The end of the year can be a relatively slow time for startup funding deals. But that doesn't mean all was quiet on the funding front. At least three Austin area startups reported raising millions in late December, accounting for roughly $17 million in new venture backing.
Let's take a quick look back as we race into 2023.
Want daily updates on fundings, hires and other news of interest to the startup community? Subscribe to Austin Inno's Beat newsletter.
A new fintech startup emerged with $6.8 million in new money. Grazzy Inc. on Dec. 19 reported raising the new equity funding in an SEC filing. The company is led by CEO Russell Lemmer, who is president and founder of Austin-based fleet management software maker Dealerware. Prior to that, Lemmer was VP of strategy and mobility at Austin-based Silvercar. The SEC filing also notes that Tom Ball, co-founder and managing director at Next Coast Ventures, is a board member. Grazzy is a payments platform for hourly employees that allows digital tipping, instant tip-outs and other banking services.
Austin startup SiteOwl Inc. on Dec. 27 reported raising $4 million in equity funding from four investors. The startup has developed a physical security system platform that helps businesses, schools and other facilities centrally manage all security asset information. It's led by founder and CEO Joseph Ndesandjo. He was previously founder and chairman of San Antonio-based security company 3Sixty Integrated, and SiteOwl was incubated at 3Sixty.
The SEC filing also notes that David Panos and Michael Smerklo are on the company's board. Panos is a managing director at Austin boutique tech consulting firm Epistrata. He also founded Pluck Corporation, which was acquired by Demand Media, and was a venture partner at Austin Ventures. Smerklo is co-founder and managing director of Austin VC firm Next Coast Ventures.
Interactive video platform Grabit Interactive Media Inc., which operates as KERV Interactive, on Dec. 27 reported raising $6.5 million in new equity funding. KERV, led by CEO Gary Mittman, in May raised $12 million in new funding from Trinity Capital Inc., Plaza Ventures and Vestech Partners. That brought the startup's total funding raised to $30 million. The startup uses machine learning and AI to analyze video and develop interactive consumer experiences. This new round notes that it is an offering of series A2 preferred stock. Earlier this year, the company announced its AI and machine learning tech would be integrated with TikTok to streamline and automate the creation of TikTok ads.
For more local deals, check out another recent funding wrap. And subscribe to Austin Business Journal for startup resources such as lists of venture capital and private equity firms, incubators and accelerators, angel investors and coworking providers.
