Hangar acquires Austin software company following last month's funding
Following October's $6.5 million funding round, Hangar announced that it has acquired Autoflight Logic LLC for an undisclosed amount. Autoflight Logic, another local startup, develops software that helps operate drones without the use of a remotes, preparing computer-generated flight paths ahead of launch. [Austin Business Journal]
Upland Software announces expanded credit facility up to $90M
Wells Fargo Capital Finance and CIT Bank will be the joint lead arrangers for Upland Software's $90 million expanded credit facility. With the borrowing capacity, Upland can continue acquiring new businesses, fund general corporate spend and refinance debt. Upland CEO Jack McDonald said the financing will be used to accelerate their acquisitions and continue to grow their cloud-based solutions. [Press Release]
Dallas-based app developer to open Austin office
SevenTablets will open an Austin office, adding to its Dallas headquarters founded in 2012. The company develops custom iOS and Android apps for B2B mobility solutions used across industries including health, banking, consumer and insurance. The Austin team will host positions in sales, marketing, mobile strategy, project management and support services. [Press Release]
7 Austin tech startups recognized on this year's Fast 500
Deloitte released the 2016 Technology Fast 500, an annual ranking of companies that yielded the highest percentage of fiscal growth between 2012 and 2015. This year's list featured seven companies from Austin. The list evaluates companies in North America that fall within the technology, media, telecommunications, life sciences and energy tech sectors. [Built In Austin]
Secretary of the Army announces Hack the Army program during Austin visit
Eric Fanning, the U.S. Secretary of the Army, visited Austin's Capital Factory on Friday to announce their Hack the Army program. The initiative invites hackers to find flaws and vulnerabilities in the army's digital recruiting platform. Only hackers thoroughly vetted will be invited to participate. HackerOne is partnering with the army to facilitate the project. [Wired]
Austin American-Statesman names over 30 tech startups to best workplace list
The Austin American-Statesman's annual list highlighting the top 100 workplaces in the city features 32 startups and tech companies from the area. Each year, the Statesman collects surveys completed by employees from participating companies based on what it's like to work there. [Austin American-Statesman]
Sailpoint names new CIO
On Wednesday, Sailpoint appointed Kevin Hansel as their new CIO to oversee their IT team and lead the company's global scaling efforts. Hansel joins the team with over 20 years of IT leadership experience. Most recently, he worked as executive director of IT at AT&T WiFi Services. His arrival at Sailpoint comes at a time when the company has reported 13 consecutive quarters of profitability for its identity governance platform. [Business Wire]
Fintech platform in stealth mode hires CFO
Newchip, an online investment marketplace startup currently in stealth mode, named finance expert Jason Schenker as CFO. Schenker has been recognized by Bloomberg News as number one in the world for forecast accuracy. The startup is set to officially launch in 2017 and will consolidate all equity investment platforms into one location. [Press Release]
Zenoss CMO wins CMO Club President’s Circle Award
Megan Lueders, CMO at Zenoss, won this year's CMO President's Circle Award from the CMO Club. The award recognized the senior marketing executive's dedication to building relationships with peer members in the CMO Club, collaborating with members and helping new CMOs benefit from the peer-based community. [Press Release]
Austin ranks number 4 for top U.S. cities for startups
Inc. 5000 released a ranking for the best cities in America to launch a startup based on annual gross revenue. Austin ranked number four behind L.A., Atlanta and New York City, which came in at number one. The chart also measured which sectors led the country in the most revenue. This year, financial services led compared to health last year. [Inc. 5000]
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