Austin—Even the most staid of industries can use a boost from technology. Case in point: Cerity, an Austin, TX-based insurance tech startup founded last year says it’s developing software that uses artificial intelligence to match worker’s compensation policies to small businesses that otherwise wouldn’t get them. “It’s hard to get, complex to understand, and cost … Continue reading “Austin’s Cerity Joins Growing Cohort of Insurance Tech Startups”
Category: Texas
AgileCraft’s Exit, $45M for Ojo Labs, Intel Grants & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Georgetown, TX-based AgileCraft was acquired by Australia-based Atlassian (NASDAQ: [[ticker:TEAM]]), the team collaboration and productivity software maker, for $166 million. AgileCraft makes planning software that helps executives build and manage how the company’s projects develop. It’s focused more on leaders in a business than engineering … Continue reading “AgileCraft’s Exit, $45M for Ojo Labs, Intel Grants & More TX Tech”
Bio Roundup: Sage Postpartum Help, Biogen Bids Adu, Heart Beats & More
One group of people in dire need of medical relief got good news this week. The first drug for postpartum depression was approved. With its complicated logistics, side effects, and potential high cost, it won’t be for everyone who experiences the condition—1 of every 9 U.S. women giving birth. But at least it’s an option. … Continue reading “Bio Roundup: Sage Postpartum Help, Biogen Bids Adu, Heart Beats & More”
Coming Home Again: Estrada Returns to Lead WeWork Labs in Houston
Houston—Co-working company WeWork is opening its latest “Labs” space in Houston. New York-based WeWork, which has 49 Labs programs across the United States and globe, opened its first Texas location, in Dallas, last fall. WeWork’s Labs is the business’s version of an early stage startup program, offering workshops, mentorship, connections to local accelerator and incubator … Continue reading “Coming Home Again: Estrada Returns to Lead WeWork Labs in Houston”
Magnitude Software Takes $179M from Private Equity Firm 3i Group
Austin—[Updated 10:10 a.m. See below.] Magnitude Software is selling a $179 million stake in the company to London-based private equity firm 3i Group. Chris Ney, the founder, chairman, and CEO of Magnitude, is investing alongside 3i, the company announced. The company didn’t say whether the PE firm’s investment gave it a controlling interest. Magnitude said … Continue reading “Magnitude Software Takes $179M from Private Equity Firm 3i Group”
AmplifAI Raises $3.9M, Its First Outside Funding, For Call Center AI
Dallas—AmplifAI Solutions, which makes artificial intelligence-enabled software for call center operations, has raised $3.9 million. Investors in the funding round were Dallas-based Naya Ventures, and LiveOak Venture Partners and Capital Factory, both in Austin. AmplifAI has developed software that uses machine learning algorithms to analyze behaviors of top-performing employees in order to create training programs … Continue reading “AmplifAI Raises $3.9M, Its First Outside Funding, For Call Center AI”
The Role of the Student Engineer in Medicine and Innovation
The last 50 years have seen many great technical advances in medical treatments, ranging from drug delivery and imaging to skin grafts and prosthetics. These advances—both large and small—have drawn on many fields and have transformed patient care. When examining the current state of clinical technology, the focus is naturally on the technology and its … Continue reading “The Role of the Student Engineer in Medicine and Innovation”
JLabs’ Luby Takes the Reins at TMC Innovation Institute in Houston
Houston—Tom Luby, the head of JLabs in Houston, has been named the new director of the Texas Medical Center’s Innovation Institute, the center announced Monday morning. Luby takes over the innovation institute three months after former director Erik Halvorsen left the role. Luby is already a known presence around the TMC innovation building thanks to … Continue reading “JLabs’ Luby Takes the Reins at TMC Innovation Institute in Houston”
CesiumAstro, MAP Health, StoryFit, Hatch Pitch & More Texas Tech
[Updated 3/14/19, 1:53 pm CT. See below.] Another South By Southwest festival comes to a close in Austin. Let’s catch up with the highlights from the tech portion this year and other innovation news in Texas. —CesiumAstro, an Austin-based maker of antennas and communications systems for satellites, said it has raised $12.4 million in a Series … Continue reading “CesiumAstro, MAP Health, StoryFit, Hatch Pitch & More Texas Tech”
