PLEASANTON, Calif. — June 9, 2022 California may be losing tech business to other states, but not the Bay Area’s Tri-Valley region. Innovation Tri-Valley Leadership Group (ITV) announced that the number of tech businesses in the region has increased over 60% in the last four years, with some of the Bay Area’s most disruptive innovation coming out of the area encompassing Danville, Dublin, Livermore, Pleasanton, and San Ramon.
Tri-Valley companies were awarded $470 million in venture capital funds in 2020, according to the East Bay Economic Development Alliance. Two of the biggest deals were with Pleasanton-based startups Tekion and Air Protein. Tekion, an automotive retail platform announced last fall it had raised $250M in a Series D financing round, bringing the company’s valuation to $3.5B. “The Tri-Valley has been phenomenal for us. We are growing rapidly globally, plan to keep our HQ here and stay here. There is a lot more growth ahead of us,” states Jay Vijayan, Tekion’s Founder and CEO.
Pleasanton’s Air Protein is a company disrupting the alternative meat sector by making meat from air. Over 50 years ago, NASA scientists researched food technologies to find solutions for feeding astronauts on long space trips. Air meat’s revolutionary technology is made using microbes that turn recycled carbon dioxide into protein. The method was reinvigorated by Dr. Lisa Dyson, the company’s Co-Founder and CEO and Dr. John Reed, Co-Founder and Chief Scientific Advisor. The Air Protein team modernized the technology to support the company’s mission of producing the most sustainable meat on the planet to feed the earth’s growing population.
In May, Danville’s Crosschq announced it had acquired TalentWall in another milestone for the Software-as-a-Service company after they raised $30M in a Series A funding round last fall. Crosschq aims to remove bias from the hiring process through their predictive data solutions. The company boasts a high-profile roster of investors including the Golden State Warriors NBA All-Star, Klay Thompson.
“The Tri-Valley offers everything companies need to start up and scale: talent, resources, and space to grow. The relative affordability keeps the region an ever-evolving innovation hub,” states ITV CEO Lynn Wallace Naylor. “But it’s the rich culture of innovation and quality of life that can’t be replicated.”
CNBC recently ranked Livermore’s Monarch Tractor #20 on their annual #Disruptor50 list of private venture-backed companies transforming industries. “We knew from an early stage that in order for us to build a tractor company we needed to be in a farming community. We have had a tremendous couple of years since we moved to Livermore. We have gone from 25 employees just 18 months ago to 150 today,” says the autonomous tractor company’s Co-Founder and President, Mark Schwager.
In February, Livermore-based micromobility tech startup ACTON announced their acquisition of micromobility infrastructure provider DUCKT. ACTON is in over 100 cities globally empowering cities and fleet operators with the robust hardware and software technology developed in Livermore. Says Co-Founder and CEO Janelle Wang, “Over three years ago, we landed in Livermore. Behind our headquarters, is a beautiful vineyard where we do our product testing. We are proud to be creating global solutions to move people and goods efficiently from this mecca of energy and inspiration.”
About Innovation Tri-Valley Leadership Group:
Innovation Tri-Valley Leadership Group (ITV) is a collective of leaders and influencers committed to connecting the businesses, educational institutions, research labs, and civic leaders in the Tri-Valley region. ITV showcases the region as a technology and innovation powerhouse, outpacing the Bay Area mega-region in both job creation and economic growth. According to the Tri-Valley Rising report published by the Bay Area Council Economic Institute, the Tri-Valley regional innovation economy drives a $42 billion GDP with over 730 tech companies. Follow us on Instagram, Twitter, and LinkedIn.
To learn more about Innovation Tri-Valley (ITV) and the 2040 Vision Plan, click here.
Media contact information:
Katie Marcel
Innovation Tri-Valley Leadership Group
