Category: Austin (Page 83 of 319)

Ten Tech Events to Attend in Austin This Week

Ellsworth Kelly’s Austin at the Blanton Museum of Art.

Today marks the start of the SXSW 2019 PanelPicker Speaking Applications process. Submit your ideas for a chance to present at Austin’s top tech conference.

Despite it being summertime, it doesn’t look like the Austin tech community is taking a vacation. There are lots of Austin tech events to attend this week including one put on by Silicon Hills News at Galvanize on Thursday starting at noon. It features Michael Girdley, managing director of the Geekdom Fund, a $20 million early-stage investment fund, based in San Antonio. He will be presenting on How to Raise a Seed Stage Round of Investment. There are a few tickets remaining at $10, which includes lunch.

MONDAY – June 25: Looking for something to do tonight? Check out Demo Day at Impact Hub for Austin’s Workforce Development Accelerator Community Showcase Day featuring nine startup ventures. It kicks off at 6 p.m. at Impact Hub – 411 West Monroe St. Tickets are free.

TUESDAY- June 26: Career Pivots & Side Hustles – How to Create the Life You Want by Team Austin at WeWork West 6th starting at 5:30 p.m. Tickets are $15.

TUESDAY – JUNE 26: A Celebration of Defense Innovation in Texas at Capital Factory. Celebrating the launch of AFWERX, the Air Force’s innovation initiative opening an office at Capital Factory kicking off at 6 p.m. Tickets are free, but limited.

WEDNESDAY – JUNE 27: 5G and the Future of Wireless in Austin by Austin Tech Alliance at Google Fiber Space starting at 6 p.m. Tickets are free.

THURSDAY – JUNE 28: How to Raise a Seed Stage Round of Investment, Galvanize at noon. Tickets are $10 and include lunch.

THURSDAY – June 28: Capital Factory Job Fair kicks off at 7 p.m. on the 1st floor. Tickets are free.

THURSDAY – June 28: Panel: Male Allies at Work by Breaking the Glass starting at 5:30 p.m. at RetailMeNot, 301 Congress, Fourth Floor. Tickets are free.

THURSDAY – June 28: Net Neutrality 101: Why an Open Internet is Important by the Electronic Frontier Foundation starting at 6:30 p.m. at Terrazas Branch Library, 1105 Cesar Chavez St. Tickets are free.

FRIDAY – June 29: Scaling Up for Female Entrepreneurs: Deal Head on with Head Trash. Starts at 9 a.m. at Capital Factory. Tickets are Free.

FRIDAY – June 29: ATXRHACK – a Visualization hackathon taking place at Walmart’s Technology Center in downtown Austin and put on by Underminer Studios. Tickets are $50.

Dura Holdings in San Antonio Buys Utah-Based Moki Mobility

Paul Salisbury, CEO of Dura Holdings and CEO of Moki, courtesy photo.

Dura Holdings, a new software company in San Antonio, recently announced the acquisition of Utah-based Moki Mobility, a software company.

Moki Mobility, founded in 2011, is moving its operations from Lehi, Utah to San Antonio. The company will initially have three employees and it is hiring for additional positions. The financial terms of the deal were not disclosed. Moki is located in the Vogue building on Houston Street in the tech district. It still plans to keep an office in the Salt Lake City area.

Moki’s software allows companies to convert mobile devices like iPads and Android Tablets into retail kiosks, mobile point of sale devices, digital signs, product displays, conference room schedulers, or retail sales terminals. Moki’s cloud-based platform provides security, remote management and monitoring of the mobile devices and applications.

“We are extremely excited to help take Moki to the next level. This is a world-class team that we’re excited to now have as part of our family,” Paul Salisbury, CEO of Dura Holdings. Mr. Salisbury will be the CEO of the Moki division of Dura.

Mokie has hundreds of customers including Moneygram, Belly, PayPoint and Clark’s Shoes, in more than 55 countries.

To date, Mokie has raised $12.4 million in venture capital, according to CrunchBase. Its investors included Epic Ventures, Pelion Ventures, and Allegis Capital.

Dura Holdings is a new software company that acquires and operates business to business software companies. Paul Salisbury is Dura’s CEO and the new CEO of Moki. He previously served in executive roles at Rackspace and Dell.

“Dura buys companies with the intent to never sell them,” according to a news release. “Business owners appreciate that Dura will ensure the legacy of the customers, partners, and employees.”

