Austin—ScaleFactor, a company that sells small businesses a machine learning-based program that automates accounting work like bookkeeping, has raised $2.5 million in seed funding from a group of investors that include Next Coast Ventures and Techstars Ventures. ScaleFactor plans to use the funding on product development. The company participated in the Austin Techstars accelerator earlier … Continue reading “ScaleFactor Nabs $2.5M as A.I. Marches into Business Services”
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.
JumpFiber Gives San Antonio Cord Cutters New Internet Option
San Antonio—Starting a new Internet service business is no easy task, from building the technological infrastructure to wooing customers away from ubiquitous cable companies. But JumpFiber, a new wireless Internet service provider in San Antonio, isn’t shying away from the challenge, and it will now attempt to follow in the footsteps of similar companies like … Continue reading “JumpFiber Gives San Antonio Cord Cutters New Internet Option”
Pitchbook Report: SXSW Accelerator Investments, Exits Since 2007
Austin—The South by Southwest technology conference draws executives from countless companies worth billions of dollars to Austin every year and, with them, investors that want a piece of their equity. But the companies that often get the most attention are the ones that aren’t worth much at all—yet. One way SXSW attendees get to see … Continue reading “Pitchbook Report: SXSW Accelerator Investments, Exits Since 2007”
Techstars Sustainability Adds to Growth of Sponsored Accelerators
After Techstars opened its first program in Boulder, CO, in 2007, the startup accelerator program expanded into three cities over the next four years. But then the real growth started happening. In 2011, Techstars began launching accelerators that focused on startups innovating in a specific sector in partnership with big companies. It partnered with Nike … Continue reading “Techstars Sustainability Adds to Growth of Sponsored Accelerators”
Cloud-Focused Cybersecurity Center at UTSA Aims $5M at Unfilled Jobs
San Antonio—Encryption, access control, intrusion and fraud detection—the fundamentals of cybersecurity remain largely the same regardless of the type of computing infrastructure an organization uses. But the way IT professionals might apply those security methods to an analog computer versus computing on the cloud vary, for a pretty simple reason: people use different systems different … Continue reading “Cloud-Focused Cybersecurity Center at UTSA Aims $5M at Unfilled Jobs”
VelocityTX and OBr Plan to Bring Brazilian Startups to San Antonio
San Antonio — Another week, another announcement from VelocityTX, the rapidly expanding startup program launched last month to promote and aid young tech and bioscience businesses in South Central Texas. VelocityTX is now working to bring Brazilian startups from Rio de Janeiro to San Antonio as a part of a program it is starting with Outsource … Continue reading “VelocityTX and OBr Plan to Bring Brazilian Startups to San Antonio”
Following Wave of Interest in Cybersecurity, SailPoint Files for IPO
Austin—SailPoint Technologies, a cybersecurity company that was acquired by private equity firm Thoma Bravo in 2014, wants to become a public company. SailPoint filed paperwork for an initial public offering on Oct. 20, and plans to list on the New York Stock Exchange under the symbol SAIL. SailPoint is approaching the markets during a high … Continue reading “Following Wave of Interest in Cybersecurity, SailPoint Files for IPO”
Clinical Trial Lab Intrinsic Imaging Joins Rise of AI in Radiology
San Antonio — Algorithms are now a silent, ever-present part of life, turning the wheels that operate our favorite apps, games, television programs, and more. As the complexity of those equations expands, artificial intelligence and deep-learning algorithms are increasingly extending into fields such as healthcare, including diagnostics, which aim to catch health problems in patients. IBM’s … Continue reading “Clinical Trial Lab Intrinsic Imaging Joins Rise of AI in Radiology”
With Pitches for HQ2 Made, Cities Wait on Amazon’s 2018 Decision
