New Austin-based VC firm launches with $125M fund
Austin tech veterans Mike Erwin and whurley have partnered for Ecliptic Capital, a new VC firm with a $125 million fund to invest in the local tech scene. Erwin and whurley have individually already invested in five startups that they plan to roll into Ecpliptic’s first fund. The firm will invest seed rounds into startups that have identified a product and customers. [Crunchbase]
Digital Pharmacist scooped up for $125M from LA-based equity firm
Los Angeles-based K1 Investment Management has acquired Austin-based Digital Pharmacist for $125 million. As part of the deal, the private equity firm is investing $100 million to help Digital Pharmacist accelerate growth and product development of its online prescription refill and marketing platform. [socaltech]
MAP raises $25M to offer post-treatment support for people battling addiction
MAP Health Management, a startup launched in 2011 that provides video conferencing support for people recovering from addiction, raised $25 million in funding last week. Aetna, part of CVS Health’s family of brands, led the funding round, which will be used for expanding operations and to enter partnerships with emergency care locations, primary care providers and pharmacies. [Built In Austin]
Tecovas opens first retail store ever on South Congress
Last Friday, Austin-based boots retailer and Western brand Tecovas soft opened its first-ever retail store at 1333 South Congress Ave. The official grand opening will be this Friday. Tecovas launched in 2015 and has exclusively offered its products online until now. [Press Release]
Springbox acquired by Chicago-based consulting firm
Prophet, a brand strategy consulting firm out of Chicago, acquired Austin-based Springbox last week. Springbox began in 2004 and offers e-commerce, web automation, analytics and marketing solutions. The company will operate under the name Springbox, a Prophet company, and Springbox CEO John Ellett will continue to lead the Austin team. [Press Release]
London-based Adthena raises $14M, will expand Austin office
Adthena, the London-based startup behind an AI-powered search marketing platform, secured a $14 million Series A this week that will be used to grow its U.S. market. The company announced Austin as its U.S. headquarters a year ago and will continue to hire locally with the new capital. CEO Ian O’Rourke said in a statement, “This is a very exciting time for Adthena, particularly and especially the growth of our Austin office, as we embark on the next part of our journey.” [Press Release]
Austin-based Newchip announces online startup accelerator program
Newchip, a fintech startup that connects investors of all experience levels to business and real estate investments, has unveiled a 13-week-long online accelerator program for entrepreneurs. The program features startup training, mentoring and a curriculum that prepares students for pitching to investors. The first cohort will being April 1. [Press Release]
