Participated · Series C · Jun 2020

Veros Systems is an Austin, Texas-based industrial artificial intelligence company that monitors the health and performance of industrial machinery using electrical data. Led by president & CEO Jim Dechman, the company captures electrical waveforms from industrial machines and applies machine learning algorithms to continuously monitor rotating equipment health, provide real-time operating insights, and proactively predict failures. Enterprises implement Veros technology as a standalone monitoring platform, in the Cloud, or embedded within existing power distribution, metering and monitoring hardware. In November 2020 Veros closed a $2.2M Series C financing led by Shell Ventures with participation from Austin Ventures, Chevron Technology Ventures and LiveOak Venture Partners. The company said it will use the capital to expand its installed base and to enhance its cloud computing capabilities. Veros Systems offers Veros ForeSight™, an industrial asset monitoring system that provides a dashboard with real-time operating metrics and clear, early warnings with zero false alarms. The non-invasive, self-learning system typically interfaces at the motor control center or variable frequency drive enclosure and is used in topside, offshore and subsea applications. Proprietary software algorithms convert three-phase voltage and current signals into real-time operating information such as efficiency, shaft torque, mechanical load and power consumption. The product is positioned to deliver early, actionable warnings while minimizing false positives. The company is led by President and CEO Jim Dechman. The article does not provide revenue, user, or other financial operating metrics. Veros Systems develops Veros ForeSight, a non-invasive, self-learning industrial asset monitoring system that interfaces at the motor control center and acquires three-phase voltage/current signals. ForeSight displays real-time operating metrics such as efficiency, torque, load and power consumption and continuously monitors 300+ metrics to detect faults and predict failures months in advance. The system is marketed as providing clear, early warnings with zero false alarms, enabling reduced unplanned downtime, lower maintenance costs, and improved safety and efficiency. Veros highlights that engineering and maintenance managers use ForeSight to identify poorly performing assets and to plan corrective actions in advance. The company announced that Chevron Technology Ventures invested in its $8M Series A financing, following a multi-year, multi-site technical evaluation at Chevron. Veros was also selected to present at the Chevron-Oiltech Investment Network event, indicating engagement with strategic end users. Veros Systems develops the Veros System, a turn‑key predictive intelligence platform that continuously monitors the reliability and energy efficiency of electrically powered rotating machines. The system uses only electrical measurements via a simple, non‑intrusive hardware interface to existing power infrastructure and proprietary analytics to predict mechanical and electrical condition. Veros positions the product for large‑scale deployment and commercialization across manufacturing, construction, onshore and offshore oil and gas, automotive, defense and petrochemical industries. The company highlights a leadership team including founders Tommy E. Knight and Dr. Alexander G. Parlos and CEO Allan L. Wilson. Financially, Veros has been awarded the third tranche of a $1.5 million investment from the Texas Emerging Technology Fund. The company is headquartered in College Station, Texas, with offices in Austin and Houston.

Led · Series C · Aug 2017

Vyze provides a cloud-based multi-lender platform that lets retailers offer customers multiple credit options—including branded store credit cards, installment loans, and lease-to-own—through a single integration. The company is live in more than 2,000 stores across the U.S., as well as on leading eCommerce sites and call centers. Over the past 12 months Vyze more than doubled its retail client base and increased finance volume through its platform by 700%. Vyze says its platform boosts consumer approval rates to upwards of 80%, addressing high rejection rates seen in traditional retail financing. The company plans to use new capital to accelerate growth, fuel product innovation, and expand its lender partnerships. Vyze positions itself as an optimization layer between retailers and a broad lending supply to reduce abandoned sales and increase conversion. Vyze is an Austin, Texas-based technology provider of financing solutions at the point of sale. Led by CEO Keith Nealon, the company provides cloud-based financial technology combining lending supply, technology, and support to allow enterprises to deliver satisfying financing experiences for their customers, wherever and whenever they shop. Vyze's platform is positioned to integrate lending supply and technology to enable point-of-sale financing across channels. The company raised an additional $13m in Series B funding in this round. The round was led by Austin Ventures and StarVest Partners, bringing Vyze's total funding to $35m to date. Vyze intends to use the new funds to add a Tier 1 data center and to further invest in its sales and marketing efforts. NewComLink builds a technology platform for retail credit that improves consumers' access to financing at the point of need and brings new efficiencies to financing. Co-founded in 2008 by Suneet Paul and Jim White, the company has filed numerous patents, signed key customers, and developed an extensive partner network. The firm reports having signed dozens of retailers and lenders as it positions itself as an alternative to legacy payment and lending solutions. NewComLink is based in Austin, Texas and is privately held with venture capital funding from Austin Ventures and StarVest Partners. The company announced a $10 million Series B to support aggressive growth as retailers and lenders continue to embrace its platform. Leadership points to the founders' experience scaling finance businesses as underpinning the company's go-to-market strategy.