Michael Girdley, managing director of the $20 million Geekdom Fund, which invests in early-stage startups, is a board member of Dura Holdings. Girdley also co-founded Codeup in San Antonio and serves as a partner at RealCo, a long-term accelerator, based at Geekdom in San Antonio.

Oracle Startup Cloud Accelerator to be Based at Capital Factory

JD Weinstein, head of Oracle Startup Ecosystem in Austin.

In February, Oracle announced it planned to launch its Oracle Startup Cloud Accelerator program in Austin.

On Friday, J.D. Weinstein, the new head of the Oracle Startup Ecosystem in Austin, provided details on the program including that it will be based at Capital Factory downtown.

“Usually, you don’t hear Oracle and Startup in the same sentence together until Oracle is buying a startup,” Weinstein said. But in Austin Oracle will make a big push to engage with startups, he said.

Weinstein, a former principal at WPP Ventures and previously a venture associate at Capital Factory, joined Oracle recently to run the Austin program which is Oracle’s first accelerator in North America. Oracle has eight other global locations in Bangalore, Bristol, Mumbai, Delhi, Paris, Sao Paulo, Singapore and Tel Aviv.

“If you’re a business to business technology company that is ready to scale and use enterprise customers then this could be the accelerator program for you,” Weinstein said.

Oracle and Capital Factory are joining forces to provide support and a network of connections to the startups selected for the program. The first cohort, which is expected to begin in September and last six months, will get access to Oracle’s 430,000 customers, technical and business mentors and more. The five to six startups selected to participate in the program will also get free co-working space at Capital Factory and access to its mentor network and community.

Oracle is not taking any equity in the startups it selects for the program and it’s not providing any financial investment, Weinstein said. Oracle hasn’t had a venture fund for years and works closely with other venture capital firms, he said.

“We are excited that Oracle has invested in Austin as the first U.S. location of its global accelerator,” Joshua Baer, founder and executive director, Capital Factory, said in a news statement. “The combination of our mentor network and Oracle’s cloud platform and customer connections will provide startups a major advantage in growing their business.”

Oracle has been steadily growing its presence in Austin. Oracle’s Founder Larry Ellison traveled to Austin in March to officially open Oracle’s Austin waterfront campus. The campus includes 560,000-square-foot building, as well as a parking garage, on 40 acres on the Lady Bird Lake waterfront. On-campus amenities include fitness facilities, a full-service café, food truck court, expansive business training and conference center, game rooms, terraces and outdoor collaboration areas, as well as the adjacent 295-unit Azul apartment complex, which serves as a housing option for Oracle employees. Ellison said he expects the campus to grow to more than 10,000 employees in coming years.

Oracle also bought an early-stage startup, Austin-based StackEngine, focused on cloud computing, backed by Silverton Partners and LiveOak Venture Partners, in 2015.

The Oracle Startup Cloud Accelerator is accepting applications from early-stage tech companies through August 7. It’s industry agnostic, Weinstein said. The program will culminate with a formal Demo Day to investors and others in Austin community.

Underminer Studios is Hosting ATXRHACK, an Immersive Technology Hackathon in Austin

Tim Porter, cofounder of Underminer Studios.

Underminer Studios, an Austin-based startup focused on Virtual Reality, Augmented Reality and Mixed Reality applications, is hosting ATXRHACK, an immersive technology hackathon at WalMart’s Technology center downtown.

The hackathon focuses on creating innovative solutions for real industry problems. It is sponsored by Underminer Studios, Intel, Walmart, Galvanize, occipital, Cuvee Coffee and Capital Factory. The sponsors will present their challenges and the hackathon participants will form teams to compete to find the best solutions. The event takes place the weekend of June 29th and runs through July 1st. Tickets are $50 and include food and drinks and prizes will be awarded to the top teams.

Alex Porter, one of the founders of Underminer Studios, provided more information on her company in the following Q&A via email.

Q. What is your company?

Underminer Studios was formed in 2016 by Alex and Tim Porter. Our family had been at the mercy of the video game industry and had lived in five cities in four years: New Orleans; Victoria, BC; Vancouver, BC; Los Angeles; Austin and we were ready to begin using the technical skills of Tim and the business skills of Alex to create our own future.

