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One of Austin's largest co-working spaces and incubators, Capital Factory, has raised $2.7 million of a planned $9 million financing according to a filing with the U.S. Securities and Exchange Commission.
Calling itself “Austin’s entrepreneurial center of gravity,” Capital Factory's new funding came from 34 investors.
Focused on helping tech startups get profitable with less than $1 million in funding apiece, its more notable members include Pingboard, Instacart and HomeAway. It’s responsible for 308 companies and 620 members, and its executive director, Joshua Baer, was named the 2013 Austin Community Leader of the Year by the Entrepreneurs Foundation of Central Texas for “his contributions to Austin’s entrepreneurial ecosystem.”
Baer formed the incubator/accelerator hybrid and coworking space in 2009 and since then it’s built a roster of well over 100 affiliated mentors.
As Capital Factory closes in on the second half of its first decade, it is entering into progressive partnerships, such as the one it announced in May with Google for Entrepreneurs, connecting Austin’s entrepreneurs to the global Google Tech Hub Network and offering other perks as well.
