Category: Austin (Page 182 of 318)

Upland Software Names Tim Mattox as its New President

Upland Software LogoUpland Software, a cloud-based software maker, Wednesday announced the promotion of Tim Mattox to president.

Mattox previously served as the company’s chief operating officer. He will retain that role along with assuming the duties of the president focused on customer experience strategy and vision.

“With his in depth corporate strategy and operations expertise, Tim has been instrumental in establishing systems and processes that are creating a solid foundation for our company growth,” Jack McDonald, Chairman and CEO of Upland Software said in a news release. “As Upland continues expanding, I am excited that Tim will be focused on our customers receiving the utmost quality, value and service from their investments in Upland’s offerings.”

Mattox joined Upland last year. Before that, he worked at Dell for about 15 years as an executive focused on strategy, operations and marketing.

Mattox holds BS/MS degrees in electrical engineering and computer science from MIT and an MBA from Stanford’s Graduate School of Business.

“Upland has the people and technology to create and deliver significant value to our customers,” Tim Mattox, President and COO of Upland Software said in a news release. “I look forward to extending our commitment to customer success by making sure every organization and individual partnering with Upland has a positive and rewarding experience.”

Volusion Gets $55 Million in Venture Capital

gI_102581_Funding Blog AnnounceVolusion, which makes e-commerce software, has received $55 million in venture capital led by Main Street Capital Corp.

The Austin-based company plans to use the money to further develop its enterprise platform, Mozu, and its small to medium sized business platform, Volusion.

“Supporting Volusion’s vision as they generate significant growth with the Mozu platform is a natural fit for us,” Dwayne Hyzak, Chief Operating Officer and Senior Managing Director of Main Street Capital Corporation said in a news release.
“Not only do we look forward to Mozu creating even more waves in the enterprise ecommerce space, but we are very excited about the opportunity to expand Volusion’s proven model of success and profitability.”

Volusion released Mozu last year and reported it has quickly gained customers.

“Mozu’s first year went better than any of us could have anticipated and this round of funding will be instrumental in fanning the fire of Mozu altering the enterprise space,” Clay Olivier, CEO of Volusion said in a news release.

“This funding is a major milestone in taking our organization to the next level as we move toward an IPO,” Olivier said.

Silicon Labs Buys Bluegiga in Finland for $61 Million

imgres-9Silicon Labs announced Wednesday its acquisition of Bluegiga Technologies Oy, based in Finland, for $61 million in cash.

The Austin-based company reported the acquisition expands its wireless hardware and software solutions for the Internet of Things marketplace.

Bluegiga makes wireless products such as ultra-low power Bluetooth Smart, Bluetooth Classic and Wi-Fi modules as well as software products.

“With Silicon Labs’ wireless, microcontroller and sensor portfolios gaining considerable traction in the IoT markets, the timing of this acquisition couldn’t be better,” Tyson Tuttle, CEO of Silicon Labs said in a news release.

Silicon Labs plans to continue operations in Finland.

Civitas Learning Lands $16 Million in Venture Capital

imgres-8Civitas Learning, a three year old education technology startup, announced Tuesday it has secured $16 million in funding.

Rethink Education led the investment with additional funding from existing investors Austin Ventures and Emergence Capital. To date, the company has raised $32 million in four rounds from seven investors, according to its Crunchbase profile.

Civitas, which has 100 employees, plans to use the funds to continue to grow its business. Recent customers include Texas A&M University, University of Washington, The University of Texas at Austin and Florida International University. “Civitas Learning currently manages data across hundreds of campuses, helping more than 2.3 million students navigate the complex journey through college,” according to a news release.

Civitas has created an online platform that provides data and data analysis to students, faculty, advisors and administrators. The software can help a student develop personalized major and course recommendations or help faculty and advisors identify students in need of help.

“Civitas Learning’s intense focus on quantifying its impact on student success rates is a breath of fresh air for the education sector, and continues to produce remarkable results,” Rick Segal, Managing Director of Rethink Education said in a news release. “Their unique approach to working in close collaboration with higher education institutions and building a community of thought leaders is very powerful. The company and its partner institutions are truly bringing actionable data science to the front lines of education.”

