Austin startups raised over $154M in January. Here are the top 5 rounds

by Kelly O'Halloran
February 1, 2017
Funding in the Austin tech and startup scene was intermittent throughout the course of January. A couple of key deals, including a $100 million debt financing round for a local lending fintech startup, led to more than $154 million raised in the first month of 2017. This follows December's $61 million collectively raised by local tech companies. Here are the top five rounds. 
 
 

5. Querium, $3.2M, Jan. 17

Investors: Wild Basin Investment, Ingram Content Group, CrossFire Holdings, and Sustain VC

Bio: Querium launched in Austin in 2013 and offers an online learning curriculum geared toward STEM skills. Using artificial intelligence, their content provides virtual instruction, practice and tutoring in science and math. The startup has active users across 37 colleges and 62 school districts.

News: The funding will be used toward Querium's sales and marketing efforts and to continue developing its product, StepWise Virtual Tutor. 

 

4. YouEarnedIt, $6.5M, Jan. 31

Investors: Silverton Partners, IDG Ventures USA, WPP, Social Starts, the Motley Fool and Capital Factory

Bio: By providing a universal platform for employees to engage, offer feedback, nominate peers for awards and offer virtual high fives, YouEarnedIt's HR software has gained a clientele base that includes clients like Anheuser-Busch, NBC Universal, Conde Nast, Whole Foods, and Zuora. 

News: Since launching in 2013, YouEarnedIt's software has racked up over 100,000 users. This funding will be directed at sales and marketing operations and continued product enhancements. 

 
 

3. Hypori, $6.6M, Jan. 17

Investors: 13 undisclosed investors

Bio: Hypori develops flexible Virtual Mobile Infrastructure (VMI) systems to ensure that mobile environments for small- and medium-sized businesses are secure and compliant with enterprise data. This includes a line of Hypori virtual devices that comes with the Hypori software and is controllable by the enterprise client. 

News: No formal announcement has been released regarding the funding news. This recent round brings Hypori's total investor backing to over $20 million since its 2012 launch. 

 

2. Main Street Hub, $27M, Jan. 11

Investors: Silicon Valley Bank 

Bio: Main Street Hub's customers include small and local businesses that need help reaching their customers online. Their marketing platform covers and manages social media, online reviews, web marketing and e-mail. 

News: The extra funds following this debt refinancing will be put toward the company's aggressive hiring plans, which include adding 200 roles between the company's NYC and Austin teams. 

 

1. BorrowersFirst, $100M, Jan. 17

Investors: Waterfall Asset Management

Bio: The 2014 fintech startup provides consumer loans with low fixed rates, affordable monthly payments and a faster process for acquiring loans. 

News: With about 80 local employees, BorrowersFirst's CEO Dave Tomlinson said the company plans to double its employee headcount over the next few years, with a majority of the roles opening up here in Austin. Since launching, the company has secured over $400 million in capital.  

 
Images via featured companies and Shutterstock.

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