The Zebra, an insurance comparison marketplace, this week announced it has closed a $38.5 million funding round.
The Austin-based
startup, founded in 2012, has raised $101.3 million to date.
Accel
led the funding round with participation from existing investors Silverton
Partners, Daher Capital, Floodgate Fund, Ballast Point Ventures, The Zebra’s
CEO Keith Melnick and new partner Weatherford Capital
The
Zebra also reported its website gets 1.3 million visitors per month. And its
revenue grew almost 200 percent to nearly $37 million in 2019, according to a
news release.
The
company’s annual run rate is now more than $60 million, according to a news
release.
“2019 was a great year for The Zebra with
outstanding growth and I couldn’t be more pleased with where we are headed into
2020,” Keith Melnick, CEO, The Zebra, said in a news release. “We have a great
team, a great product that keeps getting better, a fantastic group of investors
and are positioned to continue our exponential growth in 2020.”
The
Zebra works with more than 100 auto insurance carriers to provide price
comparisons for shoppers.
“I think The Zebra is the most interesting company in insurtech and one of the fastest-growing consumer businesses we work with globally. Over time, I think consumers – whether they’re buying insurance products from 200-year-old companies or startups – are going to want to compare options and get the best price possible. We expect The Zebra will be the first place consumers go when they want to buy insurance,” John Locke, Partner at Accel, said in a news release.
The
Zebra is also focusing on growing its new homeowner’s insurance comparison
product in 2020.
The Zebra, which has 199 employees, recently moved into a 43,000 square foot custom-built office on Austin’s East Side with a capacity for 300 employees.
The variety of the finalists shows the breadth and depth of Austin’s booming startup community. The finalists come from a wide range of industries including beauty care, gaming, biotechnology, drones, and biodegradable plastics.
The Austin finalist in the Consumer Technology & CPG Category is Renzoe Box, which created a customized portable makeup kit.
In the Health, Wearables & Wellbeing category, TruPigment, is a cell-based pigment restoration procedure by Austin-based TeVido Biodevices, is a finalist.
In the Entertainment & Content category, St. Noire, an AI-hosted cinematic board game by Virsix Games, based in Austin, is a finalist.
In the Smart Cities, Transportation & Logistics category, Flugauto, which designs and operates cargo drones, of Austin is a finalist.
And in the Social & Culture category, Applied Bioplastics, which is working to mass-produce biodegradable plastics, is a finalist.
The pitch event takes place on March 14-15th at the downtown Hilton Austin. Winners will be selected in each category including one “Best in Show” winner.
The pitch competition received more than 900 applications globally. The finalists include representatives from India, Australia, Gibraltar, the Netherlands, Portugal, South Korea, Denmark, Egypt, the U.S. and Germany, and others.
The competition’s judges come from NEA, Accel, Backstage Capital,
Mayfield Fund, Google X, Flybridge Capital, Kapor Capital, and more.
This year, SXSW Pitch added three new categories: consumer technology and consumer packaged goods, smart cities, transportation and logistics, and innovative world technologies.
“With our largest class of applicants yet, we’re pleased to see
that SXSW Pitch continues to be a stage for the tech industry’s best and
brightest to showcase their groundbreaking ideas and take their companies to
the next level,” SXSW Pitch Event Producer Chris
Valentine said in a news release.
Elon Musk posted a poll on Twitter asking people to vote yes or no for Giga Texas.
The vote is 80.2 percent “Hell Yeah” in favor late Wednesday night with two hours left to vote. A gigafactory in Texas would presumably produce Tesla cars or trucks. But Musk did not provide any specifics on what Giga Texas might entail.
Some speculate it could be the site for making Tesla’s new Cyber Truck. When Toyota wanted to grab bigger market share for its Toyota Tundra truck, launched in 1999, it opened a plant in San Antonio, Texas. California is the state with the most pickup truck owners, followed by Texas.
Tesla, based in Palo Alto, makes electric cars and last year it launched the Tesla Cybertruck, with prices starting at $39,000. It is expected to enter production next year. Telsa’s main plant is in Freemont, California.
