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Fashion Metric Lands $1 Million in Funding

shop-click-fashion-metricFashion Metric, a company that acts as a virtual tailor online, closed on its $1 million seed round.

Tahoma Ventures in Boulder led the round with participation from Corsa Ventures in Austin, Elementum Ventures in Menlo Park, Geekdom Fund in San Antonio and multiple angel investors.

So far, the company has raised a total of $1.4 million featuring previous investments from Mark Cuban and Techstars.

Fashion Metric, founded in Los Angeles, moved to Austin last year to participate in the Techstars Austin program. Following the conclusion of the program, the founders decided to stay in Austin.

Fashion Metric plans to use its funding to hire additional employees and to continue to develop its products. Daina Linton is CEO and co-founder and her husband, Morgan Linton, is also a co-founder.

Fashion Metric has created software that helps online shoppers find clothes that fit by calculating their detailed body measurements. Fashion Metric simply asks a few questions and then their software processes the information through its proprietary algorithm and comes up with specially tailored information about the correct size and fit.

“With no standardization for Off-The-Rack apparel sizing, there is massive confusion around clothing sizes at the consumer level that results in low conversion and high return rates,” according to the company. “Fashion Metric eliminates the ambiguity of the size chart while passing along valuable insights to retailers about their shoppers. Retailers can leverage continuous data analytics to enhance targeting and make better inventory management decisions.”

“Innovation in the IoT Era” at UT

An-Steegen---mediumThe Internet of Things means everyday objects will contain tiny microchip-enabled sensors that will gather information that software will analyze and process resulting in greater efficiency and understanding.

It’s shaping up to be a transformative mega-trend which Goldman Sachs has dubbed the third wave in the development of the Internet.

“The 1990s’ fixed Internet wave connected one billion users while the 2000s’ mobile wave connected another two billion,” according to a Goldman Sachs report. “The IoT has the potential to connect ten times as many (28 billion) “things” to the Internet by 2020, ranging from bracelets to cars.”

At the University of Texas at Austin, An Steegen, senior vice president of process development at Imec, a major research center focused on microelectronics in Belgium, will speak Wednesday on “Technology Innovation in an IoT Era.”

Steegen will discuss some of the new technologies on the horizon like the use of low power integrated circuits, sensors, longer life batteries and more in her talk about the growth of the Internet of Things.

The event is hosted by the NASCENT Nanosystems Engineering Research Center at UT. It takes place Wednesday at the Avaya Auditorium in the Peter O’Donnell Building for Applied and Computational Sciences at 201 East 24th St. It starts at 9 a.m. and runs until 10 a.m. followed by a 30 minute question and answer session.

The event is free, but registration is required.

New Web Developers Debut at Codeup’s Demo Day

By LAURA LOREK
Reporter with Silicon Hills News

Liz Cole, John Staudt and Jason Birdwell, graduates of Codeup.

Liz Cole, John Staudt and Jason Birdwell, graduates of Codeup.

For three months Josee Farmer drove daily from North Austin to San Antonio to learn how to become a web developer at Codeup.

“It was totally worth it,” Farmer said.

She recently relocated from North Carolina to Texas and she wanted to get into the technology industry. But she didn’t have a technical background. She previously worked in the healthcare industry. When she got accepted to attend Codeup, a 12 week bootcamp that turns non-coders into proficient coders, she was thrilled.

“I would not have been able to do this on my own without Codeup,” Farmer said. “It was totally worth it.”

Josee Farmer, a recent graduate of Codeup

Josee Farmer, a recent graduate of Codeup

Last Wednesday, Farmer was one of a group of students who graduated from the latest class of Codeup. She participated in the Codeup Demo Day and showed off work she and her teammates did on a project called Filmseedr, which lets filmmakers crowdfund money for projects.

They presented their projects during a demonstration and reception at Peer 1 at the Pearl.

Since Codeup launched in 2013, 72 students have learned how to become web developers. Codeup has held four Demo Days. And most of the graduates have found jobs locally, Girdley said. He founded Codeup with Jason Straughan and Chris Turner.

Michael Girdley, co-founder of Codeup

Michael Girdley, co-founder of Codeup

“About 85 percent of the people are staying locally,” he said. “People have also gone to Austin, Dallas, Fort Worth and San Jose for jobs.”

Codeup also runs a program for veterans. It recently launched Codeyear, a gap year program, aimed at high school graduates. They spend six months to a year at Codeup learning technical skills and the program gets them an internship with a tech startup, Girdley said.

Students are coming from all over the state and country to attend Codeup, Girdley said.

Paul Kuzma, a recent graduate of Codeup

Paul Kuzma, a recent graduate of Codeup

Paul Kuzma relocated from Indianapolis, Indiana to attend the bootcamp. He was trying to teach himself web development but it wasn’t going very well and he wanted to complete the program by the time his daughter was born.

Kuzma, who previously worked as an elementary and junior high school teacher, said coding bootcamps don’t really exist in the Midwest except for one program in Chicago that was out of his price range.