Our goal is to create a clear vision to effectively leverage Visualization Technologies. Successful implementation of powerful visual tools combined with data, analytics, and the newest hardware solutions can solidify industry leadership and provide a competitive edge for any business. We specialize in creating unique tools for growth and expansion especially in entertainment, health, marketing and education applications.

Q. Who are your customers?

Our beginnings include creating the IP and backend for the VRideo 360 video player which was a launch title on Vive, Rift, Gear, and PSVR. Marker-less facial tracking for ULSee which is a Unity Plugin now and is used by Chinese Hollywood for face swap with stunt doubles. We have worked extensively with the Intel Innovator Program to create Early Innovation projects, articles, and host events. One project actually demonstrated and defined the term XR (Extended Reality) through Intel, EnVRonments in which we combined the power of object tracking from Augmented Reality and the immersive experience of Virtual Reality for a dynamic use case. Our work has also included an AR comic, several medical devices, plus other training and marketing tools.

Q. Who is on your team?

Alexandria Porter is an experienced serial entrepreneur, designer, and leader. Her background in physical and digital design began when earning a BS in Interior Design. As a founder of Underminer she has lead the firm in development of more than 12 titles with Immersive Visual Technology. As a Chief Executive Officer her work includes cultivating the company vision, building a stellar team, and creating valuable assets to meet stakeholder’s goals. In addition to her primary job functions, Alex has been recognized by Intel for her extraordinary commitment to leading-edge technology development as a 2017 Top Innovator.

Timothy Porter, a pioneer in Visual Technology, is the Chief Technology Officer. He started his career in Video Games as a Technical Artist before moving on to endeavors as a serial entrepreneur, and later as a Pipeline Technical Director at Sony Picture Imageworks, during his career he published more than 50 titles on a multitude of platforms. Driven by a mission to utilize entertainment paradigms in leading-edge technology, Tim is best known for inspiring others to imagine the endless possibilities with technology and executing that vision. He was recognized as a 2017 Top Innovator by Intel.

Kevin Chaja, Chief Strategy Officer, began his career in post-production at Warner Bros Motion Picture Imaging. From there he moved on to Myspace, Filmlight, New Hat, Sony Colorworks utilizing his expertise in engineering, QA, and coding automation. He has served as Head of QA for Dolby Vision and recently served as Sony’s Executive Director of Post Production. As an entrepreneur he delved into VR/AR with Color Black Moment, an Augmented Reality tool for education and emotional intelligence which was acquired by EQtainment and includes serving as the companies CTO. Other endeavors include being an advisor for a few stealth projects.

Q. Why are you guys the ones to do this startup?

We are passionate and focused on changing the perspective of how technology can solve real problems. With more than two decades of experience on our team in entertainment, business, and technology we are building the paradigms that with shape the future and humanize the digital world.

Q. What challenges do you face bringing your startup into the marketplace?

We have been in the Visualization Technology space with a focus on Virtual Reality (VR), Augmented Reality (AR), and Videogrammetry which are still emerging technologies, so our markets either don’t know much about how they can use them, or they are relegated to nice to have not need to have. Much of our initial work is to educate because most of our clients do not know how they can solve their problems with these advanced solutions, yet.

Q. How do you acquire customers?

Our relationships with the Intel Innovator Program, Occipital, Sony, Vive, Leap Motion as well as our networks in video games, movies, and production have been key to acquiring customers. We are actively participating in professional conferences, demo and speaking opportunities that have also created recognition and attracted customers.

Q. What is the business model?

Our business model is a Service Model where we offer a process to ease clients into emerging technology. We begin with a Discovery Phase in which yields a Technology Strategy Plan and can include feasibility studies for software and hardware, team building, and an overview of how to take a concept from idea to product. Then we move to a Prototyping Phase to build out a Minimum Viable Product (MVP) and lastly we are available for the Development Phase of a product in which we can be the primary or the management for an outsourced team.

Our product, Volumation, is a PaaS model enabling clients to capture videos on their own equipment using set parameters, then send us the very large amount of data and lastly, we return the assets after churn reducing the necessity for the massive infrastructure.

Q. Are you bootstrapped or do you have angel or VC financing?

We have been bootstrapping since we began our company in 2016. Raising a Founder Round for Volumation last year and considering next steps as we begin to grow.