From Portland to Pittsburgh, it’s likely that every city in the U.S. with more than 1 million people has made its case to Amazon to locate the company’s second headquarters there. At least, hopefully they have already, because today—if you haven’t heard—was the deadline to apply. Amazon sent North America into a frenzy after announcing … Continue reading “With Pitches for HQ2 Made, Cities Wait on Amazon’s 2018 Decision”
VelocityTX Releases Early Design for Texas Startup “Innovation Center”
San Antonio—A new “superhub” for entrepreneurs and startups in San Antonio is taking shape—at least on paper. VelocityTX, an organization unveiled last month that plans to support and promote local startups, released early renderings of its plans for a three-building “innovation center,” which it says will include an event space, labs, offices, and other resources … Continue reading “VelocityTX Releases Early Design for Texas Startup “Innovation Center””
Two Accelerator Programs Open in Austin as Texas Bolsters Ecosystem
Austin—Two new startup programs have launched in Austin in the last week: One is a Boston-based program that doesn’t take an equity stake in the startups it helps accelerate, while the second is a new branch of Techstars that’s focused on social and environmental businesses. Austin is the newest city in a growing list in … Continue reading “Two Accelerator Programs Open in Austin as Texas Bolsters Ecosystem”
Seattle Biotech Blaze Bioscience Adds $16M for Clinical Trial Work
Blaze Bioscience, a Seattle-based biotech that’s developing “tumor paint” to help surgeons differentiate healthy tissue from tumors that should be removed, has raised a $16.1 million Series B-1 round of funding from existing investors, according a regulatory filing and the company’s CEO. The funds are being used to complete work on the company’s early-stage clinical … Continue reading “Seattle Biotech Blaze Bioscience Adds $16M for Clinical Trial Work”
VelocityTX Becomes Manager of Alliance of Texas Angel Networks
San Antonio—VelocityTX, the recently announced hub for entrepreneurs and startups in San Antonio, is taking over the operation and management duties of the Alliance of Texas Angel Networks, a group that coordinates 14 accredited angel investor networks across the state. VelocityTX will handle public-facing events and manage other activities for the angel network group, known … Continue reading “VelocityTX Becomes Manager of Alliance of Texas Angel Networks”
AlertMedia Takes in $8M for Smartphone-Focused Notification Software
Austin—Emergency messaging provider AlertMedia announced this morning it is taking in $8 million in a Series B round of funding that was led by early stage investor Next Coast Ventures. The Austin-based startup was founded in 2013 and plans to put the new money toward sales growth and further developing its product, which is software … Continue reading “AlertMedia Takes in $8M for Smartphone-Focused Notification Software”
Texas Bio and Tech Hub Looks to Help Global Startups Gain Velocity
San Antonio — VelocityTX, the recently established resource center for entrepreneurs and startups in San Antonio, may have its eyes on bringing businesses from around the world to the U.S., and possibly to the Alamo City. The organization, which launched in September, announced it is starting a “Global Reach” program to identify companies in emerging markets … Continue reading “Texas Bio and Tech Hub Looks to Help Global Startups Gain Velocity”
Palleon Lands $48M to Develop New Type of Checkpoint Cancer Drug
[Corrected 10/4/17, 9:11 a.m. See below.] A Waltham, MA biotech aiming to activate more parts of the immune system in the fight against tumors announced a $47.6 million Series A round of funding from a syndicate of corporate investors. Palleon Pharmaceuticals is developing three antibodies that aim to reactivate immune system activity after having been … Continue reading “Palleon Lands $48M to Develop New Type of Checkpoint Cancer Drug”
Software Startup MedSpoke Adds Physician Users, Mulls New Funding
