Austin continues to be a boomtown for tech as companies across the board secured millions in fresh funding last month. These top five companies raised a total of $788 million in October, topping September’s total by nearly $300 million. Find out how these businesses are setting up for success.
#5. $25 Million, October 19
Gotransverse offers a cloud-based software that allows companies to operate as a subscription business model. The company’s latest funding round from German private equity investors will be used to expand globally and increase marketing and sales efforts.
#4. $35 million, October 6
The Austin-based company uses sensors and artificial intelligence to understand and fix problems in municipal water systems. Olea Edge’s Series C round was led by Insight Partners and will be used to expand its artificial intelligence. The company currently has 50 employees and expects to reach 100 to 125 by the end of 2022.
#3. $50 million, October 20
UpEquity is looking to change the housing market by automating mortgage underwriting, which allows companies to offer competitive rates by cutting extra costs and the ability to make a cash offer. The company landed $50 million in Series A funding to continue its efforts.
#2. $53 million, October 13
The company is an operator of Amazon third-party businesses and aims to acquire more e-commerce businesses with its latest funding. The equity and debt funding was provided by Atalaya Capital Management LP.
#1. $625 million, October 20
Invict Security, a cybersecurity company composed of Acunetix and Netsparker, raised a whopping $625 million in an investment round led by Summit Partners. The fresh funding will be used towards expanding internationally with plans to increase its 350-person team to 500 employees by the end of 2022.