In addition, Musk changed the location of his Twitter bio to Austin, Texas, which got a lot of people talking on Twitter. He has since changed it back. Apparently, Musk is in Texas on Thursday, according to his Tweets, to visit SpaceX’s facility in Boca Chica for career day. SpaceX is building its Starship testing prototype in South Texas.
Starship career day at the Stargate building (Boca Chica Blvd, TX) this Thursday from 3pm to 9pm!
The career fair is in the Stargate building from 3 p.m. to 6 p.m. and SpaceX is hiring to staff four production shifts for around the clock operations seven days a week, according to Musk’s tweets.
But aside from the Space operations, the news site, electrek, posted a story at 1:15 a.m. on Wednesday speculating about a Texas gigafactory. Tesla already has a gigafactories in Nevada and New York and a gigafactory in Shanghai, China with plans for a new one in Berlin, Germany, according to the article.
“Texas has been in Musk’s thoughts recently. On Monday, he announced an AI hackathon amid a recruiting effort for Tesla’s autopilot team, stating that Tesla is also looking for “world-class” chip designers to join Tesla’s team in Palo Alto, California, or Austin,” according to electrek.
Sputnik ATX has announced the latest group of four startup companies accepted into its Winter 2020 Cohort.
The startups include Austin-based Mod Tech Labs, which is a spinoff of Underminer Studios. The startup works with production studios to create 3D images and videos.
Austin-based Trashbots is also in the cohort. It makes programmable robotics kits for K-12 educators that include lesson plans in coding.
RxThat, based in Boston, makes a mobile app that allows patients to compare prices for prescription drugs to get the lowest price available. It was created at MIT by doctors to bring price transparency to the pharmaceutical industry.
And Kanthaka, based in Houston, which brings personal trainers and yoga instructors to any location on demand through its app. It is currently available in eight cities.
In addition, Sputnik
ATX has selected Sandbox Systems founded by a University of Texas Austin student
to participate in its Entrepreneur in Residence program. Sandbox Systems is a
cloud-based app development program.
This is the fifth
cohort selected for Sputnik ATX, an Austin-based startup accelerator focused on
growth companies since its founding in 2017.
“There were over 700
companies that started this application process,” Oksana Malysheva, CEO and
managing partner of Sputnik ATX. “The five that we have selected to invest in
are those who are tackling big problems in their markets and making a
difference in the world.”
The four companies
participating in the winter cohort receive three months of mentoring, office
space, and $100,000 in seed funding.
“Like Sputnik itself, our
new batch of founders are all creating something that will have a positive
impact on the world,” Joe Merrill, co-founder of Sputnik ATX said in a news
release.
This year, Silicon Hills News is following up the calendar party by hosting an event, BigIdeasATX, to dive deeper into the big ideas being generated by some of those featured in the calendar. The first event will be held on Feb. 27th from 6 p.m. to 8 p.m. at Galvanize. It will feature Arlo Gilbert, co-founder of Osano, Janice Omadeke, founder of The Mentor Method, Eric Salwan, business development director at Firefly Aerospace and Michelle Breyer, chief operating officer of SKU Accelerator. Join us!
Health
Tech: How Tech, & Austin, Will Help You Live Longer Lives
When: 6 p.m. to 7:30 p.m.
Where: Austin
Public Library, 701 W Cesar Chavez, Austin, TX
Why: Austin Forum: Join us as two leaders in Austin’s health tech ecosystem—Dr. Jordan Amadio, neurosurgeon and innovator at Ascension and Dell Med, and Scott Collins PhD, biotech entrepreneur and co-founder of BioAustin—share the current state and future possibilities for health technologies and for the Austin opportunities in everything from wearables and diagnostics to robotics and rehabilitation technologies. For more info.