Participated · Equity · Apr 2017

Tasktop is a Vancouver, BC-based value stream management (VSM) platform provider led by founder and CEO Mik Kersten. Its platform gives enterprises real-time visibility into the health of product value streams to help teams make decisions and align with business goals. Across its product suite Tasktop provides universal metrics, unified dashboards, and integrations that reduce manual data handoffs to measure the flow of software delivery. The platform plugs into existing tools and overlays the end-to-end value stream to provide the abstractions, automations, visualizations and forensics needed for daily value stream management. Customers include BMW, CGI, E*Trade and T-Mobile, and the company serves about half of the Fortune 100. The company intends to use newly raised funds to accelerate growth and expand market leadership. Tasktop offers a Value Stream Integration platform (Tasktop Integration Hub) that unifies tools and provides a unified view across the software development and delivery lifecycle to enable large-scale Agile and DevOps transformations. The Integration Hub lets information flow frictionlessly across the lifecycle and provides transparency into the value stream even across hundreds of projects, tens of thousands of users and millions of artifacts. The company says more than one million users employ its technology and that it provides the software delivery integration layer for 43 of the Fortune 100, with customers in financial services, insurance, government and manufacturing. Tasktop also works via partners and OEM distributions with vendors including CA, HPE and IBM. Management cites a record-breaking fiscal year 2016 in which revenues grew by more than 75% compared with fiscal 2015. The company plans to accelerate go-to-market, marketing and sales activities to drive broader adoption of the Integration Hub. Founded in 2007, Tasktop Technologies is a Vancouver-based provider of Software Lifecycle Integration (SLI) and the creator of the Eclipse Mylyn open-source tool. Its core product, Tasktop Sync, aims to improve software delivery by enabling collaboration across multiple disciplines involved in development. The platform provides automated, enterprise-scale synchronization among widely adopted application lifecycle management tools, including requirements management, test management, agile project management, project and portfolio management, and service desk products. Customers include global leaders in financial services, insurance, government and manufacturing. The company is led by CEO Mik Kersten and COO/President Neelan Choksi. Tasktop has closed an $11M Series A and intends to use the funds to expand into new markets.

Participated · Equity · Nov 2016

FLASH provides cloud-born software and physical infrastructure that creates seamless customer experiences and connects operators, asset owners, and cities via a real-time marketplace for digital mobility. Its mobility operating system links parking, charging, transportation, and logistics with smart-city ecosystems and integrates with major automakers, mapping, navigation, and payment platforms. FLASH serves over 10,000 customer locations across the U.S. and Canada, processes more than 11 million parkers per month, and handles over $1 billion in annual transactions. Founded in 2011 and based in Austin, Texas, the company offers solutions including electric-vehicle charging, autonomous vehicle staging, and mobility-as-a-service. FLASH plans to expand its mobility OS and payments platform, extend digital services, and invest substantially in talent to support growth. FlashParking builds payment, monitoring and management software for parking-space providers, with its platform first launched in 2011. The company's software offers real-time data and variable pricing options and supports app-enabled parking and valet services. FlashParking positions its technology to extend to electric vehicle charging, vehicle servicing and cleaning, drone launch/landing and maintenance, and hubs for ride-hailing as part of a broader multi-modal transportation hub. CEO and co-founder Juan Rodriguez describes the platform as an operating system ready to support autonomous and robotic vehicle use cases. The company manages 30,000 parking spaces across 34 facilities in the Texas Medical Center and reports 6 million customers using its services each month. FlashParking says those customers generate around $1 billion in transaction revenue. Klever Logic provides a cloud-based parking platform—Flash Valet, FlashPARCS, and FlashMobile—that enables valet, gated, and mobile payments and lets operators manage revenue and operations from mobile, tablet, or desktop. Flash Valet originated as a cashless valet solution and led to the gated-parking product FlashPARCS after operator demand. The integrated platform delivers real-time data and a single system for operators while giving guests a mobile parking experience. In five years Klever Logic’s solutions run in over 800 venues domestically and internationally and process over 1.5M parked vehicles each month. The company plans to expand into property and hospitality management groups and into verticals such as Class A office buildings, hospitals, airports, and large event venues. Recent funding will support executive hires, scaling sales and marketing, streamlining operations, and a forthcoming brand evolution.

Participated · Equity · Oct 2016

Onit is a Houston, TX–based provider of enterprise workflow solutions covering enterprise legal management, contract management and business process automation. Its platform supports an unlimited number of solutions, from enterprise legal management (legal spend management, legal holds, e-billing, legal service requests, NDAs, matter management) to shared solutions such as contract management, SOX compliance, employee onboarding, whistleblower and budgeting. The platform scales to support thousands of users and millions of documents. Companies across a variety of industries use Onit’s technology. The company plans to use the funds to scale operations and go-to-market strategies, accelerate new product development and enhance functionality of existing product offerings. Eric M. Elfman is CEO and founder. Onit provides enterprise legal management (ELM), contract management, and business process automation software aimed at transforming how legal departments drive operational and process improvements. The company emphasizes process-focused solutions that help customers increase efficiency, accelerate transaction velocity, and reduce costs. Onit said the new capital will support continued growth initiatives and strengthen financial flexibility for domestic and overseas expansion. Management intends to use the funding to pursue potential acquisitions and to invest more heavily in R&D to improve the scalability and efficiency of its business process automation platform. The company framed the financing as access to working capital to help achieve corporate objectives. Eric M. Elfman, CEO and founder, and Silicon Valley Bank emphasized confidence in Onit’s product and team. Onit provides Enterprise Legal Management (ELM) solutions that integrate workflow and collaboration to help legal departments automate processes, accelerate transaction velocity and reduce costs. The company is led by CEO and founder Eric M. Elfman with Cole Morgan as Vice President of Enterprise Legal Management. Onit is based in Houston, TX. It raised an $8.25M financing round to support its operations. The company intends to use the funds for further development of its software offering and to make strategic hires across the company. As part of the round, Sarah Sommer of Level Equity joined Onit’s Board of Directors. Onit builds business productivity and process management applications designed to simplify business process automation and improve productivity across all departments and industries. Launched in early 2010 by legal software industry experts Eric M. Elfman and Eric A. Smith, the company initially served the legal vertical. It plans to use the funding to develop a sales and channel strategy and to expand beyond the legal market. Onit will also build out its App Builder, a self-service tool for end users to create their own Onit Apps. The company raised $4.1M in Series B financing to support these initiatives. In conjunction with the round, Austin Ventures’ John Thornton will join the board alongside Doug Erwin of RedHouse and Eric Elfman, with Erwin serving as chairman.