Subcity Secures Historic $10M Tax-Credit For Manufacturing Client - Among Top 25 Tax-Credits Ever Awarded in California

ABOUT US

Subcity is an early-stage startup democratizing access to capital for America's small businesses — starting with manufacturers.

Join Us

The founding team of three consists of a repeat venture backed CEO, an economic development expert, and a proven engineering leader with both startup and big tech experience. We're backed by top-tier seed investors and would love for you to join us!

Subcity Co-founders Arrow

Subcity Secures Historic $10M Tax-Credit For Manufacturing Client - Among Top 25 Tax-Credits Ever Awarded in California

Los Angeles, Calif. - April 21, 2022 - Today Subcity (www.subcity.com), a free online platform that identifies and secures tax-credit and incentives for SMBs, announces that it secured access to $10M in tax-credits for Dr. Squatch, a California-based manufacturing client. This represents one of the top 25 largest tax-credits to ever be awarded in the state’s history.

Subcity provides manufacturers like Dr. Squatch a curated and personalized list of qualified incentives that can deliver thousands, if not millions, of dollars. The award comes just six months after a $3M funding round for Subcity led by Homebrew, BoxGroup, Slauson & Co, V1VC, The Fund, and IA Ventures.

“Subcity’s mission is to support the 98% of manufacturers that are overlooked and underserved by the current state of government incentives and tax credits,” said Alex White, CEO and co-founder, Subcity. “These financial programs are often so complex or hard to find that only the largest companies with high-powered accountants and consultants apply. Subcity’s game-changing online platform finds and applies for all available tax incentives. It's giving California-based manufacturers access to the same financial benefits as the country’s largest corporations.”

Subcity combines the expertise of successful repeat founder Alex White, economic development & incentives expert Gil Gonzales, and proven technologist Chris Clark. The founding team brings their collective knowledge of SaaS and government to develop a software platform that combines human expertise with algorithmic automation.

“The collective experience of the team at Subcity is unmatched in the industry and when it's combined with innovative automation software, it creates a solution that will help businesses across the country,” said Hunter Walk, Partner, Homebrew. “The procurement of up to $10M in tax-credits on behalf of one of their first clients demonstrates the platform’s advantage over expensive consultants and other online services that cost more and deliver less.”

Founded in 2013, Dr. Squatch employs nearly 300 individuals at their California locations of Rancho Dominguez and Marina Del Rey. As a community-oriented producer of natural personal care products, the company has donated nearly 2.3 million bars of soap through its partnerships with different organizations.

“The application process was overwhelming but Subcity made it simple. The $10M tax-credit they gave us access to will go directly into supporting our business operations,” said Tom Ramhorst, COO, Dr. Squatch. “Subcity is leveling the playing field and placing government dollars back into the hands of companies that represent the backbone of American economic growth.”

Subcity’s mission is to democratize access to capital and tax credits for America's small manufacturers. “We believe in entrepreneurship to close the wealth gap, but only if everyone has access to the tools necessary to compete,” said Austin Clements, Partner, LA-based Slauson & Co., and Subcity investor. ”We're not surprised at all by Subcity’s rapid success with supporting entrepreneurs and look forward to watching them put government dollars into the hands of more small businesses at scale."

For more information about Subcity, and to see what government incentives might be available to your company, please visit their website at: www.subcity.com.

About Subcity
Subcity, founded in 2021, is a free online platform that delivers personalized results for users to discover millions of dollars in tax credits and incentives available to businesses. By leveraging its founders’ years of expertise in government and SaaS, the innovative platform makes it easy to identify and apply for financial incentives.

Subcity easily integrates into existing accounting software and saves countless hours with instant alerts when new incentives/grants become available. Subcity ensures that businesses, no matter what size, receive every economic benefit possible. For more, visit www.subcity.com.

Data Analytics

Pledge 1%

Subcity is a mission-driven organization. At our founding, we set aside 1% of our equity for a charity that deeply aligns with our goal of helping small businesses succeed: The SBDC is the most comprehensive small business assistance network in the United States and its territories.

  • America’s SBDC represents America’s nationwide network of Small Business Development Centers.

  • SBDCs are hosted by leading universities, colleges, state economic development agencies and private partners, and funded in part by the United States Congress through a partnership with the U.S. Small Business Administration.