San Antonio—MedSpoke, a startup with software that aims to make the process of verifying a physician’s credentials easier, is picking up momentum and might seek a new round of funding as soon as the first quarter of 2018, according to CEO Jonathan Larson. The San Antonio company has already had some conversations with healthcare-focused venture … Continue reading “Software Startup MedSpoke Adds Physician Users, Mulls New Funding”
In TaskRabbit’s Sale to Ikea, Lessons for Retail Tech’s Future
“Gig economy” startup TaskRabbit has sold to Ikea, the furniture maker whose customers often turned to TaskRabbit’s online marketplace for help. It will be important to watch how other traditional retailers like Walmart and online sellers like Wayfair respond in the broader competition for tech talent and platforms. This is now a world where retail … Continue reading “In TaskRabbit’s Sale to Ikea, Lessons for Retail Tech’s Future”
Biomed Incubator Watershed Develops Tech for IDing Medical Devices
San Antonio — A biomedical product developer, Watershed Idea Foundry, has created a method of identifying medical devices that have been implanted in the body that uses 3-D printing and its own software. The technology, which Watershed calls structural encoding, prints 3-D codes onto small metal markers that are frequently included in medical devices, which help … Continue reading “Biomed Incubator Watershed Develops Tech for IDing Medical Devices”
San Antonio Spends $200,000 to Get New Biotech Pelican Therapeutics
San Antonio — [Updated 9/27/17, 12:02 p.m. See below.] Pelican Therapeutics, a biotech startup recently re-acquired by the company that founded it, is moving to San Antonio and receiving about $200,000 from the city’s government to do so. The San Antonio City Council approved a plan last week to give the grant to Pelican as long … Continue reading “San Antonio Spends $200,000 to Get New Biotech Pelican Therapeutics”
Austin Venture Firm AVX Partners Changes Name to Elsewhere Ventures
Austin—The founders of an Austin venture capital firm that invests in software companies have renamed the firm to Elsewhere Partners because its founders say it reflects the investors’ interest in companies located in cities that don’t traditionally have much access to venture capital. Previously known as AVX Partners, which was founded in 2015, the firm … Continue reading “Austin Venture Firm AVX Partners Changes Name to Elsewhere Ventures”
EPIcenter Developing Energy Incubator, Think Tank in San Antonio
San Antonio—[Corrected 2:28 p.m. See below.] On the south end of downtown San Antonio, in a 108-year-old power plant that was decommissioned in 2003, a nonprofit has plans to establish a think tank, incubator, and exhibit space that will advocate for innovation in clean energy. Called EPIcenter, the organization is redeveloping the power plant into … Continue reading “EPIcenter Developing Energy Incubator, Think Tank in San Antonio”
San Antonio Tech and Bioscience Group Plans New Innovation Center
San Antonio — [Updated 2:44 p.m. See Below.] A new organization that aims to be a “superhub” for entrepreneurs and startups is being launched in San Antonio by the Texas Research & Technology Foundation, a bioscience and technology economic development group. Called VelocityTX, the group plans to provide capital, mentorship, access to manufacturing facilities, and other … Continue reading “San Antonio Tech and Bioscience Group Plans New Innovation Center”
Northrop Grumman Adds to Growing Cybersecurity Hub in San Antonio
San Antonio—Northrop Grumman, the military contractor that makes everything from cybersecurity systems to fighter planes, has signed a five-year lease on a new property at Port San Antonio, where officials are trying to entice more cybersecurity businesses to move. Northrop (NYSE: [[ticker:NOC]]) is going to occupy a 7,700 square-foot building at the Port, which was … Continue reading “Northrop Grumman Adds to Growing Cybersecurity Hub in San Antonio”
Rackspace Continues Acquisition Strategy, Buying Competitor Datapipe
San Antonio—Rackspace is continuing to pick up its competitors a year after becoming a private company. The cloud-computing firm has acquired Datapipe, a privately held company that manages servers and public and private cloud-computing systems for customers globally, much like Rackspace. Rackspace isn’t revealing terms of the deal, other than that it is the San … Continue reading “Rackspace Continues Acquisition Strategy, Buying Competitor Datapipe”
