Austin—ATX Seed Ventures has closed a $32 million investment fund, the firm’s second. ATX invests in early-stage software, Internet of Things, e-commerce, and mobile application startups. Founded in 2014, ATX Seed Ventures says it now has $60 million in assets under management and has invested in 26 companies, including startups like Everfest, Pensa Systems, and … Continue reading “ATX Seed Ventures Raises Second Investment Fund of $32 Million”
Author: David Holley
David is the national correspondent at Xconomy. He has spent most of his career covering business of every kind, from breweries in Oregon to investment banks in New York. A native of the Pacific Northwest, David started his career reporting at weekly and daily newspapers, covering murder trials, city council meetings, the expanding startup tech industry in the region, and everything between. He left the West Coast to pursue business journalism in New York, first writing about biotech and then private equity at The Deal. After a stint at Bloomberg News writing about high-yield bonds and leveraged loans, David relocated from New York to Austin, TX.
He graduated from Portland State University.
Rapamycin Holdings Changes Name to Emtora Biosciences, Hires New CEO
San Antonio — Rapamycin Holdings, a life sciences business working to commercialize a new formulation of an immunosuppressant as a prostate cancer drug, has changed its name to Emtora Biosciences and hired a new CEO. Carole Spangler Vaughn is taking over at Emtora for Dan Hargrove, who has spent about 18 months in the chief executive … Continue reading “Rapamycin Holdings Changes Name to Emtora Biosciences, Hires New CEO”
Port San Antonio Considers Innovation Center on Former Air Force Base
San Antonio—As one business development group begins work on a new “innovation center” for life science and tech startups near downtown San Antonio, TX, another Alamo City organization has said it may develop a second innovation and education center in the southwest part of town. Port San Antonio, which was established as a public entity … Continue reading “Port San Antonio Considers Innovation Center on Former Air Force Base”
Scaleworks Adds $80M for Second “Venture Equity” Investment Fund
San Antonio—[Updated 12:32 p.m. See below.] Scaleworks has raised $80 million to acquire more startups, three years after Lew Moorman and Ed Byrne founded the business as a “venture equity” investment shop. Scaleworks branded its investment style as a mix of private equity and venture capital because it buys its targets outright like a private … Continue reading “Scaleworks Adds $80M for Second “Venture Equity” Investment Fund”
Notley Invests in DivInc Accelerator for Women and People of Color
Austin—DivInc, a nonprofit business accelerator for women and people of color, has received a philanthropic investment from Notley Ventures to expand its accelerator program. DivInc also announced a partnership with Notley that will let the accelerator use services that Notley offers organizations it works with, including finance, operations, marketing, and fundraising. DivInc plans to move … Continue reading “Notley Invests in DivInc Accelerator for Women and People of Color”
GenCure Plans Adult Stem Cell Lab at San Antonio “Innovation Center”
San Antonio—GenCure, a subsidiary of life sciences nonprofit BioBridge Global, expects to open a biomanufacturing laboratory this year at a new “innovation center” that’s being developed by VelocityTX in San Antonio. GenCure is a regenerative medicine-focused organization that accepts and stores bone marrow and umbilical cord blood, which it uses to produce adult stem cells … Continue reading “GenCure Plans Adult Stem Cell Lab at San Antonio “Innovation Center””
VelocityTX Lands City Grant for “Innovation Center” Redevelopment
San Antonio — [Updated 2/19/19, 2:30 p.m. See below.] VelocityTX is getting a $750,000 grant and another tax incentive from the City of San Antonio for its redevelopment of a large industrial space that VelocityTX plans to turn into a three-building “innovation center” for tech, life sciences, and other businesses. VelocityTX, which is the innovation arm … Continue reading “VelocityTX Lands City Grant for “Innovation Center” Redevelopment”
It’s Not You, It’s Your Officials: Amazon Cancels HQ Plan for NYC