Bio Roundup: Golumbeski’s Legacy, CRISPR Moratorium, Rebate Week & More
While all eyes in the biopharmaceutical world are currently trained on Bristol-Myers Squibb’s proposal to buy Celgene for $74 billion, it wasn’t that long ago that another company’s gaze was fixed on the Summit, NJ, drug maker. In the early 2000s, before the FDA approved Celgene’s flagship multiple myeloma drug lenalidomide (Revlimid), Novartis (NYSE: [[ticker:NVS]] … Continue reading “Bio Roundup: Golumbeski’s Legacy, CRISPR Moratorium, Rebate Week & More”
Keen, a San Antonio SaaS Startup Owned by Scaleworks, Hires New CEO
San Antonio—Ben Kuhn has been promoted to become the CEO of Keen, a San Antonio startup that helps software developers with custom application programming interfaces for data collection and analytics. Kuhn was hired as the general manager of Keen in 2018, having previously worked at healthcare companies DaVita and Genentech. Most recently, he co-founded another … Continue reading “Keen, a San Antonio SaaS Startup Owned by Scaleworks, Hires New CEO”
Dallas’ ModeSens Aims to Build Online Shops Tailored to Each User
Dallas—Part of the challenge for e-commerce is finding ways to prevent shoppers from having buyer’s remorse. “You never want to have a customer who has a disgruntled post-purchase feeling,” says Krystle Craycraft, chief marketing officer at ModeSens, an e-commerce startup in Dallas. “We’re giving the consumer confidence to eliminate the need for a return.” Returns … Continue reading “Dallas’ ModeSens Aims to Build Online Shops Tailored to Each User”
The Investments Cisco, Samsung, Toyota, and Chevron Are Making in AI
Austin—If you’re a startup talking up your artificial intelligence chops in your venture capital pitch, you’re not alone. For Cisco Investments, the venture arm of tech giant Cisco, artificial intelligence is no longer one of the key trends to watch for during pitches in 2019. That’s according to Noah Yago, a director at Cisco Investments, … Continue reading “The Investments Cisco, Samsung, Toyota, and Chevron Are Making in AI”
Drug-Price Watchdog ICER Dives into Trump-Fueled Pharma Rebate Debate
[Updated 3/13/19, 12:20pm. See below.] With public and political winds blowing in the same direction, significant reform of the complicated U.S. drug-pricing system seems ever more likely. One part of the system that the Trump administration wants to overhaul are the secret rebates that drug makers, insurers, and middlemen negotiate behind closed doors. Replacements for … Continue reading “Drug-Price Watchdog ICER Dives into Trump-Fueled Pharma Rebate Debate”
EPIcenter Event to Showcase Innovations in Electricity Products
San Antonio—EPIcenter, a think tank that promotes the “new energy” sector and operates a startup incubator and other programs for businesses, is planning a half-day event highlighting electricity-focused tech companies. The summit will take place on June 19 and will include keynote speeches, panel discussions, and short product presentations by companies that use electricity in … Continue reading “EPIcenter Event to Showcase Innovations in Electricity Products”
The Life, Troubles, and Celgene Legacy of Deal Guru George Golumbeski
George Golumbeski is one of the most prolific dealmakers in the biopharmaceutical world. But the deal that changed his life is a pact he made with himself when he was ten years old. Playing with friends in front of his house in Hampton, VA, he watched his mother drag his dead-drunk father, a U.S. Air … Continue reading “The Life, Troubles, and Celgene Legacy of Deal Guru George Golumbeski”
TX Tech: ForeFlight to Boeing, Osano Debut, Saranas’ FDA Nod & More
Let’s catch up with the latest innovation news in Texas. —Boeing (NYSE: [[ticker:BE]]) has acquired Houston-based ForeFlight, a mobile and web-based maker of aviation software, according to a press release. Terms of the deal were not disclosed. ForeFlight had already been partnering with the Chicago-based aeronautical company for the past two years through Boeing’s subsidiary … Continue reading “TX Tech: ForeFlight to Boeing, Osano Debut, Saranas’ FDA Nod & More”
Bio Roundup: Gottlieb Exits, Bristol Defends, Biogen Buys & More
In early 2017, Scott Gottlieb was considered the most moderate of the potential candidates to head the Food and Drug Administration, which is the most powerful regulator of medical products in the world. It wasn’t a high bar to clear. Libertarians who had questioned some of the basic premises of the FDA were in the … Continue reading “Bio Roundup: Gottlieb Exits, Bristol Defends, Biogen Buys & More”
