Austin Weekly Deal Highlights
by Mason Rathe
Hope you had a great Labor Day! It’s been a long weekend, so be sure to read your Austin Weekly Deal Highlights before work tomorrow. I mean, you don’t want to be the person that doesn’t know about the Kony acquisition… That’s right, this week we saw fintech platform Kony get picked up for $559M! Kony, who has 1,500 employees and helps banks with digital applications and online platforms, was acquired Swiss banking software provider Tenemos .

Austin Financing Activity
  • Cerberus Interactive, a mobile games company, raised $1.75M in funding co-led by Steve Huffman, Reddit co-founder and CEO, and Blake Chandlee, TikTok Chief Business Officer.
  • RoverPass, an RV and campsite reservation platform, raised $827K in new equity funding. Investors are undisclosed. The additional funding follows investment from Capital Factory and ATX Venture Partners.

Austin M&A Activity
  • Kony, an Austin-based enterprise app development platform, has been acquired by Temenos, a Swiss banking software solutions provider for a value of $559M and a reported earn-out of $21M. Kony has raised more than $150M since its founding in 2007.
  • Bazaarvoice, a software developer for customer ratings and reviews, acquired New York-based Influenster, a product discovery startup. Terms of the acquisition were not disclosed. Both companies power the product ratings and reviews seen on many e-commerce websites. Bazaarvoice was founded in 2005 and acquired by Marlin Equity Partners for $521M in 2018.

Other Regional Deal Activity
  • Theatro, a Dallas-based app developer that connects employees with enterprise apps, received strategic funding from Cisco Investments and Honeywell Ventures.
  • Playful, a Dallas-based operator of an independent game studio, raised $23M of venture funding from undisclosed investors. The company has raised over $60M to date.
  •  OncoNano Medicine, a Forth Worth-based company developing an imaging agent to help surgeons better remove tumors, received $15.4M of grant funding from Cancer Prevention and Research Institute of Texas. The company also recently raised a $35M Series A led by Salem Partners.
  • Emtoro Biosciences, a San Antonio-based developer of novel therapeutics intended to prevent onset and recurrence of cancer, received $3M of grant funding from Cancer Prevention and Research Institute of Texas.
  • Life Warmer, an Addison-based developer of treatment devices intended to enhance the delivery and outcomes of trauma, surgical, and critical care, raised $1.22M of angel funding from undisclosed investors.
  • NextPlane Solution, a Dallas-based healthcare measurement platform, was acquired by Press Ganey Associates, via its financial sponsors that include Ares Management. Press Ganey is a South Bend, IN-based provider of patient experience measurement and performance improvement solutions.

Austin People
  • FlashParking, a local mobility technology and parking solutions provider, hired Alan Poulton as the new Executive Vice President of Sales. Poulton was previously Senior VP of Sales and Operations at Amano McGann, a Minnesota-based parking solutions provider.

Austin News
  • Cotton Creek Capital, a local private equity firm, closed its third fund with $215M in capital commitments. The firm targets businesses with EBITDA between $5M and $15M, investing between $10M and $40M in equity ranging from buyouts, recapitalizations, buy-and-builds to corporate divestitures. They focus on manufacturing, value-added distribution, industrial, specialty chemical, building products, food and beverage and business services sectors. 
  • Real estate tech platform Opcity is moving forward with its Austin expansion plans. Opcity will expand to Austin’s eastern edge of the CBD, with eventual plans to add 200 more jobs. The LiveOak portfolio company was acquired by Move Inc., which operates Realtor.com, last year for $210M.
  • Quansight Futures announced the launch of its early-stage investment fund, Quansight Initiate. The expected $20M fund will focus investment on startups that use open-source technologies and are active in education, IOT, data-management, data-science, machine-learning, and artificial intelligence. Bradden Blair, a former information systems professor at the University of Utah, was appointed as the fund’s managing partner. The fund was launched with investments in Tenavox, Anaconda, AutoAuto, OpenTeams, SaveDay, FairOSS, and Vertalo.
  • Ethos, a San Francisco-based life insurance tech company, announced it is opening an office in Austin to expand its engineering team. The announcement follows its recent $60M Series C led by Google Ventures. To date, the company has raised more than $100M. Ethos is currently hiring for eight positions.
  • eBay launches its global small business training program, Retail Revival, in Austin. The program has helped more than 400 small business generate an additional $13M in revenue. Applications close on September 24.
  • The top venture capital funding deals and mergers & acquisitions in August 2019
  • Seattle-based cannabis company, Leafly, sets up an engineering and product hub in Austin. Leafly now has more than 30 employees in Austin.
  • Austin's Nine Banded Whiskey inks NFL partnership

Thank you!
Mason Rathe
If a missed a deal, major announcement, etc., shoot me an email and happy to include in the next one.

LiveOak Venture Partners is an early stage venture capital firm investing in Texas-based companies. Think you company might be a fit, shoot me an email at mason@liveoakvp.com