Category: Austin (Page 5 of 316)

Austin-based DefectDojo, a pioneer in scalable application security, has raised $7 million in Series A funding to meet growing market demand for its platform and to enhance its product offerings.

The funding round, led by Iolar Ventures and Aspenwood Ventures, will enable DefectDojo to accelerate innovation, expand its market presence, and introduce new Pro features designed to deepen Application Security Posture Management (ASPM) intelligence and automation.

With over 38 million downloads and integrations with over 180 security tools, DefectDojo has established itself as a trusted platform for application security and vulnerability management. It is relied upon by many users, including Fortune 10 companies, global banks, government agencies, startups, and individual consultants. As the only open-source solution in the ASPM space, DefectDojo offers a unified platform that automates workflows, aggregates data from security tools, and delivers actionable insights to help organizations effectively manage and mitigate vulnerabilities.

“This investment validates our commitment to transforming how organizations approach AppSec and security as a whole,” said Greg Anderson, Founder & CEO of DefectDojo. “We started our open-source community over a decade ago to streamline repetitive tasks and empower security professionals to focus on strategic initiatives. As we continue developing our DevSecOps platform, we aim to enable security to scale and evolve to meet future challenges.”

DefectDojo’s Pro Edition, now available, builds on the Community Edition by offering enterprise scalability, enhanced visualization, and premium support. The Pro Edition introduces:

• Enhanced Automation: Streamlining workflows to reduce manual tasks in AppSec management
• Advanced Analytics: Providing more profound insights into vulnerabilities and enabling data-driven security decisions
• Data Enrichment: Leveraging Exploit Prediction Scoring to offer more comprehensive intelligence on threats

The company remains committed to its open-source roots. It plans to continue investing in its community-driven platform, which has become one of the most popular open-source security projects.

“DefectDojo has fundamentally changed how security is managed within organizations,” said Lars Leckie, Managing Director of Aspenwood Ventures. “Their unique combination of open-source innovation and enterprise-grade capabilities has earned the trust of organizations of all sizes.”

Mesa, an Austin-based homeowner membership platform, has officially launched, raising $9.2 million in seed funding to address what its founders call a “home cost crisis.”

The $7.2 million seed round was led by Streamlined Ventures with participation from Starting Line, Assurant Ventures, Vera Equity, Redwood Trust Horizons, and Clocktower Ventures, among others. Mesa also secured an additional $2 million in venture debt from Silicon Valley Bank (SVB), a division of First Citizens Bank. The funding will help the company scale its team, expand membership offerings, and add new partners to its Mesa Homeowners Network.

With Americans spending more than $6 trillion annually on homeownership, the costs associated with owning a home are at an all-time high, eating up over a third of household incomes. Co-founders Kelley Halpin and Peyton Hayslette saw an opportunity to provide value back to homeowners, similar to the loyalty rewards available for everyday purchases like coffee, airline tickets, and hotel stays.

“Our vision for homeowner membership is to give you value back for every dollar you spend on your home,” said Halpin, CEO of Mesa. “Consumers get rewards for almost everything they purchase, but when it comes to the biggest expense—your home—there’s no incentive. Mesa changes that.”

Innovative Products for Homeowners

Mesa’s first offerings, the Mesa Mortgage Marketplace and Mesa Homeowners Card are designed to provide rewards and benefits specifically for homeowners:

• The Mesa Mortgage Marketplace: Homeowners can earn 1% of their loan value in rewards points when they originate or refinance a mortgage through Mesa’s marketplace. This equates to $5,000 in rewards on a $500,000 loan. Mesa’s marketplace introduces a new mortgage membership experience similar to a credit card rewards system.
• The Mesa Homeowners Card: This premium credit card rewards homeowners for everyday expenses like monthly mortgage payments, utilities, groceries, repairs, and home goods. Mesa Points can be redeemed at partner brands for travel bookings or reinvested in the home through mortgage payments or refinancing fees.

Looking ahead, Mesa plans to expand its rewards program to include home warranty plans, HELOC originations, insurance products, and more, creating a comprehensive rewards ecosystem for homeowners.

Strategic Partnerships and Industry Leadership

Mesa has teamed up with Visa as a strategic partner, leveraging Visa’s digital payment capabilities to enhance the value of homeownership through rewards. Erin Pursell, Vice President of New Business Development at Visa, expressed excitement about the collaboration: “Our partnership with Mesa brings new solutions to homeowners, aligning with Visa’s mission to empower everyone, everywhere, and helping relieve the financial pressures of homeownership.”

