AgileCraft’s Exit, $45M for Ojo Labs, Intel Grants & More TX Tech
Let’s catch up with the latest innovation news in Texas.
—Georgetown, TX-based AgileCraft was acquired by Australia-based Atlassian (NASDAQ: TEAM), the team collaboration and productivity software maker, for $166 million. AgileCraft makes planning software that helps executives build and manage how the company’s projects develop. It’s focused more on leaders in a business than engineering and IT staff, and it helps them map out product strategy, spot bottlenecks and risks, and get a feel for the potential return on investment, Atlassian says.
That fits well in Atlassian’s existing planning software for engineering and IT teams, which is used by a wide variety of large corporations, including AT&T, Fidelity, and Nielsen. Of the $166 million deal, $154 million is cash and the rest is restricted shares of Atlassian. AgileCraft was founded in 2013 and had raised just $10.1 million from private equity firm Crane Nelson. The deal is expected to close in April.
—The Intel Foundation is awarding $1.25 million in grants to organizations in California, Texas, Oregon, and Washington that engage middle-school girls in technology, engineering, and computer sciences. That includes Latinitas, an Austin nonprofit that gets young women involved in tech and media. Other groups include the Eva Longoria Foundation, Women’s Audio Mission, and ChickTech.
—City officials in San Antonio are holding an “industry day” on March 28 for people who focus on research that might be useful for soldiers and veterans. Speakers include researchers with expertise ranging from burn injuries to blood coagulation and critical care. The U.S. Army Institute of Surgical Research is co-hosting the event, which will take place at the Henry B. Gonzalez Convention Center.
—Ojo Labs, a real estate tech company in Austin, has raised $45 million in a Series C round of funding. Investors included LiveOak Venture Partners, Realogy Holdings, Royal Bank of Canada, and Northwestern Mutual Future Ventures. Ojo makes artificial-intelligence aided chatbots for real estate transactions. The funds will be used to make new hires and for further tech development. In May, the startup $20.5 million in a Series B round.
—Rice University has announced the 42 finalists that will compete at the annual Rice Business Plan Competition next month. The student-led startups come from universities across the United States and also Canada, Norway, India, Singapore, and the United Kingdom. This year’s competition takes place April 4 to April 6.
—ATX Seed Ventures has renamed itself to ATX Venture Partners to distance itself from the “noisy space” in investing that has become “hard to define,” managing partner Chris Shonk said in a news release. ATX will continue investing in early-stage startups in Texas and the rest of the south-central U.S. The firm has raised $60 million, including a portion of a second fund it announced last month. It has plans to raise as much as $100 million for a third fund. Stephen Gray, who has previously worked at VantagePoint Capital and Jefferies, joined the firm as a strategic partner. Brad Bentz and Danielle Allen are also partners.
Xconomy National Correspondent David Holley contributed to this report.