Tech roundup: Cosential raises $34M, Student Loan Hero acquired for $60M, and more

by Kelly O'Halloran
July 19, 2018
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Cosential raises $34M from single investor

Cosential, a 19-year-old construction software firm, raised its first major round of funding last week to the tune of $34 million. Led by sole investor JMI Equity, this funding will be used to boost market adoption, and improve product and business infrastructure. [Built In Austin]


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Swivel secures $4.7M

Swivel, a new Austin startup innovating in the workspace-as-a-service space, recently raised over $4.7 million from 10 undisclosed investors. The company, led by Scott Harmon, Mike Maples and Mike Maples, Jr, develops tailored plug-and -play workspaces for fast-growing startups based on user design and personalization demands. Swivel has not issued a statement regarding July’s funding. [FormDs]


student loan here
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Student Loan Hero acquired for $60M

LendingTree, a public fintech company based in Charlotte, NC announced last week that it will be acquiring Austin startup Student Loan Hero for $60 million. Student Loan Hero was launched in 2012 by founder and CEO Andy Josuweit and provides online tools to help student loan holders manage their debts. The deal is expected to close in the third quarter of this year. [Press Release]


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Promapp announces new Austin office

Promapp Solutions, a New Zealand-based tech firm offering business process management tools, opened its second U.S. office with a new location in Austin. With seven local employees already, the company has plans to continue to add personnel across its sales and marketing teams to support its U.S. market adoption strategies. [Press Release]


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YouEarnedIt acquires Chicago-based HighGround

HR tech platform YouEarnedIt announced on Thursday that it has acquired HighGround, a Chicago-based performance management platform launched in 2012. The companies will continue to operate independently, with plans to integrate the solutions in the near future. Details of the deal were not disclosed. [Press Release]


pi top austin
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Edtech company pi-top raises funding, plans to expand local team

London-based pi-top, an edtech company specializing in computer science and STEAM online curricula, raised $16 million from investors late last week. A spokesperson from pi-top said the influx in capital will allow the company to continue to expand its Austin office, which houses members of its sales and customer support teams. [Press Release]


briggo coffee robot
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Briggo installs coffee robot in Austin airport

On July 17, Austin-based Briggo opened a robotic Coffee Haus location at the Austin-Bergstrom International Airport outside of Gate 8. This marks the world’s first installation of an app-based, robotic, specialty coffee bar in an airport. It also marks Briggo’s sixth Austin location. Following the airport opening, Briggo plans to launch a network of Coffee Hauses in universities, airports, hospitals, office buildings, malls and hotels across Texas with plans to expand outside of Texas in the near future. [Press Release]


futures command
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Army names Austin home to its Futures Command innovation hub

The U.S. Army announced on Friday that it has selected Austin to headquarter its Futures Command operation. Austin was chosen for its technical talent and its reputation as a top city to live in from a finalist group of cities that included Boston, Minneapolis, Philadelphia and Raleigh. The hub will employ up to 500 personnel, consisting of a mix of uniformed and civilian roles that will focus on warfare technology innovation. [Built In Austin]


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OnRamp acquired by LightEdge

LightEdge, an IT services provider, shared on Tuesday that it will acquire Austin-based OnRamp, which delivers hybrid cloud hosting solutions. The move will allow LightEdge to meet the growing demand for cloud-based compliant infrastructure that meets audit standards while protecting important data. [Press Release]

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