Dallas startups had a strong start to the fourth quarter in turns of fundraising. From software companies to innovative credit apps, here are October’s six largest tech funding rounds in the DFW metro. Combined, these companies raised $98.2 million.
#6. $3.5 million, October 12
The Richardson-based startup emerged from stealth raising $3.5 million in a seed funding round that included participation from Perot Jain, a Dallas-Based VC firm with a focus on tech companies. Through its platform, CollateralEdge creates lending opportunities for small and midsize businesses to borrow capital from regional banks at lower rates. The new funds will be used to expand CollateralEdge’s platform to more banks and also to expand its team.
#5. $4.5 million, October 10
Backed by Mark Cuban and several VCs, Otto is building out an app that will change car title lending. Through its app, which will launch in early 2022, users will be able to open a credit line against their car titles, however, Otto will offer lower interest rates than traditional car title loans. In early October, the company announced it had secured $4.5 million in new funding, but did not state how it planned to use the funds.
#4. $11.7 million, October 25
Closing out the month strong, Sera Systems secured $11.7 million in a Series A funding round led by Southland Holdings. Based out of Grapevine, Sera’s platform allows for a more streamlined system to book and schedule technicians for different job sites. The company will use the new funding to grow its 16-person team to 60 in the next six months with a focus on hiring marketing professionals and backend engineers.
#3. $18.5 million, October 13
Earlier in October, AmplifAI announced the closing of an $18.5 million Series A funding round, including $12.5 million in equity funding and $6 million in venture debt. Launched in 2016, AmplifAI creates AI-integrated software that monitors workers’ performances and creates unique training courses using data to improve performance. AmplifAI’s software is used by The Home Depot, Samsung and GoDaddy. The Plano-based company will use the funds to make improvements to its software.
#1 (tied). $30 million, October 21
Stride, which has offices in Dallas, Boston and New York, offers students alternative solutions to fund their education. Through its platform, students can get access to flexible tuition payment plans. It can also connect students to different boot camps offered by universities. In October, the company announced it secured a $30 million investment from Silicon Valley Bank. Stride will use the new funds in collaboration with SV Academy, a tech sales fellowship program based in San Francisco, to help job seekers.
#1 (tied). $30 million, October 19
The software quality testing company generated $30 million in funding in a Series B round led by Red Dot Capital Partners. The fresh funding will be used to “dramatically accelerate SeaLights’ growth,” according to the company. Sealights offers multi-faceted software quality governance to companies looking to make changes or expand its current software.
