Austin Weekly Deal Highlights(10-28-18)

Austin Weekly Deal Highlights

Austin Weekly Deal Highlights for October 29, 2018

From: “Mason Rathe” <[email protected]>
Sent: Monday, 29 October 2018 02:00
To: [email protected]
Subject:Austin Weekly Deal Highlights 10-28-18

Austin Weekly Deal Highlights

By Mason Rathe – October 28, 2018

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Although I personally won’t spend $400 on a YETI Cooler, I may be one of those people who spend $20 on one of their hats, and if others assume I’m enough of a baller to own the cooler, that’s on them. This week, YETI made their IPO debut, joining the ranks of 39 other companies in Austin on major public exchanges. Remember to vote everyone! Early voting ends November 2nd.

Austin Financing Activity

  • YETI Coolers, the cooler, drinkware and apparel company, went public on Thursday, raising $288M in their IPO with a market cap of approx. $1.4B. It priced at $18 per share, below its $19 to $21 range, posting revenue of $639M in 2017 on $15M of net income. It will list on the NYSE as “YETI.”
  • Coder Technologies, a cloud based software development platform, raised $6.9M in equity funding from undisclosed investors.
  • Alafair Biosciences, a medical device company developing a hydrogel wrap for tendon injuries, raised $2.3M in equity funding. The company had previously raised approx. $4.3M from investors including TEXO Ventures and ATP Fund.

Austin M&A Activity

  • E2open, a supply chain software company, is acquiring INTTRA, an ocean shipping logistics platform. E2open was acquired by Insight Venture Partners through a public-to-private LBO for $273M in 2015.
  • Kony, a platform for businesses to develop and manage their own applications, is acquiring the assets of Pivotus, a Portlandbased subsidiary of digital banking company Umpqua Holdings Corporation, which is the parent company of Umpqua Bank. Terms weren’t disclosed. Kony has raised over $150M to date from investors including Orix Growth Capital and Insight Venture Partners

Other Regional Activity

  • JetPay (NAS: JTPY), a Carrollton-based payment processor, is being acquired by point of sale terminal maker NCR (NYSE: NCR) for $184M.
  • Sugarland-based Trafficware, a developer of traffic management systems used by cities and transportation agencies, has been sold to California-based Cubic Corporation, for $235.7M in cash.
  • Noventus, the Houston provider of payment and transaction processing services, is being acquired by commercial payments company WEX (NYS: WEX) for an undisclosed amount. Noventus is an Austin Ventures portfolio company
  • Houston-based Ruths.ai, a developer data analytics software for the oil and gas industry, raised $5M of development capital from SCF Partners, which is also based in Houston.
  • Symplr, a Houston-based healthcare platform, offering provider management, credential management and payer enrollment services, is being acquired by Clearlake Capital Group for an undisclosed sum.
  • HerdX, a Boerne-based platform to track and manage animal herds, raised $5M of angel funding.
  • Thursby Software Systems, an Arlington-based mobile security company, is being acquired by Identiv (NAS: INVE) for an undisclosed amount

Austin (and Relevant) People

  • National Instruments (Nasdaq: NATI), the developer of measurement and automation software, appointed Eric Starkloff as its president and chief operating officer. Starkloff has been with NI since 1997. The shift allows former Alex Davern, to shift to longterm projects. The Austin company IPO’d in 1995, and has a $6.6B market cap.
  • Grace Rodriguez, the Station Houston co-founder, is leaving the Houston-based startup hub to become CEO of Hub Houston, a new organization that promotes innovation in social change

Austin News

  • Austin is Named the No. 3 Tech Town in the U.S, topping San Francisco, Seattle and Boston, based on a variety of metrics focused on job opportunities, salary, cost of living and quality of life.
  • Silicon Labs (NASDAQ: SLAB), a provider of silicon, software and solutions for the connected world, again topped Wall Street analysts’ forecasts. Revenue in Q3 established a new, all-time record, exceeding the high end of guidance at $230M, up from $217M in Q2. The company continues to focus on the IoT market, with that business’s revenue climbing 25% year-on-year.
  • Deals, deals, deals: 6 of this month’s biggest tech acquisitions in Austin
  • Honor, a San Francisco-based platform offering professional in-home care services for older adults, is opening the company’s second operations center, to be located in at the Domain. The company has raised over $110M to date.
  • Uber enters Austin’s e-scooter market with JUMP Scooters. On a related note, a new class action lawsuit filed in Los Angeles accuses several of the largest scooter operators of “gross negligence,” citing a spike in user injuries.
  • Five local companies make Fortune’s Best Companies to Work For list, including Square Root, Book in a Box, WP Engine, Cirrus Logic and CWS Apartment Homes
  • Austin tops the Texas video game market. Out of the 270 gaming companies operating in the state of Texas, 140 are located in Austin.
  • UT computer science researcher Keshav Pingali awarded $5M grant from Department of Defense
  • WeWork plans to open its sixth space in Austin, at 316 W. 12th St., where it will house 1K members.

Upcoming Events

Thank you!
Mason Rathe
Twitter: @mason_rathe

LiveOak Venture Partners

Think you might be a fit for LiveOak, if I missed a deal, or have feedback, you can reach me at [email protected] If your company is recruiting for a senior level position, happy to include a shout-out.

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Austin Weekly Deal Highlights · Austin, Texas · Austin, TEXAS 78731 · USA