Austin’s tech scene is continuing to grow and expand following last month’s funding announcements. In fact, five local tech companies raised a combined $400 million in November and several have plans to hire.
#5. $40 million, November 16
Ontic is a security company that uses data to analyze, detect and mitigate potential threats in the workplace. The company landed $40 million in a Series B round that will go toward hiring, expanding into new markets and establishing new partnerships.
#4. $50 million, November 18
8fig provides e-commerce businesses with flexible funding and supply chain management tools to better manage their supply chains and bring in more income. The $50 million Series A funding round will be used to expand its lending capabilities and accelerate growth.
#2 (tied). $55 million, November 22
Royal is a platform that sells music royalties as NFTs, helping emerging artists gain more revenue instead of relying solely on concerts and merchandise. Royal raised $55 million in Series A funding led by Andreessen Horowitz with additional participation from Nas, The Chainsmokers and Disclosure. This round comes three months after the company raised $16 million in seed funding.
#2 (tied). $55 million, November 18
The Amazon aggregator had a big month having raised $55 million in equity funding in addition to opening a new office space in Austin. Elevate Brands’ workforce has grown from 15 to 20 employees at the beginning of this year, and now it employs 152 people. The company expects to have nearly 200 employees by the end of the year.
#1. $200 million, November 9
The Series C funding round makes ZenBusiness the latest tech unicorn in Austin. ZenBusiness helps entrepreneurs by providing step-by-step directions for creating an LLC, running a business and taking it to the next level. With a $1.7 billion valuation, the company plans to continue improving its platform and accelerating its embedded fintech capabilities through new product features that help customers manage their finances.
