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Austin funding news: Artificial intelligence and health care top recent local investments

Austin funding news: Artificial intelligence and health care top recent local investments
Photo: Shipwell/Facebook
By Hoodline - Published on November 04, 2019.

Austin-based big data company Shipwell has secured $35 million in Series B funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced Oct. 24 and led by Georgian Partners.

According to its Crunchbase profile, "Shipwell is a freight trucking startup that provides business with automated way transport of goods and services. The company believes that all businesses can have best-in-class shipping and transportation networks to ensure the efficient movement of goods and services. It builds intelligent and connected tools and software that allows shippers, brokers, and carriers to communicate in real-time and move freight in a painless and delightful way."

The four-year-old startup has raised two previous funding rounds, including a $10 million Series A round in 2018.

The round brings total funding raised by Austin companies in artificial intelligence over the past month to $145 million, an increase of $112 million from the month before. The local artificial intelligence industry has seen 41 funding rounds over the past year, raking in a total of $445 million in venture funding.

In other local funding news, insurance company Sana Benefits announced a $3.6 million seed funding round on Oct. 29, led by Trust Ventures.

According to Crunchbase, "Sana is a health insurance solution built for business. Data transparency, great customer service, and savings of up to 30% versus traditional insurance."

The company also raised a $2.3 million round in 2018.


This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.