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Vendini Acquires Austin-based CrowdTorch

4a8a10fb50d0c3d3cc0389357b295b43Vendini, a San Francisco-based live events company, announced Friday it has acquired CrowdTorch, an Austin-based consumer ticket and live event platform, previously owned by Cvent.

The financial terms of the deal were not disclosed. Its Vendini third acquisition since its founding in 2001. Vendini plans to keep the CrowdTorch ticketing platform and operate it as a wholly owned subsidiary. It also announced the company’s engineering and support teams will join Vendini.

“We are incredibly excited about this acquisition of CrowdTorch,” Vendini CEO Mark Tacchi said in a news release. “This allows us to jump further into the B2C ticketing marketplace, integrate some great technology into our solution and reach deeper into new verticals like clubs and comedy.”

Vendini also has offices in Petaluma, California, Boston, New York, Knoxville, Tennessee and Vancouver, Canada.

TabbedOut Raises Additional $2 Million in Venture Capital

imgres-1-1TabbedOut, a mobile payments app for bars and restaurants, announced Friday it has raised $2 million more in its Series C venture round.

Miami-based Aeterna Capital provided the funds. That increases TabbedOut’s Series C round to $23.5 million.

The other investors include lead investor Wellington Management Company and participating investors NEA and Morgan Creek Capital Management.

TabbedOut originally announced its Series C last June. The company plans to use the funds to expand to 20 planned U.S. metro areas and then launch internationally. Its app is currently being used in 10,000 bars and restaurants.

“We used TabbedOut in Miami and were absolutely floored by it,” Karl Finegan at Aeterna Capital said in a news release. “The company has produced an app that is dead simple to use, allows restaurants to turn tables much faster and removes the typical delay for diners/bar patrons in having to request to close out a tab. The company is also capable of producing extremely useful consumer analytics for bars, restaurants and beverage companies. TabbedOut has the technology and a world class team in place to dominate in the mobile payments space.”

Since its founding in 2009, TabbedOut has raised $41 million in funding.

CBANC Raises $4 Million in Venture Capital

imgres-1CBANC, a network for bank and credit union professionals, announced it has raised $4 million in venture capital funding.

The Austin-based network with 22 employees plans to use the funds to hire new employees, expand membership and launch new products

CBANC founder Hank Seale led the Series B funding with participation from Texas Independent Bancshares, Mike Maples and Adams Street Partners.

In addition to CBANC CEO Bryan Koontz, the CBANC board of directors includes Seale, founder and chairman of CBANC and Q2, Charles Doyle, chairman of Texas Independent Bancshares, Inc. and former director of the Federal Reserve Bank of Dallas, Mike Maples, former EVP of Microsoft and Jeff Diehl, managing partner and head of investments at Adams Street Partners.

“As someone who has been in community banking for 44 years, I look at CBANC and imagine all of the pain points we could have tackled through collaboration with industry peers across the country,” Doyle, CBANC board member and chairman of Texas Independent Bancshares, Inc said in a news release. “The ability to get online and find a contact at a bank similar in size, in a different state or dealing with the same regulatory issues was never an option. That’s what banking professionals are able to do with CBANC. We’re able to take down the walls and make connections that empower community banking to continue and thrive by tackling obstacles together.”

Milken Institute Ranks Austin Fourth Best Performing City in 2015

Photo by John R. Rogers with Viusalist Images in Austin

Photo by John R. Rogers with Viusalist Images in Austin

Austin took the fourth spot in the Milken Institute’s annual Best Performing Cities index for 2015, down two spots from last year.

“Austin-Round Rock, Texas, remains among the Top 5 best-performing large metros at fourth place, slipping from second last year,” according to the report. “It accomplished this feat despite a couple of shocks to its economy—the plunge in oil prices that reduced exploration activity and the high value of the dollar constraining exports of electronic components and computers.”

San Jose, California took the top spot, followed by San Francisco and Provo, Utah.