San Antonio Startup Cityflag Joins City-Focused Techstars Program
San Antonio—[Updated 3/8/19, 2:27 p.m. See below.] A San Antonio startup, Cityflag, is joining a new Techstars program in Amsterdam for businesses that focus on changing how “we live, work, and travel in cities.” Cityflag is one of ten startups that is taking part in the Arcadis City of 2030 Accelerator, which Techstars is running … Continue reading “San Antonio Startup Cityflag Joins City-Focused Techstars Program”
Steering Lyft’s IPO: What Investors Will Weigh During the Roadshow
Much has been said about Lyft’s early lead over Uber in the “horserace” to become the first ride-hailing app company to go public. But now that San Francisco-based Lyft has filed its 276-page IPO prospectus with the U.S. Securities and Exchange Commission, potential investors can focus on much more detailed considerations as they decide whether … Continue reading “Steering Lyft’s IPO: What Investors Will Weigh During the Roadshow”
Houston’s Alice Among Women-Led Startups Receiving Bumble Funding
Alice, a Houston-based digital community that connects women founders to resources tailored to their startup’s needs, has received funding from the Bumble Fund. The fund, which was launched last July by Bumble, a women-oriented dating app, did not specify the amount it invested in the startups. In a press release Thursday, the Austin company said … Continue reading “Houston’s Alice Among Women-Led Startups Receiving Bumble Funding”
Intel Reveals Ideas on Promoting AI in U.S. as Chinese Growth Looms
Even as the executive order President Trump issued last month on artificial intelligence furthered the conversation about a developing national strategy for the sector, it was met with certain criticism. A common complaint was that the plan won’t implement itself. “The administration’s American AI Initiative includes all of the right elements; the critical test will … Continue reading “Intel Reveals Ideas on Promoting AI in U.S. as Chinese Growth Looms”
Blue Squad Aims to Bring Election Tech Up and Down the Ballot
Austin—All politics is local, the adage goes, and those campaigns are sorely stuck in analog mode. That’s why Shion Deysarkar co-founded Blue Squad two years ago as a “digital coalition” to support progressive candidates by providing them with greater access to accurate voter data. Now, Blue Squad is more formally launching as a political tech startup … Continue reading “Blue Squad Aims to Bring Election Tech Up and Down the Ballot”
Two Years and Done: FDA Commissioner Gottlieb To Resign
Two months after insisting on Twitter that he wasn’t going anywhere, Food and Drug Administration Commissioner Scott Gottlieb announced his resignation today. He leaves a record of health and medical regulation that was more active than critics who spoke out against his nomination in early 2017 might have expected. Gottlieb’s remit extended beyond drugs, of … Continue reading “Two Years and Done: FDA Commissioner Gottlieb To Resign”
Angel Networks Most Active Texas Investors Since 2010, Report Says
Austin — Two angel networks in Texas have been the most active investors in the state since 2010. The Houston Angel Network leads the list with 145 investments during the past nine years, followed by the Central Texas Angel Network in Austin with 144 deals, according to data compiled by Seattle-based PitchBook. Capital Factory, which runs … Continue reading “Angel Networks Most Active Texas Investors Since 2010, Report Says”
Women Who Code in Houston, Sam’s Club, Springdale & More TX Tech
Let’s catch up with the latest innovation news in Texas. —Sam’s Club Now, the Dallas-based innovation center where Walmart’s bulk buying business is located, says it has a new scanning technology that can reduce checkout times. The technology, which uses computer vision and machine learning, will be piloted at the Sam’s Club Now store this … Continue reading “Women Who Code in Houston, Sam’s Club, Springdale & More TX Tech”
Retailers Turn to Analytics, 3D Tech to Promote Fit, Reduce Returns
One size fits most (at best), and a women’s sizing system created during the Depression doesn’t gibe in an e-commerce business that prizes personalization. That’s why startups are turning to new technologies like 3D scanning and machine learning software to produce customized clothing that can be made for the masses. “People want to buy a … Continue reading “Retailers Turn to Analytics, 3D Tech to Promote Fit, Reduce Returns”
