Lot of activity this week folks, so bear with me, we can get through this together, it will be worth it. And I imagine you already block off 10 min to read my newsletter every Sunday anyway, right?? Numerous venture findings over $10M, a couple big ticket acquisitions, and Houston-based Cart.com with a casual $98M round - check out comprehensive list of highlights below!
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Austin Financing Activity
Verifiable, an Austin-based healthcare tech infrastructure company, raised $17M in Series A funding. Jack and Sam Altman led the round and were joined by investors including Craft Ventures, Flexport’s Ryan Petersen, Rippling’s Parker Conrad, Front’s Mathilde Collin, Syapse’s Jonathan Hirsch, Todd Goldberg, Rahul Vohra, and Tiger Global.
Kronologic, an Austin-based platform that automatically sets meetings between sales reps and potential clients based on the estimated value of those meetings, added new venture funding led by Signal Peak Ventures with participation from Silverton Partners, Next Coast Ventures, and Geekdom Fund, bringing the company’s seed round to a total of $20M.
Horizen Labs, an Austin-based blockchain technology platform focused on developing secure and programmable blockchains, raised $7M in seed funding. Kenetic Capital led the round and was joined by investors including Digital Currency Group, Liberty City, Sound Ventures, Deribit, Artist Capital, Deus, and LionTree.
Dibs Beauty, a beauty products manufacturer, raised $2.6M of venture funding from Landis Capital, Michael Farello and Jonathan Owsley
Austin M&A Activity
GovOS, a subsidiary of Dallas-based Kofile Technologies Inc.which develops digital document management solutions for government agencies, acquiredMUNIRevs | LODGINGRevs, a Colorado-based tax, licensing, and compliance software platform used by local governments, a week after announcing the relocation of its HQ to Austin.
Other Texas Deal Activity
Cart.com, a Houston-based e-commerce software and services platform, raised $98 million in Series B funding. Oak HC/FT led the round and was joined by investors including PayPal Ventures, Clearco, G9 Ventures, Mercury Fund, Valedor Partners, and Arsenal Growth.
Funimation, a Flower Mound-based joint venture of Sony Pictures Entertainment (NYSE: SONY) and Sony Music Entertainmentfocused on anime, finished its acquisition of AT&T (NYSE: T) owned anime content platform Crunchyroll in a nearly $1.2B deal. AT&T plans to use the proceeds to help reduce its debt.
Phenomune, The Woodlands-based taste sensitivity wellness test kit intended to help people measure their immunity, raised $3.3M of venture funding led by Umbono Capital
Chargify, a billing platform for B2B SaaS, announced the appointment of Matt Downs as Chief Revenue Officer effective immediately. Downs is an accomplished leader who is known for bringing vision, strategy, and an innate ability to see and set growth trends. in April 2021, Battery Ventures led a combined majority growth-equity investment of more than $150 million in Chargify and SaaSOptics.
LiveOak Venture Partners is hiring a Marketing Lead. Great team and firm to work for! You can trust me on that one, I had the pleasure of working for them for 3 years.
REE Automotive Will Open its U.S. Headquarters and First Integration Center in Austin, Texas, as it Prepares for Production in 2023
Austin could become the most expensive city outside California by the end of 2021
2020 Census: Austin falls short of 1 million people but continues to boom alongside other Texas metros
Keystone Bank raises $21M, opens up SBA arm. Founded in 2018, Keystone Bank has already turned into a notable local player with $450 million in total assets.
Last year Austin cut its police budget by millions. A new state law means it’ll likely reverse that move this week
Geoff Lewis, founder and managing partner of Bedrock Capital, which has about $1B in assets under management, announced his move to Austin from New York and the Bay Area, saying that San Francisco "continues to decay" and that "the most rebellious young minds in technology and beyond will increasingly be moving to Texas to find their tribe."
Additional research and newsletter support provided by William Scheffrahn.