Dallas Venture Deals

March 2024

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Dallas is Rising…

Welcome to the ninth edition of the Dallas Venture Deals newsletter. 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

Agora Data (Arlington, TX), a fintech company that aims to enable any car dealer to be a finance company, revealed $400M in new funding capacity raised led by Phoenix Merchant Partners.
Apex Fintech Solutions (Dallas, TX), the fintech for fintechs powering innovation and the future of digital wealth management, has acquired AdvisorArch (New Hope, PA), a portfolio management company and modern rebalancer for financial advisors.
Blockhouse Digital (Frisco, TX), an asset management firm specializing in collateralized lending and yield-generating strategies in crypto, raised a $2M Seed Round from BlockFills along with various angel and VC investors.
Blockmetrix (Dallas, TX), a crypto mining platform intended to support professional crypto transactions, raised $5.62M of venture funding.
BuzzBallz (Carrolton, TX), a woman-owned and family-operated distillery, winery, and brewery, has been acquired by Sazerac, one of the world’s largest spirits companies.
Carvana PPA Tour (Dallas, TX) and MLP by Margaritaville (Austin, TX) completed the previously announced merger of the two leading professional pickleball organizations to form a unified professional pickleball holding company. The consolidation is backed by a $75M investment from SC Holdings, D.C. Pickleball Team owner Al Tylis, PPA Tour owners Tom Dundon and the Pardoe Family, and a roster of existing MLP team owners.
Deep Cognition (Dallas, TX), an AI company automating complex data entry, received investment from Eagle Venture Fund.
Formula Wellness (Dallas, TX), a provider of health, medical-based wellness, and aesthetics services with a focus on longevity science, received investment from Trive Capital.
Gearbox (Frisco, TX), a video game development company, is being acquired for $460M by Take-Two Interactive Software ($TTWO) (New York, NY), a leading game publisher.
Hari Mari (Dallas, TX), a premium sandal brand, raised a $10M equity funding round led by entrepreneur Landon Smith, with participation from Montgomery Capital Advisors, and DWBI Investments.
One Network Enterprises (Dallas, TX), a supply chain technology firm, has been acquired for approximately $839M by Blue Yonder (Scottsdale, AZ), a leader in digital supply chain transformations.
ParkHub (Dallas, TX), a leading provider of parking management software and payments solutions, is merging with JustPark (London, UK), one of the UK’s leading app-based parking reservations technology and payments platforms. As part of the transaction, ParkHub secured a strategic growth investment led by FTV Capital with participation from LLR Partners.
RealTime Laboratories (Carrolton, TX), a pioneer in the field of testing for mycotoxins—hazardous toxins from mold, has been acquired by US BioTek Laboratories (Seattle, WA), a Clinical Laboratory Improvement Amendments and CAP accredited laboratory.
ScaleWith (Allen, TX), a SaaS service that provides curated social impact programs, raised $7.88M of venture funding from undisclosed investors.
Snaps Clothing Co. (Dallas, TX), a clothing company looking to reinvent Western wear with a new contemporary line of pearl snap shirts, raised a $1.65M Seed Round led by Morrison Seger Venture Capital Partners. Additional investors include Jay Demarus from Rascal Flatts, Chris Harrision the 'Bachelor' host, Sammy Kershaw, Chuck Liddell, Chet Garner, Corey Brooks, MLB player Johnny Damon, and founder of J. Hilburn Veeral Rathod.
SquareDash (Fort Worth, TX), a provider of a payment advance platform for the insurance restoration industry, raised a new equity funding round (bringing its total funding over $20M) led by FINTOP Capital with participation from Hivers and Strivers, The PenFed Foundation, i2BF Global, The Hustle Fund, and The Council.
SRS Distribution (McKinney, TX), a residential specialty trade distribution company, was acquired for approximately $18.25B by The Home Depot ($HD).
Tuned In Grading (Dallas, TX), company focused on authenticating, grading and encapsulating vinyl records, has been acquired by Audio Media Grading (AMG) (West Palm Beach, FL), a music collectibles grading company founded by Music Mogul Steve Aoki.

DFW-Based Investor Transactions

AT&T Ventures (Dallas, TX) invested in Carbyne (New York, NY), a next-generation provider of public safety communications. AT&T Ventures invested alongside existing investors Cox Enterprises (through Socium Ventures), Hanaco Growth, GMR International, Former CIA Director General David Petraeus, General Global Capital, and Material V.
Cubit Capital (Dallas, TX) participated in the $12.5M Seed Round for Firestorm Labs (San Diego, CA), an Unmanned Aerial System (UAS) manufacturer leading the charge in expeditionary additive manufacturing. The round was led by Lockheed Martin Ventures with additional participation from Decisive Point, Silent Ventures, 645 Ventures, Overmatch VC, BVVC, Marquee Ventures, IronGate, Backswing Ventures, The Veteran Fund, Feld Ventures, Beyond Capital, and RedCat.
Dallas Venture Capital (Irving, TX) participated in the investment round for Holistic AI (Palo Alto, CA), a leading AI governance platform. Additional participants include Mozilla Ventures and Premji Invest.
D.R. Horton (Arlington, TX) made a strategic investment in Apis Cor (Melbourne, FL), a manufacturer of construction 3D printing robotic technologies.
Eagle Venture Fund (Southlake, TX) invested in Deep Cognition (Dallas, TX), an AI company automating complex data entry.
Eagle Venture Fund (Southlake, TX) invested in Altus Solutions (Laramie, WY), a business elevating the movement to end human trafficking by scaling the solutions that accelerate impact.
Gauge Capital (Southlake, TX) announced the successful closing of its fourth fund, which was oversubscribed with roughly $1.B in commitments.
JBB Advanced Technologies (Carrolton, TX) sold its subsidiary digital marketing innovator Tronic for $12.25B to Tronic Ventures.
Landon Smith (Dallas, TX) led and Montgomery Capital Advisors (Dallas, TX), and DWBI Investments (Dallas, TX) participated in the $10M equity funding round for Hari Mari (Dallas, TX), a premium sandal brand.
Morrison Seger Venture Capital Partners (Dallas, TX) led a $1.65M investment in Snaps Clothing Co. (Dallas, TX), a clothing company looking to reinvent Western wear with a new contemporary line of pearl snap shirts.
Trive Capital (Dallas, TX) invested in Formula Wellness (Dallas, TX), a provider of health, medical-based wellness, and aesthetics services with a focus on longevity science.
Veritex Community Bank (Dallas, TX) participated in the $18.6M Series A extension for Synctera (San Francisco, CA), a Banking as a Service (BaaS) company. The round was led by Lightspeed and Fin Capital.