Austin tech companies are making big names for themselves with funding and new advancements. Catch up on the latest. This is the Built In Austin weekly refresh.
8fig gained $50M. The Austin-based company provides supply chain management tools for e-commerce sellers and recently completed a $50 million Series A funding round. The company was founded by supply chain experts and engineers who wanted to help e-commerce brands expand by using growth planning technology. The funding will help 8fig expand its lending capabilities and accelerate its growth. [Business Wire]
Ontic raised $40M. Ontic announced a Series B funding round of $40 million. The company has now raised nearly $58 million in total to date, including a $12 million Series A round in April 2020. Ontic is a cybersecurity company that uses data to analyze and detect potential threats. Companies use the platform to prevent insider threats, workplace violence and more. [Built In Austin]
AUSTIN TECH QUOTE OF THE WEEK
Steadily got $27.8M. The latest funding round was co-led by Matrix Partners and Zigg Capital. Steadily is an insurance agency for landlords that can give users quotes in minutes without an agent, but Steadily can call, text or email sales agents with additional questions. The company is planning to hire 25 people over the next year. [Built In Austin]
LiveOak gained $210M. LiveOak Venture Partners gained $210 million in an oversubscribed funding round. This raise is the company’s biggest yet and is also the largest Texas-focused, early-stage VC fund raised in the past decade. The VC firm plans to invest in more Texas-based startups following its latest funding round. Since 2012, LiveOak has invested in approximately 50 startups in Texas. [Built In Austin]
Pani brought in $2.3M. Pani, the Hindi word for “water,” works to bring flavor and nutritional supplements to water. Its main product is the Pani Source, which filters water and also adds minerals to it. The funding will be used to turn the prototype into a product. [Built In Austin]
Austin companies featured in Deloitte’s 2021 Technology Fast 500 list. Ten Austin businesses made the list for fastest-growing technology companies in North America. The report ranks companies based on their revenue growth over the past three years. Austin companies making this year’s list include Blue Prism, AlertMedia, OJO Labs, L7 Informatics and Shipwell. [Built In Austin]
Invicti got a new CEO. Invicti Security appointed Michael George as the new CEO. George will be taking over for Ferruh Mavituna, who will move onto the role of strategic advisor. Austin-based Invicti Security focuses on web application security. [PR Newswire]