[Updated, 02/15/19, 8:50 CT] After a whirlwind courtship and brief engagement, Amazon has broken off its plans to establish another headquarters in New York’s Long Island City neighborhood. Amazon (NASDAQ: [[ticker:AMZN]]) rationalized its Valentine’s Day breakup with the Big Apple by saying that the problem was state and local officials, not New Yorkers themselves. A … Continue reading “It’s Not You, It’s Your Officials: Amazon Cancels HQ Plan for NYC”
San Antonio Life Science Business Acelity Cuts 260 Jobs in Texas, NC
San Antonio—Acelity, a decades-old San Antonio life sciences company known for its wound-healing technologies and tissue-repair products, plans to lay off 200 employees at its San Antonio headquarters and another 60 in Charlotte, NC, a company spokesperson said. The job cuts are occurring in “the coming months” and are part of changes Acelity is making … Continue reading “San Antonio Life Science Business Acelity Cuts 260 Jobs in Texas, NC”
InventaBioTech, Formerly CytoBioScience, Replaces CEO
San Antonio—The CEO of InventaBioTech, a life sciences business formerly known as CytoBioScience, is stepping down and being replaced by an interim leader. Jim Garvin, who has been the CEO of Inventa since March 2015, shortly before it moved to San Antonio, TX, from Germany, will remain an active contributor to the business, he wrote … Continue reading “InventaBioTech, Formerly CytoBioScience, Replaces CEO”
Foot Traffic Startup Scraffic Mulls New Funding, Machine Learning
San Antonio—[Updated and corrected 2/15/19, 10:53 a.m. CT. See below.] Scraffic, a small startup that helps retailers count foot traffic in their stores, has gone international. The San Antonio-based business, which has four employees, now has customers in the Philippines, Spain, and Canada, as well as users in the U.S. Scraffic found opportunity to expand … Continue reading “Foot Traffic Startup Scraffic Mulls New Funding, Machine Learning”
LGS Innovations Plans San Antonio Cyber Hub After $750M Sale to CACI
San Antonio—[Updated 3:02 p.m. See below.] LGS Innovations, a Virginia-based tech company focused on cybersecurity and communications, still expects to open a cybersecurity operations hub in San Antonio, TX, after its acquisition by federal contractor CACI International. LGS announced Jan. 23 it was considering opening a hub in San Antonio for some of its cybersecurity … Continue reading “LGS Innovations Plans San Antonio Cyber Hub After $750M Sale to CACI”
Want Better Tech Employees? Give Students More Data, Educators Say
San Antonio—Developers, analysts, and data scientists: Every tech company needs them, particularly in hot areas like cybersecurity and artificial intelligence. The U.S. Department of Labor projects that computer and IT jobs would grow 13 percent by 2026 from 2016, which is faster than the average of all occupations. Even though there’s demand for workers, educators … Continue reading “Want Better Tech Employees? Give Students More Data, Educators Say”
Active Capital, Focused on Seed-Stage SaaS Startups, Raises $21.5M
San Antonio—Active Capital, a San Antonio, TX-based venture firm that invests in seed-stage software-as-a-service startups, has raised $21.5 million for its first investment fund. Active Capital has been investing for the last 18 months as it raised money from limited partners in mostly San Antonio, Austin, and Virginia. While Active’s investments cover a wide range … Continue reading “Active Capital, Focused on Seed-Stage SaaS Startups, Raises $21.5M”
Investing, Real Estate, In-Game Ads: Sputnik ATX’s Third Accelerator
Austin—[Updated 3:48 p.m. See below.] Startup accelerator Sputnik ATX has a picked five startup companies for its newest program, the third Sputnik has run. That includes software makers and entrepreneurs focused on investing, commercial real estate, advertising for gaming, and building websites. Founded in 2017, Sputnik ATX runs two programs annually, selecting a group of five … Continue reading “Investing, Real Estate, In-Game Ads: Sputnik ATX’s Third Accelerator”
Austin’s RigUp Adds $60M for Service That Finds Oil and Gas Workers
Austin—Energy industry startup RigUp has added $60 million in new funding for its service that aims to connect oilfield workers who are looking for a job with oil and gas companies. The financing is Austin, TX-based RigUp’s Series C funding round and was led by Founders Fund, the San Francisco venture firm started by PayPal … Continue reading “Austin’s RigUp Adds $60M for Service That Finds Oil and Gas Workers”
