Austin Weekly Deal Highlights for July 8th, 2018

From: “Mason Rathe” <[email protected]> on behalf of “Mason Rathe” <[email protected]>
Sent: Monday, 23 July 2018 02:13
To: [email protected]
Subject: Austin Weekly Deal Highlights 7-22-18

Austin Weekly Deal Highlights

By Mason Rathe – July 22, 2018

• Share
• Tweet
• Forward
• Share

New look, same newsletter. Hitting your inbox every Sunday with the latest deal activity in Austin, to skim through in between episodes of The Real Housewives. Big news of the week was tech focused PE firm Strattam Capital raised over $200M for their second fund.

Austin Financing News

• Strattam Capital Management, an Austin-based private equity firm investing in established business IT companies, has raised over $200M for its second fund.
• Smart Picture Technologies, a platform to create 3D models of rooms, raised $3.9M in funding. The company has raised approximately $6.3M to date from investors including CTAN, Geekdom Fund, and Holt Ventures

Austin M&A Activity

• YouEarnedIt, which makes software related to employee management and retention, acquired HighGround, which also makes software for HR departments. Terms of the deal were not disclosed. YouEarnedIt received an investment from Vista Equity Partners earlier this year and had previously raised approximately $8M from investors including Silverton Partners.
• OnRamp, an Austin company that provides high security cloud hosting, is being acquired by Des Moines-based data and IT company LightEdge, for an undisclosed amount. OnRamp last raised an undisclosed amount from Balance Point Capital Partners and Next Coast Ventures in 2015.
• ScaleFT, the access management platform for enabling Zero Trust networks with offices in San Francisco and Austin, was acquired by Okta (Nasdaq: OKTA). ScaleFT had raised seed funding from Fathom Capital, Spectrum 28 and Fuel Capital.

Other Relevant Deal Activity

• Silver Lake has offered to make around a $500M convertible preferred share investment in bankrupt radio broadcaster iHeartMedia, who is based in San Antonio.
• Service Fusion, a Dallas-based field service management software provider, raised a $10M Series A led by Five Elms Capital.
• Two of Dallas-based accelerator Tech Wildcatters’ startups have been acquired. Forrester has purchased GlimpzIt, a San Francisco-based customer intelligence platform. Brand Protection Agency, a Dallas based platform that helps manufacturers monitor, manage, and communicate with online resellers, was acquired by Ansira Partners. Terms of both deals were undisclosed.
• Denver based coworking space Galvanize, who has a location in Austin, acquired coding school Hack Reactor, and raised $32M in funding.

Austin People

• Semiconductor maker Silicon Labs named Daniel Cooley as Chief Strategy Officer, and Matt Johnson as Senior Vice President and General Manager of IoT products. Cooley has been heading up Silicon Labs’ IoT business for the past four years, and Johnson was previously with NXP Semiconductors/Freescale.
• Walter Robb, co-founder and former co-CEO of Whole Foods, has taken a new role as executive-in-residence at Chicago VC firm S2G Ventures.
•  GroupBy, an ecommerce solutions company, promoted Peter Messana as COO, from SVP of product and support. The company has offices in Austin and Toronto, and recently raised an undisclosed amount from PeakSpan Capital.

Austin News

• SparkCognition, an Austin-based artificial intelligence company, is partnering with Boeing (NYSE: BA) on a project that could manage tens of millions of autonomous aircraft.
• Dynalyst Corp, an Austin-area business that makes printed circuit boards for testing electronics, has declared Chapter 11 bankruptcy.
• Austin office rents soar to new record in second quarter, as firms are paying an average of $55 per square foot downtown.
• Sputnik ATX Picks Five Startups In Second Austin Accelerator Class
•  Ofo, the Chinese dockless bike company that launched in Austin in June, is leaving the city as it backs out of most U.S. markets, as well as Germany, Australia, India and Israel.
•  New York-based GLG doubles down on Austin with expansion, room for 730 employees downtown. GLG specializes in connecting businesses to experts

Upcoming Events

• July 24th, Future Tech Showcase
• July 26th, Austin Inno’s Coolest Companies Fest
• July 28th, The Social Impact Summit presented by Legacy Collective
• August 9th, Summer Startup Pitch and VC Panel: Turn Your Dreams Into Reality

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.

View on Web | Subscribe to this Newsletter
You can update your preferences or unsubscribe from this list.