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Active Capital Leads $1.8M Seed Round for Startup Back Office
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Active Capital Leads $1.8M Seed Round for Startup Back Office

Back Office, the automated bookkeeping platform for small businesses, announced a new $1.8 million seed funding round led by venture capital firm Active Capital. Other early-stage investors include 500 Fintech, PlugNPlay Ventures, and angel investors from San Francisco, New York, Florida, and Boston. Active Capital is headquartered in San Antonio, Texas and invests in (B2B) software as a service (SaaS) companies in cities across the U.S. Co-founders Felix Rodriguez, Glennys Rodriguez, and Edwin Mejia launched Back Office in January 2018 to help businesses automate their accounting and finance operations. Based in West Palm Beach, Florida, the emerging B2B SaaS company recently graduated from 500 Startups, a Silicon Valley-based seed accelerator. Back Office was one of 20 companies ou...
Port San Antonio Delegation at Global Aerospace Conference Highlights Advanced Tech
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Port San Antonio Delegation at Global Aerospace Conference Highlights Advanced Tech

At this week's Aviation Week MRO Americas in Atlanta, Georgia, decision-makers from the aviation industry gathered to learn about the latest technology solutions to business challenges. Its expansive exhibit hall floor affords attendees the ability to connect with the people behind emerging innovations across the globe. The expansive 800 square feet exhibit showcasing San Antonio’s technologies captured the attention of many at the MRO conference who were unaware of the city's talents in advanced aviation, robotics, cybersecurity, and virtual (VR) and augmented reality (AR). Port San Antonio headed a delegation of businesses and partner organizations to participate in the international conference April 9 and 10 to connect with the industries that support the maintenance, repair, and over...
UT Health San Antonio Launches New Accelerator for Researchers
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UT Health San Antonio Launches New Accelerator for Researchers

A new accelerator program designed for aspiring life science entrepreneurs has joined San Antonio's entrepreneurial ecosystem. Biomedical research institution UT Health San Antonio is launching TechNovum, a new technology commercialization accelerator for faculty researchers interested in developing their inventions for the market. John Fritz and Sean Thompson of the Office of Technology Commercialization at UT Health are co-directors and mentors for the new program and will lead the educational coaching sessions. Each cohort will run annually from June through October. Plans for the first cohort are to invite five to eight teams of founder-inventors to join the program to develop medical devices for the market. The teams will meet weekly, typically in the evening, for two- to three-ho...
Alamo Angels Investor Group Searches for New Executive Director
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Alamo Angels Investor Group Searches for New Executive Director

San Antonio-based Alamo Angels, a group that invests in startups, announced Cat Dizon is leaving the executive director role and will be transitioning out later this month, according to an email sent to Alamo Angel members Tuesday. Before joining Alamo Angels in September 2018, Dizon was co-founder, chief operating officer, and partner at Active Capital, a venture firm based in San Antonio focused on leading seed rounds for business-to-business software as a service (SaaS) companies. She continued as a part-time Active Capital venture partner throughout her tenure at Alamo Angels and plans to return to Active Capital to help grow the firm she co-founded. Read more: Alamo Angels Names Cat Dizon as Its New Executive Director "With the support of Pat [Matthews, Active Capital founde...
Scaleworks Startup Mailgun Announces Exit with Private Equity Firm Thoma Bravo
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Scaleworks Startup Mailgun Announces Exit with Private Equity Firm Thoma Bravo

Mailgun Technologies, Inc., a provider of email infrastructure software, announced Monday it sold a majority stake in the company to private equity firm Thoma Bravo, a leading software-focused private equity investment firm. The transaction closed on March 26, as reported by Thoma Bravo financial advisor William Blair. Mailgun is a leading email automation platform provider for software developers and was one of eight startups in Scaleworks' portfolio. The San Antonio firm is a  hybrid venture capital and private equity fund that uses its capital to help grow the business-to-business technology startups it acquires. It was co-founded by former Rackspace executive Lew Moorman and investor Ed Byrne. The companies did not share terms, but this is the second owner for Mailgun. The compan...
San Antonio Museum of Science and Technology Summer Camp Program Offers Unique STEM Classes
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San Antonio Museum of Science and Technology Summer Camp Program Offers Unique STEM Classes