Mesa’s executive team includes fintech veterans from Uber, Robinhood, Bilt Rewards, Block, and American Express. Notable team members include Shannon Cusick, Head of Partnerships, who led business development at Peloton and Amex, and CFO Nadia Asoyan, Robinhood’s first finance hire.

By redefining homeownership through rewards, Mesa is positioned to become a key player in making the most significant financial commitment in many people’s lives more manageable and rewarding.

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Austin-based Lucky Energy, the better-for-you energy drink brand, has closed an oversubscribed $11.75 million Series A funding round led by Brand Foundry Ventures.

Other investors include Imaginary Ventures, Sapphire Sport, and Sugar Capital. This latest round brings the company’s total funding to $26.5 million.

Launched in late 2023, Lucky Energy is already making waves in the energy drink market, defying expectations with rapid growth. The newly secured funds will accelerate its expansion into major retailers by 2025.

Founded by beverage entrepreneur Richard Laver, Lucky Energy has positioned itself as a category disruptor. The company takes a “less is more” approach, using simple ingredients and aiming to inspire consumers to persevere and take risks. “I saw a white space in the market to create a product that entertains today’s consumers and motivates our community to relentlessly chase their dreams,” Laver said.

Lucky Energy’s leadership team includes industry veterans like Hamid Saify, the new Chief Marketing Officer formerly with Liquid Death, and Aaron Sorelle, the Chief Growth Officer, who joins from C4 Energy. The team also includes Tyler Larkin as SVP of Sales and Distribution, who brings key expertise from Liquid Death. The brand plans to use the Series A funding to grow awareness, support strategic partnerships, and scale its retail presence to reach over 8,000 retail locations by the end of the year.

With five flavors featuring super ingredients like maca, taurine, ginseng, and caffeine, Lucky Energy offers a cleaner alternative to traditional energy drinks. As demand grows for healthier options, investors see tremendous potential. Rico Mallozzi, Principal at Sapphire Sport, noted, “With the top three energy brands over 20 years old, the market is ripe for an anti-brand like Lucky Energy. Its rebellious approach and unique brand identity have broad consumer appeal.”

In addition to expanding its retail footprint, Lucky Energy is focused on creating out-of-the-box content, consumer rewards, and innovative product launches that empower its loyal customer base to live boldly and fully embrace life’s challenges. Laver’s vision for Lucky Energy isn’t just about selling a drink—it’s about building a lifestyle brand that connects with consumers on a deeper level.

Andrew Mitchell, Founder of Brand Foundry Ventures, expressed excitement about Lucky Energy’s future, stating, “We believe Lucky Energy is poised to become a major player in the $100 Billion plus energy drink category. Its clean energy focus and talented team set it apart as a brand to watch.”

With its disruptive mindset, experienced team, and growing consumer base, Lucky Energy is well on its way to becoming a leader in the energy drink market, inspiring its customers to “keep going” with each sip.

Colossal Biosciences, the world’s first de-extinction company, has funded The Colossal Foundation with $50 million to apply advanced technologies to wildlife conservation and ecosystem restoration.

“This is new capital that we are bringing to conservation efforts,” said Ben Lamm, CEO and co-founder of Colossal Biosciences.

The foundation will focus on rapidly delivering Colossal’s innovative solutions to conservation efforts around the globe, working closely with local communities and partners to protect species facing extinction.

“We started The Colossal Foundation to ensure that we are delivering our technology solutions into the hands of those who can benefit the most,” Lamm said. “The foundation expands our capacity to quickly bring new technologies into the world, driving innovation in conservation while providing much-needed funding to modernize conservation efforts.”

The Colossal Foundation’s flagship conservation projects align with a ten-year strategic plan. They will focus on species where Colossal’s technologies—such as genetic rescue, biobanking, and the creation of reference genomes—can have the most significant impact. By leveraging advances in artificial intelligence (AI), machine learning, and computational biology, the foundation aims to enhance understanding of species behavior and ecosystems, proactively allowing conservationists to prevent extinction.

