Weekly Roundups: 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 Austin startups to watch will keep you in the...
Want to stay up to date on the latest startup fundings, launches, and expansions in Austin? Startup Over Coffee’s weekly roundup of Austin startups to watch will keep you in the loop on the latest Austin tech news. Catch up on previous weekly roundups here.
LiveOak Venture Partners recently raised $210 million in venture capital funding, making this the largest early-stage fund focused on Texas technology startups in a decade, according to Austin Inno. Co-founders Venu Shamapant and Krishna Srinivasan explain that 40 percent of its funding came from new investors. LiveOak has had two previous capital fundings, both raising $105 million. Its remarkable leap to $210 million excites the company for many reasons. The venture capital firm plans on using its new funding to assist other early-stage startups around Texas.
Although LiveOak has a significant influence on Austin startups, the venture capital firm is looking forward to focusing on other cities around Texas. Shamapant shares that the company is looking at startups in Houston and San Antonio and has already landed deals in Houston.
According to Built in Austin, Steadily, an online insurance agency, raised a $27.8 million Series A funding round. The round was led by Matrix Partners and Zigg Capital, with contributions from Vesta Ventures, Peak State Ventures, Nine Four Ventures, and Next Coast Ventures. Additionally, Steadily raised $3.8 million earlier this year, making its total funding $31.6 million. With its new funding, this company plans on expanding and improving its products.
Founded in 2020, Steadily offers landlord insurance throughout all 50 states. Whether you’re looking to rent or buy a duplex or multifamily condo, Steadily provides quick insurance quotes online within a matter of minutes. The company’s office location, where it houses its product and engineering departments, has seven employees currently working there. Over the next year, Steadily plans on hiring 25 additional employees.
For the company’s plans, Steadily hopes to manage and prevent residential water damages through internet-enabled devices. Waiting too long to fix water damage can become very costly, so Steadily is working hard on improving user experience through intuitively designed insurance.
Launched in 2017, Ontic uses its dynamic, cloud-based solution protective intelligence platform to help security teams protect their customers, employees, and assets. In addition to minimizing possible security threats, Ontic’s goal is to simplify platforms and reduce the complexity of potential threats. CEO Lukas Quanstrom explains to Built in Austin that companies use Ontic’s platform to protect people, facilities, and assets in corporate settings.
Ontic announced raising a $40 million Series B funding round, making its total funding $58 million. Additionally, the company raised a $12 million Series A funding round back in April of 2020. Ontic currently has 53 employees based in Austin and plans to increase its total employee headcount within the following year. According to Built in Austin, the new funding will allow the company to expand into new markets, accelerate product development, and establish new partnerships.
After struggling to find ways to raise money for his company, Allen Tsai took on a different approach to funding. Announced in Austin Inno, Pani Systems recently raised a $2.3 million seed funding round. Instead of raising tech money from tech VCs, Tsai changed his strategy and started positioned deals as a tech-enabled CPG, opening up more doors in the angel community.
Pani Systems’ mission is to provide people with clean, safe water by using a countertop smart device that filters and adds flavors and vitamins to tap water. The company is based in Austin and currently has five employees. Its new funding money will assist in constructing Pani Source, which is a device that infuses flavor and nutrients, such as melatonin, chamomile, and vitamin B12, into tap water. The goal is to create water that tailors to customers’ needs for whatever part of the day.
About Michelle Vernaza: Michelle is a Business Development Associate Intern 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 also has a small satellite office where it offers tech PR in San Francisco. Swyft has been listed as one of the top tech PR agencies in Texas for two years running by the B2B services review site, Clutch.co.