Austin-based cloud data services company Upland Software has secured $410 million in post IPO debt funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced August 6 and led by Credit Suisse Loan Funding.
According to its Crunchbase profile, "Upland Software is the world’s largest cloud provider of Enterprise Work Management software. Upland is the only cloud software provider that offers a comprehensive family of best-of-breed applications that enable organizations to align their goals, projects and programs, optimize their resource utilization and workflows, efficiently manage content and information, and empower teams to collaborate and work effectively. From strategic planning to work execution, Upland drives business results for more than 1,200 enterprise clients with 300,000 active users in 50 plus countries."
The ten-year-old company has raised three previous funding rounds, including a $90 million post IPO debt round in 2016.
The round brings total funding raised by Austin companies in information technology over the past month to $416 million, an increase of $395 million from the month before. The local information technology industry has produced 64 funding rounds over the past year, raking in a total of $914 million in venture funding.
In other local funding news, finance and business intelligence company ScaleFactor announced a $60 million Series C funding round on August 8, led by Coatue Management.
According to Crunchbase, "ScaleFactor provides accounting and finance software with automated bookkeeping, proactive alerts, and other features. It is a smart accounting and finance software that changes the way modern businesses operate. By automating complex accounting tasks and translating financial information into usable business insights, ScaleFactor is enabling business owners, managers, and entrepreneurs to focus on what they love: running and growing their business."
Founded in 2014, the company has raised five previous rounds, including a $30 million Series B round earlier this year.
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