Five Regions That Could Draw Amazon’s Next Headquarters
[Updated 4:26 p.m. See below.] Amazon sent cities across North America into a frenzy Thursday after announcing plans to build a second headquarters outside of Seattle, bringing with it tens of thousands of jobs and billions of dollars in economic development benefits. The tech and commerce giant says it wants cities and states to apply … Continue reading “Five Regions That Could Draw Amazon’s Next Headquarters”
Favor Adds $22M to Expand Again After Cutting Delivery Outside Texas
Austin—Favor, the delivery startup that shuttered all of its operations outside of Texas earlier this year, has raised a $22 million Series B round of funding to add more cities to the list of 15 in Texas where people can use its app. The startup, which connects people wanting a something delivered via its app … Continue reading “Favor Adds $22M to Expand Again After Cutting Delivery Outside Texas”
Geekdom, 80/20 Promote Execs to Prepare for Next 5 Years of Startups
San Antonio—[Corrected 9/6/17, 3:26 p.m. See below.] Geekdom, the co-working space that has helped revitalize the downtown San Antonio startup scene, has a new leader, as does the nonprofit The 80/20 Foundation, which invests in groups that promote topics like entrepreneurship and tech education. Alexandra Frey, who was the operations manager of The 80/20 Foundation, … Continue reading “Geekdom, 80/20 Promote Execs to Prepare for Next 5 Years of Startups”
Software Maker Convey Wins Innovation Award, Snags $8M for Growth
Austin—[Updated 4:34 p.m. See below.] For Convey, a startup with technology aimed at improving the process of shipping and delivery, winning an award from the Austin Chamber of Commerce last night was the cap to a busy week. The chamber gave Convey its Innovation Award during its annual business award ceremony Wednesday. Three other companies, … Continue reading “Software Maker Convey Wins Innovation Award, Snags $8M for Growth”
Blackhawk Pays $175M for Maine-based E-Commerce Business CashStar
CashStar, a company that makes digital gift cards and commerce software, has sold to financial tech business Blackhawk Network for $175 million in cash. Venture capital-backed CashStar will stay in New England, keeping offices in Waltham, MA and Portland, ME, where its headquarters are located. The company is becoming part of Blackhawk’s digital and incentives … Continue reading “Blackhawk Pays $175M for Maine-based E-Commerce Business CashStar”
Filestack, Maker of File Uploading API, Hires New CEO Sameer Kamat
San Antonio—Filestack, a startup offering software that aims to make uploading photos and other content to applications easier and more reliable, has hired a new CEO: Sameer Kamat, an executive and engineer who spent the last 15 years at data and application backup company Unitrends. Kamat started at Unitrends as a software engineer and worked … Continue reading “Filestack, Maker of File Uploading API, Hires New CEO Sameer Kamat”
GNS Healthcare Adds $6M, Led by Amgen, for Machine Learning Tech
The investment arm of biotech giant Amgen has led a new $6 million round of funding in GNS Healthcare, CEO Colin Hill tells Xconomy. Amgen Ventures’ new investment is a part of the company’s Series C financing round, which now totals $23 million, says Hill, who is also GNS’s chairman and co-founder. Cambridge, MA-based GNS … Continue reading “GNS Healthcare Adds $6M, Led by Amgen, for Machine Learning Tech”
Techstars Cloud Graduate Ilos Videos Snags $1.5M Led By Austin VC
San Antonio—Ilos Videos, a St. Paul, MN-based startup that went through the final Techstars Cloud program in San Antonio in February 2016, has raised a $1.5 million seed round of funding led by Active Capital, an Austin-based firm operated by three former Rackspace employees. Founded in 2015, ilos develops software that helps people make videos … Continue reading “Techstars Cloud Graduate Ilos Videos Snags $1.5M Led By Austin VC”
Coming of Age: San Antonio Startups Experience Busy Summer of M&A
