Austin Weekly Deal Highlights

August 22, 2021

I know folks want to talk about Austin A-Listers, but let’s take a moment to talk about the B-Listers… And by B-Listers, I have to give a shoutout to a couple nice Series B rounds this week, for RapidDeploy, Imubit, and ClosedLoop.ai! I love seeing company formation, and early-stage rounds, but unfortunately only a small fraction of the companies will sustain success over the long term, and the Series B is another step in that direction. Looking forward to more of these to come!

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Thanks to this week’s newsletter sponsor!

Escalate Capital Partners is an Austin-based growth capital fund founded in 2005. Since its inception, Escalate has invested more than $1B into over one hundred rapidly growing, venture-backed companies. The Escalate team has investment experience within the technology, software, services, and healthcare sectors. To learn more about how our capital solutions can accelerate growth, reach out to us at any time - info@escalatecapital.com

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Austin Financing Activity

• RapidDeploy, a public safety technology company working to accelerate Next Generation 911, raised a $40M Series B led by Morpheus Ventures with participation from Ericsson Ventures, GM Ventures, and Tau Ventures. The company has raised approx. $70M to date.

• ClosedLoop.ai,  healthcare's data science platform, raised a $34M Series B led by Telstra Ventures with participation from Breyer Capital, Greycroft Ventures, .406 Ventures, and Healthfirst, 

• Rocket Dollar, a financial platform intended to help users make alternative investments, raised $8M of venture funding from undisclosed investors. It previously reported raising about $4.6M. 

• Bloomfire,  a knowledge engagement software platform, received a significant growth investment from Primus Capital. The company previously raised approx. $20M from investors including Austin Ventures and Redpoint Ventures.

• Earbuds, a social listening app, raised a $3M Series A. Ecliptic Capital led, and was joined by the Andre Agassi Foundation and LFG Ventures

Austin M&A Activity

• Austin-based IgniteTech, the company "Where Software Goes to Live” announced the acquisition of three new software solutions — BiznessApps, Infinio and School Loop — from another business unit within the ESW Capital organization. IgniteTech is a software consulting firm acquired by Trilogy, via its financial sponsor ESW, in 2006.

Other Texas Deal Activity

• Imubit, a Houston-based closed-loop neural network platform, raised $30M Series B led by Insight Partners and Zeev Ventures. 

• Electronic Transactions Consultants, a Richardson-based highway tolling systems software, reached a definitive agreement to be acquired by Quarterhill (TSE: QTRH), a subsidiary of International Road, for $120M. 

• KARE, a Houston-based digital labor marketplace for senior care and post acute care facilities, raised $7.85M Series A led by Golden Section Ventures

• Chargeback Gurus, a McKinney-based chargeback prevention and recovery platform, was acquiredby Falfurrias Capital Partners, for an undisclosed amount.

• DocSpace, a Houston-based digital health commerce platform for clinicians to start, manage, and grow tech-enabled private practices, raised $1.2M in seed funding led by Slauson & Co., with participation from Precursor Ventures, Acrew Capital’s Scout Fund, and SputnikATX Ventures.

• Fluence Analytics, a Stafford -based develops products for manufacturers to use to collect data and analyze polymers and material properties, raised $7.5M of venture funding from Diamond Edge Ventures, Yokogawa Electric and JSR Limited.

Austin People

• Firefly,  a leading provider of economical and dependable launch vehicles, spacecraft, and in-space services names  Lauren Lyons, former SpaceX and Blue Origin Veteran, as Chief Operating Officer. This appointment comes on the heels of Firefly’s recent component business announcement and preparation for its upcoming launch from Vandenberg Space Force Base in California.

• Point Health, a digital health tech startup in Austin, added Doug Bain as Chief Growth Officer to its executive leadership team. Prior to joining Point Health, Bain was the Chief Growth Officer at Adhere Health and has previously held key roles at Sales Benchmark Index, eyeQ, and CVS Caremark.

Austin News

• 111 Austin companies rank on 2021 Inc. 5000

• More than 250 companies circling Austin area

• Why Austin, Texas Becoming the New American Tech Hub

• Sputnik ATX, Austin-Based Venture Capital Fund and Accelerator, Announces Its Summer 2021 Cohort 

• Meet the Fall 2021 TVL Accelerator Companies

• Austin's jobless rate fell to 4.2% in July, lowest since COVID struck 

• Austin ranks in top cities for electric vehicles as Giga Texas on the way

• How Austin Became The Bitcoin Mecca Capital of Texas.

• 101 Most Innovative Austin Based Machine Learning Companies

• Beer giant Anheuser-Buschplans downtown Austin office

•  Software Startup NinjaRMM Opens New Austin HQ for Growing Team 

Thank you!

Mason Rathe