Get details below on recent funding deals: In the past week, three companies reported a combined total of about $225 million million in funding secured. These kinds of deals are a useful gauge of a company's evolution, and are sources of leads for real estate pros and other service providers.
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Austin's Restore Hyper Wellness said Dec. 14 that it raised a $140 million round led by New York-based growth equity firm General Atlantic. Restore is known for its cryotherapy offerings, as well as IV drips, red light therapy and intramuscular shots.
Founded in 2015 by CEO Jim Donnelly and Head of Strategy Steve Welch, the company has 115 locations in 34 states, most of which are franchised. Overall, the company has 2,400 employees nationwide. And that's poised to grow fast, as the company says it plans to open a new store every four days, on average.
The company, which operates legally as Austin Cryo Ventures LLC, adopted a franchise model to speed and fund expansion.
An Austin-based company called Royal Markets Inc. on Dec. 13 reported roughly $52 million in funding to the U.S. Securities and Exchange Commission. The equity raise came from 10 investors and was part of a $55 million offering from the company, which is led by CEO Justin Blau, according to the SEC filing. The fresh funds come on the heels of a $14 million equity raise in August, SEC records show.
The filing appears related to the $55 million funding round announced Nov. 22 by Blau's company. The startup does business as Royal and offers non-fungible tokens which allow investors to own the rights to songs — even earning royalties on them, according to Built in ATX. The $55 million series A round was led by Andreessen Horowitz and includes contributions from musicians such as Nas and The Chainsmokers, Built in ATX reported.
Austin-based content collaboration software startup FileCloud said Dec. 14 it had closed a $30 million series A round. The new funding was led by Silicon Valley-based investment firm Savant Growth. Also in on the equity funding was London-based Kennet Partners. The company also added a $10 million growth capital agreement with Avidbank.
But the news didn't end there. Along with the funding, FileCloud said it has hired Ray Downes as its new CEO, replacing Madhan Kanagavel, who founded the startup in 2016 and is now shifting his role to president and chief technology officer.
FileCloud, which is the cornerstone software developed by CodeLathe Technologies Inc., has a platform that helps enterprise teams share files and other data across public and private clouds. It bolsters that with compliance and risk-protection features. The company's clients include governments, utilities and private businesses. as its new CEO, replacing Madhan Kanagavel, who founded the startup in 2016 and is now shifting his role to president and chief technology officer.