Privacy Watch: FTC, Facebook, EU, the Cloud Act, & More CA bills
Privacy issues continued to boil to the surface in February. In part, it’s a reflection of the long tail of consequences that began in early 2018 when the broader public learned that Facebook had shared data from millions of user profiles with now-shuttered political marketing firm Cambridge Analytica. The consequences of that wider public awareness … Continue reading “Privacy Watch: FTC, Facebook, EU, the Cloud Act, & More CA bills”
SPECIAL REPORT: 2019 Biopharma Outlook – Facing an Uncertain Future
After years of boom times, the U.S. biopharmaceutical industry is dealing with unprecedented threats on several fronts: public backlash against high drug prices, slowing sales, and the possibility of more government regulation. In this Xconomy Special Report, our veteran biotech journalists Alex Lash and Ben Fidler bring you deep insights, based on conversations with key … Continue reading “SPECIAL REPORT: 2019 Biopharma Outlook – Facing an Uncertain Future”
Bio Roundup: Pharma in DC, Bristol-Cel in Trouble, Roche Gets A Spark
Could a shareholder revolt doom the planned marriage of Bristol-Myers Squibb and Celgene? Analysts have hinted at the possibility since the two companies shook hands in January, but the threat became real this week. Bristol (NYSE: [[ticker:BMY]]) and Celgene (NASDAQ: [[ticker:CELG]]) have campaignned heavily, starting with a joint presentation by their CEOs at the J.P. … Continue reading “Bio Roundup: Pharma in DC, Bristol-Cel in Trouble, Roche Gets A Spark”
Ex-Google CEO: New MIT College Could Help Shrink A.I. Talent Gap
Eric Schmidt believes we’re entering an era where artificial intelligence will underpin most facets of human life. But we don’t yet have enough people with the right skills to build that future. Schmidt, the former CEO of Google and former executive chairman of its parent company Alphabet (NASDAQ: [[ticker:GOOGL]]), argues that the A.I. talent shortage … Continue reading “Ex-Google CEO: New MIT College Could Help Shrink A.I. Talent Gap”
7 Tips for Biotech Companies Seeking Capital in a Volatile Market
Last year was a remarkable year for biotech companies going public. Not only did an unusually large number of biotech companies go public, but a significant number of early-stage biotech companies went public at premium valuations relative to their later-clinical stage peers. There were approximately 58 biotech IPOs in 2018 (excluding offerings with under $25 … Continue reading “7 Tips for Biotech Companies Seeking Capital in a Volatile Market”
Database Automation Software Maker Datical Adds $10M for New Hires
Austin—Datical, which sells software that automates the laborious process of manually updating a database during a software or application release, has added a $10 million Series C round of financing led by Cincinnati, OH-based River Cities Capital Funds. The Austin, TX-based company plans to use the funding to make new hires in research and development, … Continue reading “Database Automation Software Maker Datical Adds $10M for New Hires”
ATX Seed Ventures Raises Second Investment Fund of $32 Million
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”
Microsoft’s M12 Leads $21M Round for Spycloud’s Security Software
Austin—Spycloud, an Austin cybersecurity startup, has raised $21 million. The funding round was led by M12, the venture fund of tech company Microsoft (NASDAQ: [[ticker:MSFT]]). New investor Altos Ventures and existing investors Silverton Partners and March Capital Partners also participated. Spycloud, which was founded three years ago, makes software that prevents hackers from taking over … Continue reading “Microsoft’s M12 Leads $21M Round for Spycloud’s Security Software”
Walmart’s Store No 8 Acquires Aspectiva to Bring A.I. to Shopping
Walmart’s Store No 8 innovation arm has acquired an Israeli machine learning startup, the retail giant announced Wednesday. Aspectiva joined the two-year-old Store No 8 Monday, and its employees will remain in Tel Aviv. “Store No 8’s record of innovation and of developing capabilities that will transform retail as we know it makes for the … Continue reading “Walmart’s Store No 8 Acquires Aspectiva to Bring A.I. to Shopping”
Pharma CEOs to Senate: We Will Lower Drug Prices if Rebates Go Away
