Austin tech wraps up 2018 with almost $80M in new capital raised in December

by Kelly O'Halloran
January 3, 2019

Austin tech tapped off 2018 with nearly $80 million in new capital throughout December. Thirteen companies benefited from fresh funding, with the average deal size coming in at just under $6 million. December’s total acts as a strong finish to a year that saw Austin tech raise well over $1 billion in new venture capital. Here are the top five rounds for the final month of 2018.

 

olono ai
photo via shutterstock

5. Olono, $3M, Dec. 14

Investors: Eight undisclosed investors

Bio: Olono’s AI-powered sales assistant gives account executives real-time support to help close deals faster. It’s been referred to as a “GPS for sales.”

News: While the company did not issue a statement regarding the uptick in funding, Olono was recognized by G2 Crowd in December as a “High Performer” in the AI Sales Assistant and Sales Analytics categories.

 

waldo photos
photo via shutterstock

4. Waldo Photos, $4M, Dec. 14

Investor: Lewis & Clark Ventures

Bio: Launched in 2016, Waldo develops facial recognition software that is used to identify event attendees and share any photos they might appear in. Think: weddings, amusement parks, corporate events and anywhere else professional photographers may be employed.

News: The startup will use the funding to expand its engineering and sales teams as it begins to market to schools and youth sports programs.

 

life by spot cliff jumping
photo via shutterstok

3. Life by Spot, $5.6M, Dec. 21

Investor: Silverton Partners

Bio: This new insurance tech startup provides streamlined, on-the-spot, short-term life insurance plans.

News: CEO Matt Randall, the founder of online art gallery TWYLA, and COO Maria Miller, former VP of IT operations for New York Life, co-founded the company in 2017. The funding will be used for product development and marketing.

 

sourceday team
photo provided by sourceday

2. SourceDay, $6.5M, Dec. 5

Investors: Silverton Partners, ATX Seed Ventures, Draper Associates

Bio: SourceDay provides a cloud-based automated purchasing platform to manufacturing clients.

News: The Series A funding will be used to expand SourceDay’s team by about 25 employees through the end of 2019.

 

aceable team
photo provided by aceable

1. Aceable, $47M, Dec. 4

Investor: Sageview Capital

Bio: Founded in 2012, e-learning platform Aceable provides mobile-friendly online curriculum to help students pass their state driving tests. The company also launched its online certification courses for real estate agents within the past year.

News: Aceable founder and CEO Blake Garrett said the Series B will be used to enter new markets and educational verticals.

 

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