Q. What Austin resources have you found most helpful?

The Austin Startup community is amazing. The Female Founder+ group has been a wonderful place to ask questions, get support, and stay motivated. We have participated in many events Startup Week, SXSW, and Meetups as well as previously being members at Capital Factory where we embraced the collective knowledge of the Mentors.

Q. What has been your biggest win so far?

Our pivot to a hybrid consulting and development model was an important shift. Working in leading-edge technology is not easy and requires more communication and clarity than standard development. This change has helped to stream-line our processes and create an easier entry point for our clients with fewer barriers, more understanding, and better products. It has also been a huge win to fully develop a product of our own that has so much market potential.

Q. What is your long-term vision?

Much of our work has been on the path to creating impactful uses of technology for the betterment of the world and we plan to continue doing so with a focus on health applications. Volumation as a tool is going to evolve and allow us to move into medical. We envision using it to capture and analyze the body for varied uses from surgery to physical therapy and beyond. We want to realize our vision for virtual reality therapy, VR concussion detection, improved drive controls for motorized wheelchairs and more.

Q: How are you giving back to the Austin Community?

Through our work with the Intel Innovation program we are able to sponsor small events and offer resources to the local community. We have worked with Silicon Hills News, AR/VR Tools and Tech, Videogame Makers Unite, Austin Developer Week, VR Austin and other local organizations to support and create opportunity here at home. Our next event is the ATXRHACK a hackathon focusing on Visualization Technologies; AR/VR/MR/XR and offering learning opportunities with Tech Talks with prizes, food, and of course caffeine all weekend. We kickoff with a mixer on Friday June 29th at 5pm, Saturday is all about Innovation + Collaboration, and Sunday July 1st concludes with presentations and awards at 2:00pm. This event is hosted by Walmart Technology and sponsored by Intel Innovators, Occipital, Vive, Capital Factory, Cuvee Coffee, Galvanize and Underminer Studios. Learn more and grab your tickets at ATXRHACK.

Nine Early Stage Startups Pitch at DivInc’s Fourth Demo Day

In two years, DivInc, an Austin-based accelerator focused on mentoring and coaching ethnically diverse and women-led tech startups, has had four cohorts with 36 companies.

Those early-stage companies have raised $2.5 million and generated more than $1 million in revenue, said Preston James, DivInc co-founder.

“In the next three to five years, you are going to see a lot of these companies just burst onto the scene,” James said.

The 12-week accelerator program’s fourth cohort closed on Wednesday with nine companies pitching their ventures at DivInc Demo Day, a community event held at Atlassian. DivInc also announced a new board of directors with plans to expand into other cities, James said.

At the event, Monique Maley, a board member of DivInc and founder of Articulate Persuasion, talked about the need for diversity in the tech ecosystem. At 52, a native of Mexico and a female, Maley said she understands the challenges diverse founders face firsthand in a tech ecosystem like Austin.

“Groupthink doesn’t work,” Maley said. “This is not a diversity conversation. This is an economy conversation. This is a how do our companies do better conversation.”

Dana Callender and Preston James, co-founders of DivInc

At DivInc, James and co-founder Dana Callender have done a lot with few resources and a lot of grit, Maley said. And out of four DivInc cohorts, 92 percent of the companies are still in business, she said.

Next, the pitches began.

KINN – Tarica Phung Navarro, founder of Kettle and Brine, a boutique retail store with $780,000 in revenue and more than 3,000 customers, decided to shut down that business to launch a new one, KINN, modern essentials for daily living.

By 2020, Navarro said there will be a $24 billion market for sustainable tableware. Her company, KINN, plans to tackle that market. They are the new online retailer targeted at Millennials that competes with Crate and Barrel and Williams-Sonoma.

“The traditional way of buying a 16-piece collection no longer resonates with the next generation,” Navarro said.

KINN allows customers to design and build their own tabletop collection including plates, flatware, napkins, glassware and send a sample to themselves before buying more. All goods are designed in-house and produced by family-run factories that make non-toxic and earth-friendly goods, Navarro said. KINN plans to launch later this year.

“Everything you need to enjoy that better meal experience at home,” Navarro said.

OMAIVEN HEALTH – Jerold McDonald and Ani Bagepalli founded Omairven Health, a startup that helps healthcare providers deal with no-shows or missed appointments at their practices. It’s a $150 billion problem in the U.S. each year, McDonald said. It can result in about $100,000 worth of lost revenue for a family practice doctor each year, he said.

