Austin’s 5 Largest Tech Funding Rounds Totaled $866M in May

June 1, 2021
atx
photo: shutterstock

Venture funding on the Austin tech scene increased substantially over its previous total in April. These companies pulled in the highest sums last month to invest in tech for space travel, home-buying and more. Read on to discover which ATX companies raised the most funding and how they’re spending it.

 

#5. $50 million, May 19

Helping healthcare companies provide virtual services for patients, Wheel recorded 300 percent growth over last year and is striving for more success with the cash from its Series B raise. Lightspeed Ventures led the round that enables the company to expand its clinician network, training resources and team across departments including engineering, product, operations and sales.

 

#4. $70 million, May 12

With the cash from its Series C funding round, Mythic is ramping up production of its tech solutions that help companies use AI for purposes like video surveillance, smart homes or virtual reality at a lower cost. Investors including BlackRock and Hewlett Packard Enterprise participated in the round. Mythic is also planning to onboard new team members across several open tech positions.

 

#3. $75 million, May 4

The massive Series A round for Firefly catapulted the aerospace company into unicorn status. The Cedar Park-based company also gained $100 million in secondary funding, and it’s aiming to secure even more down the line. DADA Holdings led Firefly’s Series A as the spacecraft developer is gearing up for the inaugural launch of its rocket, Alpha, sometime this month. It’s also looking to hire engineering talent as it works toward this goal.

 

#2. $300 million, May 20

As a matchmaker for skilled workers and companies looking to employ them, Workrise secured a $300 million Series E to combat the country’s continuous skilled labor shortage. The company, previously known as RigUp, is making moves to expand its headquarters and hoping to build out its team across a number of departments including data, analytics, operations, design, finance and engineering. The Baillie Gifford-led funding enables Workrise to expand into new markets.

 

#1. $371 million, May 27

Finance company Homeward pulled in its latest round of funding to invest in its platform that helps homebuyers put a cash offer down on a home. The raise consisted of $136 million in equity and $235 million in debt financing. Now with the fresh injection of capital, Homeward is planning to scale and expand into additional markets as well as onboard new talent across its engineering, finance, product and marketing teams.

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