Companies at Geekdom Got 17% of San Antonio’s Venture Money in 2018
San Antonio—Companies housed at co-working space Geekdom raised $18.7 million in investment funding during 2018, an increase of more than 81 percent from the previous year, according to Geekdom. That accounts for almost 17 percent of the total venture funding raised by businesses in San Antonio last year, according to regional data compiled by PitchBook … Continue reading “Companies at Geekdom Got 17% of San Antonio’s Venture Money in 2018”
What $1M in Bay Area Startup Dollars Buys You in 12 Other Cities
The cost of doing business is always on the mind of startup executives. Salaries, rent, and other expenses like software licenses can often make or break a company. Much of the math comes down to how much money you can raise for your business, and startups often look to San Francisco and Silicon Valley to … Continue reading “What $1M in Bay Area Startup Dollars Buys You in 12 Other Cities”
PR Software Maker TrendKite Sold to Cision for $225M Cash and Stock
Austin—TrendKite has sold to Cision, a Chicago-based public relations and marketing software company, in a $225 million in a cash-and-stock deal. Cision (NYSE: [[ticker:CISN]]) is paying $94 million in cash and offering Austin-based TrendKite shareholders 10.2 million Cision shares. The company’s stock dipped 2.6 percent to $12.16 each as of midday in New York after … Continue reading “PR Software Maker TrendKite Sold to Cision for $225M Cash and Stock”
Dosh Adds $40 Million in New Funding For Cash-Back Advertising App
Austin—[Updated and corrected, 2:36 p.m.] Dosh has added $40 million in new funding to further develop its mobile app that offers users cash back on certain purchases. The money is Dosh’s Series B round of financing, and includes $20 million in equity financing and $20 million in venture debt. Goodwater Capital and Western Technology Investment … Continue reading “Dosh Adds $40 Million in New Funding For Cash-Back Advertising App”
Geekdom Co-Working Space Opens Six-Week Entrepreneurship School
San Antonio—Co-working space Geekdom is starting a short-term night program for people interested in learning about entrepreneurship. The school, to be called The District, is accepting 36 students for its first six-week session, which begins Feb. 4. The program will run three times a year, Geekdom says. Classes will take place Monday through Thursday from … Continue reading “Geekdom Co-Working Space Opens Six-Week Entrepreneurship School”
A Healthier Lifestyle Helped Lead This Tech Exec to His Next Venture
Austin—Douglas Ferguson needed a change after his diagnosis of Type 1 diabetes at age 30. As a career software engineer and technology executive, Ferguson has been a part of the Austin, TX, tech scene since its first heyday in the 1990s. The diagnosis, which he received in the mid-2000s, was a product of that sleepless, … Continue reading “A Healthier Lifestyle Helped Lead This Tech Exec to His Next Venture”
ScaleFactor Adds $30M from Bessemer to Boost Accounting Software
Austin—ScaleFactor is adding a $30 million round of funding led by Bessemer Venture Partners to make new hires and add more features to its software that automates accounting and provides financial insights. The Austin, TX-based company targets small- and medium-sized business with its software, noting that there are 19 million in the U.S. with fewer … Continue reading “ScaleFactor Adds $30M from Bessemer to Boost Accounting Software”
Austin’s Media Tech Incubator Readies for First Group of Startups
Austin—An incubator for startups that are developing a media product is in its final week of accepting applications. Called Collective, the incubator is focused on startups that are working on innovating the media space, which includes augmented and virtual reality, publishing, news, public relations, video games, music, sound, film, marketing, advertising, radio, and podcasting, the … Continue reading “Austin’s Media Tech Incubator Readies for First Group of Startups”
To Buy or Not to Buy: FunnelAI Studies Consumers’ Intent to Purchase
