Tech roundup: Austin's big funding week, Favor acquired by H-E-B, and more

by Kelly O'Halloran
February 22, 2018
sparkcognition austin
photo via twitter

SparkCognition closes out Series B at $54.5M

SparkCognition raised $32.5 million last June in one of the largest Series B rounds of 2017 for Austin tech. The round wasn’t technically closed, however, until this week, when the machine learning company raised another $24 million from additional investors. The funding will be used to continue SparkCognition’s hiring plans and entry into new industry verticals. [Built In Austin]


shep startup
photo via facebook

Complai raises $1.4M

Austin startup Complai, makers of the travel platform Shep, raised a $1.4 million seed round led by Moonshots Capital with participation from the Capital Factory. The company will use the funding toward market delivery, onboarding, product and hiring. As part of the deal, Moonshots Capital’s co-founder and general partner Craig Cummings will join Complai’s board. [Press Release]


photo via facebook

H-E-B acquires Favor

Texas-based grocery chain H-E-B announced last Thursday that it has acquired on-demand delivery startup Favor. The partnership will help H-E-B remain competitive in a space that has seen a major pivot toward online ordering and door-side deliveries. Favor will continue to operate independently under the leadership of current president and CEO Jag Bath, and all employees will be retained. Financial terms of the deal were not disclosed. [TechCrunch]


photo via twitter

Akron-based startup raises $50M from local firm with plans to grow Austin team

RVShare, a startup founded in Ohio that offers peer-to-peer RV rentals, secured $50 million in funding from Austin VC Tritium Partners. The company, led by CEO Jon Gray, a former HomeAway executive, will use the funding toward product, marketing and leadership hires. Austin Business Journal reported RVShare will add about 10 hires in marketing and product development at its Austin office. [Press Release]


photo via facebook

ACC to open high-tech fashion incubator

With plans to offer fashion-industry associate degrees, Austin Community College is opening a new incubator focused on fashion. Gerber Technology has pledged to provide state-of-the-art garment making equipment, software, training and support totaling $13 million. Nina Means signed on in early February as the program director. Means joins ACC from The Art Institute of Austin, where she taught as an adjunct professor. An official launch date has not been released. [Austin Business Journal]


photo via facebook

Dallas analytics firm merges with Umbel

MVPindex, a Dallas-based social media analytics platform, announced on Friday its plans to merge with Austin-based Umbel. Details of the merger, which is set to close at the end of February, were not disclosed. Operations will remain in Austin out of Umbel’s downtown Austin headquarters with offices in Dallas. MVPindex’s Stan Woodward and Shawn Spieth will lead as CEO and president, respectively, of the combined company, and Umbel CEO Lisa Pearson will step down. [Dallas Business Journal]

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