The company has created an app, AskMia, an automated bot that makes sure a doctor’s schedule stays full and fills no-shows with new appointments. Doctors subscribe to the app monthly.

The healthcare Artificial Intelligence or AI personal assistant market is estimated to be $1.5 billion by 2020. McDonald plans to launch a pilot program with 50 doctors by the end of the year using AskMia.

Kim Roxie, founder of LAMIK

LAMIK – Kim Roxie founded the cosmetics company LAMIK to create natural beauty care products for women of color.

An estimated 64 percent of women of color want to buy natural beauty care products but they can’t find them, Roxie said. Roxie’s company is focused on creating a vegan cosmetic line with natural ingredients. She initially sold the products at her own beauty store in Houston with $5 million in revenue and more than 7,000 customers. Now she is taking her product online and she’s building a community of women who want natural products.

By 2024, the U.S. market for natural beauty care products will be $7.4 billion, Roxie said.

Later this year, LAMIK will launch with its natural foundations with other products to follow, Roxie said.

“At the core of LAMIK, we are building community through cosmetics,” Roxie said.

PRO MAMA – Jessica Gaffney created Pro Mama with Ariele Rosch to provide moms with part-time and flexible work at companies.

After the birth of her daughter, Gaffney wanted to find a part-time role but found it extremely difficult. She met with friends, neighbors, and others and she found they also had a difficult time finding flexible work.

Pro Mama Co-Founder Ariele Rosch, showing off the company’s newsletter before the Demo Day.

Pro Mama is a newsletter that matches companies with qualified workers. The company generates money from companies when it hires a Pro Mama and from moms through a premium membership. It has more than 1,500 Austin-based moms receiving its newsletter. It has placed moms at companies like Bumble, Literati, Partners in Parenting and Working Not Working.

“Right now, we’re working on scaling in Austin and expanding to Dallas and Houston in the next few months and connecting with 50,000 mamas by the end of next year,” Gaffney said.

FIRE SPIKE – Anthony James, a U.S. Air Force veteran, created a patent-pending hardware system to prevent wildfires from spreading and founded Fire Spike.

“We bring 21st-century innovation to fighting wildfires – one of our most dangerous and damaging catastrophes of our time,” James said.

“The U.S. Forrest Service has said we’ve gone from having a fire season to a fire year. We are now over 350 days a year of forest fires burning,” James said.

Anthony James, founder of Fire Spike

In the last 30 years, the U.S. has had 167 million acres destroyed by wildfires, equivalent to 14 percent of the land mass of America, James said. Last year’s forest fires will cost an estimated $72 billion, he said.

The company has created a two-part unmanned system, one part is a foam barrier and the other is a water wall to contain and extinguish fires.

SEARCH PARTY – Sisters Meredith Sanger and Andrea Sanger founded a style company with a body positive social platform that lets people share their personal style.

The influencer app for everyday people lets its users share their outfits with others and earn rewards when users click on the image and buy similar items.

It’s providing an affiliate commission to users. It takes a four percent cut and provides the rest to its users.

“We are independent of other social media platforms,” Meredith Sanger said.

The company plans to launch its app in December.

“We are Search Party, style that actually fits,” Sanger said.

OROS – Amit Patel founded Oros, an algorithm-free platform that gives people the ability to have fully authentic conversations with others.

People trust peer to peer recommendations, Patel said.

“People crave authentic and real answers from real people,” he said.

Oros is an on-demand information concierge giving people the answers to their questions in real time, he said. The company launched in Austin about ten weeks ago and has attracted more than 4,000 users, Patel said.

The company plans to make money through advertising, surveys and affiliate partnerships with sites like Yelp, TripAdvisor and others.

“We’re Oros, crowdsourcing real answers from real people,” Patel said.

BIDCRANE – Brandon Matthews and Xavier Madison founded Bidcrane to grow diversity in the construction industry.

About one-fourth of all contracts awarded by government agencies are supposed to go to ethnically diverse and women-led companies, Matthews said. That’s where Bidcrane comes in. It’s a matchmaking service for small businesses and big companies to connect. It’s focused on veteran, minority and women-owned companies.

Bidcrane generates its revenue on a monthly subscription basis. It launched its pilot program in February and has two pilot customers, the City of Dallas and the City of Fort Worth.

JUICEBOX HERO – Laurie Felker Jones created JuiceBox Hero as a platform for parents to find childcare.

