Texas-Squared Startup Newsletter #298 | by Marc Nathan | May, 2021

Texas Startup News, Opinion & Events in the Lone StartUP State
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  • Austin Startup Workrise, Formerly RigUp, Hits $2.9 Billion Valuation After $300 Million Raise — Link
    – Forbes
  • Austin’s Workrise Raises Another $300 Million in Funding — Link
    – Silicon Hills News’ Laura Lorek
  • Unicorn Workrise Raises $300M Series E to Connect Laborers With Companies — Link
    – Built in Austin
    Austin’s Workrise secures $300M investment at reported $2.9B valuation — Link
    – Austin Business Journal
  • Austin-based Workrise lands $300 million to expand its reach — Link
    – Austin American-Statesman

Workrise, which has built a workforce management platform for the skilled trades, announced today that it has raised $300 million in a Series E round led by U.K.-based Baillie Gifford that values the company at $2.9 billion.

New investor Franklin Templeton joined existing backers — including Founders Fund, Bedrock Capital, Andreessen Horowitz (a16z), Moore Strategic Ventures, 137 Ventures and Brookfield Growth Partners — in putting money in the round. With this latest financing, Workrise has now raised more than $750 million.” — Techcrunch’s Mary Ann Azevedo

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  • Behind The Screen: Meet The Startup Powering Telehealth That Just Raised $50 Million — Link
    – Forbes’ Katie Jennings
  • Cognite Closes on $150 Million in Funding — Link
  • Hearth Closes on $23 Million in Funding — Link
  • Telemedicine Startup Wheel Lands $50 Million in Funding — Link
  • Fresh Consulting Expands to Austin — Link
  • Realty Austin Expands to San Antonio — Link
  • Enterprise Software Veteran Mike Betzer Becomes CEO of Hypergiant Industries — Link
    – Silicon Hills News’ Laura Lorek
  • Interplay Learning — Helping the Skilled Trades Rebuild a Bigger and Better Workforce — Link
    – Austin Startups
  • By Bringing People Together, We Can Transform the Energy Industry — Link
    – SXSW
  • Presenting Startups from our Fifth Collective Cohort — Link
    – Mediatech.ventures
  • Austin draws closer to scoring $17 billion factory from tech giant — Link
    – CultureMap Austin
  • Council adopts new interim fees for Downtown Density Bonus program — Link
  • Austin to loosen Covid vaccine, distancing rules for live music and events — Link
  • What’s the plan for American Rescue Plan money? — Link
  • Report pushes local philanthropies to help solve housing crisis — Link
  • City waives permit fees for food charities — Link
    – Austin Monitor
  • Tourists trickle in for a taste of Austin charm — Link
  • North vs. South: The ‘Bubbas’ and ‘Yuppies’ of Austin are divided by more than Lady Bird Lake — Link
  • Report: Dozens sue luxury West Austin student apartments for ‘Ponzi-like’ scheme — Link
  • JuiceLand workers push for more after management raises pay — Link
  • Changing Austin: 5 major developments that will open by 2040 — Link
  • Austin home prices keep setting records, worsening buyers’ challenges — Link
  • Austin leads US tech hubs in post-pandemic rental market recovery — Link
  • Austin vs. Denver: Why the Colorado capital is gaining more millennials than any other city, including ours — Link
  • Gambling or investment? Cryptocurrency brings dreams of big gains to Austin buyers — Link
  • Class of ’21, stick around: Austin ranks in top US cities to start a career — Link
  • Snatching up specials and driving up demand, Tesla and tech are changing the DNA of East Riverside — Link
    – Austonia
  • Advanced Technique for Developing Digital Twins Makes Tech Universally Applicable — Link
  • Sheltering People With COVID-19 Experiencing Homelessness Curbs Spread — Link
  • Protecting Local Water Can Help Slow Climate Change and Provide Trillions of Dollars in Benefits — Link
  • Biden’s Corporate Tax Plan is Not What We Want — Link
    – University of Texas
  • Cognite Raises $150M Hitting Unicorn Status With $1.6B Valuation — Link
  • How Do You Fix a Hole in The ‘Leaky Pipeline’ And Empower Women’s Careers? — Link
  • With Plans to Hire, Hearth Raises $23M From The Chainsmokers and Others — Link
  • AI Startup Hypergiant Brings on New CEO, Plans to Open a New Office — Link
  • How Can You Build an Effective Design System? — Link
  • Mythic Grabbed $70M, Literati’s New Book Clubs, and More Austin Tech News — Link
    – Built in Austin
  • Samsung: No site decision yet for $17B chipmaking plant despite rumors — Link
  • Bill to stop Big Tech companies from censoring users to be heard by Texas House — Link
  • Austin drops mask mandate for all — Link
  • Employee mental health has never been more important — here’s how to promote it — Link
  • M&A wrap: SparkCognition opens wallet; Accounting firm acquired – Link
  • Bill to expand Texas medical cannabis program referred to Senate committee after delay – Link
  • How Mosaic Sound Collective helped Austin’s music scene stay afloat during the pandemic – Link
  • Journal Profile: Why Josh Jones-Dilworth thinks scientists should be loved like LeBron James – Link
  • Austin tech startup raises millions to facilitate home improvements – Link
  • Austin OKs higher fees for Downtown Density Bonus Program, developers respond – Link
  • Oracle sells Silicon Valley trophy tower for $155M – Link
  • Austin dishes out more than $2M to longtime local businesses – Link
  • Vaccine, fewer homeless near sidewalks could fuel return to office, Colliers says – Link
  • KORE Power names Texas one of three finalists for new lithium-ion battery factory – Link
  • After financial meltdown, Austin’s Superconductor Technologies reattempts merger with Clearday – Link
  • Acclaimed Austin restaurants to hit Houston later this year after Covid-19 setbacks – Link
  • Fresh funding means new unicorn Cognite to hire in Austin – Link
  • Land auction delayed again in Phoenix as speculation builds that Samsung will pick Austin for $17B plant – Link
  • 10 startups to join M/O; New program boosts minority-owned ventures – Link
  • Texas may neuter cities’ powers to create rules around business hiring, benefits – Link
  • Telehealth startup Wheel raises $50M series B – Link
  • Moody Center lands another major sponsor in Brown Distributing – Link
  • Why Resonant, a $173M public tech co., quietly moved its HQ to Austin – Link
  • Mike Betzer replaces Ben Lamm as Hypergiant CEO – Link
  • Prominent VC Tim Draper considers moving Draper University to Austin – Link
  • Cold storage facility planned in Seguin as demand for refrigerated space ratchets up – Link
  • In the money May 17: $174M in deals announced – Link
    – Austin Business Journal & Austin Inno’s Brent Wistrom
  • How do we make the Austin food scene more diverse? Through programs like this – Link
  • Health tech company Wheel raises $50 million to grow team, technology – Link
  • Can Austin drive-in theaters ride a boom year into the future? – Link
  • Austin’s SparkCognition acquires energy startup to grow renewables offerings – Link
  • Austin’s jobless rate drops below 5% in April – Link
  • Marijuana advocates eye small gains at Legislature – Link
  • Some Austin businesses drop mask rules, others will keep protocols – Link
  • Facebook sees ‘immense opportunity’ in Austin, company’s local leader says – Link
    – Austin American-Statesman