New Funds for ParkHub, Neighborhood Goods, Rabbet, & More TX Tech
Let’s catch up with the latest innovation news in Texas.
—ParkHub, a Dallas startup that is digitizing how and when users pay for parking, raised $13 million in a Series B funding round, according to a press release. The investment round was led by Arrowroot Capital in Santa Monica, CA and is the first institutional money for the startup. Among the startup’s angel investors is Dallas Cowboys owner Jerry Jones. Parkhub, which was founded in 2010, is used at AT&T Stadium, the Cowboys’ home, where fans can use ParkHub to pay for parking via credit cards, and purchase parking ahead of time.
—Another Dallas startup, Neighborhood Goods, has raised an additional $8.8 million in an expanded seed round, according to Dallas Innovates. The e-commerce startup initially raised $5.75 million in May 2018. Neighborhood Goods opened a store in the Dallas suburb of Plano, TX, with designs from actress Reese Witherspoon’s Draper James brand, among others. In December, tennis star Serena Williams launched her eponymous clothing line at the store.
—SKU, the Austin consumer products accelerator, has announced the members of its latest class of startups. The companies are selling cold-pressed cane sugar water, a vegan makeup line, pickled-based salsa, and other products.
—Rabbet, an Austin-based maker of software for the construction industry, has raised $8 million in a Series A round, according to a press release. Goldman Sachs’ Principal Strategic Investments, QED Investors, and Camber Creek participated in the round. “Through intelligent automation, our platform provides operational efficiency, improved customer experience and faster payments, representing a $21 billion opportunity for lenders and borrowers,” Will Mitchell, Rabbet CEO and co-founder, said in the prepared statement. The company, which was founded in 2017 and participated in the Y Combinator accelerator, said it plans to use the funding to further develop its software and make new hires in engineering and sales.
—NarrativeDx, an Austin startup that uses artificial intelligence tools to glean insights from patient and healthcare provider surveys—a way to give hospitals input on becoming more efficient and reducing turnover—has raised about $3.1 million, according to MedCity News. The funding round was led by Christiana Care Health System, Summation Health Ventures, and Cultivation Capital, according to a NarrativeDx press release. Health X Ventures also joined the round.