As fireworks went off across the Dallas–Fort Worth metro last month, local tech companies were busy raking in venture capital dollars. The five largest funding rounds in July totaled a collective $47.1 million, with the majority of funds going to fintech and proptech startups. Read on to find out which company raised the most capital last month and who has plans to hire.
#5. $4 million, July 11
The Dallas-based company aims to make small businesses less reliant on external engineers through its low-code platform that allows teams to monitor expenses and connect customers’ financial accounts to one platform. Quiltt’s seed funding round was co-led by Greycroft and Newark Venture Partners. The company also launched the beta version of its platform.
#4. $5 million, July 21
Beacon Technologies is an audio and visual communications software that offers encrypted and protected chats. The company also applies filters to all video streams to ensure crisp, beautiful videos, according to Beacon’s website. Led by 1414 Ventures of Boston, the $5 million funding round will fuel Beacon’s “explosive growth and help with ongoing hiring efforts,” according to a company statement. Beacon also intends to scale its software offerings and expand strategic partnerships.
#3. $8.1 million, July 27
Nada was founded in 2019 to allow retail investors to buy and sell home equity shares. The fintech company has a portfolio of single-family homes in seven cities, including Dallas and Austin, in which users can buy home equity shares for as little as $250. With $8.1 million in fresh funding from LiveOak Venture Partners, Nada intends to expand its products, launch a mobile app and develop a trading platform. It also plans to offer a real estate-backed debit card that would allow homeowners to cash out their home equity.
#2. $10 million, July 26
Enterprise web browser Island’s $10 million round was led by Cisco Investments. The fresh capital will be used to further the company’s mission of redefining the browser for enterprise users with its SaaS and web applications. This follows Island’s $115 million Series B back in March. The company says it has raised more than $200 million in funding and is now valued at more than $1.3 billion.
#1. $20 million, July 26
TestFit uses AI to help architects, real estate developers and urban planners configure and review development proposals. This helps people make less risky decisions about real estate projects, according to the company. The recent $20 million Series A was led by Parkway Venture Capital. TestFit plans to increase its employee headcount from 20 people to 45 or 50, with a focus on growing its engineering and product teams.