Weekly Roundup: 4 Austin Startups to Watch
Want to stay up to date on the latest startup fundings, launches, and expansions in Austin? Startup Over Coffee’s weekly roundup of startups to watch in Austin will keep you in...
Want to stay up to date on the latest startup fundings, launches, and expansions in Austin? Startup Over Coffee’s weekly roundup of startups to watch in Austin will keep you in the loop on the latest Austin tech news.
Living Security, an Austin based cyber security startup, announced a $14 million Series B funding led by Updata Partners. Other participating VCs include Silverton Partners, Active Capital, Rain Capital and SaaS Venture Partners. Living Security has raised a total of $20.3 million in funding since its founding in 2017 by husband and wife team, Drew and Ashley Rose.
According to Techcrunch, the cyber security startup plans to use the fresh funding to continue expansion beyond cyber security into human risk management. Furthermore, Living Security plans to expand their geographic reach as well as scale their efforts, both direct and channel. Currently, Living Security works with over 100 large enterprises including industry giants such as CVS Health, Mastercard, Verizon, JP Morgan and Target. Living Security trains these companies and their employees on how to protect sensitive data and secure their companies in a more effective way.
OnlineMedEd, a digital learning platform, has raised more than $25 million. According to Austin Inno, the funding announcement comes from a U.S. Securities and Exchange Commission funding filing, and comes less than nine months after a $5 million funding round. 26 investors contributed to the capital raise and it is not yet clear how OnlineMedEd plans to allocate the new capital raise.
Founded in 2014, OnlineMedEd is an Austin based startup that seeks to give medical students the resources they need to succeed in their studies. OnlineMedEd offers resources like tutorial videos, notes and clinical case studies. The last user headcount in July reported OnlineMedEd shelters over 350,000 monthly active users. The user number is a significant increase since the reported 200,000 in January 2020.
Houston based software as a service company, High Radius, raised $300 million in a Series C funding round. The capital raise was led by D1 Capital Partners and Tiger Global Management followed by ICONIQ Growth and Susquehanna Growth Equity. Outside of VC companies, four high profile entrepreneurs contributed to the capital raise: chairman and CEO of Snowflake Frank Slootman, CFO of Snowflake Michael Scarpelli, CEO of Carpinteria Tooey Courtemanche, and founder and CEO of Airtable Howie Liu.
According to Houston Innovation Map, High Radius plans to use the fresh funding to fuel product development and expand its global reach. The Houston unicorn serves over 600 clients with their AI-powered SaaS platform. Essentially the program filters through documents such as emails and invoices to automatically match customers accounts with incoming payments, effectively streamlining accounts-receivable and cash-management processes.
Another tech startup chooses Austin as their new home. After much consideration, Portland based City Shoppe has decided to relocate their eight person company to Austin and hire 15 new Austin based employees. City Shoppe is a self funded e-commerce platform that partners with small, local businesses to make it easier for consumers to shop locally, regardless of their location.
As of now, consumers can online shop in three cities: Portland, Austin, and Brooklyn. According to Austin Inno, the e-commerce startup offers customer service, marketing, payment processing and a web page on its platform for each small business. After the first month, City Shoppe charges the local businesses a 10% transaction fee. Online shoppers have the ability to filter through the small business brands in order to find female owned, black owned, LGBTQ owned, eco friendly brands.
About Savannah Burns: Savannah is a Business Development Associate for Swyft, which is a tech PR firm in Austin and Houston and a top digital marketing and PR agency in Denver since its founding in 2011. Swyft recently opened a satellite office where it offers tech PR in San Francisco. Swyft was also listed as one of the top tech PR agencies in Texas by the B2B services review site, Clutch.co.