Feb. 5th
Ask
Me Anything! With MassChallenge Texas, Tarmac, DivInc
Why: Interested in joining an accelerator? Ask the Alumni’s of MassChallenge Texas + DivInc + Tarmac! Are you an entrepreneur or startup looking for funding, mentorship, office space, or knowledge on how to scale and grow your business? Then swing by for a happy hour at Relay Coworking to learn more about the upcoming 2020 accelerator programs and to ask all your questions from a group of alumni panelists that were part of MassChallenge Texas, DivInc, and Tarmac! Food & Beverages will be provided. For more info.
Feb. 6th
Austin Open Coffee
When: 8:30 a.m. to 10:30 a.m.
Where: Houndstooth Coffee, 401 Congress Ave
Why: A semi-monthly meetup for entrepreneurs and investors to share their experience, to motivate, and to explore ideas. For more info.
Feb. 6th
The Better Startup Workshop
When: 5:30 p.m.. to 7 p.m.
Where: Capital Factory, 701 Brazos Street, Austin,
TX 78701
Why: Are you curious about whether and how Diversity & Inclusion (D&I) can benefit your startup? Do you support D&I, but don’t know where to find talent from diverse backgrounds? Are you looking for ways to make your company a more inclusive and welcoming environment? Regardless of how you feel about D&I, you are invited to attend our Better Startup workshop, where you will learn how D&I can help you grow a happier and more successful company. For more info.
Why: 20/20 Vision for the Next Decade – Austin Leaders discuss key strategies/initiatives for 2020 and beyond, that touch on a variety of areas of the employee experience. For more info.
Feb. 6th
Edtech Austin and UT Slow Pitch Think Tank
When: 3 p.m.to 5 p.m.
Where: Capital Factory, 701 Brazos Street, Austin,
TX 78701
Why: Join an interactive thinktank and pitch session where startups, mentors and the audience will dialogue and hone startups’ products so that they will transform learning and penetrate K-12 school markets. Selected edtech startups will provide demos, evidence of real/potential impact, and marketing/monetization plans prior to SXSWedu. For more info.
Feb. 11th
How to Maximize Your Startup’s Reach at SXSW 2020
When: 6:30 p.m. to 9:30 p.m.
Where: Galvanize, 119 Nueces St., Austin, TX
Why: The Annual SXSW Conference & Festival is just around the corner! Join Founder Institute Texas Managing Director, Martin Martinez as we get to know Hugh Forrest, Chief Programming Officer of SXSW, on how you can get the most out of your experience and expand your startup’s presence in March. For more info.
Feb. 19th
Austin Technology
Council: Leadership Dinner: Economic Development Within the Tech Community
When: 5 p.m. to 8 p.m.
Where: Max’s Wine
Dive, San Jacinto Blvd., Austin, TX
Why: Austin’s economy is experiencing incredible growth and development. This level of prosperity presents a myriad of opportunities for local Austin tech companies looking to expand. Attend our February 19 Leadership Dinner to discuss how to take advantage of the opportunities and navigate the challenges brought about by Austin’s expansion. For more info.
Feb. 19th-20th
IAA: UT Space Traffic
Management Conference
When: Wednesday, Feb 19 – Thursday, Feb 20
Where: University of Texas
at Austin’s Mulva Conference Center in the EER Building at 2501 Speedway.
Why: You are invited to join the Dell Black Networking Alliance at a networking Happy Hour in celebration of Black History Month! Please RSVP here to confirm your attendance. For more info.
Feb. 21st
AnitaB.org
Austin Women in Technology: Journey to Executive Leadership
When: 5 p.m. to 8 p.m.
Where: Google Austin, 500 West 2nd Street, Austin, TX 78701
Why: Join us for an exciting afternoon of networking and learning from local Austin Technology executives who will share lessons learned on their journey to executive leadership. This event is the first in a series of events planned to engage and grow our local IT executive membership throughout 2020. The target audience for this event is women in tech with 10 or more years of experience or manager level and above. For more info.
Feb. 25th
Pre-SXSW Startup Showcase
When: 6:30 p.m.to 8:30 p.m.
Where: Capital Factory, 701 Brazos Street, Austin,
TX 78701
Why: Come check out the startups from our group showcasing their products and wares at their tables. Talk to the founders, discover some exciting startups and support them. For more info.
