These 5 Austin Tech Companies Raised August’s Largest Funding Rounds

Learn how the companies who raised last month’s largest rounds are investing their new capital.

Written by Jeff Rumage
Published on Sep. 01, 2022
These 5 Austin Tech Companies Raised August’s Largest Funding Rounds
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Austin companies from all corners of the tech industry raked in venture capital in August. Wearable devices, voice AI and social gaming were among the technological innovations that won over investors last month. Keep reading to learn more about last month’s five largest funding rounds from the Austin tech scene.

 

#5. $10 million, August 23

ConverseNow is the developer of an AI-powered virtual assistant that answers phone calls and takes drive-thru orders at more than 1,200 restaurants, including Domino’s Pizza, Fazoli’s and Blake’s Lotaburger. This funding round, led by Enlightened Hospitality Investments, will be used to scale the company’s AI as it onboards new customers. This round also comes one year after the company’s $15 million Series A.

 

#4. $12 million, August 24

Founded in 2020, Sustainment Technologies helps manufacturers better navigate the supply chain by connecting them with parts suppliers. Sustainment uses AI, machine learning and natural language processing to extract data from technical specifications and renderings to identify which manufacturers have the capability to create a given part. The company, which currently employs 15 people and 10 full-time contractors, will use a portion of its new funding to double the size of its team.

 

#3. $13 million, August 29

Astro, originally known as Austin Software, helps companies tap software engineering talent from Latin America by automating the sourcing, vetting, procurement, payment and benefits administration. The company plans to use its new Series A funding to improve its matching algorithm, increase its developer workforce from 213 to 300 people and develop a payroll solution for international employees outside of its network.

 

#2. $18.75 million, August 5

Social gaming platform INK Games gives users a portion of a game’s revenue based on the value of their online connections and viral reach. The company, which opened an office at The Domain at the beginning of the year, will use a portion of its new Series B funding to double its employee headcount from 45 to 90 by the end of the year.

 

#1. $60 million, August 24

Happy Health launched from stealth last month with a Series A funding round and a wearable device, known as the Happy Ring, which measures users’ stress, mood and sleep in real-time. The device uses sensors to gather physiological data from the user’s finger, and then its technology translates those indicators into objective measures of the user’s mood state.

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