition shopping centers within their communities or building brand new ones.

It is not a dissimilar position from the one he had at Primestor, where he was asset manager overseeing the operations and performance of the eight grocery store-anchored shopping centers in Los Angeles County. Primestor owned those centers in partnership with Federal Realty Investment Trust in North Bethesda, Maryland, a real estate firm that owns and operates retail centers.

It was while with Primestor that McMihelk honed his skills in developing ties with the communities where the company had shopping centers.

With the Watts-adjacent Freedom Plaza, the retail portion of a larger mixed-use development that includes more than 1,000 housing units, McMihelk learned about going to the community before the center even opened and reaching out to residents who could help him and the company.

He and his team identified some people in the neighborhood not to be security but instead act as ambassadors, including some former gang members who had transitioned into a different lifestyle and wanted to find ways to give back to the community, he says.

“So they come in and hand out water bottles on hot days and ice cream to families or help an older woman to her car with her bags,” McMihelk says.

This also helped out with theft and other issues.

“It is hard to steal from places when you know the individual and that they are involved with the shopping center,” McMihelk says.

It’s a lesson not lost on Sigal.

One of the first shopping centers he ever built was in Norwalk and it was right between the turfs of two rival gangs who tagged his buildings all the time, he says.

“We turned our center into a safe zone,” he continues. “Nobody did anything to anybody in our shopping center. That is where their moms went, it was where their kids went.”

Making a shopping center a part of the community raises the value of the neighborhood and everybody who surrounds it, Sigal says.

He believes that in the long run it is the solution to all of the problems plaguing the city, including the recent smash-and-grabs at stores throughout Los Angeles, including in the Valley.

“What you are seeing now is a breakdown in societal norms and people not feeling like they belong,” Sigal says. “And when they feel like they don’t belong, they end up attacking places because ‘they have it and I don’t have it, and I want it.’”

People don’t want to go up to a neighbor they know and take things from them, he adds.

“That’s what we need to do. We need to get back to the value of neighborhood,” Sigal says. “That, I think, is the greatest gift we can give by building or redeveloping these shopping centers.”

Buzzworthy: Service Firms Relocate Offices

Miller Kaplan relocated to The Tower in Burbank.

At least two specialized firms in the Valley have hopped locations, scooping up new office leases.

Miller Kaplan, one of the largest accounting firms in the San Fernando Valley, has signed a 10-year lease at The Tower in Burbank, officially relocating its Los Angeles headquarters from North Hollywood to the media capital of the world.

Miller Kaplan plans to occupy 22,700 square feet at The Tower, spanning a floor and a half, while it’s also currently in the process of selling its current office building, located at 4111-4123 Lankershim Blvd.

“The move to The Tower in Burbank is a strategic real estate decision for Miller Kaplan,” Scott Romick, a principal and managing director at Lee & Associates – Los Angeles North/Ventura, who represented Miller Kaplan in the signing, said. “More than just a prime location, The Tower Burbank aligns with Miller Kaplan’s prestigious history while also providing a freshly built-out space and prominent signage in front of the building, positioning the firm for furthered success.”

The Tower offers modern amenities, including an on-site gym and a marketplace. Miller Kaplan is expected to move into its new space later this year.

And not too far away, Valley-based law firm Volchok, Volchok & Swire moved from its Northridge office and signed a new 2,710-square-foot lease at 6200 Canoga Ave. in Woodland Hills.

Coldwell Banker Commercial Quality Properties sold its former 10,000-square-foot office building for $2.6 million, which also included retail space.
— Brynn Shaffer

 

House of Mouse Looking for Next Big Cheese

The Walt Disney Co. intends to announce a new chief executive in early 2026.

James Gorman, the chair of the succession planning committee of the Burbank entertainment and media giant, said that the timing reflects the progress the committee and the board are making.

“It will allow ample time for a successful transition before the conclusion of Bob Iger’s contract in December 2026,” Gorman said in a statement.

