Austin startups have already had a busy month of fundraising. Below are five new investment rounds so far in February, totaling almost $253 million.
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Austin-based business management software startup Teamfront said Feb. 7 that it has landed a growth investment from Mainsail Partners, which has offices in Austin. Terms of the deal weren't disclosed, but Fortune reported that Mainsail acquired a majority stake in the business.
Teamfront has already acquired four other companies since it was founded last year by CEO Cameron Darby, in collaboration with Mainsail Partners. The company's software manages back-office operations, including payments, customer communication and marketing. It appears the new investment may fuel additional acquisitions, as well as its expansion across new business verticals.
The company previously acquired Arborgold (business management software for the tree care and arbor industry), ServiceMonster (business management software for the carpet cleaning and window washing industries), Fieldster (business management software for the pest control industry) and Accrisoft (Teamfront’s modern digital marketing product offering).
Austin startup Perigon, which uses artificial intelligence to provide context and insights from news and other web data, said Feb. 8 that it raised $5 million in seed funding. The round was led by Austin-based LiveOak Ventures. The startup was founded by Joshua Dziabiak, who co-founded insurance comparison startup The Zebra, and Josh Rickel, a former partner at Austin-based Notley.
The company, which is on Austin Inno's new 2024 Startups to Watch list, was founded in 2022. Its platform uses AI to analyze data from 130,000 sources and uses that to provide unique insights across a variety of subject matters, including people, companies and news topics.
The startup is working with 70 customers, including government entities and other startups.
"Imagine a world where AI is as informed and evolving as the internet it learns from," Rickel stated. "Perigon is more than a platform; it's a crucial tool for those shaping the next frontier of instant AI decision-making."
Austin fintech startup Closinglock, which helps real estate professionals with secure transactions, said Feb. 9 that it closed on a $12 million series A funding round.
The new investment was led by San Francisco-based venture firm Headline. Other backers included Austin's LiveOak Ventures, as well as RWT Horizons and GTMfund.
The startup's platform helps prevent fraud that can occur during wire exchanges of earnest money and cash-to-close payments. Its software is used by more than 400 title companies and law firms, the company said in a news release. The new funding will help it with product development.
“When we first met with Closinglock, we were immediately impressed with their dedication to solving the increasingly complex problems in real estate — spanning fraud, trustworthy payments and software,” King Goh, partner at Headline, stated. “Complemented by their industry expertise, technology and product depth, we knew right away that Closinglock was up to this challenge."
Closinglock, led by CEO Andy White, launched its first product in 2018. In 2022, it landed a $4 million seed round led by LiveOak Ventures. It was one of Austin Inno's Startups to Watch in 2023.
Austin startup Subscribili, led by CEO Sudha Vetri, said Feb. 7 that it raised $4.3M in seed funding to expand its reach with dental care providers. The investment round was led by Darby Group Companies, a New York-based investment firm focused on the dental industry. Other investors included Vyne Dental, Pinterest and Coinbase board member Gokul Rajaram and Support Logic founder Krishna Raj Raja.
The startup's platform helps dental and health providers create personalized subscription plans that can trim costs for patients and help generate recurring revenue for practices. Prior to founding Subscribili, Vetri was a VP of product strategy with Membersy and a senior manager of digital communications at Charles Schwab. Earlier in her career, she was a business analyst with McKinsey & Company and an assistant director of product management at Moody's Analytics.
Along with the funding news, Subscribili announced a partnership with Vyne Dental to launch Vyne Dental Plans.
NinjaOne, an endpoint management startup that moved its headquarters to Austin a few years ago, raised a $231.5 million investment to help fuel its growth — a massive amount that's among the largest funding rounds ever raised by an Austin-based company.
The series C round was led by Iconiq Growth, the tech investment arm of San Francisco-based Iconiq Capital. The new minority investment valued the company at $1.9 billion. Other investors in the round include Frank Slootman, chairman and CEO of Snowflake, and Amit Agarwal, president of Datadog. As part of the deal, Iconiq Growth General Partner Roy Luo has joined NinjaOne’s board of directors.
NinjaOne, formerly known as NinjaRMM, was founded by CEO Sal Sferlazza and CFO Chris Matarese in San Francisco in 2013. It raised a $30 million funding round in 2020 led by Boston-based investment firm Summit Partners. In 2021, Sferlazza and several other executives quietly moved to Austin and later announced the company had relocated its corporate headquarters to the city.