“More than ever, America’s best-performing cities demonstrate what we call the innovation advantage,” Ross DeVol, chief research officer of the Milken Institute and one of the report’s authors, said in a news release. “That is witnessed not just in ‘traditional’ technology but in the importance of software, social media and even cutting-edge health innovation.”

The Milken Institute’s index ranks cities on growth in employment, wages and technology output. San Jose reported an average annual wage of $116,000, compared to $61,500 for the nation overall. It also attracted nearly $10 billion in venture capital investment, the highest total since 2000, according to the Milken report.

Only three Texas cities, Austin, fourth, Dallas, fifth and San Antonio, 12th, made the top 25 metros this year, compared to seven last year. The decline is a result of the slowdown in the shale oil exploration and the energy economy in Texas, according to the report. California had four metro areas in the top 25 spots.

Younicos Raises $50 Million to Expand its Energy Storage Solutions

imgresYounicos, based in Austin and Berlin, announced Tuesday it has signed agreements for $50 million in venture capital.

The company plans to use the funds to scale sales of its intelligent energy storage solutions.

First Solar, a global provider of solar energy solutions and Grupo ECOs, a sustainable investment-focused private equity firm, invested along with an undisclosed strategic lead investor.

Earlier this year, Younicos moved into new 32,500 square foot Austin headquarters at 3100 Alvin Devane Boulevard is located about ten minutes from Bergstrom International Airport and downtown Austin. In April of 2014, Younicos was the winner bidder to acquire the assets of Xtreme Power, a battery storage maker based in Kyle, in a Chapter 11 liquidation bankruptcy case.

“Utility-scale storage is an exciting new frontier for grid flexibility and modernization that can help to facilitate high penetration of renewables in certain circumstances. Younicos is a true trailblazer in grid-scale storage integration,” Raffi Garabedian, First Solar’s Chief Technology Officer said in a news release. “As the promise of storage continues to evolve, we are eager to understand how it will broaden our own power plant offerings. This is an important investment in continuing and potentially accelerating the shift of our energy landscape to renewables.”

“The signing of this investment round ignites the second stage of our growth plan,” James P. McDougall, CEO of Younicos said in a news release. “Following our successful reorganization at the beginning of the year, our new investors now strengthen us not only financially, but will also help us capture important market segments more rapidly with higher value, products and services.”

Younicos, founded in 2005 in Berlin, Germany, has more than 150 employees in Germany, Kyle and Austin. Younicos makes intelligent storage and grid solutions based on battery technology. It has nearly 100 megawatts installed in more than 20 energy storage projects worldwide.

Austin-based Revionics Buys Marketyze

imgresRevionics, which makes price optimization software for retailers, announced Tuesday that it has acquired Marketyze, based in Tel Aviv, Israel.

The financial terms of the deal were not disclosed.

Onn Manelson and Nave Ronen founded Marketyze in 2011. The company has six employees and offices in Phoenix, Arizona and Tampa, Florida, according to its LinkedIn profile.

“This strategic acquisition will truly provide a distinct advantage for our customers – one vendor with unified solutions that can deliver powerful intelligence across market, competitive and customer data to execute a profitable omni-channel strategy,” Marc H. Hafner, CEO, Revionics said in a news release.

The combination of Revionics’ price optimization software with Marketyze’s competitive analytics platform will help retailers become more profitable, according to Revionics. Its customers will receive real-time price monitoring and analytical insights from one source.

“Retail is at the intersection of business strategy and data science,” Manelson, Marketyze Co-founder and CEO said in a news release. “This combination empowers retailers to adopt a more holistic strategy across all their channels to execute a more seamless pricing, promotion and assortment strategy that will yield stronger profits, customer loyalty and competitive advantage. Retailers also benefit from the speed, scalability and economics of our SaaS delivery model.”

Revionics, based in Austin and founded in 2002, has raised $48.2 million in four rounds from three investors, according to its Crunchbase profile. Revionics has more than 40,000 retail customers worldwide including Dick’s Sporting Goods, eBags and Cabela’s.

Everfest Launches New Festival Photography Program

siliconhills-ef-logoEverfest has launched a new festival photography program to complement its marketplace for discovering festivals worldwide.

