Dallas Venture Deals

October 2024

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Dallas is Rising…

Welcome to the 16th 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 Dallas Recap

Venture Dallas 2024 was a success! Thanks to everyone who joined us for the 5th annual conference this past week at the George Bush Institute. It was an action-packed day for over 500 attendees, with panels and keynotes featuring leaders in our ecosystem like Senator John Cornyn, Elaine Agather, Anurag Jain, David Hunt, and many others.

Venture Deals

DFW-Based Company Fundings

Backflip (Dallas, TX), the all-in-one fintech platform for real estate entrepreneurs, announced that it raised two private credit funds totaling $30M of equity along with $154M of asset-backed financing, equating to $184M in capital to fund residential transition loans (also known as “RTL” or “fix-and-flip mortgages”).
ContraForce (McKinney, TX), a security services delivery platform, closed a $3.25M seed round co-led by GALLOS Ventures and DataTribe
KLOwen Orthodontics (Richardson, TX), a leader in cutting-edge custom digital orthodontic solutions, announced the completion of its Series B funding round, securing up to $25.5M. The round was led by InLight Capital and joined by existing investors, Jazz Venture Partners, Columbia Pacific. Advisors, Springrock Ventures, and Ensemble Innovation Ventures
Perry Weather (Dallas, TX), a leading technology platform for weather safety and operations, raised a $15M Series B from Arthur Ventures.
Prolucent (Dallas, TX), a leading provider of enterprise-wide healthcare workforce optimization software and services, secured a strategic investment from Northwell Holdings.
StayNow (Frisco, TX), an operational platform for independent hotel owners, raised a $2.2M seed round led by Fountane with participation from UXReactor and founders Romal Jayswal and Siddharth Raj.
Verax AI (Dallas, TX | Tel Aviv, Israel), a developer of enterprise-grade software solutions that provide visibility and control of AI in production, raised a $7.6M in seed round led by TQ Ventures with participation from Concept Ventures, Cardumen Capital, Seedcamp, InMotion Ventures, and XTX Ventures

DFW-Based Investor Transactions

American Heart Association Ventures (Dallas, TX) invested $1M in MDisrupt (Austin, TX), an AI-powered platform that connects health tech and life sciences companies with clinicians, health system leaders and payer executives.
Andres Construction (Dallas, TX) participated in the $21.5M Series B for Document Crunch (Atlanta, GA), a construction industry document compliance platform. The round was led by Titanium Ventures with participation from Nemetschek Group,Satterfield & Pontikes, Navitas Capital, Zacua Ventures, Fifth Wall and Ironspring Ventures.
Arctos Partners (Dallas, TX) participated in an equity investment round in LeagueApps (New York, NY), a leading youth sports management platform. The round was led by Accel-KKR.
AT&T Ventures (Dallas, TX) participated in a strategic investment round in Derq (Detroit, MI), a leading provider of real-time AI-powered intelligent transportation system (ITS) solutions, with additional participation from e& Capital.
Cubit Capital (Dallas, TX) co-led a $2M Seed round for Infinite Giving (Atlanta, GA), an asset management platform designed to help non-profit organizations grow their asset giving and amplify their good work. The round was co-led by Morgan Stanley and Atlanta Ventures.
Goldcrest Capital (Dallas, TX) and Maverick Capital (Dallas, TX) participated in the $120M Series B for Terray Therapeutics (Los Angeles, CA), a biotechnology company improving human health by transforming the speed, cost, and success rate of small molecule drug development using computation integrated with novel data at scale. The round was led by Bedford Ridge Capital and NVentures (NVIDIA’s venture capital arm), with participation from Madrona Ventures, Two Sigma Ventures, XTX Ventures, Digitalis Ventures, and Alexandria Ventures.
NGP (Dallas, TX) participated in the $405M Series F for Form Energy (Weirton, WV), a technology company developing and commercializing a new class of cost-effective, multi-day energy storage systems. The round was led by T. Rowe Price, with participation from GE Vernova, TPG Rise Climate, Breakthrough Energy Ventures, Capricorn's Technology Impact Funds, Coatue, Energy Impact Partners, MIT's The Engine Ventures, Temasek, GIC, Prelude Ventures, Claure Group, Gigascale Capital, Blindspot Ventures, and VamosVentures.
Redstick Ventures (Dallas, TX) participated in the $6.1M Seed round in Earthodic (Brisbane, AUS), a creator of bio-based coatings that enable sustainable paper-based packaging on a global scale. The round was led by FTW Ventures with participation from Circulate Capital, Queensland Investment Corporation (QIC), UniQuest Fund, Significant Capital Ventures, Branch Venture Group, Tenacious Ventures, Investible and Closed Loop Partners.
Thryv Holdings, Inc. (NASDAQ: THRY) (Dallas, TX) signed a definitive agreement to acquire Infusion Software, Inc. (Keap) (Chandler, AZ), a prominent player in customer relationship management and marketing automation for SMBs.
View Ventures (Dallas, TX) participated in the $30M Series C for Rivermark Medical, (Milwaukee, WI) a leader in minimally invasive solutions for Benign Prostatic Hyperplasia (BPH). The round was led by American Century Investments (ACI) with participation from Venture Investors Health Fund, Time BioVentures, Cadence Healthcare Ventures, and Anduril Investors LLC.