Iger is on his second go around as head of Disney. He originally was chief executive from 2005 to 2020, when he took on the roles of executive chair and chair of the board through 2021. He returned to Disney in November 2022 to replace Bob Chapek, who had been unanimously chosen by the Disney to head up the company in February 2020.

Disney CEO Bob Iger.
(Photo by Angela George)

Since returning as chief executive, Iger has led a significant, enterprise-wide transformation to restore creativity to the center of the company and position Disney’s streaming business for sustained growth and profitability.

The board’s succession planning committee is chaired by Gorman and includes directors Mary T. Barra and Calvin R. McDonald.

The committee met six times in fiscal year 2024, consistently engaging with the full board on the substance of the decisions to be made. The committee and board continue to review internal and external candidates. — Mark R. Madler

 

Glendale Hosts Tech Week

The city of Glendale recently hosted its annual Tech Week where innovators come to the city to participate in a wide variety of interactive events.

During the Demo Day Pitchfest event, 10 startups participated in a Shark Tank-esque competition where they pitched their businesses to a panel of industry-expert judges.

This year Tactun, led by Chief Executive ​​Rafayel Ghasabyan, earned the coveted first place ranking. Headquartered in Minnesota and backed by Glendale-based venture capital fund SmartGateVC, Tactun designs and manufactures custom advanced machinery and software in just hours, according to its website, through its streamlined no-code controller and application builder.

“This award at Glendale Tech Week not only recognizes our dedication, but also highlights the significance of smart machinery in today’s tech ecosystem. We’re proud to contribute to the advancement of this industry,” Ghasabyan said in a statement.

With the win, Tactun took home the event’s prize package which includes services from companies local to Glendale including Oceanview Capital, Hero House and Full Circle Business Law.

While the prize package is certainly beneficial, Pitchfest judge and Oceanview Chief Executive Armen Vartanian said the most valuable part of the event boils down to networking and securing investors.

“What the startups really get is a platform (where) they get to showcase their ideas, and there’s tons of investors in the room that are interested in whatever the pitch is about. So in a weird way, I kind of see the prize package as secondary to the many connections that are formed based on this event,” Vartanian said. 

Along with its Tech Week, the city of Glendale recently disbursed $1 million to two tech accelerators, FoundersBoost based in Santa Monica and SmartGateVC.

After receiving a grant from the State of California’s Office of Business and Economic Development, the city’s selection committee evaluated 17 proposals before ultimately choosing the two finalists. The $1 million will be split evenly between the companies over a three-year period to support their project proposals to bring in more tech startups to Glendale’s economic landscape.

“These two candidates demonstrated, over the course of the application and interview process, a track record of building and running highly successful startup growth programs, an ability to accelerate the tech ecosystems they have been involved in, and a commitment to the advancement of the tech community here within the city of Glendale,” the city said in a staff report. — Kennedy Zak

 

beds The Antelope Valley Medical Center expanded its Emergency Department.

AVMC Expands Emergency Department

Antelope Valley Medical Center in October opened a newly expanded emergency department and a new infusion center.

The medical center’s existing emergency department has served as the Palmdale/Lancaster region’s only Level II trauma center and was seeing more than 9,000 patients per month, making it the second busiest emergency department in the state.

To accommodate this high level of patient traffic, the medical center opened a 7,200-square-foot addition.

The addition includes 40 new treatment bays, bringing the total to roughly 150. It also features a new nurses’ station, among other upgrades.

“This expansion is a crucial step forward for Antelope Valley Medical Center,” said Edward Mirzabegian, the hospital’s chief executive.

“As the second busiest emergency room in California, this additional space will allow us to better serve our growing community. We are committed to providing the highest quality of care, and this new facility is a testament to that dedication,” he added.

A couple of weeks later, the medical center opened a new infusion center, operated in partnership with CarepathRx, a pharmacy care delivery company based in the Seattle area.

