Austin Weekly Deal Highlights(7-1-18)

Austin Weekly Deal Highlights

Austin Weekly Deal Highlights for July 1st, 2018

From: “Mason Rathe” <[email protected]> on behalf of “Mason Rathe” <[email protected]>
Sent: Sunday, 01 July 2018 18:41
To: [email protected]
Subject: Austin Weekly Deal Highlights 7-1-18

Austin Weekly Deal Highlights for July 1st, 2018 by Mason Rathe

The M&A party continues. WP Engine with their first acquisition since the $250M check by Silver Lake earlier in the year, Magnitude Software keeps the dice rolling with their 7th acquisition since raising $100M four years ago, and TrendKite with 2 acquisitions to expand their PR analytics platform. Here is your weekly dose of Austin Deal Highlights.

Austin Financing Activity

  • Nulo, Inc., a pet food startup, raised $28.4M in new equity funding. Investors in the company include CAVU Venture Partners and Main Post Partners.
  • Austin- and San Francisco-based cybersecurity company JASK raised a $25M Series B led by Kleiner Perkins with participation from investors including Battery Ventures and Dell Technologies Capital. JASK has now raised more than $37M in funding.
  • Apollo Endosurgery, the medical device company focused on obesity, raised $24M in a public offering. Apollo (Nasdaq: APEN) went public in late 2016 through a reverse merger.
  • Arrive Logistics, provider of a tech-driven freight brokerage platform, raised a $10M Series A led by Lead Edge Capital.
  • Cerebri AI, a developer of software products using artificial intelligence and machine learning, raised a $5M Series A led by M12 (former Microsoft Ventures). The company has raised approximately $7M to date.
  • High Brew Coffee, a maker of cold brew coffees, raised an additional $4.4M of a planned $20M round. That brings its funding on this round to $16.3M. Previously, the company raised approximately $28M.

Austin M&A Activity

  • Nearly six months after securing a $250M commitment from Silver Lake, Austin-based WordPress hosting platform WP Engine is acquiring StudioPress, a Dallas-based company that created the Genesis Framework that’s used to create themes on WordPress sites. Terms weren’t disclosed.
  • Magnitude Software has made its seventh acquisition since raising a $100M four years ago. The enterprise information management software company is acquiring Dutch company Every Angle Software Solutions, which provides business analytics software to businesses using SAP. Terms were not disclosed.
  • TrendKite, a company that helps businesses analyze and expand the reach of PR campaigns, has made two acquisitions to expand into social media analytics and influence, acquiring Austin-based Union Metrics and Atlanta-based Insightpool. In a related move, TrendKite reported $16.7M in equity funding and other securities that are tied to the acquisition and stock purchase, bringing funding to date of approximately $62M.

Austin People

  • CAVU Venture Partners participated in the $50M Series B2 for Hims, a San Francisco-based provider of direct to consumer personal care products for men. IVP led the round.
  • Beamery, a recruitment CRM and marketing platform, raised a $28M Series B led by EQT Ventures with participation from Microsoft’s venture fund M12. Beamery was founded in London in 2014 and it’s U.S. HQ is in Austin.
  • Dell Technologies Capital led a $35M Series B for San Francisco-based enterprise AI application provider Noodle.ai.
  • DCS Global, a Plano-based provider of revenue cycle management software, received an investment from Austin-based Tritium Partners. Financial terms weren’t disclosed.
  • Austin-based ATX Seed Ventures led a $1.5M seed round for QuotaPath, a Philadelphia-based sales software company.

Austin People

  • Consumer fintech startup Self Lender hired Brett Billick as CMO, who was previously CMO of fellow Austin company Sparefoot. Self Lender last raised a $5M Series A last July.
  • E2open, which provides cloud-based supply chain tools, named Jarett Janik as CFO. Janik was previously CFO at Forterro. E2open was acquired by Insight Venture Partners for $273M in 2015.
  • Eventus Systems, a provider of regtech software solutions for the capital markets, appointed three new people to its board. They are Kim Taylor, former president of clearing and post-trade services at CME Group; Fred Hatfield, former commissioner of the U.S. Commodity Futures Trading Commission; and D. Keith Ross Jr., executive chairman of PDQ Enterprises. Eventus last raised a $5M Series A in December.

Austin News

  • Austin will launch the nation’s Largest Autonomous Bus Pilot Project.
  • The U.S. Air Force’s innovation unit, AFWERX, plans to open an office at the Capital Factory in Austin.
  • Online loan marketplace CrowdOut Capital has reached $112M in loans, in less than two years, to the middle market companies using its service. The marketplace connects middle market companies with accredited individuals and institutional investors.
  • Broadmoor rezoning clears way for new mega-development next to Domain; Site pitched to Amazon for HQ2.
  • Army delays decision of where to place its innovation focused Futures Command until July. Austin is one of five metros in the running.
  • WP Engine lands on Fortune’s new 100 Best Workplaces for Millennials.

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Thank you!
Mason Rathe
Phone: (713) 824-4079
Twitter: @mason_rathe
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