When many people think of the tech scene in LA—centered on “Silicon Beach”—they probably think of consumer-tech stalwarts: Snapchat, Hulu or even Dollar Shave Club*, the startup made famous by its funny, viral videos.
What’s less appreciated is the recent growth of business-focused technology in the broader Los Angeles area. According to Pitchbook, investment in B2B software companies in the LA region soared to $2.76 billion in 2018, up from just $1.64 billion in 2013. These companies may not be household names, but they’re quietly growing and building market value—all against the backdrop of some recent B2B successes in the IPO market.
Battery’s B2B investments in southern California include AuditBoard*, which makes software for corporate auditors, as well as two companies making software for “blue-collar” workers: ServiceTitan*, which serves home-services contractors like plumbers and HVAC technicians, and UpKeep*, whose technology helps maintenance teams in facilities ranging from manufacturing plants to large office complexes to prisons. The companies are not glamorous—but they’re fulfilling brisk demand in their target markets.
Other business-focused, southern California tech companies include Cornerstone OnDemand, an HR and training-software company; ProCore Technologies, which provides software for the construction industry; ZipRecruiter, an employment website; and Mindbody, which makes software for businesses like fitness clubs, spas and hair salons. (Mindbody is actually based north of Los Angeles in San Luis Obispo.)
Battery’s Sanjiv Kalevar has previously written about the trend of software for blue-collar workers and narrates this video about the broader trend of B2B software companies that call LA home.
Battery Ventures provides investment advisory services solely to privately offered funds. Battery Ventures neither solicits nor makes its services available to the public or other advisory clients. For more information about Battery Ventures’ potential financing capabilities for prospective portfolio companies, please refer to our website.
*Denotes a past or present Battery portfolio company. For a full list of all Battery investments, please click here. No assumptions should be made that any investments identified above were or will be profitable. It should not be assumed that recommendations in the future will be profitable or equal the performance of the companies identified above.
Content obtained from third-party sources, although believed to be reliable, has not been independently verified as to its accuracy or completeness and cannot be guaranteed. Battery Ventures has no obligation to update, modify or amend the content of this post nor notify its readers in the event that any information, opinion, projection, forecast or estimate included, changes or subsequently becomes inaccurate.