San Antonio—Business leaders have been working for years to recast the Alamo City’s image, in an attempt to brand it as a hub of tech and healthcare startups as much as it is a place for tourists to visit the home of Davey Crockett’s last stand, take a glitzy River Walk, and enjoy a stellar … Continue reading “Coming of Age: San Antonio Startups Experience Busy Summer of M&A”
San Antonio’s CellRight Sells to U.K. Medical Company Tissue Regenix
San Antonio — CellRight Technologies, a maker of bone and tissue grafts derived from cadavers, has been purchased by a British company that also uses a process of removing DNA and cells from human and animal tissue so the products can be used in healthcare. CellRight was sold for as much as to U.K.-based regenerative medicine … Continue reading “San Antonio’s CellRight Sells to U.K. Medical Company Tissue Regenix”
Experimental Drug With San Antonio Roots Changes Home After Merger
San Antonio — Galena Biopharma, a Bay Area biotech that has been developing a cancer vaccine created by a San Antonio researcher, is merging with another immunotherapy company: Sellas Life Sciences Group, which will also be the name of the combined business. Sellas Life Sciences is developing multiple experimental cancer immunotherapies, including a treatment for … Continue reading “Experimental Drug With San Antonio Roots Changes Home After Merger”
New Rapamycin CEO Hired to Handle Funding, FDA Inflection Points
San Antonio — Rapamycin Holdings has a new CEO, is raising a $3.5 million Series B round of funding, and plans to submit an investigational new drug filing to the FDA this year. If all goes well, the small biotech may start its first in-human clinical trials as early as later this year. “The company is … Continue reading “New Rapamycin CEO Hired to Handle Funding, FDA Inflection Points”
After VR’s Shortcomings, Walmart’s Interest in Cube May Be a Boost
San Antonio—Virtual reality has certainly been a hyped industry during the last few years, though it recently gathered a little backlash because of unfulfilled expectations and the recent failure of a Silicon Valley startup. But a deal announced earlier this week indicates that the world’s largest company by revenue still believes in it. San Antonio-based … Continue reading “After VR’s Shortcomings, Walmart’s Interest in Cube May Be a Boost”
San Antonio Biomedical Group Awards Miami Healthcare Researcher
San Antonio — The San Antonio bioscience advocacy group BioMed SA is giving its annual innovation award to Leonard Pinchuk, a scientific researcher in Miami who has co-founded or incubated 10 companies. BioMed SA says it picked Pinchuk because of his work innovating cardiology and ophthalmology products. Pinchuk runs an incubator in Miami called Innovia, which … Continue reading “San Antonio Biomedical Group Awards Miami Healthcare Researcher”
CytoBioScience Plans Merger With Publicly Traded Skyline Medical
San Antonio — CytoBioScience, a startup that sells a device used to screen drug formulations, has plans to merge with a Minnesota-based medical device maker that’s traded on the Nasdaq market for companies with smaller market capitalizations. CytoBioScience announced today it signed a letter of intent to merge with Eagan, MN-based Skyline Medical (NASDAQ: [[ticker:SKLN]]), … Continue reading “CytoBioScience Plans Merger With Publicly Traded Skyline Medical”
Trump Campaign Digital Director Parscale Sells Firm to CloudCommerce
San Antonio—Giles-Parscale, the digital marketing company that rose to fame during President Trump’s campaign by handling the online work during the candidate’s surprise victory, has sold to a California business for $9 million in stock, according to news reports. The San Antonio marketing firm is selling to CloudCommerce, which helps businesses integrate with enterprise e-commerce … Continue reading “Trump Campaign Digital Director Parscale Sells Firm to CloudCommerce”
Eyeing Consumers Needing Car Repairs, CarCalmly Plans August Launch
San Antonio—People who drive spend about 50 minutes on the road per day, according to consulting firm McKinsey. And while laws discourage people from using a cell phone while driving, it’s no secret those drivers probably have smartphones nearby. Some tech startups are seeking opportunities in the auto industry, by using data they can get … Continue reading “Eyeing Consumers Needing Car Repairs, CarCalmly Plans August Launch”
