The Austin tech sector is experiencing plenty of growth so far this spring with companies raising VC, making acquisitions and other moves. Read on for the latest developments. This is the Built In Austin weekly refresh.
Canva raised $71M. With its easy-to-use digital design software, Sydney-based Canva has seen remarkable growth over the past year. Dragoneer and T. Rowe Price led the latest funding round for the graphic design company, and Canva plans to invest in adding new features to its enterprise tool, Presentations. It’s also hiring for about 40 roles based out of its Austin office. [Built In Austin]
Markaaz relocated to Austin. The company announced its move to the Foundry I building at 310 Comal St. from its former HQ location in LA. Its AI-based software connects SMBs to clients and services. Markaaz is looking to bring more jobs to the city’s growing tech scene as it plans to onboard 70 people by the end of this year, and reach a headcount of 150 by the end of 2022. [Austin Inno]
Austin Tech Quote of the Week
OnlineMedEd got $20M. With its educational video content and resources for med students, the startup is aiming to put its first round of growth funding toward creating more region-relevant material for its international users. OnlineMedEd is also planning to open up more offices around the world. Lumos Capital Group led the round. [Built In Austin]
EPAM acquired PolSource. Software engineering company EPAM announced its acquisition of Austin-based PolSource, a consulting partner of Salesforce. The move allows EPAM to build integrated consulting and engineering teams at a larger scale and expedite time-to-market for enterprises undergoing Salesforce-fueled digital transformation. [EPAM]
Restore Hyper Wellness hired a new CFO. Joining the proactive wellness company’s executive team is Trent York, former CFO of Vrbo. Restore uses treatments like cryotherapy and IV drip therapy to help its guests recover from injuries, address chronic pain and more. York will serve as the chief financial officer responsible for leading Restor’s finance, accounting and human resources teams. [Business Wire]