On Oct. 16, 2016, Felker Jones returned to work after having her second daughter. She had two children at home under the age of two and 34 progressive women on her roster at the largest political organization in the state of Texas.

“That year, a few months later, an election year, we elected 29 out of 34 of those women,” Felker Jones said. “It was hard. And it was amazing. And the only way it was possible for me to have the confidence of a modern working women with a big complex job that I loved, and a small growing family was because I had amazing childcare partners. But finding them was not easy. It was time consuming, frustrating and anxiety producing.”

Felker Jones founded JuiceBox Hero to simplify the process for all working parents.

“It turns out my story is not all that unique,” she said.

Every week, in the U.S. there are more than 11 million children in childcare and the number is growing, Felker Jones said. Eight out of ten babies are born to Millennials with mostly dual-income households, she said.

“The problem is everyone is searching for childcare with the same old tools,” Felker Jones said.

A Google search for childcare and her zip code served up 70,000 websites, she said. She created JuiceBox Hero to provide more accurate results with 24 filters to find exactly what parents are looking for.

JuiceBox Hero released its online platform last month, she said. It is focused on licensed care centers. It offers a subscription model for childcare centers and parents. It also plans to partner with major employers.

“This is not just a feel-good idea, this is a valuable one,” Felker Jones said.

Childcare is a multi-billion-dollar market. Next year, the company plans to expand to Houston and then Dallas, Felker Jones said. Since it launched five weeks ago, the platform has helped more than 1,000 parents and five percent of the local childcare market, she said.

“We’re JuiceBox Hero and we know that when we take care of working parents, they can take care of business,” Felker Jones said.

The New $35 Million Trust Ventures Fund is Looking to Invest in Disruptive Startups with Billion Dollar Big Ideas

Trust Ventures, an Austin-based venture capital firm has raised an initial $35 million fund, backed by Koch Disruptive Technologies, a subsidiary of Koch Industries, to invest in and support innovative startups facing public policy barriers.

Salen Churi and Brian Tochman lead Trust Ventures. Previously, Churi worked as a law professor and founded the Innovation Clinic at the University of Chicago Law School. He also practiced law at Kirkland & Ellis and Sidley Austin.

Tochman was the co-founder, president and chief operating officer of Kasita, an Austin-based startup that builds modular homes and apartments. Previously, he worked as vice president of mergers and acquisitions for Platinum Equity, a Beverly Hills, CA-based private equity fund.

On this edition of the Ideas to Invoices podcast, Churi and Tochman talk about what motivated them to raise a $35 million fund to focus on disruptive technologies and what kind of investments they plan to make.

“For us we saw a huge opportunity in the market,” Churi said. “More and more companies are coming up against public policy barriers that prevent them from bringing new kinds of business models to market. Often times these barriers were put in place 50 or more years ago in a different environment and a regulation addressing a problem came to be. And now many years later, we’re in a different kind of economic state and it serves as a barrier to innovation.”

Their focus is to help entrepreneurs and be a guide for them, in a lightweight way, navigate the bureaucratic barriers that exist for innovators today.

Churi, as a former law professor at the University of Chicago working for the Institute for Justice, knows the problem firsthand. He worked on a campaign in Chicago to legalize street vending.

“So I was helping folks really on the first rung of the economic ladder selling tamales and helotes and in Chicago that was illegal,” he said. The restaurants worked together with the city to fine the vendors up to $1,000 a day and shut them down, he said.

Through that experience he saw the need to do the same thing for high-growth tech companies, Churi said.

“There’s a number of them coming up against these barriers,” he said.

At Kasita, Tochman faced some of the regulatory issues that prohibit innovation. And that brought him together with Churi.

“Everything from regulation that limits the height you can build modular construction at…to RFP (Request for Proposal) contracts with FEMA (Federal Emergency Management Agency), disaster relief housing after Harvey,” Tochman said. “It was a big opportunity for Kasita but for a period of time, it wasn’t even accessible to us. We had to work with a lot of the regulators to find a path forward there.”

It hit home that this is a really big opportunity, Tochman said.

Trust Ventures focuses on a lot of industries, but it doesn’t invest in pharmaceuticals. It concentrates on energy, transportation, financial technology services, insurance, and food and beverage.

“For us, we’re looking for where can we add value,” Tochman said.

