With new funding and a company planning to go public, find out how the Austin tech scene is growing and evolving with last week’s developments. This is the Built In Austin weekly refresh.
Austin is the top destination for California tech companies. So far this year, approximately 53 companies have relocated their headquarters from California to Texas, and 11 of them settled down in Austin. With opportunities like lower costs for the companies who move there, Austin is continuing to attract more tech talent and furthering its status as one of the nation’s largest tech hotspots. [Austin Business Journal]
Founder Institute Austin announced its 2021 program graduates. With over 120 applicants, the accelerator’s four-month program for pre-seed startups announced its latest batch of graduates. Six companies completed the program and now have access to Founder Institute’s global network of support programs as they grow their businesses. The graduates include Adulting101, Good Glucose, Gyle, Intuily, Meet Jane and One January. [Founder Institute]
Austin Tech Quote of the Week
Sevco Security got $15M. This company’s cloud-based platform works to help businesses better understand their own data and then use it to protect themselves against security threats. Sevco launched with its Series A funding that was led by SYN Ventures. With it, the startup wants to grow its business and team and is currently hiring for sales and marketing positions. [Built In Austin]
Babson Diagnostics raised $31M. Offering a faster and more convenient solution for diagnostic blood testing, the healthtech company aims to reduce the time and cost of accurate lab work. It just raised a Series B led by Emerald Development Managers and plans to invest the capital in getting regulatory approval, launching commercially and rolling out its product nationwide at pharmacies and retailers. [Built In Austin]
DISCO to file for IPO. The legal tech company is planning to go public with a $100 million offering. Though no date has been announced yet, the company will be findable under the Nasdaq ticker symbol “LAW” once it makes its debut. DISCO’s AI-powered platform provides legal teams with tools for e-discovery, document review, case management and more. [Austin Inno]