Austin Weekly Deal Highlights for December 09, 2018

From: “Mason Rathe” <[email protected]>
Sent: Monday, 10 December 2018 02:56
To: [email protected]
Subject:Austin Weekly Deal Highlights 12-9-18

Austin Weekly Deal Highlights

By Mason Rathe – December 9, 2018

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Big week for Austin startups, giving everyone a little more to celebrate in what is officially holiday party season! Recent financing activity includes mobile education platform Aceable, who reeled in a substantial $47M round. The platform focuses on sectors including drivers education, and after seeing how the rain affected Austin traffic this week, maybe a few of us could use a refresher course… Happy holidays everyone!

Austin Financing Activity

• Aceable, a mobile education platform, raised a $47M Series B led by Sageview Capital. The company has raised approx. $56M to date from investors including Silverton Partners, Floodgate Fund, and NextGen Venture Partners.
• Personiv, a provider of business process outsourcing services, received $30M of debt financing from CrowdOut Capital, according to Pitchbook.
• SourceDay, a purchase order management platform, raised a $6.5M Series A from Silverton Partners, Draper Associates and ATX Seed Ventures. The same firms led the company’s $3.5M seed round in 2017.
• Austin Cocktails, a provider of crafted cocktails drinks, raised $4.3M in venture funding from investors including the new venture arm of alcohol beverage company Constellation Brands.
• Shelfbucks, a supply chain optimization platform, raised $2.55M of convertible debt from Musketeer Capital and other undisclosed investors, according to Pitchbook. The company has raised approx. $26M to date from investors including FirestarterFund, HomeAway, and Google.
• FlexFleet, an Austin company in stealth mode, raised $2.1M in equity financing.
• Enzyme Health, a telehealth job marketplace, raised $1.7M in seed funding led by Silverton Partners.
• Amgine Technologies (HelloGbye), a provider of a travel plans app, raised $1.25M of convertible debt. The company has raised approx. $8M to date

Austin M&A Activity

• Austin-based digital banking software developer Q2 Holdings acquired Gro Solutions, an Atlanta-based account opening technology provider. Financial details of the acquisition were not announced. Q2 (NYS: QTWO) went public in 2014 and has a market cap of $2.1B.
• Neverfail, a cloud based infrastructure platform, was acquired by Online Tech, an Ann Arbor, Mich.-based cloud solution provider. Financial details weren’t disclosed.
• Truesource Labs, an Austin IT and IoT company, has been acquired by Everise, a Singapore-based IT company, for an undisclosed amount.

Other Regional Deal Activity

• JetPay, a Carrollton-based payment processing, payroll management and human resources company, is being acquired by NCR (NYSE: NCR) for $184M.
• GrainChain, a McAllen-based blockchain platform for the agricultural ecosystem, raised $2.5M of venture funding from Medici Ventures
•  ProRata, a San Antonio-based provider of revenue recognition software, was acquired by Chargify, via its financial sponsor Scaleworks
• Houston -based Symplr, a provider of healthcare governance, risk, and compliance software, has been acquired by private equity investor Clearlake Capital Group, for an undisclosed amount.

Austin People

• Dropoff, a same-day delivery and logistics platform, added two key executives as they continue their city expansion. They named Neil Seth as CTO and Rey Madolora as CFO. Seth was previously CTO at video game subscription service GameFly, and Madolora was previously part of the founding team at Hangar Technology. Dropoff has raised approx. $22M to date from investors including Wild Basin Investments, Greycroft Partners, and Fulcrum Equity
• Tenfold, a software solution that produces a unified view of previous customer engagement, named Jeff Cotten as its new CEO. Cotten was previously interim CEO at Rackspace Hosting and was also its chief customer and revenue officer. Tenfold has raised approx. $30M to date from investors including Next Coast Ventures.
• Razberi Technologies, a Dallas-based provider of a digital surveillance platform backed by Austin-based LiveOak Venture Partners, named tech veteran Doug Dickerson as CEO. Most recently, he served as CEO of Coban Technologies. Founder and former CEO Tom Galvin has been appointed chief product officer. The company has raised over $7M to date.

Austin News

• The Top Austin Tech and Startup Hires and Departures in November 2018
• Dell readies for shareholder vote on Tuesday regarding taking the company public; here’s what it means for Austin
• TreeHouse, an environment-friendly home supplies and tech store that was founded in Austin before moving to Dallas, has shut down. The company had raised approx. $45M.
• Apartment Butler, a Houston-based apartment concierge platform, is expanding to Austin in January. The move comes after the recent $2M round of funding from Houston-based Mercury Fund.
• Riverbend Solutions Group, a middle-market consulting and private equity firm based in Dallas, partnered with TMV Business Group, an advisory and brokerage firm for startups. The new firm will be called TMV – A Riverbend Company and it will be based in Austin.
• Lyft scooters are officially live in Austin. They recently deployed 500 scooters here.
• Brett Hurt – The Entrepreneur’s Essentials #9: How, and why, to ask for help

Upcoming Events

• December 12th, Startup Grind Holiday Happy Hour

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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