Infusion therapy refers to the delivery of medications intravenously or through other specialized applications. Patients requiring this service often battle type 1 diabetes, rheumatoid arthritis, chronic wounds, lupus or psoriasis, among other diseases and conditions.

Up until now, infusion therapy at the hospital has been conducted within various specialty departments. By centralizing these services in one accessible location, the medical center aims to streamline the patient experience and make patients more comfortable.

“Patients will benefit from receiving their treatments in a space designed with their comfort and well-being in mind, supported by a team of experts who are passionate about delivering the best care possible,” Mirzabegian said.
— HOWARD FINE

 

A Chatsworth property.

Supplier Signs Chatsworth Leases

Voyant Beauty, a Chicago-based beauty supplier and personal care manufacturer, signed three leases totaling 180,000 square feet at an industrial campus in Chatsworth.

Rexford Industrial Realty Inc. is the owner of the three-building complex, located at 9200-9250 Mason Ave.

“We needed to prioritize operational efficiency,” Michael Partridge, head of operations at Voyant Beauty, said. “The new campus on Mason Avenue enables our team to condense most of our manufacturing to one site.”

Erica Balin and Scott Caswell, both principals at Lee & Associates – Los Angeles North/Ventura, represented Voyant in the negotiations.

According to the team, they had already secured a lease at one of the buildings before realizing the two adjacent sites were likely about to come to market and took immediate action to win the portfolio.

“Securing this expansive campus for Voyant Beauty marks a significant milestone in their strategic growth plans,” Balin said, emphasizing the importance of the property. “The consolidation of Voyant Beauty’s operations at this location underscores the property’s appeal as a premier industrial site. Landing their next home was a big win for us.” — Brynn Shaffer

ServiceTitan Adds Another Contractor Partner

Software: This screencap showcases ServiceTitan’s product offering to contractors.

ServiceTitan is adding another partnership to its portfolio of contracting collaborations.

The Glendale-based tech company announced on Wednesday it would partner with roofing supplier SRS Distribution Inc., and introduce the partnership in two stages.

Through the partnership, roofers will be able to use ServiceTitan to sift through roofing suppliers’ material catalogs that SRS provides in the coming months. As SRS and ServiceTitan merge integrations, roofers will be able to see price changes to materials in real time, check availability on inventory and order online while getting updates on delivery status in Spring 2025.

“We are committed to providing roofers with the transformative solutions they need to enhance their business and better serve their customers,” Chris Petros, general manager of residential markets at ServiceTitan, said in a statement. “Our partnership brings the power of SRS into ServiceTitan, equipping roofers with a streamlined workflow that reduces the time between estimate, order, and execution.”

It may seem simple, but the contracting field has been a straggler when it comes to adopting new technologies, even ones as commonplace as order and delivery notifications. That’s why ServiceTitan has become so successful – the company, founded in 2007, has raised around $1.46 billion in funding to cement itself as a Software-as-a-Service platform for the building services space.

Today, it has around 130 partnerships and integrations, corralling all the parts of contracting – marketing, tax compliance, lead generation and material sourcing – into one platform.

A quietly growing sector

Despite its many partnerships in the heating, ventilation and air conditioning space, as well as plumbing and electric services, SRS – which is considered one of the “Big 3” roofing suppliers in the U.S. – is the first partnership with ServiceTitan that focuses on roofing. Terms of the deal were not disclosed.

“This collaboration will redefine contractor operations with seamless digital solutions that enhance project workflows,” Rajeev Rai, the executive vice president and chief digital officer at SRS, said in a statement, adding that the partnership will allow roofers to “manage multiple entities effectively, gaining valuable insights into performance metrics.”

Perhaps roofing is having a moment – the news came on the heels of Utah-based JobNimbus, a Software-as-a-Service platform for the roofing sector, which announced a $330 million growth investment from a private equity firm on Wednesday after completing three major acquisitions. Chicago-based Acculynx, another business management software for the roofing sector, rolled out a slew of tech features in late October.