Feb. 25th
Do Something Big with
AI in 2020
When: 6:30
p.m. to 8:30 p.m.
Where: Hypergiant, 101 W. 6th St. Suite
400, Austin, TX
Why: The world is changing before our eyes and technology is advancing like never before. Join GA and Hypergiant for a special thought leadership event that brings together business leaders, innovators and product managers for a discussion on today’s most important technology shift towards automated machine learning and how this is changing the way organizations and their data scientists operate. In this discussion, we’ll talk about practical ways to incorporate AI to deliver an explosive impact on any company’s bottom line. For more info.
Feb. 26th
PowerUp: AI and the New Skilling of Today’s Workforce
When: 4 p.m. to 6 p.m.
Where: Accenture 323 Congress Ave. Austin, TX 78701
Why: Austin Chamber of Commerce: How are AI and other emerging technologies being used to augment jobs? From business to government and academia, how can organizations “new skill” workers for the entirely transformed set of skill required for tomorrow’s workforce? What pathways exist? Join us over drinks and light bites as we explore these topics. For more info.
Feb. 27th
TexChange: Working with Local and National
Press: How to Upgrade Your Marketing Effort
When: 11:30 a.m. to 1 p.m.
Where:
Capital Factory, 701 Brazos Street Austin,
TX 78701
Why: Join us for a panel discussion of Public Relations and Media experts. We’ll uncover how to think beyond the typical brand marketing avenues and share the story of your organization to new audiences. For more info.
Feb. 27th
BigIdeasATX
When: 6 p.m. to 8 p.m.
Where: Galvanize, 119 Nueces St, Austin, TX.
Why: Join Silicon Hills News as we feature some of the innovators in Austin shaking up the city with their big ideas.A series of lightning interviews featuring some of the founders from our 2020 Austin Startup Calendar: Arlo Gilbert, Co-Founder of Osano, Janice Omadeke, Founder and CEO of The Mentor MethodEric Salwan, Director of Business Development, Firefly Aerospace and Michelle Breyer, Chief Operating Officer of SKU. For more info.
His family recognized his penchant for collections at
an early age. In fourth grade, King was a bit of a loan shark. He would loan
kids a dollar and he would collect $2 in repayment, he said.
King’s entrepreneurial spirit continued when he went to the University of Tulsa. In 2012, he started Invoiced as a side project from his dorm room. As a contract software developer, King kept getting hired by companies to build a billing system to handle invoices. At that time, there were only a few options on the market aside from building them in house, he said. So King created Invoiced to handle billing for companies.
A few years later King graduated with a computer science degree and moved to Austin. That’s where he met his co-founder, Parag Patel. They were riding the elevator together to an early-morning tech meetup at Capital Factory and they bonded over breakfast tacos.
“And it went from a side project into a full-fledged
business,” he said.
At the time, they were thinking about taking outside
funding, but the amount of time it would take to pitch investors would take
away from the focus on the business, King said. So, they decided to put their
energy and time into pitching customers, he said.
“We got the equivalent of what an investor would
provide just by focusing on customers,” he said.
The theme throughout the company is Invoiced has been laser-focused on its customers, King said.
Initially, the Invoiced product was very bare-bones. It was a form King put together. Companies would fill out the form and it would give them a PDF invoice back. King registered the domain name InvoiceGenerator.com and that attracted customers.
In 2013, Invoiced started adding features and launched a paid product that kept track of invoices, allowed for recurring billing and accepting credit cards and Automated Clearing House or ACH payments, King said. Now, Invoiced is a subscription-based business with different rates for small businesses and enterprise companies.
Invoiced doesn’t charge any processing fees on top of
its subscription, King said. It works with companies of all sizes, he said. One
large company Invoiced worked with was paying $3 million a year in credit card
processing fees. Invoiced switched them over to ACH payments, which are
electronic payments that take money directly from a bank account. Now, they only
pay ten cents on each transaction, King said.
“That’s a very significant cost saving,” he said.