Kuzma stayed with a friend in San Antonio while participating in the Codeup bootcamp. His wife gave birth to their daughter on New Year’s Day. Kuzma had completed the program. He flew back last week to participate in the Demo Day. His team created WorldMentr.org, a matchmaking service aimed at connecting college students with mentors in their chosen profession.

Kuzma said the program gave him the skills he needs to land a job as a front end and back end web developer. He now knows PHP, MySQL, HTML5 and CSS3, JavaScript and Laravel.

John Staudt, a former high school AP English teacher, needed a change and got into coding gradually over the years. He planned to teach himself to become a developer, but then he found out about Codeup and he joined the program.

He eventually wants to launch his own company. His team built MyLocal.Beer as their project, a Web app that helps people find local beers.

Liz Cole, who previously worked as a personal assistant, also worked on the MyLocal.Beer site. She did the front-end development.

“Before Codeup, I had no coding experience,” Cole said. “I had an art degree. I was kind of floundering trying to figure out what I was going to do.”

Codeup taught her the skills to become a web developer.

“I love the design aspect of it and being able to mix logic with design,” Cole said.

The next Codeup class in web development and software engineering kicks off Feb. 3rd, Girdley said. The class is already two-thirds full, he said. Demand continues to grow for the bootcamps, he said.

“We’ll probably be oversubscribed,” he said.

The New $3 Million Geekdom Fund Invests in Tech Startups

yd5uizoxy8wyszzcqrvkThe Geekdom Fund has successfully raised $2.96 million to invest in tech startups.

“We raised money locally to put into tech startups here and around the country,” said Michael Girdley, who is one of the partners heading up the new Geekdom Fund.

The other Geekdom Fund partners are Don Douglas, Cole Wollak and Mike Troy.

“The idea is to have a focus on San Antonio but to be open to other good ideas as they come in,” he said.

About 50 local and regional investors contributed to the new Geek Fund, managed by Riverwalk Capital LLC. The fund has already made several investments in startups including Promoter.io, HelpSocial, SmartPicture, Par Level Systems, MergeVR, FlashValet, Testlio and Fashion Metric.

Jackson Walker L.L.P. represented the Geekdom Fund L.P.

Since the fund closed earlier this month, Girdley said he has been meeting with six or seven entrepreneurs every week interested in tapping into the new investment.

The original Geekdom Fund invested $25,000 in a handful of tech startups based in San Antonio. All of that money has been invested, Girdley said. He was one of the investors in that fund also.

More money has been flowing into technology startups in San Antonio in the last three years through seed-stage funds.

John Mosher and Pete Selig previously ran two funds that invested in Techstars cloud companies. They raised $2.4 million for the Cloud Power Seed Fund 2012 which invested the money in the Techstars Cloud 2012 class. They were also raising a second fund worth up to $4 million to invest in the 12 startups that participated in the Techstars Cloud 2013 program

Time to Apply to the Seed Sumo Accelerator

static1.squarespaceSeed Sumo, a startup accelerator in College Station, is now accepting applications for its 2015 program.

The program provides $50,000 in funding, up from $30,000 during its first program last year. Seed Sumo will take up to ten startups.

Last year, 750 teams applied for eight spots. Those startups have received more than $4 million in funding so far.

The three-month long program kicks off May 20th. The program takes place in a new 50,000 square foot building and features access to more than 4,000 virtual advisors. It also features intensive mentoring with a focus on business model design.

“We had great success with our startups last year and we want to make it even better this year,” D.J, Monteilh, co-founder and director of operations for Seed Sumo said in a news release. “We not only want to grow and develop our startups businesses, we want to grow each founder as an individual as well. That is one reason why we’ve quadrupled our staff and incorporated a food and nutrition program to keep their minds sharp, energy high, and spirits up.”

The program features dedicated work space, a R&D lab, fitness centers and recreation areas and complimentary massages. Applications can be submitted through March 22.

UT Austin Team Wins IBM Watson University Competition

images-2A team of students from the University of Texas at Austin took first place in the inaugural IBM Watson University Competition in New York last week.

The winning team of 12 received $100,000 in seed financing from IBM Watson Group and the Entrepreneur’s Fund to launch its application, CallScout, which gives people access to social services.

“The CallScout app, which the State of Texas has approved for pilot, was designed to help streamline the delivery of social services information across mobile devices, ensuring crucial information is available when and where it is needed, especially for citizens without home internet service,” according an IBM news release. “The app will integrate local hours of service, route and map information and other relevant data, while automatically delivering push notifications when important details change.”

A group of students from the University of Toronto took second place with “Ross,” an app that allows users to ask Watson legal questions. A team of students from the University of California at Berkeley placed third with a app called “Patent Fox” that simplifies the patent filing process.

Altogether, IBM invited eight student teams to compete at the Watson headquarters in New York City. The other schools included Carnegie Mellon University; Ohio State University; Northwestern University; Rensselaer Polytechnic Institute (RPI) and the University of Michigan.

“Our business idea and app, “CallScout,” enables people in need of help to download an app to a smartphone, use it to conduct a typed conversation with Watson, and get information about social services in their community. (Eventually, people will be able to interact via texting, as well.)” according to a blog post from Bri Connelly, a senior computer science major and team leader for the project. “Topics might include health care, food pantries, temporary housing and other government and non-profit services. We’re hoping to launch a pilot of the app with the United Way of Austin by the end of summer.”

