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Austin Weekly Deal Highlights - Jan 10, 2021

Alright Texas, we are off to the races, lot of deals across the state this week. This bustling activity keeps up with the momentum from last year, and so I encourage you to capitalize on this once in a lifetime opportunity to check out my Q4 Houston and DFW venture highlights! O, and I thought you might like to know – after years of public and political pressure, I’ve decided the point has come to remove Donald Trump as a subscriber to this newsletter.

Austin Financing Activity

  • Vista-backed Khoros, a customer engagement software company, received an undisclosed amount of financing and acquired customer experience analytics software company Topbox for an undisclosed sum. Khoros was acquired by Vista Equity Partners in 2017.

  • Icon Technologies, a developer of construction technologies intended to build 3D-printed homes for communities in developing countries, raised approx. $7M from undisclosed investors. To date, the company has raised approx. $50M.

  • Mighty Swell, a ready-to-drink alcoholic beverage company, raised approx. $10M from undisclosed investors. To date, the company has raised approx. $25M.

  • JobSiteCheck, a worker health, productivity and project efficiency company, raised $600k.

Austin M&A Activity

  • Austin-based FlashParking, a parking management software company, is going to merge with Chicago-based Arrive, another company in the same space. Financial terms of the deal were not disclosed. FlashParking raised approx. $67M from investors including L Catterton, Geekdom Fund, and Austin Ventures.

  • Austin-based PE firm Peak Rock Capital acquired Shipley Do-Nuts, a Houston-based quick-service restaurant franchisor.

  • Vector Capital completed its purchase of Mood Media, an Austin -based provider of in-store media solutions. Mood Media previously received a $240M commitment from HPS Investment Partners in August after emerging from bankruptcy.

  • Austin and Boulder-based Yonomi, a third-party device integration company, has been acquired by Dublin-based security firm, Allegion for an undisclosed sum. Allegion has been an investor in Yonomi since 2017.

  • Austin-based Unico Solution, a data and technology consulting company, will be acquired by Chicago-based tech consulting company, Huron Consulting Group for an undisclosed sum.

  • Austin-based Impero, an education software maker, is acquiring Denmark-based Netop, a company in the same space. Financial terms of the deal were not disclosed.

Other Regional Deal Activity

  • Early stage Houston VC firm Cottonwood Venture Partners Raises $64 Million for Second Fund and Changes Name to Montrose Lane

  • Houston-based Coya Therapeutics, a biotechnology company that focuses on treating neurological disorders, raised $10M from undisclosed investors.

  • Houston-based Qualitas Health, an algae farming company, raised $10M in funding led PeakBridge Partners, with participation from Minrav Holdings and other investors. To date, the company has raised approx. $18M.

  • Dallas-based Kanarys, an anonymous job review platform raised a $3M seed round from Zeal Capital Partners, Morgan Stanley, and Rise of the Rest Seed Fund. To date, the company has raised $4.6M.

  • Dallas-based Dialectic Therapeutics, a biotechnology company specializing in anti-cancer drugs, raised $2.9M in debt and other options.

  • Southlake-based Mindzie, a business process optimization software company, raised $2.3M from undisclosed angel investors.

  • Fran Harris, former WNBA champion and founder of Austin- and Dallas-based sports beverage company Electra Beverages, pitched her product on Shark Tank and received a $100k investment and a $250k line of credit from Barbara Corcoran for a 30% stake in Electra.

  • Carrollton-based UniFocus, a workforce management company, received an undisclosed amount of funding from The Riverside Company.

  • Kentucky-based VoicePad, a real estate-focused automated lead generation company, has been acquired by Frisco-based real estate technology solutions company, Elm Street Technology. Financial terms of the deal were not disclosed.

  • Richardson-based Bullymake, a dog treat and toy manufacturer, will be acquired by Missouri-based Manna Pro Products, an animal nutrition care company, via its financial sponsor The Carlyle Group, through an LBO for an undisclosed sum.

  • Richardson-based property management software company, RealPage acquired Alabama-based WhiteSky Communications, a telecom and VOIP service provider, for an undisclosed amount. RealPage recently entered into a definitive agreement to be acquired by Thoma Bravo for $10.2B.

  • Beaumont-based AmeriCommerce, an e-commerce software and services built for high-volume online stores & complex products, was acquired by Houston-based end-to-end e-commerce platform cart.com for an undisclosed sum. AmeriCommerce was a subsidiary of Capital One.

  • Dallas-based Black Box Intelligence, a restaurant research and analytics company, was acquired by Diversis Capital for an undisclosed sum.

  • Montgomery-based GEOS Worldwide, a security, safety, and risk mitigation company was acquired by GPS and wearable technology company Garmin for an undisclosed sum.

  • Sugar Land-based Sigga Workforce Technologies, a business productivity SAP mobile application developer, received an undisclosed amount of funding from Gemspring Capital.

  • Katy-based Velentium, a medical device manufacturer, acquired Magnolia, Texas-based Oasis Training, a designer of automated test systems for the energy and manufacturing industries. Financial terms of the deal were not disclosed.

Austin People

  • Austin-based early stage venture firm, Santé Ventures, promoted partner James Eadie to managing director. Eadie joined the company in 2010 and previously served in the U.S. Air Force. Apollo Endosurgery founder, Dennis McWilliams and Omar Khalil, who most recently worked at Kaleo and Baxter International were also promoted to partner. The firm also hired former CIO of Whitespace Solutions, Victoria Nguyen to serve as the head of data and analytics. Lastly, Santé hired former director at Brookslands Capital Strategies Brooke Jones as its head of capital formation.

Austin News

  • Wall Street Journal: ‘Startup City’: Accelerated Growth Strains Austin

  • What to Expect in Austin 2021: Thoughts from a Lobbyist

  • 100 Best Places to Work in Austin in 2021, according to BuiltIn Austin

  • These 10 Austin Tech Companies Raised a Total of $767M in 2020

  • After announcing it is moving HQ to Austin, Oracle puts trophy tower in Silicon Valley up for sale

  • Eventus Systems, a leading global provider of multi-asset class trade surveillance and market risk solutions and LiveOak portfolio company, experienced unprecedented growth on multiple fronts in 2020, marking its strongest year to date in revenue and new client onboardings.

  • Silicon Valley entrepreneur Joe Lonsdale, who recently moved to Austin, wants to build a new tech city near Austin and a tunnel transportation system to develop an even bigger tech hub.

  • More people moved to Austin in 2020 than any other Texas city

  • Business intelligence platform Truelytics Relocates HQ to Austin from Boston.

  • SolarWinds faces lawsuit following the massive cyberattack

  • The world’s richest person lives in Texas- Tesla CEO Elon Musk is now the wealthiest person in the world, who announced he was moving to Texas (100% sure its Austin) late last year. Tesla has surged in value in recent history, and is now worth more than Toyota, Volkswagen, Hyundai, GM and Ford combined.

  • And speaking of which, Elon Musk’s Neuralink may put roots down in Austin

  • And one more - Tesla deal wins Austin Chamber of Commerce the 2020 Deal of the Year award

  • U-Haul data ranks Texas No. 2 in nation for move-ins

Thank you! Mason Rathe, an early stage investor with LiveOak Venture Partners Additional research and newsletter support provided by Dipesh Mehta

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