In 2019, Invoiced, which has more than 20,000
companies on its platform, brought on several new customers including Uber,
Ticketmaster, Boys and Girls Clubs, Sprint and the Dallas Stars. It also
processed more than $10 billion in receivables. Since its launch, Invoiced has
processed close to $50 billion in receivables, according to the company.
Last year, Invoiced doubled its employees to 10 and
hired Chris Couch, a veteran software revenue leader, as the company’s first vice
president of sales. And it moved operations out of Capital Factory to a 2,500
square foot office off Southwest Parkway.
In addition, the company launched Invoiced Payments by
partnering with JPMorgan Chase & Co. That partnership brings payment
processing capability to Invoiced’s customers. And the company also announced a
partnership and integration with Oracle NetSuite.
Houston is the most populous city in Texas and the fourth-most populous city in the U.S.
Capital Factory, an Austin-based accelerator, last week announced it has expanded operations into Houston by merging with Station Houston.
It is part of the Texas Startup Manifesto strategy Capital Factory Director Joshua Baer has articulated in the past about the major Texas cities working together to create a vibrant statewide technology industry.
“Capital Factory is one
of the top startup development organizations in the country. By partnering with
Station Houston and expanding their footprint into the Ion, commitment to
Houston’s entrepreneurs is clear,” Harvin Moore, President, Houston Exponential,
said in a news release.
Station Houston, founded
in 2016, focuses on nurturing startups in Houston.
“We’ve learned over the years that Metcalfe’s Law - The Network Effect - applies to our startup portfolio. The more high-quality startups we have across a diverse range of industries, the more investors, big companies, and big government want to get involved. Uniting with Station Houston will see benefits run both ways,” Gordon Daugherty, Co-founder, and President, Capital Factory, said in a news release.
Station Houston will
operate out of its current location at 1301 Fannin and then move into a new
space at the Ion in early 2021.
“As we continue to develop our innovation economy in Houston and prepare for the opening of the Ion in January 2021, there is no better partner than Capital Factory to serve the needs of our entrepreneurs. For years, they have demonstrated their commitment to startups across Texas, helping them build their ideas through mentorship and introducing them to venture capital from around the country. I am incredibly excited to have them at the Ion. There are great things to come for the entrepreneurs of Houston,” Gabriella Rowe, Executive Director, The Ion, said in a news release.
The partnership also
makes Capital Factory a founding tenant of the Ion, which will serve as a
central innovation hub for all of Houston.
In 2018, Capital Factory expanded to Dallas, and now has a presence in three of the state’s major cities.
Stoplight, which manages application
development software for companies, announced this week that it has raised $6
million in additional funding.
The Austin-based startup
closed its Series A round of funding co-led by Next Coast Ventures and Bill
Wood Ventures.
To date, Stoplight has
raised $10 million. The company plans to use the funding for engineering,
product development and customer service.
Stoplight’s technology
helps organize and manage more than 22,000 Application Program Interfaces or
APIs.
“With IoT and AI poised to rise to new heights
of integration in the coming decade, enterprises finally have the opportunity
to unburden their microservices architecture,” Stoplight CEO Marc Macleod said
in a news release. “Next Coast Ventures and Bill Wood Ventures have deep
experience building lasting B2B companies, and we couldn’t ask for better
partners to grow Stoplight to the next phase of success.”
Spotlight first came to
Austin in 2015 to participate in the Techstars program. Last year, the company
launched its Stoplight Studio. It saw more than 200 percent year over year
growth in 2019 and it hired 15 new employees and launched two new products. Stoplight has attracted
more than 500 paying customers in a vast array of industries including
Honeywell, Zendesk, and SendGrid.
“Stoplight created the
category of API design management, and their incredible traction validates what
the market needs,” Mike Smerklo, co-founder and managing director of Next Coast
Ventures said in a news release. “API-first design is becoming a fundamental
component of enterprise engineering, and we have full confidence that Stoplight
will only deepen their category leadership in the next several years.”
