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Austin Weekly Deal Highlights - June 20, 2021

Don’t worry folks, I might arrive well into the evening, but will never fail to hit your inbox every week. And so let’s see…8VC, who recently relocated their VC firm to Austin, is raising $1B+ in new funds….that’s one way to make an entrance! That should bode well for the local startup community, who continues to see additional funds targeting the region. And another fellow newcomer, Tesla, is making their presence felt around their $1B gigafactory, as we are starting to see several of their suppliers plan factories in the region. When either of yall want to throw a housewarming party, I know a good way to get the word out ;)

Hope all the fathers our there got to spend a wonderful Sunday with their families!

Austin Financing Activity

  • Serenity Kids, an Austin-based baby and toddler food company, closed a $7M Series A led by CircleUp Growth Partners with participation from Wild Ventures, Melissa Urban, Nick Green, Gunnar Lovelace, Katie Wells, Jason and Colleen Wachob, Joe De Sena, and Ben Greenfield; all health and wellness industry veterans.

  • 8fig, an Israel and Austin-based platform aiding online sellers with payments, analytics and forecasting, raised a $6.5M Seed Round led by Battery Ventures with participation by HetZ Ventures, LocalGlobe and the investment arm of the Jesselson Family.

Austin M&A Activity

  • Mobile Tech RX, an Austin-based platform for paintless dent repair and automotive reconditioning businesses, is being acquired by Repairify Inc., a portfolio company of Kinderhook Industries LLC. Although financial details were not disclosed, Mobile Tech RX has reportedly generated $5M in revenue last year after a $4.2M investment from Silverton Partners in 2019.

  • Hayes Software Systems, who provides solutions for asset management and inventory control with integrated help desk capabilities for K-12 schools, was acquired by Frontline Education, a leading provider of K-12 school administration software, for an undisclosed amount. Frontline is a portfolio company of Thoma Bravo and Ares Capital, and was Hayes was previously acquired by Transition Capital Partners, Plexus Capital, and Succession Capital Partners.

  • Forcepoint, an Austin-based cybersecurity company, is acquiringDeep Secure, a UK-based cybersecurity company. The terms of this deal were not disclosed, but this is Forcepoint’s second acquisition since being acquired by Francisco Partners last year.

  • MAP Health Management, a platform that uses technology, data and peer support to treat drug addiction, acquiredCarmahealth. The Austin-based company’s name is an acronym for Collaborative Addiction Recovery Management and Assistance. It is a full-service health care provider and has offices in Texas, Florida, Tennessee and Virginia. It specializes in offering primary and psychiatric care for those struggling with substance abuse.

Other Regional Deal Activity

  • Match Group (NASDAQ: MTCH), a Dallas-based dating app giant, finalized a $1.7B acquisition deal with Hyperconnect, a South Korean social media and video company. This deal, Match Group’s largest one to date, pushes their market capitalization over $41B.

  • Princeton Equity Group, a NJ and Dallas-based private equity firm which specializes in investments in franchise & multi-unit companies, raised $350M for its first fund.

  • Leerfield IMG College, a Plano-based provider of collegiate marketing services, received $242M of development capital from Endeavor, Atairos and Silver Lake.

  • OncoNano Medicine, a Southlake-based biotech company focused on biomarker technology, raised a nearly$50M Series B round led by Advantech Capital. This will raise OncoNano’s total funding to nearly $117M over the last 5 years.

  • Argano, a Plano-based digital services company, acquiredArbela Technologies, an Irving-based digital services provider which specializes in Microsoft products surrounding commerce, ERP, and CRMs. The financial terms of this deal were not disclosed. Argano is backed by Trinity Hunt Partners.

  • Nickson, a Dallas-based furnishing subscription platform, landed a $12M Series A round led by Pendulum Opportunities, with participation from Motley Fool Ventures, Revolution’s Rise of the Rest, and Backstage Capital.

  • CloudNine, a Houston-based automation software for litigation, investigations and audits raised an undisclosed amount from Crest Rock Partners.

Austin People

  • Planview, a global leader in Portfolio Management and Work Management, announced the appointment of Razat Gaurav as Chief Executive Officer, effective immediately. Gaurav, who is also joining the Company’s Board of Directors, succeeds Greg Gilmore, who is retiring and will continue to serve on the Board of Directors. The company was acquired by TPG and TA Associates Management through a $1.6 billion LBO on December

  • SecureLink, a leader in third-party security and compliance, has named Austin-based Patrick Tickle as Chief Executive Officer, succeeding Joe Devine who has served as CEO of the company since 2019. He comes to SecureLink from Planview, where he held the position of Chief Product Officer. Planview, who was acquired by TPG

  • Atmosphere, a business-focused TV streaming service spun out of Chive Media, appointed Micah Grimesas VP of news. Grimes was formerly head of social media for NBC News and MSNBC. Atmosphere last raised a $25M Series B in April from Valor Equity Partners at a reported $275M valuation.

  • Stoplight, an Austin-based API design and documentation platform company, hired Sarah McGettigan as VP of human resources. McGettigan previously held the same role at Dropoff, an Austin delivery company. Stoplight has raised over $20M in funding to date.

  • Conversion Logix, a digital marketing software company, hired Sarah Gaeta as its CEO. Gaeta comes with over 25 years of experience with companies like TiVo Corp., and Adobe Systems(NASDAQ: ADBE).

Austin News

Thank you!

Mason Rathe

Additional research and newsletter support provided by William Scheffrahn.

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