  • There are nearly 1,000 local centers available to provide no-cost business consulting and low-cost training to new and existing businesses.

  • Small business owners and aspiring entrepreneurs can go to their local SBDCs for FREE face-to-face business consulting and at-cost training on a variety of topics. Learn more about how SBDCs are helping local businesses start, grow and thrive.

MEET THE TEAM

Who We Are

Alex White

Alex White

CEO

"For as long as I can remember I've been interested in collective intelligence and predictive analytics in complex, adaptive systems. I want to work on hard and important problems with smart people for the rest of my life and with Subcity's mission and team I feel like I've hit the jackpot. I love leading a diverse team of experts, constant personal and business growth, and learning new things."

Alex White

Alex White

CEO

"For as long as I can remember I've been interested in collective intelligence and predictive analytics in complex, adaptive systems. I want to work on hard and important problems with smart people for the rest of my life and with Subcity's mission and team I feel like I've hit the jackpot. I love leading a diverse team of experts, constant personal and business growth, and learning new things."

  • Previous company, Next Big Sound, Inc., grew to 25 people, millions of dollars a year in revenue, raised two rounds of venture capital, and sold to Pandora (NYSE: $P) in 2015.
  • VP in charge of all music, podcast, and comedy recommendations and personalization at Pandora ultimately reporting into the SiriusXM President and Chief Content Officer.
Gil Gonzales

Gil Gonzales

President

"As someone who comes from farmworker roots in the Central Valley of California, along with being the first in my family to graduate college, I understand how information, knowledge, and technology can empower people and change their lives for the better. That is why we founded Subcity, to empower small business owners across the nation and provide tangible capital to help them hire employees and create sustainable and thriving communities. When I'm not directly working with small business owners, you'll find me playing in the dirt with my two-year old son Titus or watching Daniel the Tiger with him."

Gil Gonzales

Gil Gonzales

President

"As someone who comes from farmworker roots in the Central Valley of California, along with being the first in my family to graduate college, I understand how information, knowledge, and technology can empower people and change their lives for the better. That is why we founded Subcity, to empower small business owners across the nation and provide tangible capital to help them hire employees and create sustainable and thriving communities. When I'm not directly working with small business owners, you'll find me playing in the dirt with my two-year old son Titus or watching Daniel the Tiger with him."

  • Former Appointee to Governor Brown in the California Office of Business and Economic Development.
  • Directly negotiated $150M+ in economic incentives on behalf of hundreds of businesses with over $1.7B in capital expenditures.
  • Author of Government Incentives: Tax Credits, Grants, Cash Reimbursements & Financing The Insider’s Guide to Government Funding for your Small Business
Chris Clark

Chris Clark

CTO

I've seen first hand the power and scale software can provide for app developers and creators. I am incredibly energized to tackle this opportunity for small businesses. When not working, I enjoy helping others find fulfilling careers, building and exercising in my home gym or reading about hyper-specific aspects of culture, economics and history.

Chris Clark

Chris Clark

CTO

I've seen first hand the power and scale software can provide for app developers and creators. I am incredibly energized to tackle this opportunity for small businesses. When not working, I enjoy helping others find fulfilling careers, building and exercising in my home gym or reading about hyper-specific aspects of culture, economics and history.

  • Former head of Music Growth and Monetization at YouTube. Founding PM and head of music data at YouTube. Launched App Store Connect at Apple.
  • Grew up working in family run business. Started career as part of a small team that built a multi-currency, multi-rights holder 100M transaction per month royalty processing system at IODA (acquired by Sony Music).
  • Pure math major at UCLA and UC Berkeley PhD dropout.

EARLY BELIEVERS

Current and former executives from top FinTech companies like:

Top seed investors like:

RESOURCES

More reading on economic development incentives:

The objective of offering subsidies and development incentives to businesses is done to encourage economic and community development through:

  1. Creating and retaining quality jobs;
  2. Broadening and diversifying the tax base;
  3. Encouraging capital investments;
  4. Increasing the region’s global competitiveness;
  5. Promoting the growth and welfare of the city and county;
  6. Reducing crime;
  7. Improving community reputation;
  8. Redevelopment of key neighborhoods;
  9. Encouraging regional cooperation;
  10. Education of the community about public benefits.