Construction technology in general is seeing a lot of love from investors, despite overall economic uncertainty sentiments in the U.S. In terms of capital raised, 2024 has been the best year for the sector since 2015. While most industries peaked in 2021, when venture funding was more generous, the construction sector saw $12.65 billion in funding so far in 2024, compared to just $9.42 billion in 2021.

ServiceTitan is boosting its roofing capabilities in other ways too. The company’s roofing software provides contractors with real-time data from the job site, allowing those contractors to estimate timelines and deliveries on roofing materials, as welll as juggle multiple projects at once.

Evite Scores a Growth Investment

Ecard: Evite sends online invitations.

Glendale-based Evite has received a strategic growth investment from Francisco Partners, the online invitation company announced at the beginning of November. The financial terms of the deal were not disclosed.

While many first movers in the tech world keep to their roots in the Bay Area, Evite cemented itself as a pioneer in the digital invitation space when it launched in 1988 and soon established a presence Los Angeles. After raising $38 million in funding, the startup was acquired by Beverly Hills-based Ticketmaster in 2001, then by Liberty Interactive in 2010. 

Evite was bought out in 2020 for an undisclosed amount, turning the unprofitable arm of a larger media conglomerate into its own company just as the U.S. descended into a pandemic, isolating people from friends, family and coworkers. Nevertheless, the company raised another undisclosed round of funding in 2023 before it received its recent growth investment from Francisco Partners.

David Yeom, now the chief executive of Evite, and George Ruan had long histories in e-commerce before they spun Evite into its own company. Yeom worked at eBay, HauteLook and The Honest Co. Ruan was the cofounder of online coupon website Honey and, when PayPal acquired the company, a vice president at PayPal. Under the pair, Evite has reorganized its strategy to boost profitability by abandoning its reliance on advertisements and switching to e-commerce by using affiliate programs so guests can bring gifts or party favors to the events they are attending.

“We are excited to partner with David on the next phase of Evite’s growth journey,” Alan Ni, a partner at Francisco Partners, and Nick LaGrandeur, the vice president at Francisco Partners, said in a statement. “David has done an exceptional job of evolving Evite under his leadership by reinventing the brand and upleveling the product experience by really focusing on the needs of Evite’s users.” 

Today, Evite is swimming in an ocean of companies like it – Eventbrite, Paperless Post and Partiful are some of its most popular competitors.

Phonexa Helps With FCC Rules

Offices of Phonexa headquarters in Glendale. (Photo by Ringo Chiu)

Spam and phishing have long been a headache for consumers – on one hand, smartphones have become a necessary feature of everyday life, but the barrage of texts and phone calls from unknown numbers make it difficult to use them for their primary function at times.

The problem has been a growing concern for the Federal Communications Commission, which is battling an almost Sisyphean war with spam callers. But new regulations are set to go public at the beginning of 2025, and marketers are scrambling to meet new compliance rules.

Enter Phonexa, a Glendale-based performance marketing company, which is rolling out software to meet these new regulations.

Phonexa announced in late October that it would help marketers remain in compliance with the FCC. The company has two solutions for businesses. One integrates Phonexa’s consent branch systems with various APIs that allow consumers to submit their consent for marketing phone calls or texts. Phonexa’s second solution is its form builder, a customizable embeddable that businesses can put on their websites that includes a consent page. That form is then linked to Phonexa’s lead management system, which syncs in real time.

“Our solution empowers publishers, networks, and service providers to navigate the complexities of the 2024 FCC regulations,” Liana Tonoyan, the chief information officer of Phonexa, said in a statement.

As part of the Telephone Consumer Protection Act, the FCC requires companies that use robocalls or robotexts to obtain explicit permission from the people they are calling or texting before sending them messages. These regulations will be enforced at the beginning of 2025.

Valley-Area Advertising Agency Sells, Will Merge

Live online radio broadcasting station desk, entertainment and communication concept

Sherman Oaks-based Oxford Road will combine operations with Irvine-based Veritone One following a merger-by-acquisition in October.

