These 10 Austin Tech Companies Raised a Total of $767M in 2020

This year has brought plenty of new innovations to the Austin tech scene. Undeterred by the COVID-19 pandemic, several companies secured ample new capital to further advancements in areas from digital healthcare to online streaming.

Written by Ashley Bowden
Published on Jan. 04, 2021
These 10 Austin Tech Companies Raised a Total of $767M in 2020
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PHOTO: SHUTTERSTOCK

Last year has brought plenty of new innovations to the Austin tech scene. Undeterred by the COVID-19 pandemic, several companies secured ample new capital in 2020 to further advancements in areas from digital healthcare to online streaming.

Leading the way for Austin in 2020 was Everlywell, followed by Homeward and Vapor IO. Read on for the rest of the top Austin tech fundings of 2020. Now, onward to 2021.

 

#9 (tied). $50 million, November 17

Since the pandemic has spurred companies to continue remote work, the company has encountered increased demand among employers for its AI-powered workforce analytics and productivity software. Its Series B round was led by Sapphire Ventures and will enable it to further develop its platform and expand its integrations with third-party data sources and tech partners. ActivTrak is also hiring for sales, marketing and product development positions.

 

#9 (tied). $50 million, August 27

As more people are searching for ways to earn money by streaming content online, this startup aims to help them reach larger audiences. After closing its Series B round led by Sapphire Ventures and Insight Partners, this startup plans to launch its product Restream Studio. The platform offers content creators and businesses a way to broadcast live videos simultaneously across over 30 social platforms.

 

#8. $55 million, November 19

For entrepreneurs looking to take charge of their solo business ventures, the company offers tools to help its customers create an LLC or corporation for free. After raising a Series B funding round led by Cathay Innovation, the startup is working to enhance its services and launch new platforms including ZenBusiness Money for fintech services and ZenBusinessU for educational resources. The company is also hiring in engineering, development, design and more.

 

#5 (tied). $60 million, February 19 and December 15

With a goal to help its customers build a good credit score and reach their financial goals, Self Financial had an eventful year with two funding rounds to help further its platform. Its $20 million Series C round in February was led by Altos Ventures and Conductive Ventures and went toward hiring new talent. This month, Self announced the close of its $40 million Meritech Capital-led Series D that will allow the company to continue supporting its customers.

 

#5 (tied). $60 million, January 16

One thing that has been consistently challenging for city dwellers is finding a good parking space, but with its equity financing from L Catterton, this company is seeking to lessen the burden for drivers. Its cloud-based software platform offers users real-time data and pricing options for city parking space providers. With the funding, the startup is working toward advancing its mobility hub operations.

 

#5 (tied). $60 million, October 15

The legaltech startup’s AI-powered platform helps customers efficiently search documents to determine their relevance to a specific case. With its software, users can automate, organize and expedite their collection of evidence. After securing the new funding, the company’s valuation raised to $785 million. Additionally, the company announced $40 million in debt financing in December. DISCO is planning on expanding worldwide, furthering the development of its platform, and increasing its go-to-market and enterprise sales teams.

 

#4. $62.5 million, June 24

With its Series D funding led by Wafra, the startup is planning on growing its AI-powered platform that provides customers with personalized property recommendations for real estate. This comes after acquiring Movoto, a search engine for residential properties. The company also announced plans to increase its headcount in engineering, data science, product talent and other teams.

 

#3. $90 million, January 22

This startup is working to expand its edge computing service offerings. Edge computing uses a network of data servers located closely to the device attempting to access that data, so users can access the information they need more quickly than in some cloud computing instances. After the close of its extended Series C, Vapor IO is looking toward expanding into 36 markets by the end of next year with its edge colocation, edge exchange and edge networking services.

 

#2. $105 million, May 14

This company offers a way for real estate agents to buy and sell their clients’ homes through a central platform. With the new equity funding, this startup is planning to expand its housing inventory by the hundreds as well as partner with thousands of agents across Texas, Colorado and Georgia. Most of its fresh funding will go toward hiring new team members in engineering, marketing, product and operations.

 

#1. $175 million, December 3

Offering digital health solutions has become an even greater necessity during the pandemic, and this company’s at-home medical testing kits are in higher demand than ever before as a result. It plans on using the capital from its Series D round to grow its testing infrastructure, enhance its virtual care platform, invest in clinical research and expand its nationwide footprint. The round brings Everlywell’s total funding to $250 million.

 

Funding data is compiled from SEC filings, press releases, confirmed news reports and other public databases. Funding includes venture capital and private equity announced during 2020, but excludes acquisitions and debt financing in most cases.

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