San Antonio—Sridhar Kamma is the kind of car enthusiast who would meet up with other devotees a couple times a month to talk about the merits of a BMW M3 versus a Porsche Boxster, a Mustang versus a Camaro. He’s the type to post questions in online forums and blogs about where he could find … Continue reading “To Buy or Not to Buy: FunnelAI Studies Consumers’ Intent to Purchase”
Victory Capital Acquires USAA Investment Arm, Moves to San Antonio
San Antonio—An Ohio investment firm that recently announced it would acquire an investment management arm of San Antonio-based USAA is now planning to move its headquarters to the Alamo City. Victory Capital Management (NASDAQ: [[ticker:VCTR]]) said Thursday it plans to open its San Antonio headquarters in mid-2019. The company is currently located in Brooklyn, OH, … Continue reading “Victory Capital Acquires USAA Investment Arm, Moves to San Antonio”
Motorola Solutions Pays $445M for VaaS, Which Tracks Car Locations
Fort Worth—Motorola Solutions (NYSE: [[ticker:MSI]]) is acquiring a Texas company that sells law enforcement offices and private businesses data it collects about license plates—which can reveal where a car is at a certain time, say—for $445 million in cash and equity. Through two subsidiaries, Fort Worth, TX-based VaaS International Holdings sells data and image analytics … Continue reading “Motorola Solutions Pays $445M for VaaS, Which Tracks Car Locations”
How a San Antonio Physician Went From a Spy Plane to Olifant Medical
San Antonio — Entrepreneurship wasn’t something that Steven Venticinque expected to pursue in his life. Like many tinkerers and inventors, Venticinque took to entrepreneurship in order to fix a problem. Intubation—the process of quickly inserting a breathing tube into someone, such as an emergency room patient who needs help breathing—isn’t as easy as you might think. … Continue reading “How a San Antonio Physician Went From a Spy Plane to Olifant Medical”
Waldo Adds $4 Million for Software That Finds Your Face in the Crowd
Austin—Waldo Photos, a startup with facial recognition software that helps its users find photos of themselves and family members, has raised $4 million in a new round of financing led by Lewis & Clark Ventures. Waldo plans to use the money to add to its engineering team and sales force, as the startup is expanding … Continue reading “Waldo Adds $4 Million for Software That Finds Your Face in the Crowd”
San Antonio Develops “Action Plan” to Draw Life Sciences Businesses
San Antonio — San Antonio has a new “action plan” for bringing more life sciences businesses and professionals to the city, as well as for retaining those it already has. Economic development groups and city officials have been developing a strategy for boosting the healthcare industry in town for more than a year. BioMed SA, … Continue reading “San Antonio Develops “Action Plan” to Draw Life Sciences Businesses”
Rectify Takes Its Lengthy History to San Antonio Security Incubator
San Antonio—Rectify, a business developing software to automate the process of removing private or sensitive information from documents when they’re shared, has had a busy start to the winter. The Austin, TX-based company won $100,000 during a pitch contest in October at the Women in Tech Summit hosted by Capital Factory. A month later, it … Continue reading “Rectify Takes Its Lengthy History to San Antonio Security Incubator”
Apple Plans 5,000 Jobs for New Austin Site as Part of Nationwide Expansion
Austin — [Updated 3:10 p.m. See below.] Apple expects to make thousands of new hires around the country from Seattle to New York, the company announced Thursday, with its biggest growth planned for Austin, TX. The computer and smartphone manufacturer plans to hire 5,000 new employees in Austin and to spend $1 billion building a new … Continue reading “Apple Plans 5,000 Jobs for New Austin Site as Part of Nationwide Expansion”
Dell Sets Return to Public Market With Shareholder OK of VMware Deal
Austin—Dell Technologies is on its way to becoming a public company again. Shareholders of a stock that’s linked to Dell subsidiary VMware approved a plan for Dell to buy out the stock, allowing it to return to the public market. Dell, based in Round Rock, TX, announced Tuesday that 61 percent of the shareholders of … Continue reading “Dell Sets Return to Public Market With Shareholder OK of VMware Deal”
