Exotec Raised $335M, Fusion Connect Got $55M, and More Atlanta Tech News

Catch up on the latest developments from the Atlanta tech sector.

Written by Ashley Bowden
Published on Jan. 24, 2022
Exotec Raised $335M, Fusion Connect Got $55M, and More Atlanta Tech News
Photo: Exotec / Facebook

The Atlanta tech scene is no stranger to expansion. Several companies made a splash last week with fresh funding deals as the city’s supply of venture capital continues to grow. Check out what ideas are coming to life with the new investments. This is the Built In Atlanta weekly refresh. 

Exotec pulled in $335M. Using robotics to increase speed and flexibility in warehouses, Exotec secured Series D funding led by Goldman Sachs at a $2 billion valuation. Currently with $446 million in total funding, the new capital enables the unicorn to launch more deployments of its machines worldwide, as well as expand its team. The company plans to double its 300-person headcount this year. [Built In Atlanta]

Fusion Connect raised $55M. The company provides enterprises with integrated cloud solutions to facilitate more efficient workforce collaboration and simplified network management. Alongside its equity funding, Fusion Connect refinanced a $60 million credit facility, both of which were led by Morgan Stanley Private Credit, Ellington Management Group and Investcorp Credit Management BDC. The money will enable the company to fully pursue its long-term growth strategy. [Atlanta Business Chronicle]

Atlanta Tech Quote of the Week

“It’s been really challenging for them, [small and medium businesses]. It’s a tough labor market, it’s tough to break through clutter with people who are trying to homeschool their children. And so this ensures that when they go to invest to drive leads into their business that they’re using the money the best way they can and reaching customers the most efficient way possible.”—Marc Ginsberg, CEO of CallRail

CallRail helps SMBs enhance their marketing strategies. By keeping track of where a business’s calls come from and learning exactly why a person is reaching out to them, CallRail gives SMBs the tools they need to respond and turn leads into customers. Founded in 2011, the company has grown to serve over 200,000 businesses across the globe. It plans to hire product and engineering talent and increase its 300-person team by 25 percent by 2023. [Built In Atlanta]

SteelSky Ventures relocated to Atlanta. Venture capital firm SteelSky was established by a woman with women in mind. The firm moved to Atlanta from the Big Apple with a total of $50 million to invest in women’s healthcare startups. Adding a new source of local capital to the city, SteelSky mainly invests in seed and Series A rounds and has 14 companies around the world in its portfolio to date. [Atlanta Inno]

The Purple Guys acquired Technology Pointe. More SMBs are focusing on IT management as their resources are experiencing heightened complexity and security concerns. Specializing in this space, The Purple Guys made its fourth acquisition to build out its solutions portfolio. By adding Austin-based Technology Point to its ranks, the company will be able to expand into Texas and better support a growing customer base. [The Purple Guys]

VC deals in Georgia doubled in 2021. The Peach State had a record-breaking year in 2021 with startups raising $4 billion in venture capital, twice the amount they did in 2020. As more funding has become available on the scene, Georgia has continued to see an upward trend in statewide funding totals. The majority of deals are happening within the Atlanta market which gained 17 new VC funds last year. [Atlanta Inno]

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