As we approach the end of the year, Austin tech startups kept busy opening new offices and closing funding rounds. Read up on Beamery’s $50 million raise and its plans to grow its Austin team or catch up on Dropit’s new local office. This is the Built In Austin Weekly Refresh.
Dropit opened an Austin office. Dropit is a U.K.-based company that helps brands optimize their operations and increase their revenue by unifying their inventories and distribution channels. The company opened an office in Austin after recently raising new funding. Dropit CRO Eric Abrahams will oversee the new office and the expansion of the company’s sales and client success talent. [Built In Austin]
More tech companies opened local offices. At least 11 tech companies opened new offices in Austin over the course of the year. In the last few months, health insurance provider Nomi Health, defense company BAE Systems and others opened new offices in Silicon Hills. Read our round-up to find out which other companies opened new offices in Austin. [Built In Austin]
Austin Tech Quote of the Week
Beamery raised $50M. Beamery is an artificial intelligence startup that helps companies recruit and train their workforce. In a round backed by Teachers’ Venture Growth, the company raised $50 million and reached a valuation of more than $1 billion. Beamery is headquartered in London but is growing its presence in Austin. [Built In Austin]
Elon Musk sold Tesla shares. Twitter and Tesla owner Elon Musk recently sold 22 million shares of Tesla raising $3.6 billion in funding. Musk did not publicly state the reason for the sale. According to CNN Business, the last time Musk sold off Tesla shares was after he agreed to purchase Twitter. [CNN Business]
The Built In Future 5 series featured five local startups. This quarter, Built In’s Future 5 series highlighted seed and pre-seed startups ranging from fintech and wedding platforms to pet tech companies. Read our Future 5 round-up to catch up on the Austin startups that are transforming the local tech landscape. [Built In Austin]
