Austin continues to be abuzz with tech activity. Whether it’s the launch of a new pet food, the acquisition of a major cybersecurity company or a funding boost for a local adtech startup, the Built In Austin Weekly Refresh is here to fill you in on the area’s local tech happenings.
CynergisTek to be acquired for $17.7M. The Austin company helps hospitals with cybersecurity, privacy, compliance and IT audits. CynergisTek believes that, by merging with Clearwater Compliance and going private, it will be more agile with greater flexibility to invest in innovation. When the merger is finalized, CynergisTek stockholders will receive $1.25 per share in cash, which is about a 112 percent increase over the company’s closing share price on May 20. [Built In Austin]
KERV Interactive raised $12M. The Austin-based digital advertising platform is built on patented technology that can turn every frame in a digital video into an interactive, “shoppable” experience. KERV CEO Gary Mittman said the company has had a breakout year, as shoppable video has been widely adopted on social channels and streaming television. This fresh capital brings the company’s total fundraising to $30 million. [Yahoo Finance]
austin tech quote of the week
Kiro Action wants to tackle homelessness with flex shelters. As part of our Built In Future 5 series highlighting unique early-stage startups, we profiled Kiro Action. The local startup manufactures and delivers flat-packed structures that can be unpacked and assembled within four hours without any special machinery. The structures can be used to house people experiencing homelessness, migrant workers who sleep in tents and residents displaced by natural disasters. The flex spaces are also sold to consumers who need extra space for an office, music studio or yoga room. [Built In Austin]
Serial entrepreneur launched a dog food business. Austin entrepreneur Mason Arnold is one of the co-founders of The Conscious Pet, a startup that converts food scraps from restaurants into dog food. The company was formed back in January but is just now launching its operations, with the expectation of shipping its first orders by the end of June. The company is also seeking investment through a WeFunder page. [Austin Inno]
