SpyCloud, Inc. nets $21 million, plus more top funding news for Austin-based companies

Austin-based network security company SpyCloud, Inc. has secured $21 million in Series B funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced Feb. 27 and led by M12.

According to its Crunchbase profile, "SpyCloud helps businesses of all sizes prevent data breaches and account takeover attacks by alerting when employee or company assets have been compromised. They accomplish this through early-warning breach detection service powered by a team of intelligence analysts."

The three-year-old startup has raised two previous funding rounds, including a $5 million Series A round in 2018.

The round brings total funding raised by Austin companies in information technology over the past month to $79 million. The local information technology industry has seen 65 funding rounds over the past year, raking in a total of $808 million in venture funding.

In other local funding news, database and company Datical announced a $10 million Series C funding round on Feb. 28, led by River Cities Capital Funds.

According to Crunchbase, "Datical is founded on the fundamental philosophy of bridging the gap between phenomenal open source IT projects and the needs of enterprise customers. Datical's solutions are hand-picked from the best open source projects which address critical business pains largely ignored by proprietary software vendors. Our team of engineers transforms these projects into secure solutions that are easy to use, quick to deploy, and simple to support."

Founded in 2012, the company has raised seven previous rounds, including a $2.1 million Series C round in 2017.

Meanwhile, fintech and commercial real estate company Rabbet raised $8 million in Series A funding, announced on February 20. The round's investors were led by QED Investors.

From the company's Crunchbase profile, "Rabbet brings efficiency, accuracy, and transparency to the complex construction finance industry. Today, construction finance information is trapped in disconnected spreadsheets, PDFs, and emails, creating unnecessarily manual processes. Without a standardized information exchange, construction financing is slow, inefficient, and siloed."

Rabbet last raised $120,000 in seed funding in 2017.

Also of note, education and predictive analytics company Civitas Learning raised private equity funding, announced on February 27 and led by Francisco Partners.

From Crunchbase, "Civitas Learning partners with universities and colleges dedicated to helping more students learn well and finish strong. They provide tools and services for educators that bring together and make the most of their diverse and disconnected data streams; personalize information and support for their students; and deepen understanding of the impact of their student-success initiatives. Through their work together, their partners are empowering leaders, advisors, faculty, & students—and measurably improving enrollment, persistence, and graduation outcomes."

The company previously raised $35 million in Series D funding in 2015.


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