The Foundation is launching with three core programs:

1. Saving Today’s At-Risk Species: Partnering with conservation groups, the foundation will apply Colossal’s genetic rescue technologies to save species on the brink of extinction, including the Vaquita, Northern White Rhino, Sumatran Rhino, and Red Wolf. The long-term goal is to develop a toolkit that simplifies genetic rescue processes for conservationists.
2. R&D for Conservation: Colossal will fund and deploy AI, machine learning, and data-driven technologies to understand animal behavior and ecosystems. Current projects include using drones to detect anomalies in elephant habitats and an AI-powered orphaned elephant monitoring system.
3. Ensuring Tomorrow’s Biodiversity: The Colossal BioVault initiative will establish a global biobank to preserve tissue samples from endangered species. The biobank will act as an “insurance policy” for biodiversity, safeguarding genetic diversity in the event of extinction.

The foundation’s work will begin with crucial species-focused projects. These include efforts to stabilize the critically endangered Vaquita, with only 10 to 13 left in the Gulf of California, and support for Indonesia’s Sumatran rhino conservation program through advanced reproductive technologies.

Matt James, Executive Director of the Colossal Foundation, emphasized the urgent need for innovative conservation tools. “There is no more time to wait to protect the species we have on Earth today if we want to make sure they are still here in 10, 50, and 500 years,” he said.

The Colossal Foundation is set to empower conservation efforts globally, bringing cutting-edge science into the hands of those working to preserve our planet’s most vulnerable species.

Colossal Biosciences, founded in 2021, has raised $235.5 million to de-extinct species. Lamm founded the company with George Church, a Harvard geneticist and pioneer in personal genomics and synthetic biology. Colossal also spun out Form Bio, a software platform, which raised $30 million. The company is based in Dallas but has offices in Austin, Boston, Santa Cruz, California, and Melbourne, Australia.

Colossal Biosciences is pioneering species de-extinction using CRISPR technology to restore endangered ecosystems. The company aims to use these technologies to protect critically endangered species. It is working to bring the Woolly Mammoth, Thylacine, and Dodo birds back to their natural habitats.

PepsiCo, Inc., announced on Tuesday a $1.2 billion acquisition deal with Austin-based Garza Food Ventures LLC, also known as Siete Foods.

The acquisition is expected to significantly enhance PepsiCo’s portfolio by integrating Siete’s authentic Mexican-American brand while expanding its presence in the better-for-you food market. This strategic move aligns with PepsiCo’s efforts to diversify its offerings with products that meet the growing demand for healthier, more inclusive food options.

Founded in 2014, Siete Foods is renowned for its heritage-inspired tortillas, salsas, seasonings, cookies, and snacks, which have become a staple in U.S. grocery stores, club outlets, and organic retailers. With its roots in Austin, Siete Foods started as a family business focused on creating delicious food that pays homage to Mexican-American culinary traditions.

Siete makes grain-free chips, salsas, grain-free tortillas, cookies, seasonings, and more.

According to Pitchbook, Siete, founded by Miguel Garza, Veronica Garza, and Aida Garza, has raised $91 million to date. It has also gone through the SKU accelerator as part of its portfolio of consumer products goods companies. The company has 132 employees.

 “The Garza family has built a very special brand,” PepsiCo Chairman and CEO Ramon Laguarta said in a news release. “Their passion for making and sharing food shines through in every Siete product, and that’s a passion we share at PepsiCo.” He emphasized the importance of authenticity in the Siete brand and PepsiCo’s commitment to expanding its multicultural portfolio with products that resonate with diverse consumers.

Miguel Garza, CEO and Co-Founder of Siete Foods, echoed this sentiment, noting that this partnership with PepsiCo marks a new chapter for the company. “We hope this next chapter for Siete serves as inspiration for other Latino businesses, showing that it’s possible to build a thriving brand that honors our heritage and celebrates our culture,” Garza said.

The acquisition, expected to close in the first half of 2025, pending regulatory approval, underscores PepsiCo’s ongoing commitment to sustainability and inclusivity. The company’s broader vision, guided by the PepsiCo Positive (pep+) strategy, focuses on sustainability and human capital, aiming to inspire positive change while promoting growth within planetary boundaries.

PepsiCo has enlisted Centerview Partners LLC and Citi as financial advisors for the transaction, while Gibson Dunn & Crutcher LLP provides legal counsel. Siete is being advised by Lazard on the financial side, with Weil, Gotshal & Manges LLP, and Armbrust & Brown, PLLC acting as legal advisors.

This acquisition positions PepsiCo to further diversify its offerings and cater to an ever-evolving consumer base seeking authentic and health-conscious food options. It will also help preserve the cultural legacy behind Siete’s unique products.