Under this deal, the newly assembled set of leaders aim to expand operations with a unified brand, with a plan of becoming “the world’s largest podcast group and leading creator-based media entity.”

Both companies, which were acquired by Insignia Capital Group to be combined, work in the podcast and video streaming advertising space.

Oxford Road Chief Executive Dan Granger

“Brands have been missing out on the full power of audio and creator-led content because these highly fragmented channels are challenging for firms without deep subject matter expertise,” said Dan Granger, who was chief executive of Oxford Road and now leads the combined operation, in a statement. “Our mission is to redefine the value of these channels for advertisers. With Veritone One’s industry-leading tech and data platform, in combination with Oxford Road’s innovation on behalf of brands, we’re creating an agency that sets a new standard.”

Terms of the Oxford Road purchase were not disclosed; however, the deal for publicly traded Veritone One was reportedly $104 million.

No layoffs expected

Formed in 2013, Oxford Road boasted about 55 employees before the merger; that headcount now numbers 172. While combined companies typically expect layoffs on account of redundant job positions, Oxford Road said there were no plans to reduce headcount. In fact, a company representative said, Granger and leaders expect to grow globally in the coming years.

The combination was highlighted as uniting Oxford Road’s international traction and industry expertise with Veritone One’s technological and data infrastructure. Both companies largely specialize in direct-response ads, which are common to podcasts and streamed programming and usually prompt listeners to visit a website or app at that moment.

“This endeavor is a pivotal moment for brands seeking the next generation of media opportunities,” said Conor Doyle, president of Veritone One, in a statement. “Podcast, audio, and creator-based media continue to outperform, but the industry still lags behind other mediums in key areas. Having a shared focus will deliver unparalleled leverage, knowledge and results for our clients, which helps the industry monetize at greater rates. For those of us dedicated to audio, this is a very good thing.”

Walnut Creek-based private equity firm Insignia Capital Group facilitated the deal, which had been in discussions for about a year before being announced in October. A team with downtown-based Sheppard Mullin Richter & Hampton served as legal counsel to Oxford Road.

“The advertising industry continues to rapidly evolve as brands seek more effective ways to reach consumers,” said Tony Broglio, president of Insignia Capital Group, in a statement. “We believe these two businesses are at the forefront of digital marketing’s next great evolution with the transformative growth of audio and creator-based advertising. By combining forces, we are empowering brands with unprecedented access to innovative solutions and influential creator networks, setting a new benchmark for the industry.”

Energy Vault Signs Deal In Australia

Product: Row of Energy Vault battery storage units.

Westlake Village-based Energy Vault Holdings Inc., which specializes in grid-scale energy storage projects, has signed an agreement with an Australian company for the deployment of a 1,000 megawatt-hour battery energy storage system in that country’s state of New South Wales.

While the overall project value was not disclosed, a spokesman for Energy Vault said the value of Energy Vault’s share in the project is about $350 million.

The project is being developed by Enervest Group, an energy developer headquartered in South Yarra in the Australian state of Victoria. The battery energy storage system will be located in the New South Wales town of Narrabri, about 330 miles northwest of Sydney.

According to Energy Vault’s announcement, the battery storage project will have a capacity of 1,000 megawatt hours, enough to power 1,000 homes for about 10 days.

The overall project still needs approvals from Australian grid officials.

Energy Vault will serve as the engineering, procurement, construction and system integrator for the project. Energy Vault’s technology allows for both alternating current (AC) and direct current (DC) configurations, giving the energy storage plant maximum flexibility when connecting to the regional power grid.

For Energy Vault, which deploys energy storage systems using a variety of technologies – chiefly battery and gravity storage – this is the third battery energy storage project in Australia. In May, the company signed agreements with the Australian subsidiary of Philippines-based ACEN Corp. for two battery energy storage projects at a single major project site near Uralla, also in New South Wales.