San Antonio Seeks to Be Known as Silicon Valley of Military Medicine
San Antonio — When it comes to medical technology, what’s good for the military isn’t always good for the private sector. It’s often difficult for military researchers to find investors who will help them privately commercialize the innovations they develop, in part because the duties of military physicians are different than those of civilian doctors. That’s … Continue reading “San Antonio Seeks to Be Known as Silicon Valley of Military Medicine”
As Unicorns Multiply, Bootstrapped Tech Businesses Holding Steady
[Corrected 12/11/18, 11:20 p.m. See below.] Why do unicorns get all the attention? Brian de Haaff wonders this sometimes, especially as compared to his own tech business, Aha. It’s not a “unicorn”—a business with a valuation of more than $1 billion—and it’s not even close. Instead, Aha is a bootstrapped startup. Founded in 2013 by … Continue reading “As Unicorns Multiply, Bootstrapped Tech Businesses Holding Steady”
Aceable’s $47M Funding Round is Latest in Year of Big Austin Deals
Austin—Online training service Aceable landed the perhaps the biggest Austin startup headline of the week: The company announced a $47 million Series B funding round, one of the largest financings this year. Aceable was founded as a driver’s education platform for teens and other soon-to-be drivers, and has expanded the service to numerous states since … Continue reading “Aceable’s $47M Funding Round is Latest in Year of Big Austin Deals”
Enzyme Health Adds $1.7M for Clinician Telemedicine Job Marketplace
Austin—A new telehealth-focused startup, Enzyme Health, has raised a $1.7 million seed funding round to build out its marketplace for doctors and nurse practitioners looking for new online gigs. Enzyme Health connects clinicians with the companies that provide telemedicine services to patients, with the aim of helping doctors and nurse practitioners find more freelance work … Continue reading “Enzyme Health Adds $1.7M for Clinician Telemedicine Job Marketplace”
GM’s Ammann Takes Reins of Cruise From Co-Founder Vogt, Now CTO
Self-driving car business Cruise has a new leader: Dan Ammann, the General Motors president who led the company’s acquisition of Cruise in 2016, is now being named CEO of the autonomous vehicle subsidiary. Cruise co-founder Kyle Vogt is relinquishing the top role to remain with the company as its president and chief technology officer. Vogt … Continue reading “GM’s Ammann Takes Reins of Cruise From Co-Founder Vogt, Now CTO”
CytoBiosciences Buys Fellow Targeted Tech Company BioDTech for Stock
San Antonio — One portfolio company of investment firm Targeted Technology is acquiring another. San Antonio-based CytoBioscience, through its parent company, is buying BioDtech, a Birmingham, AL-based maker of technology for detecting and removing endotoxins, toxins that are carried within the cell walls of certain bacteria and associated with various types of infections, according to a … Continue reading “CytoBiosciences Buys Fellow Targeted Tech Company BioDTech for Stock”
Vida Medical Preps Tests of Vascular Line Device, with More in Store
San Antonio — Vida Medical Devices, a startup led by a Brazilian inventor and a longtime San Antonio life sciences executive, is preparing to hit the market with a test version of its first medical device: a guard that protects vascular access lines during surgery. This month, Vida is having a contract manufacturer produce a batch … Continue reading “Vida Medical Preps Tests of Vascular Line Device, with More in Store”
Robots and Tax Breaks: How Plus One Robotics Started in San Antonio
San Antonio—Toyota opened a large-scale manufacturing plant in San Antonio, TX, in 2006, where both humans and computer-controlled Yaskawa robots began to build Tundra and Tacoma trucks. Erik Nieves moved to San Antonio because someone had to install, program, and maintain those robots. Nieves was the man for the job: Not only was he originally … Continue reading “Robots and Tax Breaks: How Plus One Robotics Started in San Antonio”
Startup Flightpath Finance Snags Seed Funding from Active Capital