“The online world is
evolving into a network of connected sensors and smart devices,” Bill Wood,
general partner at Bill Wood Ventures, said in a news release. “Without
adequate API design management, the next evolution will never reach its full
potential. Stoplight is an integral part of enabling developers to design our
new online world.”
Mike Millard, managing director of MassChallenge Texas in Austin
At the South Congress Hotel last week, MassChallenge Texas officially kicked off its next application cycle for its accelerator programs in Austin and Houston.
The MassChallenge Accelerator has completed two
cohorts in Austin and one in Houston since launching in 2017.
The Houston and Austin application cycles kicked off simultaneously
with a giant video screen beaming in the Houston MassChallenge leaders to talk
about their program.
Meanwhile, a packed house of elbow-to-elbow people watched videos and then listened to Mike Millard, managing director of MassChallenge Texas in Austin talk about the success the program has had in its first few years.
This year, the MassChallenge Austin and Houston
program will run simultaneously. Those selected for the Austin program will
compete for $500,000 in cash prizes and those selected for the Houston program
will compete for $250,000 in cash prizes.
The application period began this week with
applications closing March 9th. Judging and the selection process
will begin with finalists being announced in late May. The program begins in
June and runs through September.
“Up to 100 startups will be selected for each program,”
according to MassChallenge Texas. “Participating startups will receive
six-month of free office space, access to industry experts and mentors, a
bespoke curriculum, access to top corporations and more, all at zero cost and
for zero equity.”
In addition to the Texas program, MassChallenge runs
programs in Boston, Israel, Mexico, Switzerland, and the UK.
In 2019, MassChallenge awarded TRAXyL, a startup that
installs high-speed Internet on roadways, received the top prize of $150,000 in
cash. It also gave $100,000 award each to including Collective Liberty, based in
Washington, D.C., that has created a platform to help prevent human
trafficking. And Mens Gold Boxx, based in Austin, a big and tall e-commerce site for men.
And teleCalm, based in Allen, Texas, which created a phone service aimed
at keeping seniors safe. And Olifant Medical, based in San Antonio, won $50,000. The startup has developed
a medical device to insert breathing tubes into patients easier.
In 2018, MassChallenge awarded EQO and Sempulse, both based
in Austin, $100,000 each, followed by $75,000 to NovoThelium, which is working to provide nipple grafts to breast cancer
survivors after a mastectomy. Austin-based Cloud 9, a healthcare startup, won the other $75,000 Platinum award.
And Austin-based GrubTubs took home a $50,000 award and The Mentor Method, an Austin-based
mentor network that creates inclusive workplace cultures, took home a $25,000
award.The other winners included Augmenta, based in Greece, which won $50,000 for its technology that
monitors the application of fertilizers and pesticides. And Popspots, based in Austin, won a $25,000 award for its AdMob product
for retailers. And Re:3D also
received a $10,000 award.
“Austin is our home base — so we’re especially
excited to represent the city, its fast-growing freelance workforce, and the
fintech landscape,” Joust’s Co-Founder and CEO Lamine Zarrad said in a news
release. “Our app truly addresses the often overlooked business and financial
concerns of freelancers, and SXSW is the perfect place to showcase that.”
And in the XR
category, Dell Technologies of Round Rock earned a finalist spot for Encoded Forms.
]The
Innovation Awards Ceremony takes place Monday, March 16th at the
Austin Convention Center. The ceremony recognizes the most exciting tech developments
in 13 categories. It also includes a Best in Show winner and a People’s Choice
Award.
In
addition, at the event, Nonny de la Pena, CEO and founder of Emblematic Group, will
be inducted into the SXSW Innovation Awards Hall of Fame.
Five
finalists from each of 13 categories were selected to showcase their projects
for SXSW attendees and a panel of expert judges at the SXSW Innovation Awards
Finalist Showcase on Saturday, March 14.
“The forward-thinking breakthrough projects in this year’s Innovation Awards lineup will spark a new level of wonder and inspiration within the SXSW creative community and further illustrate how technology can shape our future,” Hugh Forrest, SXSW Chief Programming Officer said in a news release.