Siete Family Foods: The Garza Family

The Garza family gets it all the time: “What is it like to work with your family?” Around here, family isn’t just relatives. It’s everyone who walks in and out of our workplace, or rather, our Siete home.

mbue, an AI-first vertical SaaS company focused on automating the architectural review process, announced the closure of a $1.8 million pre-seed funding round.

This strategic investment will accelerate mbue’s mission to reduce costly architectural errors through advanced AI, setting the stage for a more efficient and error-free construction industry.

Founded to build a better world by minimizing architectural mistakes, mbue has developed an innovative web-based platform that uses AI to review architectural drawings instantly. The platform currently focuses on change control, with plans to expand into cross-coordination functionality and code compliance in the future. By offering architects and builders a tool that reduces time, cost, and liability exposure, mbue aims to eliminate inefficiencies that plague the construction process.

“mbue was born from a frustration I personally experienced as an architect,” Jean-Pierre Trou, CEO and Founder of mbue said in a news release. “I’ve spent countless hours manually reviewing thousands of drawings. It’s astonishing that in 2024, we’re still relying on PDF tools to manually redline drawings, leading to over $100 billion in wasted costs annually due to errors, changes, and omissions. mbue’s technology will change that by identifying and correcting costly mistakes through AI, with a future goal of generating flawless, data-driven designs.”

The oversubscribed $1.8 million pre-seed round saw participation from notable investors, including Techstars, Geek Ventures, 2045 Ventures, Spatial Capital, Factorial Capital, Everywhere Ventures, and The MBA Fund. This funding will support mbue’s platform development, team expansion, and enhanced customer support, positioning the company to lead the market in AI-driven architectural review.

The company is dedicated to empowering architects and builders to focus on high-impact work by automating the quality control process with user-friendly, AI-powered tools.

Knit, an AI-driven platform designed to streamline consumer research, has raised $9 million in its latest funding round.

Led by Revolution’s Rise of the Rest Seed Fund, the round saw participation from new investors, including Osage Venture Partners, GFT Ventures, Visible Ventures, and Massive Ventures, along with existing investors Silicon Road Ventures, Felton Group, and Alumni Ventures. The company has partnered with major brands such as T-Mobile, NASCAR, the WNBA, Mars Wrigley, Overtime, and JBL.

Knit’s platform enables insights professionals and researchers to conduct comprehensive consumer research in a fraction of the required time. The platform combines quantitative and qualitative data within the same survey, allowing for agency-quality insights at DIY costs. Over the past year, Knit has experienced rapid growth, onboarding more than 30 enterprise brands and increasing its annual recurring revenue fivefold.

The new funding has fueled the launch of Knit’s latest offering, Report-Ready Insights, which leverages Researcher-Driven AI to streamline the most time-consuming aspects of research. “At Knit, our goal has always been to make researchers’ jobs easier,” Aneesh Dhawan, Co-Founder and CEO of Knit, said in a news release. “Report-Ready Insights allows our customers to go from business questions to stakeholder-ready reports in days, without compromising speed, cost, or quality.”

Knit’s AI platform optimizes research by working alongside human researchers, making the process faster and more customizable. “Unlike off-the-shelf AI tools that deliver generic outputs, Knit starts with the researcher,” Raahish Kalaria, Co-Founder and CTO of Knit, said in a news release. “Our AI enhances the expertise of researchers rather than replacing it.”

David Hall, Managing Partner of Revolution’s Rise of the Rest Seed Fund, expressed enthusiasm about Knit’s innovative approach. “Knit’s rapid adoption by leading brands speaks to the value they provide in the consumer insights,” Hall said.

Knit continues to make waves in the industry. It recently presented with Mars Wrigley at the Corporate Research Conference in New York and is planning to present with T-Mobile at The Market Research Event in October 2024.

Founded in 2021, Knit is an AI-native platform that automates the consumer research process for enterprises. The company aims to democratize access to high-quality, agency-level research, enabling brands to make smarter, data-driven decisions.

GreenLite, a construction technology company focused on making permitting faster and more predictable for builders, developers, and municipalities, announced it has raised $28.5 million in a Series A funding round.

The investment, led by Craft Ventures with participation from 53 Stations, Trust Ventures, and LiveOak Ventures, comes less than a year after GreenLite’s launch from stealth. The funding will enhance GreenLite’s technology platform, expand its Private Plan Review service, and enter new markets, furthering its work with local government agencies.

