Daily Business Report-Oct. 1, 2020
Seismic is located in Carmel Valley. (Photo courtesy of Seismic)
Marketing firm Seismic valued
at $1.6 billion in Permira-led fund
Marketing software startup Seismic said on Tuesday it had raised $92 million in Series F funding led by private equity firm Permira, valuing it at $1.6 billion.
The deal makes Permira the single largest shareholder of San Diego-based Seismic. Other investors in the round includes investment firm Ameriprise Financial and EDBI, a Singapore-based global fund.
The company intends to use the funds to accelerate rapid innovation, international growth, and M&A activity.
Led by Doug Winter, co-founder and CEO, Seismic is a marketing and sales enablement solution for go-to-market teams to deliver engaging buyer experiences that drive growth, according to a company statement. Its Storytelling Platform delivers innovative capabilities for marketers to orchestrate content delivery across all channels, and for sellers to engage with prospective buyers in a resonant manner at every step of the buyer journey. More than 600 enterprises including IBM and American Express use Seismic.
Founded in 2010 with headquarters in San Diego, Seismic now has more than 900 global employees across 14 offices across North America, Europe, and Australia.
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City of San Marcos launches new
COVID-19 Rental Assistance Program
San Marcos renters who have experienced financial setbacks due to COVID-19 may be eligible for the city’s new COVID-19 Rental Assistance Program.
The program, funded with $1,051,615 of Community Development Block Grant resources, will provide immediate financial aid to residents experiencing a loss of income directly related to COVID-19.
It provides residential rental assistance (up to $10,000, total) to residents whose incomes are at or below 80 percent of the Area Median Income, who were current with rent payments prior to March 16, 2020 and who are otherwise in good financial standing.
“Thanks to these CDBG resources, the City of San Marcos is able to extend a helping hand to renters facing extreme financial hardship during the pandemic,” said Lisa Fowler, city finance director. “Our goal is to raise awareness about this valuable program and encourage residents who are eligible to apply.”
The development of the Rental Assistance Program was approved by San Marcos City Council on June 9. Program funds will likely be fully expended by June 30, 2021.
Applicants with the lowest income levels will receive priority over other eligible applicants. Residents may receive up to $10,000 per household, per application, for up to six months of partial or full rent. A rent reasonableness assessment may be conducted by the program administrator to determine the amount of assistance that will be provided.
To learn more about the program, eligibility and the application process, go to the COVID-19 Rental Assistance Program webpage.
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Oceaneering secures contract with
Navy for submarine rescue systems
Oceaneering International, Inc. announced that its Aerospace and Defense Technologies segment has secured a contract with Naval Sea Systems Command (NAVSEA) to operate and maintain the U.S. Navy’s submarine rescue systems. The contract duration is one year, with four one-year extension options, with a potential value of $119 million.
Oceaneering’s scope of work is to engage with the U.S. Navy’s Undersea Rescue Command, based at Naval Air Station North Island in San Diego, to maintain, certify and operate submarine rescue systems and supporting equipment.
For over 20 years, Oceaneering has supported the U.S. Navy Submarine Rescue program with engineering efforts and capability enhancements. This new contract represents significant growth in Oceaneering’s role in supporting operations and maintenance, the company said.
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SDG&E launches program to build
charging infrastructure for electric vehicles
As part of its commitment to support California’s climate action goals and help build a clean energy economy, San Diego Gas & Electric announced the launch of Power Your Drive for Fleets, the first large-scale program of its kind in the region that will build charging infrastructure to support the transition to zero-emission buses, trucks, forklifts and other medium- and heavy-duty vehicles and equipment.
At the same time, SDG&E announced its goal to transition its own entire operations fleet – including pickup trucks and bucket trucks – to zero emission vehicles (ZEV) by 2040.
Power Your Drive for Fleets will install charging infrastructure to support a minimum of 300 locations and facilitate the deployment of at least 3,000 medium- and heavy-duty electric vehicles in the San Diego region over the next five years. Organizations interested in this program are urged to visit sdge.com/fleets to learn how they can participate in the program.
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Jack in the Box announces 77 percent
of eggs from cage-free environments
Jack in the Box Inc. announced Wednesday that it is more than three-quarters of the way toward ensuring that all eggs in its supply chain come from chickens raised in cage-free environments.
In 2015, Jack in the Box Inc. made two commitments around transitioning to cage-free eggs: first, to switch a majority of its eggs to cage-free by 2020 and secondly, to use 100 percent cage-free eggs by 2025.
Today, more than 77 percent of the company’s eggs come from cage-free chickens—meaning Jack in the Box Inc. has surpassed its first goal and is on track to complete the conversion by 2025 or sooner.
“Our company has a long history of addressing animal welfare in our supply chain,” said Sarah Super, SVP, chief legal and risk officer, and corporate secretary for the company. “We’re proud to be so far along in our conversion to cage-free eggs and are working to finish the transition by 2025 or sooner.”
