Dallas Venture Deals

October 2023

Howdy!

Welcome to the fourth 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 - October

Access Healthcare (Dallas, TX & Chennai, India), an industry leading revenue cycle management and healthcare services provider, acquired Envera Health (Richmond, VA), a leader in patient engagement services.
Auction.io (Dallas, TX), a B2B SaaS provider of auction and e-commerce solutions, raised funding from Agya Ventures, Adam Neumann (166 2nd Financial Services), Liquid 2 Ventures, Sam Parr (founder of The Hustle), SRM Development, and others.
Ever.Ag (Frisco, TX), an agricultural software provider, acquired Austin Data Labs (Austin, TX), an AI and data science firm.
Evry Health (Dallas, TX), a B2B “mobile-first” health insurance company, was acquired by Globe Life Inc. (NYSE: GL)(McKinney, TX).
FieldPulse (Dallas, TX), a leading software provider in the field service industry, raised a $21M Series B led by Fulcrum Equity Partners with participation from Capri Ventures and Superseed Ventures.
Five Liters (Dallas, TX), a subsidiary of Spark Biomedical developing therapies for treating inheritable blood and bleeding disorders, raised $500k in seed funding from Pathway to Cures.
Gardenuity (Dallas, TX), a high-tech gardening platform with a wellness mission, raised a $5.5M Seed round co-led by Anchor Capital (Dallas, TX) and The Retail Connection (Dallas, TX) with participation from Bonnie Plants, Deason Capital (Dallas, TX), Ross Jones from Berkshire Partners, JFO Group (Irving, TX), RevTech Ventures (Dallas, TX), Gray’s Creek Capital, and North Texas Angel Network (Dallas, TX).
Island (Dallas, TX), a leader in the enterprise browser market, raised a $100M Series C ($1.5B valuation!) led by Prysm Capital with participation from Canapi Ventures, Insight Partners, Stripes, Sequoia, Cyberstarts, and Georgian.
OfficeRnD (Frisco, TX), a provider of coworking and hybrid work software, received strategic investment from Blue Star Innovation Partners (Frisco, TX).
Prolucent (Dallas, TX), a provider of enterprise-wide healthcare workforce optimization software and services, raised $4M from A1 Health Ventures.
Zyston (Dallas, TX), a Managed Security Services Provider (MSSP) acquired Blue Lava (Menlo Park, CA), a Security Program Management SaaS solution.

DFW-Based Investor Transactions - October

AAB Venture Capital (Frisco, TX) led $100M Series B for Prins AI (Lakewood, CO), a technology company utilizing advanced AI to create digital identities for enterprises, brands, celebrities, and individuals.
Anchor Capital (Dallas, TX) and The Retail Connection (Dallas, TX) co-led a $5.5M Seed investment in Gardenuity (Dallas, TX), a high-tech gardening platform with a wellness mission. The round included participation from Bonnie Plants, Deason Capital (Dallas, TX), Ross Jones from Berkshire Partners, JFO Group (Irving, TX), Revtech Ventures (Dallas, TX), Gray’s Creek Capital and North Texas Angel Network (Dallas, TX).
Blue Star Innovation Partners (Frisco, TX) invested in OfficeRnD (Frisco, TX), a provider of coworking and hybrid work software.
Cubit Capital (Dallas, TX) participated in $55M Series A for Saronic (Austin, TX), a maritime autonomy company focused on surface vessels. The round was led by Caffeinated Capital, with participation from 8VC, U.S. Innovative Technology Fund, Andreessen Horowitz, Lightspeed Venture Partners, Point72 Ventures, Silent Ventures, Overmatch Ventures, and Ensemble VC.
Cogniphy (Frisco, TX) participated in $2M pre-Series A round for Proxgy, an IoT solution provider. Other investors include LetsVenture, Planify Angel Fund, Mach Tech Fund, Madhuram Papers Family Office, and AKGVG & Associates.
CoVerica Insurance (Dallas, TX) co-led $10M Series B for Veruna (Austin, TX), an all-in-one agency management system. The round was co-led by Guidewire Software and Berkeley Venture Capital, with participation from Keystone Insurers Group and EMC Insurance Group.
Cypress Growth Capital (Dallas, TX) led $8.5M Series A in HANDLE Global (Louisville, KY), a provider of healthcare capital equipment supply chain software and fulfillment solutions. The round included new and existing investors from prior seed funding round.
Cypress Growth Capital (Dallas, TX) invested $2M in non-dilutive funding for Rethink Compliance (Denver, CO), an industry leading compliance and ethics solutions provider.
Dallas Venture Capital (Irving, TX) participated in $35M Series B for Prophecy (Palo Alto, CA), a low-code development platform for companies to transform their data. The round was co-led by Insight Partners and SignalFire, with participation from J.P. Morgan, Singtel Innov8, and Databricks Ventures.
Fidelitas Capital Partners (Dallas, TX) invested in the Series C for Flat Medical (Taipei, Taiwan), medtech company specializing in safety solutions. The round was led by Taiwania Capital with participation from ITIC.
Fifth Growth Fund (Dallas, TX) co-led $10M Series A for Arctop (San Francisco, CA), a platform for brain decoding, alongside Supermoon Capital.
Goldcrest Capital (Dallas, TX) participated in $15M Series A for QuoteWell (Austin, TX), a tech-enabled wholesale insurance brokerage. The round was led by New Enterprise Associates with participation from Floating Point.
Intelis Capital (Dallas, TX) participated in $2.5M Seed round for Rhizome (Washington, DC), an AI software company helping electric utilities assess and prevent climate-related power grid failures. Other participants include Looking Glass, Jetstream, El Cap, Streetlife, Everywhere, Stepchange, and Kindergarten
Morrison Seger Venture Capital Partners (Dallas, TX) invested $1.8M in BirdDog (Austin,TX), a hunting and outdoor experience company.
Perot Jain (Dallas, TX) participated in $11M Series A for Cecilian Partners (New Hope, PA), a leading proptech end-to-end digital solution for homebuilders and developers. The round was led by Resolve Growth Partners.
Tech Wildcatters participated in $4.6M Seed round for Season Share (Los Angeles, CA), a ticketing tech platform in the sports and entertainment industry. The round was led by 11 Tribes Ventures, with participation from Camwood Ventures, Lago Innovation Fund, Phoenix Capital Ventures, Leroy Trust, Everywhere Ventures, Andover Ventures, Omnidollar Ventures, NWS Holdings, Regatta Capital Group, Techstars, and Ethan Austin.
Texas Capital Bank provided debt financing in $61M (equity & debt) financing for Alianza (Pleasant Grove, UT), a cloud communications platform for service providers. The equity was supported by a syndicate of undisclosed institutional investors, as well as strategic partners.