The team hopes to join the Longhorn Startup Lab, a program at UT that helps students become entrepreneurs, and pursue CallScout as a startup business, according to Connelly.

IBM’s Watson is a cognitive computing system that acts like a human brain. It can analyze huge amounts of data easily and understand complex questions spoken naturally.

LawnStarter Raises $1 Million in Seed Financing

images (13)LawnStarter announced Wednesday that it has landed $1 million in seed round financing.

The Austin-based online lawn care company raised the money to expand into new markets.

The funds came from several angel investors including Rob Taylor, Cotter Cunningham, Pat Matthews as well as venture fund Vayner RSE, headed up by Gary Vaynerchuk.

LawnStarter, founded in 2013, created a platform to easily connect homeowners with lawn care companies online or through a mobile app.

“It’s easy to create a lawn care app, and quite frankly, it doesn’t solve the big problems,” CEO and co-founder Steve Corcoran said in a news release. “The lawn care industry is broken and complex, so it’s important to focus on the operations, industry knowledge, and customer experience as well.”

LawnStarter, founded in the Washington, D.C. area, relocated to Austin last year for the Techstars Austin program. They decided to stay here after the program ended. The company currently operates in the Washington, D.C. area, Austin and Orlando, Florida. They plans to expand throughout the Southwest region by next year, said Ryan Farley, co-founder.

“The demand actually exceeds what we expected, so we’re happy about that,” he said. “This capital will help us acquire additional resources and rock star employees in order to scale our operations while maintaining the amazing service that customers love.”

Silicon Hills News did this story on LawnStarter last year when it launched in Austin.

Dropoff Expands to Houston

imgres-2Austin-based Dropoff is now available in Houston.

The startup provides same-day delivery for a variety of businesses. It originally launched in Austin last November.

Houston businesses will be able to use Dropoff’s online platform to easily order same-day deliveries and to track them. Dropoff provides “accurate ETAs for pickups and deliveries, email confirmations and driver ratings.”

Dropoff plans to expand to more cities this year.

“Houston is a natural next step for Dropoff with the close proximity to our Austin headquarters, and as one of the largest U.S. metro areas with strong business growth,” Sean Spector, CEO and co-founder of Dropoff, said in a news release. “Now we can support companies in Houston with best-in-class same-day delivery services so they can focus on other pressing matters rather than worrying about their logistics needs.”

Dropoff uses screened, insured and uniformed agents to deliver goods. Customers place their orders online using a mobile phone, computer or tablet via its website. An agent then accepts the request and arrives to pick up and deliver the goods within minutes.

“With bikes, cars, trucks and vans, Dropoff serves industries including but not limited to healthcare, food and grocery, business services, hospitality and retail,” according to a news release.

Buzz Points Hires Dwayne Spradlin as CEO

Buzz Points CEO Dwayne Spradlin

Buzz Points CEO Dwayne Spradlin

Buzz Points named Dwayne Spradlin, a technology industry veteran, as its new Chief Executive Officer.

The Austin-based company, which creates loyalty programs for banks and local businesses, appointed Spradlin to replace Jay Valanju, the company’s founder. Valanju will become senior vice president of business development and strategic partnerships.

“This is a return for me to the Austin market,” Spradlin said.

During his previous tenure in Austin, Spradlin served as president of Hoover’s, a Dun & Bradstreet subsidiary with local 300 employees. Most recently he lived in Dallas and served as CEO of the Health Data Consortium in Washington, D.C. Before that, he served as CEO of InnoCentive in Boston. He held other executive positions with StarCite and VerticalNet and as Director of Emerging Technologies at PricewaterhouseCoopers.

“Buzz Points is in a growth spurt,” Spradlin said. “It’s growing fast with big ambitions to grow even faster.”

Buzz Points, previously known as Fisoc, has created a merchant-funded rewards platform working with local banks and credit unions and local businesses. The bank’s customers can earn points on every transaction by using their debit or credit cards when shopping. They also earn bonus points for shopping with participating local merchants.

“The whole premise is a very intriguing ecosystem can develop between consumers and merchants and banks in a community,” Spradlin said. “Sitting behind all of this is a very strong sense of buying local, shopping local and banking local.”

Last year, Buzz Points, with 60 employees, closed on $19 million in venture capital funding with a strategic investment from PULSE Network, a wholly owned subsidiary of Discover Financial Services. To date, the company has raised $26.5 million in venture capital.

Since its launch, Buzz Points has expanded to 32 markets in 24 states.

“It’s rolled out to dozens of smaller cities,” Spradlin said. “As the organization ramps up it will go to bigger cities.

Buzz Points is in Denton, Texas, with a population of about 100,000, on the outskirts of Dallas. Buzz Points partners with Point Bank and local merchants there. It is not yet available in Austin, but the city is on the agenda, Spradlin said.

“Austin has a creative, independent and unique culture,” Spradlin said.

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