The coroner identified the victim as 37-year-old Marvin Ponce of San Fernando.
The shooting occurred around 4 p.m. Wednesday near 7th Avenue and Brooks Court, Los Angeles police said.
Authorities said Ponce was an employee of Right of Way Inc. The company said Ponce was cleaning up traffic control equipment at a Venice site at the end of his day when he was shot.
Right of Way released a statement about Ponce, saying they are heartbroken at the loss of such a "hard-working and talented young man."
"Our most heartfelt condolences, thoughts and prayers are with his friends and family, including his 1-year-old baby girl whom he adored, and we will do all we can to support them during this most difficult time," the statement read in part.
Ponce worked in the company's traffic control department for three years, according to the statement.
"He was never late, he worked hard and treated all of his coworkers with respect. He was a model employee and more importantly, a good man," company president Wes Mollno said in the statement.
No arrests were made, and a motive remains unknown. Right of Way said it is cooperating with authorities in their investigation, adding that a GoFundMe account was set up to help with Ponce's funeral expenses.
The search continues for the suspect, who was described as an African-American male, around 5 feet 8 inches to 5 feet 10 inches tall and between 25 and 30 years old. He was believed to be wearing a black hooded sweatshirt, black jeans and sunglasses.