Modeled After Google’s, ScaleFT Security Tech Entices Rackspace, VCs
Austin and San Antonio—Technology, of course, gives us all greater access to information than ever before. In the context of security, however, that’s often a big problem. Companies have historically set up boundaries around the information they’re trying to protect—firewalls and virtual private networks that either aim to keep unwanted people out or allow restricted … Continue reading “Modeled After Google’s, ScaleFT Security Tech Entices Rackspace, VCs”
Illumina Accelerator Sees ‘Huge Impact in Genomics’ in New Startups
Genomics startups are increasing in number and quality, so much so that three-year-old Illumina Accelerator has expanded with its latest class to accommodate five of them. Xconomy got an early look at the specialty accelerator’s sixth cohort, which includes a company named for a butterfly and the accelerator’s first digital health startup. Illumina (NASDAQ: [[ticker:ILMN]]), … Continue reading “Illumina Accelerator Sees ‘Huge Impact in Genomics’ in New Startups”
Startup WiseWear Connects With Ingenu on Wearable Security Device
San Antonio—WiseWear, a San Antonio-based wearable technology maker, has created a new product that uses a low-power wireless network to help users stay connected to an emergency alert services around the globe. The company and its partner on the device, San Diego-based Ingenu, plan to sell it as a small, circular piece of Internet-connected technology … Continue reading “Startup WiseWear Connects With Ingenu on Wearable Security Device”
Mayo Clinic and Boston Software Maker Add Qrativ to Busy A.I. Sector
This story is part of an ongoing series on A.I. in healthcare. Artificial intelligence systems have become a trendy, but useful means of extracting meaning out of the troves of scientific research and clinical data that institutions produce every year. Startups from San Francisco to Boston have launched with the goal of helping pharmaceutical companies … Continue reading “Mayo Clinic and Boston Software Maker Add Qrativ to Busy A.I. Sector”
San Antonio’s eHealthScreenings Sold to PE-Owned Premise Health
San Antonio—A Tennessee-based company that manages businesses’ onsite health clinics has acquired San Antonio-based eHealthScreenings, a company that offers biometric health screenings and that has developed software to collect and analyze data from those screenings. The acquirer, Premise Health, didn’t disclose terms of the deal in a press release issued Tuesday. EHealthScreenings was founded in … Continue reading “San Antonio’s eHealthScreenings Sold to PE-Owned Premise Health”
Allurion Technologies Adds $27M for Nonsurgical Weight Loss Balloon
About 10 years ago, I ate a 72-ounce steak in one hour for an eating competition. Could I still eat that much if I had Allurion Technologies’ gastric balloon for weight loss inside me? “If you tried to eat the whole thing, your body would definitely let you know that it isn’t the best idea,” … Continue reading “Allurion Technologies Adds $27M for Nonsurgical Weight Loss Balloon”
Austin’s Riskpulse Formed in the Vortex of Two Weather-Tech Startups
Austin—For businesses that ship anything from mayonnaise to car parts, a change in temperature or an unexpected storm can mean bigger problems than just rotten eggs or stalled repairs. In this age of “just in time manufacturing,” entire factories might need to halt production if the right parts aren’t delivered, potentially costing thousands of dollars … Continue reading “Austin’s Riskpulse Formed in the Vortex of Two Weather-Tech Startups”
From Proving Ground to Air Force, San Antonio Builds IT Security Cluster
San Antonio—With a major Air Force unit, the year-old Build Sec Foundry startup incubator, and new dedicated facilities at the port, San Antonio has a host of assets positioning the city as a center of innovation and entrepreneurship in one of the most in-demand specialties of the broader IT industry: cybersecurity. Build Sec, housed at … Continue reading “From Proving Ground to Air Force, San Antonio Builds IT Security Cluster”