Expect some big moves from Austin companies, thanks to fresh funding across several startup verticals. Here are the five biggest funding wins from Austin’s startup scene this September.
#5, $6 million, September 10
What they do: Realized is an online marketplace for property investors looking to complete a 1031 Exchange, which allows them to defer capital gains taxes on the sale of a property if they invest the proceeds in another similar property within a certain amount of time.
The funding: The round was led by Los Angeles-based Calibrate Ventures. Minneapolis-based Rice Park Capital also participated. Realized will use the investment to expand its team and enhance its platform’s technology.
#4, $10.5 million, September 26
What they do: Fetch is a concierge package service that coordinates with apartment residents to deliver straight to their doors — at a convenient time. This helps property managers and their teams eliminate the hours spent collecting, storing and distributing residents’ packages. (As you may guess, the e-commerce craze has led to piles and piles of parcels in apartment building lobbies.)
The funding: Fetch will launch in Charlotte, North Carolina; Washington, D.C. and Portland, Oregon by the end of the year, and plans to add 10 to 15 more markets around the end of 2020, founder and CEO Michael Patton told Built In.
#2, $15 million, September 18
What they do: Tethr uses AI to analyze recordings of conversations with customers and find ways to improve customer experience, retention and sales.
The funding: Tethr will use the funding to invest in sales and marketing, the company said in a statement. After this latest round, the company named early Tethr investor and COO Gary Clark as CEO.
#2, $15 million, September 25
What they do: ZenBusiness is an online platform that helps entrepreneurs get off the ground by providing helpful services like securing an Employer Identification Number or setting up a business website.
The funding: This investment will let ZenBusiness assist more founders and add more features to its platform. According to the company, by 2023 it will have helped launch one million businesses.
#1, $17 million, September 20
What they do: Smarter Sorting’s platform helps retailers, manufacturers and transportation companies reduce waste by tracking compliance with regulated waste legislation across different states. It also helps companies extend product life by reporting on opportunities to donate or recycle.
The funding: Smarter Sorting is building an AI-driven, searchable database that will break down the chemical composition of consumer goods at a granular level. The company is hiring engineers and data scientists in the next six months to build the database, which eventually will help companies stay compliant and consumers hold businesses accountable — it may even curb animal testing.