Traditional construction permitting processes have long been plagued by complexity and unpredictability, creating roadblocks for developers and municipalities alike. The COVID-19 pandemic worsened these inefficiencies, as local governments prioritized other matters, delaying permit applications and contributing to economic slowdowns that cost billions annually.

“Across the U.S., there are 20,000 jurisdictions with 500,000 different forms and processes for building permits, but 95% of the applicable building code is the same,” James Gallagher, Co-Founder and CEO of GreenLite, said in a news release. “As a Private Provider, we consolidate these differences and allow developers to work with one privatized regulatory agency—GreenLite. This streamlines development timelines, saves millions of dollars, and supports local governments in ways that traditional permitting software cannot.”

GreenLite’s technology and Private Plan Review service automate the permitting process across jurisdictions, reducing the time and labor required by 75%. As the first software-driven Private Provider in the industry, GreenLite’s platform integrates construction plans, zoning data, local building codes, and expert compliance reviews into a single system, helping developers and governments streamline and modernize the construction permitting process.

“The most driven founders are those who’ve lived through the problem they’re solving,” Bryan Rosenblatt, Partner at Craft Ventures, said in a news release.

British Airways has announced an expansion of its service from Austin-Bergstrom International Airport (AUS) to London Heathrow (LHR). Starting March 31, 2025, the airline will offer twice-daily nonstop flights between Austin and London, six days a week.

The new flights will be serviced by Boeing 787-10 aircraft, British Airways’ most fuel-efficient model. The schedule includes:

• New Service (Monday-Saturday):
  • Austin to London: Departs 10:15 p.m., arrives 1:40 p.m. +1 day.
  • London to Austin: Departs 4:05 p.m., arrives 8:20 p.m.
• Existing Service (Monday-Sunday):
  • Austin to London: Departs 6:05 p.m., arrives 9:35 a.m. +1 day.
  • London to Austin: Departs 11:50 a.m., arrives 4:00 p.m.

Austin Mayor Kirk Watson noted that this expansion enhances the city’s global presence and strengthens economic opportunities in business and tourism. Airport CEO Ghizlane Badawi highlighted the flexibility the new schedule offers passengers, while British Airways’ Neil Chernoff celebrated the ten-year milestone of the Austin-London route.

Austin, known for its vibrant music scene and innovative tech landscape, has earned another accolade: the 10th-best city in the U.S. for hybrid working. Balancing remote work with in-office days has become a priority for the modern workforce, and Austin has proven itself to be a top contender in this new era of flexibility.

In a world where hybrid working is on the rise, a staggering 42% of office workers are willing to take a 10% pay cut to enjoy the flexibility of remote work. Only 16% would even consider a new role that offers no remote days, highlighting the importance of work-life balance in today’s job market. With more than one in five Americans predicted to work remotely by 2025, cities offering the right amenities and opportunities are becoming increasingly desirable.

According to a recent USA TODAY Blueprint analysis examining factors like internet access, commute times, cost of living, and average wages, Austin stood out among the best cities for hybrid working. The city ranked in the top 15 for four of the ten factors analyzed, securing its place as a top choice for those who crave the flexibility of hybrid work.

One of Austin’s key strengths is its lightning-fast internet, with an average download speed of 426Mbps, making it the 6th fastest in the nation. This ensures remote workers can seamlessly connect to virtual meetings and collaborate with colleagues without a hitch. Additionally, Austin boasts the 9th highest number of free WiFi hotspots, allowing employees to work from cafes and parks or while exploring the city’s diverse neighborhoods.

For those days when in-office work is required, Austin’s 13th-lowest commute time—just under 23 minutes—adds to the city’s appeal. The short commute allows workers to maximize their time and maintain a healthy work-life balance, whether heading into the office or returning to the comfort of their homes.

Moreover, Austin’s strong economy is reflected in its median household income of $89,415, the seventh best among the cities analyzed. This high-income level, combined with the city’s other strengths, makes Austin an ideal destination for those seeking a fulfilling hybrid working experience.

As the demand for hybrid work continues to grow, Austin’s combination of fast internet, abundant free WiFi, short commutes, and competitive wages positions it as a leader in the future of work. For those who call Austin home or for those considering a move, the city offers the perfect blend of flexibility, productivity, and quality of life.