A New Program Launches in Austin for Black and Latino Tech Entrepreneurs

CODE2040 LOGOCODE2040 has partnered with Google for Entrepreneurs to launch an Entrepreneur in Residence program aimed at fostering diversity with local tech startups.

The program is aimed at “boosting the pipeline of Black and Latino/a entrepreneurial talent and creating diverse tech ecosystems in select locations around the country,” according to a news release.

THe program called CODE2020 Residency is working with Capital Factory in Austin and two other tech hubs, 1871 in Chicago and American Underground in Durham.

“The EIR will receive a year of support through CODE2040 and Google for Entrepreneurs’ NextWave campaign,” according to a news release. “Our aim is to help the selected EIR grow a sustainable business that will impact the local economy while also assisting him or her to create programming designed to build a stronger and more diverse local entrepreneurial ecosystem.”

Every person selected for the program in Austin will receive $40,000 in seed capital, workspace at Capital Factory and a trip to the Googleplex in Silicon Valley for training, networking and mentoring programs.

To qualify, applications must be Black or Latino/a, be a resident of Austin or relocate there, be a founder of an early stage tech venture and be committed to impacting the racial, ethnic, and gender makeup of their local tech sector.

Applications will be accepted until Feb. 17th.

How Texas Startups Are Spurring Innovation in the Most Entrenched Industries

Keith Cole, photo courtesy of Water Lens

Keith Cole, photo courtesy of Water Lens

By KEITH H. COLE
Founder and CEO of Water Lens in Austin
Special Editorial Contribution to Silicon Hills News

Being a startup isn’t easy to begin with, but working in a highly-regulated industry like oil and gas can be even harder, especially when it’s also slow to adopt new technologies. We all know the challenges—navigating bureaucratic red tape, getting your product in front of the right people in an extremely competitive industry, and making sure you have the financial runway needed to stay in business over the long-term. These kinds of deals don’t happen overnight, and being in a position to keep the lights on—let alone try to grow—is sometimes the biggest challenge.

When people hear the word “startup,” they typically think of the next social media, dating or food delivery app. But here in Texas, there’s a growing community of entrepreneurs focused on disrupting major industries, tackling big, previously intractable problems, and developing inventive solutions that can spur innovation for the 21st Century.

It wasn’t until the startup incubator 1776 partnered with Austin’s Capital Factory for last year’s Challenge Cup that I realized exactly how many of us there are—and how important it is for us to have resources like 1776 to help us navigate regulations and red tape.

As a veteran of the Texas oil and gas industry, I’ve always looked for opportunities to utilize the benefits of technology and work to make our efforts more efficient.

In 2011, as fracking became increasingly widespread—and yes, controversial—there was an opportunity in the market to develop a new technology that would help oil and gas companies operate more efficiently, improve their bottom line, reduce the amount of unnecessary chemicals used in hydraulic fracturing, and begin to cost-effectively recycle the water used and produced in the oil and gas industry. In short, it was a win-win proposition.

In 2012, I started a company called Water Lens and developed a state-of-the-art, portable, and easy-to-use water testing system that provides accurate, immediate onsite testing results for drilling fluids and frac water in a matter of minutes. This helps oil and gas companies save costs and improve production, but it can also offer consumers additional peace of mind to know that the industry is doing its best to reduce the amount of chemicals used in the process, and is now able to cost-effectively recycle our most precious resource: water.

By 2014, Water Lens was ready to go to market, but in order to penetrate the various state markets, we needed to navigate complex thickets of regulation to grow and scale.

That’s when I heard about 1776, a global incubator and seed fund in Washington D.C. that gives problem-solving startups like mine—startups working to disrupt entrenched industries in sectors like energy, education, health, and transportation—the resources they need to succeed.

What makes 1776 different is that it’s not just about funding—though, like any other startup, we always need additional funding. It was about a special set of expertise and connections that can make the difference between a great idea and a successful one.

These connections proved invaluable as we sought to expand our reach, navigate regulation, cut red tape, and find new investors. Thanks to our relationship with 1776, we have been introduced to key mentors and regulators—including former White House officials, advisors to the U.S. Chamber of Commerce, and key oil and gas industry experts.

