Over the course of March, VC funding in Austin tech took a bit of a dive, bringing in $30 million less as a community than in February. However, 12 venture deals were secured by our tech companies, which collectively totaled more than $45 million. Here are the top five rounds of March.
5. Khorus Software, $2.6 million, March 3
Investors: 9 undisclosed investors
Bio: Khorus's predictive enterprise leadership solutions help CEOs communicate strategic business plans while staying current on various projects across departments.
News: Chris Palmisano, Khorus's VP of sales and marketing, told Built In Austin that the funding will be used specifically for strengthening the company's sales, marketing, customer success and Khorus Certified Consulting operations.
4. Message.io, $2.9 million, March 2
Investors: 16 previous investors
Bio: Bots are taking over. To help developers reach multiple platforms without having to rebuild their bots for each additional channel, Message.io created a translation service. Now, developers can use Message.io's platform to quickly deploy their systems across new channels.
News: By the end of December, Message.io had secured a venture investment totaling $5.3 million, which included capital from some key backers like Microsoft. This past March, they added an additional $2.9 million to their previous round, bringing their total capital raised to date to more than $8 million.
3. DrillingInfo, March 20, $4.6 M
Investors: 16 previous investors
Bio: DrillingInfo's analytical software supports over 3,200 companies across the globe in the gas and oil industry, offering predictive and prescriptive feedback for the energy exploration and production process.
News: This $4.6 million was tacked on to DrillingInfo's most recent round — some $14.2 million which had originally been raised in March of 2015. In total, the company has raised nearly $200 million, making it the most well-funded startup in the state of Texas.
2. Mythic, $9M, March 22
Investors: DFJ
Bio: Mythic's hardware and software help almost any device gain AI capabilities. Their solutions pull data from local AI sources, helping to avoid the need for the cloud-based solutions other AI products require. The result is an energy-efficient and secure device on an untethered network.
News: Following the Series A round of financing, Mythic rebranded from Isocline. With the new funding, the company plans to expand its engineering operations and prep for a product to market launch.
1. Turnkey Vacation Rentals, $21M, March 9
Investors: Adams Street Partners, Atlos Ventures, Silverton Partners and travel industry angels
Bio: Turnkey Vacation Rentals' full-service solutions help property owners attract renters, while also providing management tools to help coordinate things like housekeeping, maintenance and inspections.
News: Turnkey reported that it will use the funding from this Series C to launch into new markets, double the number of rentals available, further develop its platform and plant local offices in their most-trafficked cities.
Images via featured companies and Shutterstock.
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