Dallas Venture Deals

February 2024

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Dallas is Rising…

Welcome to the eighth edition of the Dallas Venture Deals newsletter. We hope everyone had a wonderful Thanksgiving! We are grateful for the responses, feedback, and engagement. Our goal remains simple: shine a spotlight on DFW’s venture capital activity, in a region where remarkable transactions often go unnoticed. Cheers to the future of DFW startups!

Venture Deals

DFW-Based Company Fundings - February

Divcon (Dallas, TX), a systems integrator delivering facility management automation and monitoring solutions primarily to the mission-critical data center market, received a new investment from Sustainable Investing at Goldman Sachs Alternatives.
Ever.Ag (Lewisville, TX), an agribusiness solutions provider, has acquired AgencyRoot (Lafayette, IN), a software platform built for the agri-food sector, designed for crop insurance agents.
Harbor (Dallas, TX), an infant care technology company, raised a $3.7M Seed Round led by Trust Ventures, with participation from Morrison Seger, Capital Factory, Tim Tebow, John Isner, and others.
Legalyze.ai (Dallas, TX), an AI legal tech startup, raised $100k in funding from Payment Ventures.
Profit Inc (Southlake, TX), a fintech that helps businesses increase their profitability, raised $200k from Eagle Venture Fund (Southlake, TX). The startup is being incubated at Eagle Venture Lab, Eagle Venture Fund’s venture studio.
Pro-Forma (Fort Worth, TX), a fintech that offers a standardized financial forecasting and investor diligence tools for startups and VCs, raised $200k from Eagle Venture Fund (Southlake, TX). The startup is being incubated at Eagle Venture Lab, Eagle Venture Fund’s venture studio.
Sapience Analytics (Plano, TX), a global leader helping enterprises optimize capacity management with automated workforce analytics, received growth capital from Kayne Anderson Capital. Existing investors include Orios Venture Partners, and Credit Suisse NEXT Investors.
The Citizenry (Dallas, TX), a direct-to-consumer home decor brand that partners with artisans around the world, has been acquired by Havenly (Denver, CO), an interior design service and home furnishings company.
UPTIQ (Plano, TX), a pioneer in holistic wealth management solutions for the financial services industry, acquired Focus Treasury and Credit Solutions.
Userflow (Dallas, TX), a no-code user onboarding product for SaaS companies, has been acquired for $60M by Beamer (Boulder, CO), a maker of product user engagement software.

DFW-Based Investor Transactions - February

American Heart Association (Dallas, TX) participated in the $2.2M funding round for SUMA Wealth (Los Angeles, CA), a FinTech company focused on advancing the wealth of young Latinos. The round was led by Radicle Impact with participation from Vamos Ventures, OVO fund, Ulu Ventures, Female Founders Fund, and Chingona Ventures.
Anchor Capital (Dallas, TX) participated in the $24.7M Series B for Carewell (Charlotte, NC), an online retailer focused on providing family caregivers with tools and resources. The round was led by MBF Healthcare, with participation from Sageview Capital, Headline, Primetime Partners, Nextview, and Florida Opportunity Fund
Blue Star Innovation Partners (Frisco, TX) participated in the $4M Seed round for Camb.ai (Cupertino, CA), an AI speech technology company specializing in instantaneous dubbing performances in 100+ languages, dialects, and accents.
Crow Holdings (Dallas, TX) has closed its largest fund to date, securing $3.1B in fresh commitments from both existing and new investors.
Crestline Investors (Fort Worth, TX) invested nearly $57M in Napier AI (London, UK), a financial crime compliance RegTech business.
Eagle Venture Fund (Southlake, TX) invested $250k into Patient Sortal (Austin, TX), a healthcare provider for returning citizens.
Eagle Venture Fund (Southlake, TX) invested $100k in Gage (St. Simons Island, GA), a platform and mobile app designed to “Build a Better Workforce” with a new approach to employee engagement, recognition, and performance management.
Eagle Venture Fund (Southlake, TX) invested $200k in Profit Inc (Southlake, TX), a fintech helping businesses increase profitability. The startup is being incubated at Eagle Venture Lab, Eagle Venture Fund’s venture studio.
Eagle Venture Fund (Southlake, TX) invested $200k in Pro-Forma (Fort Worth, TX), a fintech that offers a standardized financial forecasting and investor diligence tools for startups and VCs. The startup is being incubated at Eagle Venture Lab, Eagle Venture Fund’s venture studio.
Eagle Venture Fund (Southlake, TX) invested $250k into Zero Trafficking (Palm City, FL), a data company bringing innovative data, analysis, and training solutions to the frontlines of anti-trafficking.
Maverick Capital (Dallas, TX) participated in the $75M Series A extension (bringing total Series A funding to $425M) for Areteia Therapeutics (Chapel Hill, NC), a clinical stage biotechnology company developing novel inflammation and immunology therapies. Viking Global Investors and Marshall Wace join the original syndicate of investors led by Bain Capital Life Sciences with participation from Access Biotechnology, GV, ARCH Venture Partners, Saturn Partners, Sanofi, and Population Health Partners.
MB2 Dental (Dallas, TX), a "first-of-its-kind" dental partnership organization, raised a $2.3B debt facility with KKR to fund acquisitions and growth.
Metamatic (Dallas, TX) participated in $1.55M funding for Drosera (London, UK), an automated security protocol used to detect vulnerabilities and reduce financial losses. Additional participants include Anagram, Arrington Capital, UDHC, Comfy Capital, Bodhi Ventures, BaseDAO, Asymmetric, Zeal Capital, Everstake, 01Node, Marin Ventures, Infinite Capital, NxGen and others.
Morrison Seger (Dallas, TX) participated in the $3.7M Seed Round for Harbor (Dallas, TX), an infant care technology company. The round was led by Trust Ventures, with participation from Capital Factory, Tim Tebow, and John Isner.
NexPoint Capital (Dallas, TX) led an $8M funding round for PlantSwitch (Sanford, NC), a developer of technology to make plastics more compostable.
Perot Jain (Dallas, TX) invested in Noteefy (Los Angeles, CA), a fully automated waitlist and booking assistant revolutionizing the golf industry.
Satori Neuro (Dallas, TX) participated in the $18.75M Series A for Motif Neurotech (Houston, TX), a neurotechnology company developing minimally invasive bioelectronics for mental health formed through the Rice Biotech Launch Pad. The round was led by Arboretum Ventures, with participation from KdT Ventures, Dolby Family Ventures, re.Mind Capital, Divergent Capital, TMC Innovation, PsyMed Ventures, Empath Ventures, and Capital Factory.
Trinity Hunt Partners (Dallas, TX) announced the closing of the Trinity Hunt Partners VII fund, which raised an oversubscribed $700M in capital.
Trinity West Ventures (Fort Worth, TX) participated in the $2.5M Seed Round for ALT Sports Data (Carlsbad, CA), a provider of sports data and analytics solutions. The round was led by Eberg Capital and Relay Ventures, with additional participation from NuFund Venture Group and others.