Tag: Pat Matthews

Cloudsnap Hires Former Rackspace Executive as CEO, Lands $1.8M from Active Capital to Fund Growth
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Cloudsnap Hires Former Rackspace Executive as CEO, Lands $1.8M from Active Capital to Fund Growth

Cloudsnap, a fast-growing Austin-based software company, announced Thursday a $1.8 million funding round led by San Antonio venture firm Active Capital and Houston-based Mercury Fund as well as the hiring of former Rackspace executive Matt Bradley as its new chief executive officer (CEO). Both moves help position the software as a service (SaaS) startup for more aggressive growth. Cloudsnap offers mid-sized companies a cloud-computing Platform as a Service (PaaS) system that 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 ERP software to manage and integrate their financial data, supply chain, operations, reporting, manufacturing, and human resource act...
Cliently Scores $1M Seed Round from Active Capital, Moves to San Antonio
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Cliently Scores $1M Seed Round from Active Capital, Moves to San Antonio

One San Antonio-based venture capital firm is living up to its name, investing actively in promising business to business (B2B) software as a service (SaaS) startups which in this case, has lead to a promising company relocating to San Antonio. Cliently announced Tuesday its $1M million seed funding round led by Active Capital with participation from the Altair Capital Management company based in Tel Aviv, Israel. This most recent round is Cliently’s largest to date, having raised $500,000 previously. Active Capital’s investments include software businesses across the U.S. led by founders offering B2B services such as cloud computing, sales generation, and accounting technology Cliently chief executive officer (CEO) Spencer Farber launched the company to provide businesses an automat...
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...
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...
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 Raises Over $21 Million Leading Seed Rounds for 20 B2B SaaS Startups
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Active Capital Raises Over $21 Million Leading Seed Rounds for 20 B2B SaaS Startups

In less than two years, venture capital firm Active Capital has raised over $21 million for 20 founder-led companies in the business-to-business (B2B) software as a service (SaaS) market. The San Antonio-based firm’s portfolio has two companies operating in stealth mode, five startups from San Antonio including FunnelAI and Flightpath Finance, and five based in Austin, including Pingboard. The remaining companies are located in mostly metropolitan areas across the U.S. Read more: San Antonio Venture Firm Active Capital Leads Funding for Pingboard Pat Matthews is the founder of Active Capital, as well as an entrepreneur and an angel investor in more than 50 startup companies. He raised $21.5 million over the past 18 months so Active Capital could lead seed rounds for the founder-led B...
Flightpath Finance Closes $515K Seed Round, Wins $25K Geekdom Community Fund
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Flightpath Finance Closes $515K Seed Round, Wins $25K Geekdom Community Fund

Flightpath Finance, a financial modeling service for small to mid-sized technology companies, announced Tuesday their $515,000 seed round investment from a leading venture capital firm and angel investors. The Geekdom member startup also won the Geekdom Community Fund $25,000 award Friday. The company sells the Connected Financial Model, a financial modeling software as a service (SaaS) planning tool for businesses to track and forecast revenue, cash, and expenses. The platform integrates with the customer’s accounting and internal data sources to provide a financial dashboard that is always up-to-date. Active Capital, a San Antonio-based venture firm that leads seed rounds for founder-led, business-to-business (B2B) SaaS companies, led Flightpath Finance’s seed investment funding ro...
San Antonio Venture Firm Active Capital Leads Funding for Pingboard
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San Antonio Venture Firm Active Capital Leads Funding for Pingboard

Pingboard, a business to business (B2B) Software as a Service (SaaS) company, announced its latest $5 million round of seed funding led by Active Capital. The San Antonio-based venture firm is focused on leading seed rounds for founder-led, B2B SaaS companies. Pat Matthews, founder and CEO of Webmail.us which was acquired by Rackspace in 2007, decided to launch Active Capital in 2016. This is Active Capital’s 10th deal to date. Other deals have been with startups located in cities across the U.S. like Super Dispatch in Kansas City, which automates software workflows and payments for the trucking industry. Bill Boebel and Rob Eanes founded Austin-based Pingboard in 2013 when they incubated the concept at the Capital Factory. Pingboard’s software is used to create and maintain changing...