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SDSU embarks on $5 million
COVID-19 testing effort
Many months into the COVID-19 pandemic, it is clear the disease doesn’t affect everyone equally. In San Diego, Latinx residents are three times more likely than white residents to become infected with the disease, and they account for 61 percent of local hospitalizations, according to county figures.
San Diego State University researchers are working to curb these disparities and improve outcomes for underserved communities who may have barriers to accessing health care.
As a part of a $5 million grant from the National Institutes of Health (NIH), public health faculty will partner with community organizations to deploy rapid COVID-19 testing throughout the San Diego region. The effort, dubbed “Communities Fighting COVID!,” aims to test 42,000 people in 14 months.
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New research provides clues on optimizing
cell defenses when viruses attack
Science’s pursuits of unraveling how human cells fight viral infections kicked into high gear in 2020 with the devastating emergence of the SARS-CoV-2 virus.
A study published recently in eLife by University of California San Diego scientists describes fresh details about the mechanisms involved when individual human cells are attacked by viruses, with possible implications for COVID-19 clinical treatment. The research helps advance science’s understanding of interferons, a key group of immune response proteins released naturally by human cells when a virus is detected.
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Nursing faculty at Cal State San Marcos
receive grant to boost mental health
Two Cal State San Marcos faculty members in the School of Nursing have received a grant of $1.33 million to help further build the pipeline of psychiatric mental health nurse practitioners in California.
Dr. Catherine Baker and Dr. Nancy Romig received the five-year grant from the Office of Statewide Health Planning and Development (OSHPD), which in total awarded $17.3 million to seven programs. Baker is an assistant professor and Romig is a professor emerita in CSUSM’s School of Nursing. Both are co-coordinators of the Psychiatric Mental Health Nurse Practitioner (PMHNP) program. Over the five years, the grant will provide full scholarships for 20 new PMHNP students and fund the costs associated with admitting additional students and securing field placements.
After this academic year is dedicated to preparation for expansion, the PMHNP program will add five additional nursing master’s students for 2021-22 and each of the subsequent three school years. Funding will provide for expanded faculty, student recruitment, clinical site visits, preceptors, standardized patient costs and an annual training workshop for preceptors who oversee students.
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Scientists kill cancer cells by
‘shutting the door’ to the nucleus
Scientists at Sanford Burnham Prebys Medical Discovery Institute have shown that blocking the construction of nuclear pores complexes—large channels that control the flow of materials in and out of the cell nucleus—shrank aggressive tumors in mice while leaving healthy cells unharmed. The study, published in Cancer Discovery, a journal of the American Association for Cancer Research, reveals a new Achilles heel for cancer that may lead to better treatments for deadly tumors such as melanoma, leukemia and colorectal cancer.
“Nuclear pore complexes are the ‘doors’ that all materials pass through to gain entry to the cell’s nucleus. Because cancer cells are rapidly growing and dividing they need and create more nuclear pore complexes than normal cells,” says Maximiliano D’Angelo, Ph.D., associate professor in the Development, Aging and Regeneration Program at Sanford Burnham Prebys. “Our study is the first to demonstrate that by blocking the formation of these nuclear ‘doors’ we can selectively kill cancer cells.”
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U.S. Bank donates $10,000
to Partnerships With Industry
Partnerships With Industry (PWI), a San Diego-based nonprofit that matches workers who have developmental and intellectual disabilities with meaningful employment, has received a $10,000 grant from U.S. Bank in San Diego. The grant was part of U.S. Bank’s Community Possible program, which involves investing in the future by giving to organizations that focus on economic and workplace development.
PWI said U.S. Bank’s donation has been among several contributions made to the nonprofit in recent years, including occasions when bank employees volunteered at PWI’s Work Activity Program.
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Nathan Schmidt gets new title at
San Diego County Credit Union
Nathan Schmidt has been named executive vice president, chief experience officer and digital channels for San Diego County Credit Union. In this elevated role, Schmidt is responsible for management of the overall customer experience including further oversight of customer interactions with the SDCCU brand, in addition to his existing responsibilities which include marketing, advertising, digital channels, product development, business development and community and media relations at SDCCU.
With over 20 years of experience leading marketing and e-services operations for credit unions, Schmidt joined SDCCU in October 2011 as EVP, marketing and business development. In 2018, he became EVP, brand strategy and digital channels where he added management of the Digital Channels department to his role.
Schmidt has earned notable recognition for his accomplishments and leadership in the time he has been with SDCCU. In 2019, he was named among SD Metro Magazine’s Men of Influence. He was selected as the 2017 Marketing Professional of the Year by the CUNA Marketing and Business Development Council. In 2015, he was named a Credit Union Rock Star by CUNA. He was also named Brand Professional of the Year by One Club San Diego, San Diego’s premiere marketing association, the organization that recognized SDCCU as Brand of the Year in 2014. He was selected by SD Metro Magazine for the 40 Under 40 award.
