Umbel raises $8M
Umbel announced it has raised a $8 million Series B led by Cielo Private Equity. The Austin-based company is targeting an additional $12 million with this round. [Built In Austin]
Former Austin Ventures partners raise $309M for new fund
Philip Siegel and David Lack left their partner positions at the well-known venture fund in 2013 to found Tritium Partners. The new private equity fund will specialize in buying out established companies nationwide. Siegel and Lack led Austin Ventures’ investment in HomeAway, which recently agreed to be acquired by Expedia for $3.9 billion. [Austin American-Statesman]
Upland Software acquires Ultriva for $4.9M
The deal is Upland Software’s ninth acquisition in four years. The company paid $4.9 million in cash and 225,000 of its common shares, plus other considerations. Cupertino, CA-based Ultriva offers supply chain solutions through collaborative portals that streamline processes across suppliers, factories and customers. [Austin Business Journal]
Austin named best city to launch a startup
Austin Technology Council’s president Julie Huls credited the city’s “exceptionally open and collaborative and supportive business climate” and diverse population of business leaders with the accolade. [Small Business Trends via Patch.com]
Q2 to be featured on Discovery Channel
Q2 has announced it will be featured on the show Innovations, hosted by Ed Begley, Jr., on Monday, Nov. 30 at 6:30 a.m. Central. According to the show’s website, the show features products, services and technology that “provide innovative solutions to demands in your industry,” among other criteria. [Press release]
Pingboard answers demand for org chart feature
Co-founder and CEO Bill Boebel said the ability to create organizational charts was the number one feature requested by Pingboard’s 120 SMB clients, who use the software to manage human resources functions for some 30,000 employees. Pingboard has 11 employees and has raised $2.5 in venture capital. [Silicon Hills News]
