Austin tech collectively raised over $71 million in August, spread across nine new fundings and one amended deal. This marks a $33 million increase over July’s $38 million and a bump in average deal size from $3 million in July to $7 million in August. Here are the top five rounds.
5. LVL Technologies, $6.7M, Aug. 11
Investors: Samsung Catalyst Fund with participation from Maxim Integrated Products
Bio: Formerly known as BSX Athletics, which launched in 2012, LVL Technologies develops sensor platforms for wearables that measure body vitals like hydration levels. Their first product was Insight, a non-invasive lactate threshold sensor that athletes wear around their calf muscle.
News: The funding will be used toward the manufacturing and production of a wrist monitor that measures hydration, heart rate and other key metrics called the LVL One.
4. Mangstor, $7M, Aug. 16
Investors: Six undisclosed investors
Bio: Mangstor, a startup launched in 2011, develops high-performance storage array and server storage access technology.
News: The round was made public following a filing through the SEC, and the company did not issue a statement on its close. But according to Mangstor’s website, a makeover is on the way, and the company is expanding with several open roles available. Since it launched, the company has raised over $24 million in capital.
3. Convey, $8.25M, Aug. 29
Investors: Techstars Venture Capital Fund, RPM Ventures
Bio: Convey’s end-to-end logistics platform provides insights that affect shipping outcomes for industries that include construction, medical devices and pharmaceuticals.
News: CEO Rob Taylor said they will use the Series B to expand the team in product development, engineering and customer success. The funding news comes at a time when the startup is experiencing exponential growth, reporting a 340 percent year-over-year increase in bookings.
2. Vyze, $13M, Aug. 10
Investors: Austin Ventures, Fathom Capital and Starvest Partners
Bio: Their multi-lender platform provides over 2,000 retailers with credit and loan options to offer their customers with higher credit approval rates.
News: Vyze’s August Series C round brings the startup’s total capital to over $48 million since its 2008 launch. This round will be used to add 20 people to the team in technology, sales, marketing, and research and innovation.
1. Pivot3, $22M, Aug. 24
Investors: 17 undisclosed investors
Bio: Launched in 2003, Pivot3 develops hyperconverged data storage platforms that operate multiple, mixed workloads on a single infrastructure. They serve industries including healthcare, government, transportation, security, entertainment, education, gaming and retail.
News: The most recent funding is an add-on to a previous $19.1 million round filed last year. Terms of the deal were not disclosed. Learn more about the technology behind Pivot3’s hardware and software platform from this interview with CTO Bill Galloway.
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