These 10 Austin Tech Companies Raised a Combined $2B+ in 2021

Silicon Hills had a massive year on the VC funding front. These companies led the charge.

Written by Delilah Alvarado
Published on Jan. 04, 2022
These 10 Austin Tech Companies Raised a Combined $2B+ in 2021
Photo: Shutterstock
Photo: Shutterstock

Silicon Hills saw many tech companies establish themselves in 2021. Despite the pandemic, it was a big year full of innovation and significant gains.

In fact, last year’s top-funded Austin tech companies brought in approximately $2.6 billion — up nearly 240 percent compared to rankings in 2020.

These 10 local companies saw the most gains in 2021. Read on to see who led the way.


#10. $140 million, December 14

The company raised $140 million in a funding round led by General Atlantic. Restore Hyper Wellness provides holistic wellness treatments such as cryotherapy and IV drip therapy. The fresh funding will go toward opening new studios with a goal of launching one new store every four days, on average. Restore also plans to hire additional staff for technology operations and marketing. 


#9. $150 million, April 12

The Zebra is an insurance company that allows users to compare a number of agencies, policies and receive quotes. The $150 million Series D round raised the company’s valuation to more than $1 billion, securing unicorn status. The Zebra will put this funding toward building out its brand and hiring at least 100 employees in Austin. 


#8. $168.3 million, February 5 and May 4

The aerospace tech company that develops small and medium launch vehicles raised two rounds of funding in 2021. In February, NASA invested $93.3 million in Firefly Aerospace to aid in the company’s moon exploration. Three months later, Firefly raised a $75 million Series A funding round led by DADA Holdings, bringing the company’s valuation to more than $1 billion and solidifying unicorn status. 


#6 (tied). $200 million, November 9 

ZenBusiness recently became a tech unicorn after a Series C round that brought in $200 million. Valued at $1.7 billion, ZenBusiness provides a platform for entrepreneurs and users to create a business, step-by-step. The funding went toward adding new features to help customers manage their finances on the platform. 


#6 (tied). $200 million, September 14 

Canva is a graphic design platform offering workplace collaboration spaces and templates. The company is now valued at $40 billion following its $200 million raise in September. Canva plans to expand its product portfolio and increase the number of employees, with several positions currently open. As of September, the Australian-based company had 75 employees in Austin, where it opened its first U.S. office in 2020.


#5. $222.5 million, January 20 and August 24

ICON had a successful year which included raising two rounds of funding. The startup raised nearly $15.5 million last January, according to Crunchbase, and another $207 million in August. The Austin-based startup makes homes and structures by using 3D technology to print them. ICON has built more than two dozen 3D-printed homes and has several projects underway, including barracks and a simulated surface habitat on Mars.


#3 (tied). $300 million, May 20

Workrise’s platform allows skilled laborers to find work and helps employers find in-demand employees. The company experienced rapid growth last year and raised a $300 million Series E funding round led by Baillie Gifford. Workrise is actively hiring for various positions and will use the fresh capital to expand into new markets. 


#3 (tied). $300 million, April 28 

Arrive Logistics is one of the fastest-growing freight brokerages working with a network of carriers and shipping companies to offer custom shipping options. Its $300 million funding round allowed Arrive to expand its team and create new service offerings. The company has plans to hire 1,000 people each year over the next few years. 


#2. $317.5 million, April 8, July 12 and November 9

Elevate Brands experienced tremendous growth in 2021. The company acquires and operates Amazon third-party businesses. In April, Elevate raised $12.5 million and gained its 20th brand. Three months later, it raised a whopping $250 million, and in November raised $55 million in equity funding.


#1. $625 million, October 20

Invicti Security, the company behind Netsparker and Acunetix, gained $625 million in October to fuel its international growth. Invicti allows companies to scan their web footprint for any vulnerabilities and is expected to significantly grow its headcount in 2022. 


Funding data are compiled from SEC filings, press releases, confirmed news reports and other public databases. Funding includes venture capital and private equity announced during 2021, but excludes acquisitions and debt financing.

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