Trust Ventures plans to write checks ranging from $100,000 to as high as $3 million to $5 million. It’s looking primarily at investing at early stage investments, Tochman said. When it does make later stage investments, it will leverage its relationship with Koch Industries, he said. Trust Ventures does not take board seats on the company it invests in but seeks an advisory role. The company is looking for big ideas and considers companies that are transformative and have the opportunity to be a $1 billion-plus business.

“We are an investor who has the best interests of the entrepreneur in mind and we’re going to be available as much as possible and that’s both directly internal to the fund with Sal and I and our team and with our partners at Koch Industries and leveraging their capabilities, their skill set, knowledge and network to help drive them forward.”

For more, listen to the entire interview below in which Churi and Tochman talk about how they make their investment decisions, best traits for an entrepreneur and more.

Also, please rate and review our Ideas to Invoices podcast on iTunes and support Silicon Hills News by becoming a patron on our Patreon site. You will get to vote on what we cover in future podcasts and stories.

London-based Finastra Acquires Austin-based Malauzai

London-based Finastra announced this week its acquisition of Austin-based Malauzai, a provider of mobile and Internet banking solutions.

The financial terms of the deal were not disclosed.

“Credit unions and community banks are the fabric of American financial services. We strive to help them realize the benefits of digital transformation – including being able to deliver outstanding experiences right across their consumer and business customer lifecycles,” Simon Paris, CEO at Finastra said in a news release. “Together, our two companies deliver a fully integrated open core platform for payments, lending and digital, across Finastra’s 4,500-strong US-based community market customers and Malauzai’s non-core US-based customers. We value Malauzai’s market leadership and its open approach, which is in perfect alignment with our open platform vision.”

Finastra and Malauzai have been partners. Since 2015, the two companies have landed more than 130 joint customers.

“We’re extremely excited for the next chapter of our story with Finastra, Tom Shen, CEO at Malauzai said in a news release. “Together we have a deep understanding of the community banking space. By combining a best-in-class core experience, backed by leading innovative mobile and Internet banking capabilities and our mobile-only design approach, community financial institutions win. The acquisition creates a compelling proposition for our existing customer base and enables Finastra’s customers to deliver a seamless banking experience with a robust breadth of services, via a single provider.”

Malauzai, founded in 2010, has more than 350 U.S. financial institutions as customers that serve more than 1 million active monthly users.

Strangeworks Raises $4 Million in Funding

William Hurley, known as Whurley, photo by John Davidson.

Strangeworks, an Austin-based quantum computing software company, closed a $4 million seed round recently.

William Hurley, known as Whurley, the company’s founder and CEO previously announced the company had raised $4 million when the company made its public debut at South by Southwest Interactive in Austin.

Just recently, Strangeworks sent out a press release with more details on the funding. Lightspeed Venture Partners led the round with additional investors including Ecliptic Capital, which is Whurley’s investment firm. Other investors included GreatPoint Ventures, Lux Capital, BoxGroup and Amplify Partners. Indivudal investors included Bob Beauchamp, chairman of the board of BMC Software; Charles Stonehill, chairman of the board of Julius Baer Group AG and board member of AXA Equitable Holdings Inc.; and Jon Soberg, who led the seed round in the previous company led by Strangeworks founder Hurley, Honest Dollar, which was acquired by Goldman Sachs.

Strangeworks is focused on quantum computing. It plans to design and deliver tools for software developers and researchers and others in the technology industry. It is targeting applications in the aerospace, energy, finance and pharmaceuticals industries.

Others on the Strangeworks executive team include Justin Youens, David Cardona, and several additional members of the original Honest Dollar team.

“I’ve been working with whurley and the Strangeworks team for several months now, and I’m confident that their approach to building a business around quantum and other forms of unconventional computing is the most audacious and forward-thinking I’ve seen,” Adam Goldberg, partner at Lightspeed, said in a news release. “Strangeworks has enormous potential and I’m excited that Lightspeed has partnered with such an accomplished team.”

“We are at the dawn of the commercial quantum era, and by combining an experienced team with a smart go to market approach, Strangeworks is well positioned to lead in this fast-growing industry,” Ray Lane, managing partner, GreatPoint Ventures, said in a news release. “Our investment in whurley and his team expresses our confidence in their leadership of this nascent industry.”

