Get details below on recent funding deals: In the past week, three Austin-area companies reported a combined total of about $74.5 million in funding deals.
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• QuotaPath Inc. said April 26 it secured $41 million in series B funding — less than a year after raising $21.3 million in a series A round. Co-headquartered in Philadelphia and Austin, the startup offers software that tracks performance and calculates commissions for sales teams. Its total funding is roughly $70 million.
QuotaPath has grown rapidly since its 2020 launch. Revenue is up 480% year over year as of March, the company said, and paid users have increased 335% in the past eight months. The latest funding round was led by San Francisco-based Tribe Capital. Existing investors Insight Partners, ATX Venture Partners, Stage 2 Capital and Integr8d Capital also participated. QuotaPath CEO AJ Bruno told the Business Journal in September that he was already being approached by investors about a series B round just months after closing the series A last summer.
• Clerk Inc., an Austin-based retail-technology company, said April 29 it raised $30 million in series B funding.
The round was led by Connecticut-based investment firm Sageview Capital. Clerk will use the money to accelerate development of its software platform, which helps grocery stores and the companies that sell through them better manage product.
Clerk, formerly known as Popspots, was co-founded in 2016 by CEO Marlow Nickell, Don Oelke and Edward Cates. It raised a $5 million series A round in late 2019, led by Silverton Partners, which fueled the company’s growth to a 350% increase in network size.
• Rooftop solar energy storage startup Yotta Energy Inc. said April 26 it raised an additional $3.5 million for its series A funding round. Overall, the series A is now at $16.5 million. The new investment comes from APsystems, an original equipment manufacturer partner. Meanwhile, the Department of Defense’s Environmental Security Technology Certification Program awarded the startup $1.9 million for a new solar storage microgrid deal at Nellis Air Force Base in Las Vegas. The new money follows a $13 million raise last year led by WIND Ventures.
APsystems and Yotta have worked together before on a partnership to build APsystems' dual power inverter, as well as a micro-inverter project. Yotta, led by co-founder and CEO Omeed Badkoobeh, was founded in 2017. The company was one of Austin Inno's 21 Startups to Watch in 2021. It was also part of Plug and Play's 2020 energy program.
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.
