Last month, Austin tech raised more than $120 million. At the time, that seemed like quite a chunk of change — but August’s $154 million funding total puts those numbers to shame.
In total, 18 companies raised funds, with an average funding amount of $8.6 million. Below, we’ve rounded up the details on the top four rounds.
4. Factom, $6M, August 6
Investors: FastForward Innovations
Bio: Founded in 2014, Factom provides blockchain-as-a-service to a variety of enterprise clients. Its tools help companies transition to cutting-edge blockchain tech.
News: According to press on the funding, Factom will be using this latest investment to scale its product’s capabilities, in addition to adding new members to its sales and marketing teams.
3. Infinite.io, $10.3M, August 30
Investors: Chris Galvin (leader), Chicago Ventures, PV Ventures, Equus Holdings, Dougherty & Company, John Anderson, Bill Miller, Dean Drako and Brett Hurt
Bio: Since its 2012 founding, Infinite.io has been working to develop innovative data storage solutions that blend cloud and traditional server technology.
News: According to CEO Mark Cree, Infinite.io will use the funding to drive growth in engineering, sales and marketing.
2. New Knowledge, $11M, August 28
Investors: GGV Capital, Lux Capital
Bio: New Knowledge, founded in 2015, is a cybersecurity company whose mission is to help halt disinformation campaigns in their tracks.
News: According to a press release, New Knowledge plans to use the funding round to expand its sales and marketing divisions, allowing the company to grow into new markets.
1. Consero, $50M, August 21
Investors: BV Investment Partners
Bio: Consero, founded in 2006, helps small and mid-sized businesses run their finances with a suite of cloud-based bookkeeping tools.
News: CEO and co-founder Scott Tynes told Built In Austin that “Consero’s goal remains unchanged — to extend [its] leadership position and value proposition in the finance-as-a-service space.” With the new funding, accelerating growth will be a goal at the forefront.