Seven top pharmaceutical executives gathered today in Washington, DC, for a Senate hearing on drug prices, bringing face-to-face two groups held in the lowest esteem possible by the American public. Top executives from seven companies—AbbVie, AstraZeneca, Bristol-Myers Squibb, Merck, Johnson & Johnson, Pfizer, and Sanofi, which represent a combined $1.1 trillion in market value—stuck to … Continue reading “Pharma CEOs to Senate: We Will Lower Drug Prices if Rebates Go Away”
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”
New Funds for ParkHub, Neighborhood Goods, Rabbet, & More TX Tech
Let’s catch up with the latest innovation news in Texas. —ParkHub, a Dallas startup that is digitizing how and when users pay for parking, raised $13 million in a Series B funding round, according to a press release. The investment round was led by Arrowroot Capital in Santa Monica, CA and is the first institutional money … Continue reading “New Funds for ParkHub, Neighborhood Goods, Rabbet, & More TX Tech”
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”
Bio Roundup: NASH News, Merck Strikes, Digital Tokens & More
The growing epidemic of the fatty liver disease known as NASH, which has no FDA-approved treatment, has led to a frenzied race among drug companies. This week, one company, Intercept Pharmaceuticals, solidified its lead. But how much will being first to the finish line mean when all is said and done? Intercept (NASDAQ: [[ticker:ICPT]]) reported … Continue reading “Bio Roundup: NASH News, Merck Strikes, Digital Tokens & More”
Spatial.ai’s Geosocial Datasets Capture a Community’s Personality
Even with all that we’ve learned since 2016 about weak protections on consumer data privacy in the United States, people still love social media and reveal a ton of personal information in the course of all that posting, sharing, and liking. The insights gleaned from the wealth of social media data are fueling a number … Continue reading “Spatial.ai’s Geosocial Datasets Capture a Community’s Personality”
Molecular Templates Appoints Roger Waltzman Chief Medical Officer
Roger Waltzman is now chief medical officer of Molecular Templates (NASDAQ: [[ticker:MTEM]]). Waltzman comes to the Austin, TX, cancer drug developer from Rgenix, where he was chief medical officer. Molecular Templates develops a class of drugs called engineered toxin bodies. The company’s lead drug candidate, MT-3724, is in Phase 1 testing as a treatment for … Continue reading “Molecular Templates Appoints Roger Waltzman Chief Medical Officer”
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”
Peloton Therapeutics Raises $150M to Advance Kidney Cancer Therapy
Dallas—Peloton Therapeutics, which is developing small molecule drugs to treat cancer, announced Wednesday that it has raised $150 million in a Series E funding round. The new financing was led by RA Capital Management and was joined by new investors, including Eventide Asset Management, Biotechnology Value Fund, OrbiMed, EcoR1 Capital, Vida Ventures, Curative Ventures, and … Continue reading “Peloton Therapeutics Raises $150M to Advance Kidney Cancer Therapy”
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””
Funds for Richard’s Rainwater, New CPRIT Executive, & More TX Tech
—Pinpoint, an Austin startup that makes analytics tool to measure software engineering’s contribution to businesses, has raised $13.5 million in a Series A funding round led by Bessemer Venture Partners. Other investors include Storm Ventures, Boldstart Ventures, Bloomberg Beta, Slack Fund, Social Capital, and Cherubic Ventures. The new money brings Pinpoint’s total funding to $16.5 million. … Continue reading “Funds for Richard’s Rainwater, New CPRIT Executive, & More TX Tech”
Google Confirms New Madison Office, Part of $13B National Expansion
Google confirmed this week that it will expand its satellite office in Madison, WI, as part of a $13 billion investment in data centers and offices nationwide in 2019. Xconomy reported Jan. 31 that the Bay Area tech giant intends to triple the size of its downtown Madison outpost by adding a second office, located … Continue reading “Google Confirms New Madison Office, Part of $13B National Expansion”
Bio Roundup: Trump’s Scalps, Policy Pressure, NASH Crash & More
While politicians continue to debate what kind of healthcare system is best for the American people, the mostly U.S.-based pharmaceutical industry is trying to convince those same politicians—and anyone else who will listen—that what’s good for the industry is also good for America. Forcing drug prices lower, industry argues, would be bad for our health, … Continue reading “Bio Roundup: Trump’s Scalps, Policy Pressure, NASH Crash & More”