More Money Raised in Austin

Scott Francis
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We’ve written previously about the fact that the Austin economy and startup community seems to be humming along, as well as about the economy in general, which appears to be particularly startup friendly at the moment.  Or at least, it looks like startups are back to hiring in a big way. More evidence of a change in the Austin fund-raising environment.  A couple of weeks ago Spiceworks raised $25 million– a tidy sum for an Austin startup.   Congratulations to our friends and colleagues at Spiceworks, which represents another example of Austin’s odd nexus of social, and enterprise software – a theme first made apparent to me by a speech Mike Maples, Jr. gave at Capital Factory a couple years ago.  He characterized the situation in Austin and laid out the data points – all of which I was aware of but hadn’t picked up on the emerging theme. Spiceworks is “the largest and fastest-growing social business network for IT”. Meanwhile, TabbedOut just raised another $3.7 million.  At first glance a consumer play, but it is as much about helping the enterprise (bars and other venues in this case) get paid.  Think more “OpenTable” than “Yelp”.  Actually, GigaOm has a better summary of TabbedOut than I could hope to provide, updated May 9th (Thanks to Stacey Higginbotham for the link). The money raised is a good indicator that Austin venture capital funding is getting back up off the mat.