Get details below on recent funding deals: In a little over a week, six companies based in the Austin area reported a combined total of $254.2 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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Icon Technology Inc. has been making waves ever since it revealed its first 3D-printed home at South by Southwest in 2018. Now the startup is back in the headlines with a new $185 million round of funding.
That would be big news on its own, but it's even more interesting given the company landed a $207 million series B only six months ago. TechCrunch had the exclusive on the new funding, and Icon did not immediately respond to questions about the new round.
However, Latham & Watkins, which provided financial advice on the deal, confirmed the $185 million round in an announcement.
The new round was led by Tiger Global Management, TC reported. While the company hasn't disclosed its valuation, an anonymous source told TC Icon's valuation “is now approaching $2 billion.”
Austin supply chain software startup SourceDay Inc. — which has developed a platform to help suppliers, manufacturers and business owners gain better, real-time visibility into the flow of materials — announced Feb. 15 a $31.5M series C venture capital round.
The company was created in 2013 and launched in 2015 by CEO Tom Kieley and Chief Operating Officer Clint McRee. It has now raised a total of nearly $58 million.
Palo Alto-based firm Norwest Venture Partners led the financing alongside earlier investors including Austin's ATX Ventures and Silverton Partners, as well as Baird Capital, Draper Associates and Ring Ventures. Norwest partner Sean Jacobsohn will join SourceDay’s board of directors as part of the deal.
The new money will help SourceDay hire about 40 new employees in Austin and remotely, with an emphasis on product and engineering roles. The startup, which has a flexible workforce and an office in the Arboretum area in North Austin, currently has 88 employees, as well as 20 full-time contractors.
CherryCircle Software Inc., which makes knowledge management software for the pharmaceutical industry, announced Feb. 11 a $15 million series A funding round.
The company, which developed a platform called QbDVision, found a lead investor in Northpond Ventures, a science- and technology-driven VC firm. Follow-on investors included Austin's S3 Ventures, as well as Wanxiang Healthcare Investments and Hudson Park Capital. CherryCircle is led by co-founder and CEO Yash Sabharwal.
Online speech therapy startup Expressable Inc. reported in a Feb. 9 securities filing that it had raised $15 million in new equity funding.
The company, founded in 2020 by CEO Nicholas Barbara and President Leanne Sherred, offers online sessions for children and adults, with a focus on parents and caregivers who can help those trying to improve their speech. It matches families with therapists with specialties across a wide range of speaking issues, from accent modification to reading readiness. The new funding follows a $5.3 million round back in May, according to securities filings.
Austin-based cocktail delivery startup Sourced Craft Cocktails Corp. reported in a Feb. 15 securities filing raising $5.7 million in new equity funding. The company, founded in 2015 by Tim Angelillo, provides pop-up cocktail services for events, virtual happy hours and cocktail kit deliveries. The startup had previous raised about $1.8 million from investors including Austin's Ecliptic Capital.
Last year, Angelillo was named to Forbes' Next 1000 list, which highlights private business owners who have under $10 million in revenue or funding and have a great shot at becoming the next big thing. Last fall, the company launched its "sampling as a service" product, which provides a data-driven approach for off-premise retail and alcohol brands by collecting anonymous data of consumers who samples the drinks.
Cedar Park-based VUV Analytics Inc. reported in a Feb. 14 securities filing raising $2 million in new equity funding. The startup, founded in 2009 and led by CEO Clark Jernigan, has developed hardware that uses vacuums and ultraviolet light to identify chemical compounds for scientific labs, especially those in the oil and gas industry.
The new money is the first equity funding the company has reported since 2017, according to filings. The company's $6.5 million series B in 2016 was led by New Science Ventures, with participation from Austin's S3 Ventures, which had invested in the company since 2014, according to Crunchbase. It has raised a total of $17.8 million, Crunchbase showed.
Get ABJ's latest list of local venture capital firms here, and see the list of angel investors here. A list of local startup incubators can be found here.