Every year, 1776 runs an international competition called the Challenge Cup, which spans 16 cities in 11 countries to identify and bring together the world’s most promising startups working to develop innovative solutions to really difficult challenges.

While Water Lens was honored to win top American honors in the energy category at last year’s Global Finals, we also gained significant exposure to mentors, policymakers, and potential investors just by participating in the Austin and D.C. events.

Last year, seven Austin startups across all four categories made it to the Global Finals of the Challenge Cup, proving that there’s clearly something special going on in Austin’s tech scene. This year, Challenge Cup 2015 is coming back to Austin on February 5th.

The competition is a great reminder that Austin and Texas are producing some of the world’s most promising, problem-solving entrepreneurs—and when we give startups the tools they need to cut red tape and succeed, we can solve really important problems. This year’s Challenge Cup could be the key that unlocks a host of opportunities for Texas’ next world-changing startup.

Keith Cole is founder and CEO of Water Lens, LLC

Austin to Encourage Space Entrepreneurship

By Susan Lahey
Reporter with Silicon Hills news

20150128_123514One of Austin’s tactics for keeping the city’s economy growing is to build on space technology, said Gene Austin, President and CEO of the Austin Chamber of Commerce and CEO of Bazaarvoice. Speaking at the organization’s annual meeting, Austin said that Opportunity Austin, the chamber’s five-county economic development initiative would focus on Space Technology and Exploration as an area for growth.

“There are about 30 space startups every year and Austin is already home to seven,” Austin said. Opportunity Austin will encourage midsized companies in the fast-growing space technology and exploration category to make Austin their central Texas home. This includes companies involved with satellites, launch software and robotics.

To facilitate talent in the area, UT will offer a master’s in Space Entrepreneurship starting in 2015.

Austin’s announcement was made at the 137th Annual Meeting and Luncheon at the Hilton Wednesday which had a sold out crowd of about 850 people. He said the chamber is concerned with what he fears to be complacency on the part of the city, believing that companies will continue to move to Austin without the city having to continue to earn its popularity. After the dot.com bubble burst around 2000, he said, Austin was the last major metropolitan area to recover. The city’s economic development forces worked hard to ensure that Austin would never again have so many eggs in one basket again. But recent policy amendments at the city might create paperwork and bureaucratic processes that will hinder companies from moving to Austin.

Prior to Austin’s speech, the Chamber gave out awards for its volunteers of the year, including 2014 Volunteer of the Year for Technology and Innovation to Bob Metcalfe for his contributions in linking industry and academics around entrepreneurism and innovation.

Former Mayor Lee Leffingwell was named Austinite of the Year and was honored with a film that interviewed several local dignitaries including Texas Senator Kirk Watson and featured Leffingwell’s famous video singing in the shower.

SpareFoot Wins Austin Startup Games Again

IMG_5037_2SpareFoot won the Austin Startup Games for the third year in a row.

The Austin-based startup, which bills itself as the nation’s largest marketplace for finding and booking self-storage, had a ringer this year.

The company recruited Icelandic strongman “Thor” Bjornsson to join the company as its senior vice president of Icelandic business.

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Bjornsson, known as “The Mountain” on HBO’s Game of Thrones series, battled numerous contestants in the surprise “jousting” competition. In reality, Bjornsson didn’t really join SpareFoot but put in a celebrity appearance and took numerous photos with contestants and fans. He also bench-pressed quite a few people.

SpareFoot won fair and square on its team’s abilities to compete in sports including foosball, darts, shuffleboard, Pop-a-shot, beerpong, flip cup, connect four and trivia.

More than 1,000 people attended this year’s event held at Vintage Innovation’s Innovation Station on Saturday, said Gillian Wilson, the game’s president and founder. The game organizers also collected boxes of canned goods to donate to the Austin Food Bank. The event raised $50,000 for various charities chosen by the startup teams, she said.

SpareFoot received $19,000 for its charity Kure It, second place winner, Boundless Network got $12,000 for Meals on Wheels and third place winner Home Improvement Leads received $7,000 for Wikipedia. Each team got $1,000 for its charity just for participating.

“Startup Games is a day of fun and philanthropy,” Wilson said. “Today, we had 15 different companies come out to play games and let their hair down. These are the best of the best of each company as athletes. Each team chooses a charity to play for.”

