Today Built In Austin released The 2014 Annual Austin Digital Startup Report highlighting the enormous growth in Austin’s digital tech sector. Austin digital tech companies had a record-breaking year in 2014, raising a total of $993M in investments and acquisitions totaling over $437 million.
Investors significantly increased their bets on Austin digital technology companies in 2014, funding 115 startups and buying up 31. Those funding totals increased 123 percent over 2013, according to a comparison of Built In Austin data to historical data from Thomson Reuters.
Financial technology, cloud computing, e-commerce, consumer web, healthcare and advertising technology companies were the industry’s most highly and most often funded. Those industries are mostly business-to-business, which is in line with Austin’s historical record of success with enterprise software.
Several notable funding rounds were: BigCommerce, an e-commerce platform, which raised $50 million, Davincian Healthcare, a healthcare analytics company, which raised $50 million, Magnitude, an enterprise information management software company, which raised $100 million, and Mozido, a mobile bill pay platform, which raised $185 million.
Several notable exits were: Shipstation, a SaaS shipment process platform company, which sold for $76 million, RenewData, a legal analysis platform, which sold for $70 million, and Upland, a work management software company, which sold for $46 million.
ABOUT BUILT IN AUSTIN
Built In is a network of hyperlocal platforms which connect talent to startups, profiles local tech company news, aggregates and publishes data on the sector (launches, fundings, acquisitions) and hosts events. Headquartered in Chicago, the company currently operates four sites: BuiltInChicago.com, BuiltInLA.com, BuiltInAustin.com, and BuiltInColorado.com.