Money talks: For the first time in 2017, Austin tech raises over $100M

by Kelly O'Halloran
June 30, 2017

Funding increased in June by more than $25 million compared to May’s numbers. This month, Austin tech companies collectively raised over $102 million, spread across 17 rounds from industries that include IoT, fintech, healthtech and artificial intelligence. The last time Austin tech raised north of $100 million was June 2016 led by Spredfast’s $50 million round. Take a look who led this year’s big summer month of money.


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5. Dosh, $5.1M, June 15

Investors: Goodwater Capital, Brett Hurt and more

Bio: Dosh’s app automatically searches and applies cash savings opportunities for consumers. When users spend money via debit or credit card at participating merchants (which is over 100,000) the app applies money back.

In the news: Ryan Wuerch, Dosh’s CEO, said the company will continue to add merchants from retail, restaurant and travel industries, improve user experience and increase employee headcount.


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4. Digital Pharmacist, $6.5M, June 6

Investors: LiveOak Venture Partners, Activate Venture Partners

Bio: Digital Pharmacist provides mobile, online and communication solutions for independent pharmacies. To date, they support 6,000 pharmacies serving four million patients.

In the news: This month’s funding will be used to develop new products and accelerate market adoption. The last time they raised funding — a $5.7M Series A in 2015 — the company expanded product offerings and employee headcount.


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3. CongitiveScale, $15M, June 13

Investors: Norwest Venture Partners, Intel Capital, Microsoft Ventures, The Westly Group and USAA

Bio: Supporting banks, insurance companies, healthcare and more, CognitiveScale’s AI solutions are tailored to the industries they serve. Its technology learns over time — just like humans. However, unlike humans, CognitiveScale’s machine learning algorithms can detect hidden data, make sense of it then offer insights to lower risk.

In the news: The funding will allow the team to further develop their existing platforms ENGAGE and AMPLIFY and integrate with MSFT Azure.



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2. Ambiq Micro, $23M, June 16

Investors: 33 undisclosed investors

Bio: Founded in 2010, Ambiq Micro designs technology that lowers the amount of power needed to fuel semiconductors. Its patented technology, Subthreshold Power Optimized Technology (SPOT), can save up to 13 times less power for wearable technology, smart cards and IoT.

In the news: This round marks $23 million closed of a planned $35 million. Since launch, the company has raised almost $50 million.


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1. SparkCognition, $32.5M, June 26

Investors: Verizon Ventures, Boeing HorizonX

Bio: SparkCognition launched in 2014 with technology that predicts machine failure, detects cyber threats and reads and interprets dark data. Its technologies have spread into industries including maritime, aerospace, manufacturing, energy and national security.

In the news: This funding marks the largest in Austin tech for 2017. The company intends to use the funding to scale rapidly in order to meet market and customer demand.


Images provided by company websites.

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