The Austin-based startup just launched the program to give photographers a chance to have their work published on Everfest. Photographers can apply on the site, upload links to their portfolio and if they are approved they get press passes to cover the festivals.

“All we need is their name, what festival they’re interested i shooting, and link to their portfolio,” Maddie Rish wrote in an email. “I feel that this a unique opportunity for hobbyists/amateur photographers to get their name out there, and it’s very exciting on our end as well.”

Everfest officially launched in April of this year with $1.5 million in seed stage funding. Jay Manickam, co-founder of uShip and Paul Cross, founder of Ticketbud, founded the company in October of 2014.

Videotape Launches New App to Create Interactive Videos

Screen Shot 2015-08-04 at 11.07.57 AMVideotape, based in Austin, announced it has released its new iOS app to help people create interactive videos.

The startup created the app’s technology, called Jumpcut, that lets users share videos and receive interactive video responses. Other people can add to the new with new video and audio for up to 40 seconds.

“We wanted to create a product that helps advance the interaction between a video publisher and their viewers,” Stephen Callender, Videotape co-founder and chief product officer, said in a news release. “We see Videotape’s Jumpcut as a significant breakthrough for mobile video interaction. When your video is Jumpcut on Videotape, you get more than just the satisfaction of engagement. You get a new video that includes the faces and voices of your friends and family that is worth keeping and resharing.”

The company sees its customers using Videotape for everything from sports commentary on a great video clip to sharing special family moments with relatives.

The Videotape app is free to download in the Apple App store.

Greg Manriquez, previously the founder of NameDrive, a global domain brokerage and parking firm, co-founded the company, which is backed by Riquez Capital. The other founders include Stephen Callender, previously the co-founder of Stellar Impeller, a design, public relations and events shop; Jay Oh, previously the co-founder of Qwiki, a mobile app that created stories from your video library; Dusty Allen, previously an MLB player for the Detroit Tigers and
 San Diego Padres, financial entrepreneur and real estate developer and Andrew Kramer, previously an associate at a finance company in NYC that specializes in facilitating mergers and acquisitions.

Zilliant Hires VP and Launches Channel Partner Program

Zilliant_LogoZilliant, based in Austin, announced Tuesday that it has hired Steve Hale as vice president of its newly launched worldwide channel sales.

Hale will lead, design and execute Zilliant’s new channel program. Its channel partners will sell Zilliant data science solutions.

Zilliant, founded in 1999, makes price optimization and price management software.

“We’re very excited to welcome Steve to our fast-growing team and build a world-class partner program,” Greg Peters, president and CEO of Zilliant, said in a news release. “As the only SaaS provider for B2B price and sales optimization, Zilliant represents a unique opportunity for prospective partners to magnify the value of their offerings. Steve has a clear vision of how we can develop a scalable partner network capable of driving smarter growth and profitability for our customers worldwide.”

Hale previously worked as vice president of global channel sales for Sophos and Novell. He was responsible for channel strategies and execution including sales, marketing and enablement with channel ecosystems of more than 30,000 partners worldwide.

Privately-held Zilliant has raised $49.6 million from 10 investors in five rounds, according to its CrunchBase profile.

Open Source Coworking Opens in Austin

Open Source 2Austin has another coworking site.

Luke Filipos and Chris Sica founded Austin Coding Academy and then decided to create Open Source Coworking to expand their current business and launch a new one.

“Our hope is to build a community whose network includes all of the human capital necessary to build any technology,” Filipos said in a news release. “While everyone is certainly welcome, we do place a preference on those who are working directly in the tech development industry, such as programmers and designers.”

Open Source Coworking is located at 620 Congress on the third floor of the Sampson building. Membership starts at $165 a month for a flexible membership for eight day passes to $325 a month for unlimited access. Private offices are also available.

The coworking space features an open floor plan with live plants on the walls and artwork and interior design by Luis Angulo. It also has private conference rooms, private phone booths, mail services, a valet parking service, high speed fiber Internet and a kitchen with beer and coffee on tap. The site is offering free tours to interested customers.

Open Source 1

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