The San Antonio Museum of Science and Technology (SAMSAT) and the San Antonio Science, Technology, Engineering, Mathematics Connectery (SASTEMIC)  are collaborating on a summer program featuring science, technology, engineering, and mathematics-themed STEM-based classes. All classes will be at SAMSAT, which is located on 102 Mabry Drive on Port San Antonio’s campus. Each week-long camp features experts teaching the particular topic and opportunities for students to gain hands-on learning experience. Registration opens April 1. The cost for each week-long class is $300 which includes all materials, plus daily breakfast and lunch. Assistance for families meeting requirements for financial need is available on a first-come basis. Register for camps (add your request for assistance...
Active Capital Leads $1.75M Seed Round for Software Startup Cloudsnap
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Active Capital Leads $1.75M Seed Round for Software Startup Cloudsnap

A fast-growing Austin-based startup quietly operating since last summer has captured the attention of one San Antonio-based venture firm. Software company Cloudsnap announced Wednesday that Active Capital, which invests in early-stage software-as-a-service (SaaS) startups, is leading its $1.75 million seed round. Cloudsnap offers mid-sized companies a cloud-computing Platform as a Service (PaaS) system.  Their platform automates the secure transfer of data between third-party software applications and a company's enterprise resource planning or ERP business process management software. Companies use their ERP software to manage and integrate their financial data, supply chain, operations, reporting, manufacturing, and human resource activities across a business. Active Capital's inve...
Active Capital-Led $1.5M Funding, Workforce Grant Fuels Growth for FunnelAI
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Active Capital-Led $1.5M Funding, Workforce Grant Fuels Growth for FunnelAI

FunnelAI announced Wednesday it received a $1.5 million seed round led by Active Capital. The investment included funding from the Geekdom Fund, Europe-based retail and consumer investor True, and angel investors from San Antonio and Houston. Chief executive Sridhar Kamma co-founded FunnelAI with his sister Sujatha Kamma, who serves as chief operations officer. Suman Poluri is the third co-founder, joining FunnelAI to lead the coding team. Founded in 2017, the marketing and sales startup created a software platform that uses artificial intelligence (AI) to find online indications of intent for businesses looking for customer prospects. RealCo accelerator and micro venture capital fund co-founder Michael Girdley helped bring the company from Austin to San Antonio, where it continues i...
Trinity Student Teams Win $5K in Stumberg Seed-Round Venture Competition
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Trinity Student Teams Win $5K in Stumberg Seed-Round Venture Competition

Five Trinity University student startup teams each received $5,000 checks Tuesday evening in a venture competition that will culminate in a $25,000 investment for one of the groups this fall. The winning teams ranged from a school to strengthen mariachi culture and community to a proposed technology to make motorcycle riding safer. Seven teams competed in the annual Louis H. Stumberg Venture Competition, which is in its fifth year. "Every year the teams are stronger," said Luis Martinez, who oversees the Center for Innovation and Entrepreneurship at the university. "We had teams who prepared and did their homework even before applying to the seed round of this competition." The winning student teams included: ProjecTech, a device motorcyclists and bicyclists can use to increase ...
Scaleworks SaaS Company Keen Names Ben Kuhn as CEO
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Scaleworks SaaS Company Keen Names Ben Kuhn as CEO

One software as a service (SaaS) company in Scaleworks' portfolio has been steadily growing over the past year without an officially named chief executive officer (CEO) at its helm. Keen changed that Thursday in promoting Ben Kuhn as its new CEO. Keen offers data analytics tools to help software developers build their own analytics products.  The company built an application programming interface or API  platform that lets developers collect and study user data at a massive scale. Co-founders Daniel Kador, Kyle Wild, and Ryan Spraetz launched the startup (then called Keen.io) in 2011. Kyle Wild was Keen's CEO until Scaleworks acquired the San Francisco-area tech startup in December 2017. Scaleworks is a hybrid investment firm that mixes private equity and venture capital to acquire a...