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.
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.
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
Leerfield IMG College, a Plano-based provider of collegiate marketing services, received $242M of development capital from Endeavor, Atairos and Silver Lake.
CloudNine, a Houston-based automation software for litigation, investigations and audits raised an undisclosed amount from Crest Rock Partners.
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
11 Austin founders have been named to Forbes’ Next 1000 list, highlighting private business owners who have under $10M in revenue or funding and have the opportunity to be the next big thing.
Retirement plan provider Guideline expects Austin expansion after scoring $200M in new funding
Battle for the tech workers: Job seekers hold the upper hand after California migration
Tesla Partners With Austin Community College to Find, Train Future Employees
Delivery robots will be on the road in Austin starting Monday
Texas grid demand reaching capacity, ERCOT urging Texans to conserve energy
Amid pandemic, Austin's tech sector quietly boomed
CesiumAstro Inc., a Bee Cave-based space communications company, plans to double its team within a year after tripling its available space by mid-summer. CesiumAstro has raised over $28M to date and counts Airbus Ventures, Kleiner Perkins, Honeywell Venture Capital, Franklin Templeton Investments, and Lavrock Ventures among its investors.
Austin's Indeed Tower being sold for $580 million
Additional research and newsletter support provided by William Scheffrahn.