Atlanta startups raised at least $66.1 million in October, mostly in early-stage rounds.
Those funding rounds add to the $2.98 billion that Georgia startups have raised in the first three quarters of the year, according to the PitchBook-National Venture Capital Association Venture Monitor report.
If the capital flow continues, 2021 could break 2019’s funding records by almost double.
This month’s funding amount is a significant drop from other months during the year, showing a typical ebb and flow of capital. The most lucrative month for Atlanta startups was January when they raised more than $850 million.
October also brought two new venture capital funds, increasing access to local, early-stage capital.
Here’s a breakdown of the funding and acquisition deals of the month in case you missed it. As always, subscribe to The Beat newsletter and get these deals in your inbox as they happen.
Funding
GigLabs raises $4.5M
Atlanta blockchain startup GigLabs raised $4.5 million to help sports and entertainment brands launch non-fungible tokens or NFTs. Panoramic Ventures led the round with Dapper Labs, a venture-backed NFT company behind NBA Top Shot, an NFT exchange for professional basketball games — a modernized version of trading sports cards. Other investors include Collab+Currency, Red Beard Ventures, Eterna Capital, Alumni Venture Group, Gaingels and Amino Capital. Read more.
Vivo raises $1.1M
Atlanta online strength training fitness startup Vivo raised a $1.1 million seed round. Eight investors participated in the round, according to the SEC filing. The individual investors are from Atlanta and the healthcare and aging industry, CEO Eric Levitan said. The raise is listed under Impactiv Inc., Vivo’s corporate name. Vivo has 16 employees, mostly contracted trainers. Levitan plans to hire four people in sales, product, marketing and operation. The seed round will also go toward customer acquisition, both direct-to-consumer and business-to-business strategies. Read more.
Audit Sight raises $2.5M
Audit Sight, an Atlanta audit software startup founded by accounting veterans, has raised a $2.5 million seed round to launch its product. The round was led by Chicago-based Hyde Park Venture Partners, with participation from Alumni Ventures Group and the following individual investors: Greenlight CEO Johnson Cook; Sprout Social co-founder Aaron Rankin; and Guidewire Software co-founders John Seybold and Ken Branson. Read more.
Ninety.io raises Series A
Ninety.io, an Atlanta software startup, raised a Series A round led by New York-based Insight Partners. The company did not disclose the financial details of the round. Ninety.io, founded in 2017 by CEO Mark Abbott, helps small businesses use the Entrepreneurial Operating System with cloud-based software tools. Insight Partners, a growth-stage firm, has put almost $1 billion behind Atlanta software startups, including local unicorns OneTrust and SalesLoft.
FlowPath raises $1.2M
FlowPath, an Atlanta facilities management software startup, raised a $1.2 million seed round led by Parade Ventures with participation from Bonfire Ventures and Heroic Ventures. FlowPath, led by founders Alex Cummings, Brandon Cummings and Griffin Hamilton, aims to automate and simplify work orders, maintenance, communication, notifications and projects for facilities managers.
SnapNurse parent company files $17.8M raise
Atlanta-based SnapMedTech Inc. filed a $17.8 million funding round with the U.S. Securities and Exchange Commission, indicating continued growth for the fastest-growing company in metro Atlanta. SnapMedTech is the parent company of SnapNurse, an on-demand medical staffing platform, and Paymint, a financial technology platform that enables employees to get paid daily. It earned the No. 1 Pacesetter Award from Atlanta Business Chronicle for its 77,000% growth in 2020. Read more.
Now Corp. receives $29M investment
Now Corp., a financial technology co-founded by Stacey Abrams, secured $29 million in financing and an equity investment from Brigade Capital Management LP and Virgo Investment Group. The company hired Sejal Shah Gulati, a fintech veteran, as chief growth officer, demonstrating its commitment to scaling. Now has 25 employees and plans to hire across every sector, including customer success, marketing and technology. The startup is gearing up to move into The Dupree building off Powers Ferry Road near the perimeter. Read more.
MedZed raising $6M
MedZed LLC, a health technology startup, is raising a $6 million round, according to an Oct. 5 filing with the U.S. Securities and Exchange Commission. As of filing, the startup has raised $4.5 million. The company connects patients who need at-home care with its national network of healthcare providers and provides telemedicine services. Founded by CEO Scott Schnell and chief medical officer Neil Solomon in 2014, MedZed is based in Atlanta with operations in California, Washington, Maryland and New Jersey. It acquired Integra ServiceConnect in 2020 to better engage new members.
Greenzie raises $4M
Automated software startup Greenzie raised $4 million to roll out more robotic landscape workers. Atlanta Ventures led the round. TechSquare Labs, former CallRail CEO Andy Powell, Rigor founder Craig Hyde, TechOperators Partner Tom Noonan and New York-based Kelmhurst LLC also participated. Greenzie, led by CEO Charles Quinn, produces software that automates commercial lawn mowing. Wright Manufacturing produces the lawnmowers, which are outfitted with Greenzie sensors that allow them to cut lawns on their own. Read more.
Venture Capital
Overline closes second fund
Atlanta early-stage investment firm Overline LLC has closed a $13 million fund six months after its first fund. The second fund — the Overline Opportunity Fund II — will target $1 million investments for “breakout companies.” Those companies may be from Overline’s portfolio or others across the region. The first fund targeted pre-seed and seed startups with check sizes starting at $250,000. Overline closed the $27 million Overline Seed Fund I in March. Read more.
Emory’s new seed fund
Emory University’s Peachtree Minority Venture Fund aims to give students investor experience while helping underrepresented entrepreneurs with their biggest hurdle — access to capital. Emory University is the sole investor in the Peachtree Minority Venture Fund. The goal for students is to invest $100,000 of the fund per year, including in follow-on investments or first-time checks for entrepreneurs. The fund is industry agnostic and not focused on Atlanta. Read more.
Acquisitions
Randstad acquisition
Human resources firm Randstad USA, headquartered in Atlanta, acquired Cella, a local staffing firm for creative, marketing and digital teams. Cella will become a business under the Randstad US Technologies Group, which includes verticals such as engineering and life sciences. Randstad US Technologies Group CEO Graig Paglieri says "creative, digital and marketing roles are continuously aligning closer to IT roles." Cella's leadership team will continue to oversee the company.
Popmenu buys Atlanta startup
Popmenu, an Atlanta restaurant technology startup with $87 million in investments, bought OrderNerd, an early-stage startup that just completed the Techstars Atlanta accelerator. Popmenu, founded in 2016, aims to be a suite of tech products for restaurants to help with customer interactions, including digitized menus, food reviews and ratings and social media templates. OrderNerd consolidates all food delivery services and corresponding sales data, such as Uber Eats and DoorDash, into one platform for restaurants to manage. That technology will integrate into Popmenu's platform to provide those capabilities to Popmenu's 6,000 clients.
Sunday continues growth with acquisition
Sunday, the explosive local restaurant QR code startup that raised $100 million in five months since its launch, bought a Montreal-based startup to continue its growth. CHK PLZ is a contactless payment solution in more than 300 restaurants in Quebec. The startup expanded its offerings during the pandemic to include QR payments, online ordering and delivery and at-table ordering. CHK PLZ CEO Robert Casoli will become the general manager of Sunday's Canada team, based in Montreal.