“I led the seed round in Honest Dollar, which has brought retirement products to a grossly underserved market and is thriving at Goldman Sachs after the very good exit,” Jon Soberg said in a news release. “Strangeworks is doing something similar by making a rare and valuable resource – quantum computing in this case – available to more people who can benefit from it. I’m proud and excited to work with whurley, Justin, David, and the team again.”

Strangeworks has parnterships in place with IBM Q Network, a worldwide community dedicated to advancing quantum computing, Stack Overflow which together launched Quantum Computing Stack Exchange, a question and answer site for engineers, scientists, programmers, and computing professionals interested in quantum. And it partnered with the European Organization for Nuclear Research to create the CERN Entrepreneurship Student Programme that will send ten Master’s students for a five-week residency at CERN this summer.

Eventador Lands $3.8 Million in Funding

Kenny Gorman and Erik Beebe, Eventador Founders

Eventador announced recently the company has closed on $3.8 million in seed stage funding.

The Austin-based startup announced that the investment came from lead investor LiveOak Venture Partners with participation by Deep Space Ventures, RSH Ventures, Capital Factory and existing investor Keshif Ventures. The company plans to use the money to expand its U.S. and European sales and marketing operations and on engineering, operations, support and research and development for additional products.

As part of the deal, Venu Shamapant, partner at LiveOak Venture Partners, will join Eventador’s board of directors.

Eventador, founded in 2016, has built a platform that allows companies to build, deploy and manage streaming data applications. Eventador’s platform is being used by Internet of Things companies, manufacturers, social networking ventures, network security, machine learning and threat detection and geolocation services that rely on real-time data.

“As the modern enterprise increasingly depends on real-time data, streaming architectures are replacing traditional database systems as the defacto-standard. Eventador uniquely addresses this data evolution,” Shamapant said in a news release. “We are excited to work with Kenny and Erik. As repeat entrepreneurs with a proven track record, they’ve demonstrated the commitment and ability to construct a world-class managed service.”

“We couldn’t have found a better partner than LiveOak. They deeply share our vision, have vast strategic experience, and are local to us in Austin,” Kenny Gorman, Founder and CEO of Eventador, said in a news release “We are insanely passionate about what we are building here, and this round fuels our ability to grow our vision.”

“Stateful stream processing is changing how developers build modern, real-time applications,” Erik Beebe, Founder and CTO of Eventador, said in a news release. “Customers love being able to leverage a simple, powerful interface, along with expert support, to quickly build cutting-edge, production-ready streaming applications.”

Genstar Capital Acquires DrillingInfo

DrillingInfo, the Austin-based startup digitizing the oil and gas industry, has been acquired by Genstar Capital, a private equity firm based in San Francisco.

To date, DrillingInfo has raised $199.7 million in funding, with the bulk coming from private equity investor Insight Venture Partners. Upon close of the deal, Genstar will become the new majority shareholder of the business with Insight Ventures retaining a significant minority stake. Financial terms of the deal were not disclosed.

Drillinginfo, with 675 employees at 13 offices, has created a data, analytics software platform for the energy industry. The company has made ten acquisitions since its founding in 1999. It has more than 3,500 customers in 50 countries and has more than 45,000 users on its platform.

“Our investment focus in the software sector is to identify companies with market-leading technologies operating in dynamic growth markets, Eli Weiss, Managing Director of Genstar, said in a news statement. “As with our earlier successful partnerships, we will provide the additional investment capital and resources to further broaden Drillinginfo’s customer relationships and execute their growth strategy.”

“Our growth is attributed to the unmatched quality of our products combined with an unwavering focus on the customer and supported by our incredibly talented team of people,” Jeff Hughes, CEO and President of Drillinginfo said in a news statement. “We are now doing a better job than ever of serving customers as large as supermajors and as small as sole proprietors. We will continue to expand our range of product technologies to support our customers’ growing needs anywhere in the world. Genstar has a deep understanding of SaaS platforms like ours and we look forward to working together to further expand our suite of product offerings in areas important to our customers.”

Drillinginfo has successfully completed over 10 acquisitions to further strengthen its business. Recently, Drillinginfo announced the acquisition of PLS, Inc.’s research and database business and 1Derrick, two highly-visible companies in the oil and gas industry that offer services for sourcing, valuing and analyzing asset transactions.

« Older posts Newer posts »

© 2026 SiliconHills

Theme by Anders Noren — Up ↑