PadSplit Secured $20.5M, 7th Ave Got $2.5M, and More Atlanta Tech News

Catch up on the latest developments on the Atlanta tech scene.

Written by Ashley Bowden
Published on Nov. 08, 2021
PadSplit Secured $20.5M, 7th Ave Got $2.5M, and More Atlanta Tech News
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From fresh funding rounds to innovative acquisitions, companies on the Atlanta tech scene are building out solutions to power the future. Read more to learn about these companies’ latest moves. This is the Built In Atlanta weekly refresh. 

PadSplit raised $20.5M. With a goal to expand affordable housing options across the country, PadSplit pulled in fresh funding for its marketplace platform. The company rents fully furnished properties to members who pay a weekly bill that includes utilities. PadSplit is investing its new capital in growing its number of units across states with a focus in Texas and Florida. To date, the company has provided homes to over 4,800 people. [Built In Atlanta]

Mailchimp’s acquisition by Intuit closed. Fintech platform Intuit announced completed the acquisition of email marketing company Mailchimp. The deal went through for $5.7 billion in cash as well as $6.3 billion in stock value. With the acquisition, Mailchimp’s technology will be integrated into Intuit’s QuickBooks product as the companies work together to create an end-to-end customer growth platform for SMBs. [Business Wire]

Atlanta Tech Quote of the Week

“We believe home is a state of mind, one that starts within us. Home can take on many definitions, but one constant remains: Home is the place that you can authentically be yourself. We want to create the space for our community to feel seen and heard. Our mission is to ensure no matter where we are physically on this earth, that we always feel like we have a place to call home.”— Diaundra Jones, co-founder of 7th Ave

7th Ave raised $2.5M. On a mission to unite members of the Black community with its audio-based knowledge sharing platform, 7th Ave pulled in a fresh injection of capital led by MaC Venture Capital. With the app, users can create profiles that showcase their interests and facilitate public discussions. The seed funding round for the mobile app followed the platform’s launch on the Apple App Store. [Built In Atlanta]

Platinum Circle Group was acquired by Transportation Insight. Alpharetta-based Platinum Circle Group offers shippers tools that help optimize their transportation spend with data analytics, visualization tech, freight management and more. Transportation Insight provides enterprise logistics and freight brokerage solutions. By joining forces, the companies will leverage technology to allow customers to manage their shipping performance and product margin in real time from a central platform. [Business Wire]

Several Atlanta-based companies were acquired this year. Last year, venture capital fundraising hit a lull amid the pandemic. This year, however, several businesses sought out different avenues of growth, mainly through M&A. A range of companies headquartered in Atlanta were acquired in 2021, spanning industries from fintech and logistics to edtech and security. The Atlanta tech scene is fueling tech innovation for companies across the country. [Built In Atlanta]

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