Umbel of Austin Raises $20 Million

images1Umbel, which makes a customer data platform, announced it has raised $20 million in Series B financing led by Cielo Private Equity.

The Austin-based startup plans to use the funds to expand its sales and marketing efforts.

Lisa Harris, managing partner of Cielo Private Equity, has joined the company’s board of directors.

“We are incredibly excited to have this momentum boost. I have assembled the best leadership team in Austin and am confident that funding and the team combined will allow our business to accelerate and crack open new industries,” HO Maycotte, founder and CEO of Umbel, said in a news release.

“It is terrific to see new funding options in Austin and I am excited to partner with Cielo, as well as our existing investors, to build this city’s next breakout software company,” Tom Meredith, investor and board member at Umbel, said in a news release.

Umbel raised $3.7 million in Series A financing led by Austin Ventures in 2012. HO and Meredith Maycotte, Travis Turner and Nick Goggans founded the company in 2010. It recently moved into 20,000 square feet of new headquarters at the renovated Seaholm Power Plant downtown. It has 70 employees and has been doubling revenue every year, according to this Silicon Hills News profile on the company published last month.


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