From cybersecurity to startups focused on artificial intelligence, many companies kicked off Q4 by raising new capital. Austin’s five largest tech funding rounds in October totaled $210 million, up from the $178 million raised in September. In addition to raising capital, some companies announced new platforms and one became a tech unicorn. Catch up on Jasper’s $1 billion-plus valuation update and read up on the tech companies that raised the most money in October.
Largest Austin Tech Funding Rounds, October 2022
- Jasper
- SubjectWell
- Flueid
- Fox Robotics
- Spyderbat
#5. Spyderbat: $10 million, October 25
Spyderbat’s platform helps protect companies from security threats that may arise from cloud-based applications by detecting and blocking security intrusions. Last month the company raised $10 million in a Series A round led by NTTVC. Along with the funding, Spyderbat also launched an open-source security platform.
#3 (tied). Fox Robotics: $20 million, October 27
Fox Robotics develops and manufactures autonomous forklifts used in shipping warehouses. The company’s forklifts come equipped with cameras and deep-learning tech that can sense objects and evade them. The $20 million round led by BMW i Ventures will be used to equip more warehouses with Fox Robotics’ forklifts. Since launching in 2018, Fox Robotics has raised $33 million in funding, according to Crunchbase.
#3 (tied). Flueid: $20 million, October 11
Flueid is a proptech startup that helps mortgage companies and underwriters access data before approving loans or investing in properties. The Austin-based company has grown immensely in popularity and raised $20 million in a Series B round to further capitalize on its recent growth. The new funding will be used to continue developing its platform. It also plans to develop new products for clients across multiple verticals.
#2. SubjectWell: $35 million, October 20
SubjectWell raised $35 million in a Series B round led by Asset Management Ventures. The healthtech platform helps pharmaceutical companies find patients for clinical trials by placing digital ads in front of millions of people. It also helps chronically ill patients get access to care. With the new funding, SubjectWell will work with more pharmaceutical companies and advance its cancer research.
#1. Jasper: $125 million, October 18
Topping the list for most money raised in October is Jasper, a generative artificial intelligence startup that raised $125 million in a Series A round and became a tech unicorn with a $1.5 billion valuation. Jasper’s AI platform generates text based on short prompts and can be useful for writing company profiles, SEO titles, product descriptions and much more. With the new funding, Jasper looks to bring in new talent to its marketing, sales and engineering teams.