In four years, the Austin Startup Games has donated $155,000 to charities, Wilson said.

Capital Factory competed in the Austin Startup Games for the third year in a row. Its team included startups that are too small to have their own team, said Joshua Baer, founder of Capital Factory. The games bring together technology startups from all over Austin.

“This helps build company culture and helps the teams work better together,” Baer said. “At the same time, it’s raising money for charity.”

The games also increase the visibility of the startup community in Austin, Baer said.

“One of the things it does for the startup community is this how people know there is a startup community,” Baer said. “This is it. You can see it. You can see the excitement of it.”

Baer also competed in a new event this year called “Liar’s Dice.” It was just for the CEOs of the startups.
IMG_4981
“This is the fourth time we’re doing it in Austin,” Baer said. “But we’re expanding this year to other cities nationwide.”

The next event the Startup Games is having is in Austin in April for larger tech companies that are no longer startups. Those games will include Spredfast, BuildASign, MapMyFitness and other larger companies, she said.

The Startup Games is also looking to expand to Chicago and Boulder, Colorado, Wilson said.

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The other startup teams and their charities:

 ATX Seed Ventures – Charity: The Bunker, Austin

 Buzz Points – Charity: Wounded Warrior Project

 Capital Factory – Charity: Breakthrough Austin

 Civitas Learning – Charity: Center for Child Protection

 Headspring – Charity: Lifeworks

 OneSpot – Charity: Urban Roots

 OutboundEngine – Charity: Safe Place

 RideScout – Charity: Team Red, White & Blue

 theCHIVE – Charity: Chive Charities

 TrendKite – Charity: Toast the Cure

 uShip – Charity: Communities In Schools

 WP Engine – Charity: Austin Pets Alive

XOR Data Exchange Lands $1.8 Million in Funding

logo-1XOR Data Exchange, a permission-based data exchange in Austin, announced this week it has closed on $1.8 million in funding.

Chicago Ventures and KBC Capital led the round.

In addition, Norm Willox, who previously founded and built the risk management and fraud analytic business for Lexis Nexis and now serves as founder and CEO of Bluewater International, will join the company’s board of directors.

XOR plans to use the funds to hire technical and analytics experts and to scale its hardware infrastructure to keep pace with customer demand. The company has 10 employees but plans to double in size by the end of the year, according to a spokeswoman.

The company’s customers are in the financial services, telecommunications and other industries seeking to monetize their data, according to Mike Cook, founder and CEO of XOR Data Exchange. The company’s data exchanges lets its customers have control over what types of data can be accessed and shared. It also provides an audit trail that shows how the data is being used.

Cook founded XOR Exchange in 2014. Cook previously co-founded ID Analytics, which he built to 5 million customers. He was also a member of the executive team that developed Consumer Credit Associates, now known as Innovis. He has also held senior management roles with Experian, Early Warning Services and American Express.

Hack Reactor Buys MakerSquare in Austin

imgres-7Hack Reactor, a computer programming bootcamp, announced this week it has bought MakerSquare, a two-year old coding school with campuses in Austin and San Francisco.

Hack Reactor, based in San Francisco, did not release the terms of the deal. It’s the two-year-old company’s first acquisition. Hack Reactor plans to continue to operate MakerSquare independently and those campuses will adopt Hack Reactor’s JavaScript programming curriculum.

“Coding bootcamps were estimated at $59 million total gross revenue for 2014 and that number will continue to rise,” Hack Reactor CEO Anthony Phillips said in a news release. “We’re collecting the best minds in the accelerated learning sector, and we’re proud to have MakerSquare on our team. MakerSquare and Hack Reactor are both leaders in terms of student outcomes, quality teaching and strength of alumni network. We share a vision for the future of education, software engineering and empowering students.”

MakerSquare also has a Dev House in Austin that provides shared housing for out of town students participating in its three month long program.

“The current higher education system does not sufficiently empower and serve people,” said MakerSquare CEO Harsh Patel. “This is a fact on a national and global level. I am confident that by joining Hack Reactor, together, we can make a large dent in transforming the old education system into one that focuses on student outcomes.”

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