San Antonio—Flightpath Finance, a startup that works with customers’ accounting software, has taken a $515,000 round of funding that was led by Active Capital and other San Antonio investors. Flightpath sells a service that tracks and forecasts revenue, cash, and expenses for businesses, integrating with its customers’ accounting software and other internal data. It’s a … Continue reading “Startup Flightpath Finance Snags Seed Funding from Active Capital”
Apptio Sells to PE Firm Vista Equity for $1.94B Two Years After IPO
Apptio is being taken private by investment firm Vista Equity Partners in a $1.94 billion acquisition. Founded in Bellevue, WA, in 2007, Apptio (NASDAQ: [[ticker:APTI]]) helps corporate leaders track and manage IT spending. The company went public in 2016 with a $96 million IPO, and has recently been acquiring other businesses. It bought FittedCloud, a … Continue reading “Apptio Sells to PE Firm Vista Equity for $1.94B Two Years After IPO”
Rainwater Foundation Deploys Millions Toward Rare Brain Disease, PSP
Dallas — A foundation started by a Texas billionaire announced Tuesday it will offer millions of dollars in awards to scientists who research neurodegenerative diseases such as Alzheimer’s and progressive supranuclear palsy. The Rainwater Charitable Foundation, which was founded in the 1990s by billionaire investor Richard Rainwater, announced it will start to offer in 2019 an … Continue reading “Rainwater Foundation Deploys Millions Toward Rare Brain Disease, PSP”
Amazon Reportedly Picks HQ2 City—and, in Surprise, Another for HQ3
Amazon is reportedly choosing two cities, not one, for its second headquarters, according to sources cited by The Wall Street Journal and The New York Times. Amazon (NASDAQ: [[ticker:AMZN]]) is working on a deal to move into both the Long Island City neighborhood of Queens in New York City and the Crystal City neighborhood of … Continue reading “Amazon Reportedly Picks HQ2 City—and, in Surprise, Another for HQ3”
Broadcom to Sell Veracode for $950M After $19B CA Technologies Deal
Broadcom is selling application security testing business Veracode for $950 million to private equity firm Thoma Bravo. Broadcom gained Veracode as a part of its blockbuster acquisition of CA Technologies. Broadcom (NASDAQ: [[ticker:AVGO]]) announced in June it would acquire CA Technologies (NASDAQ: [[ticker:CA]]) for $18.9 billion, and announced today it has completed that deal. New … Continue reading “Broadcom to Sell Veracode for $950M After $19B CA Technologies Deal”
Win $2 Million to Solve Alzheimer’s: New Prize Will Reward Fresh Ideas
San Antonio — A Texas billionaire is funding a new competition that will give $4 million to seven individuals who present promising ideas about the cause of Alzheimer’s disease and say they’ll work to prove it. Called the Oskar Fischer Project, the program will give the grand prize winner $2 million of the total, while two … Continue reading “Win $2 Million to Solve Alzheimer’s: New Prize Will Reward Fresh Ideas”
Scaleworks Sells Source Code Manager Assembla to Houston’s Idera
San Antonio—Scaleworks business Assembla has sold for an undisclosed price to Houston-based Idera, a company that owns various business-to-business, developer-focused software companies. San Antonio-based Assembla sells a service that helps developers access the code they use to build software, which is often stored in repository managers, such as Git, Perforce, and NextGen SVN. Assembla was … Continue reading “Scaleworks Sells Source Code Manager Assembla to Houston’s Idera”
MR3 Health Takes Aim at Foot Ulcers as San Antonio Tackles Diabetes
San Antonio — Researchers, advocates, and residents in San Antonio have been seeking out ways to handle the growing problem of diabetes in San Antonio and the surrounding Bexar County, which saw the rate of adults with the condition increase to 14.2 percent in 2014 from 11.4 percent two years earlier. Both are higher than the … Continue reading “MR3 Health Takes Aim at Foot Ulcers as San Antonio Tackles Diabetes”
Still Seeking Pharma Partner, Phoenix Bio Adds $1M in Angel Funding
San Antonio — Phoenix Biotechnology, which has been developing an experimental plant-based drug for cancer for more than a decade, has added about $1 million in new funding, according to a securities filing and the company’s top scientist. The San Antonio-based biotech is using the money to continue research and operations for developing its cancer drug, … Continue reading “Still Seeking Pharma Partner, Phoenix Bio Adds $1M in Angel Funding”