Austin, Texas is known for its exciting live music scene, warm weather, and sporting activities for swimmers and hikers. It also should be noticed for new business ventures and opportunities. Austin has some top startups to follow in 2024, thanks to its booming economy. The metro area should be credited for part of the success of Austin's economic boost, as it has the second-fastest growing economy in the country.
There are more than 5,000 startups in Austin, with a combined value of over $128 billion. The valuation comes after the second-best venture capital funding amount was raised last year; Austin reached $5 billion in 2022. As with any industry, local support has been essential to getting Austin to where it is today. The Austin Texas government offers various schemes in order to support startups and other businesses relocating to Austin. There is a business expansion incentive program that works as a pay-for-performance programme. Austin Texas startups are also offered energy rebates for small businesses.
1. Founderpath
Year Founded: 2020
HQ: Austin, TX, United States
Size: 1-10
Founders: Nathan Latka
Founderpath is a startup in Austin that was founded in 2020 and operates in the financial sector within Austin's economy. The top startup helps Software as a Service founders to get capital without them having to raise equity. One benefit for customers of Founderpath is that they get more than 12 months to pay back at a rate of just 8%.
Since launching in 2020, the Austin startup has managed to raise $161M in total funding amount. This was made across five funding rounds supported by eight investors, with three lead investors. The most recent funding round took place on the 9th of August, 2022.
2. HeadRace
Year Founded: 2021
HQ: Austin, TX, United States
Size: 11-50
Founders: Amos Barreto, Kevin Brinig, Laszlo Korsos
HeadRace is another top startup from Austin that could be worth your time to watch in 2023. The company is working to democratise the hiring process. HeadRace operates in the B2B, predictive analysis, and recruiting sectors offering a platform for its customers, to make recruitment easier and more efficient. The platform allows recruiters to focus on the recruiting process, rather than worry about the overheads.
After its launch in 2021, the company has completed just one funding round, which took place on the 9th of March, 2023. This was a Seed funding round and raised the Austin startup $6M. The funding round was funded by six investors, with three lead investors. Some of the investors include Packy McCormick and Blue Lion Global.
3. Jasper
Year Founded: 2021
HQ: Austin, TX, United States
Size: 101-250
Founders: Dave Rogenmoser, John Philip Morgan
Jasper is a startup from Austin which has created an AI content platform for its customers. The platform allows users to use artificial intelligence to improve and upscale their content and their marketing strategies. Some of the things that the AI content platform can help with includes SEO content, video scripts, blog content, and so much more.
The Austin startup has completed three funding rounds so far, raising a total funding amount of $131M. The funding rounds have been supported by eleven investors, with two lead investors. Jasper closed its most recent funding round on the 18th of October, 2022 and it was a Seed A round.
4. Niural
Year Founded: 2022
HQ: Austin, TX, United States
Size: 51-100
Founders: Nabin Banskota, Nami Baral
The next top startup on our list is the fintech company Niural. This business works in the compliance, fintech, and human resource sectors. Hundreds of businesses have already invested their trust into Niural, to help pay and hire remote teams. The platform provides an all-in-one space for businesses to simplify the hiring process, manage payroll and global payroll, keep track of compliance, and manage a team.
Since being founded just last year, the Austin startup has yet to share any details about completed funding rounds or investor information.
5. Sana Benefits
Year Founded: 2017
HQ: Austin, TX, United States
Size: 101-250
Founders: Nathan Hackley, Will Young
Sana Benefits is a startup from Austin, founded in 2017. The company operates in the employee benefits and healthcare industries, providing insurance health plans. This top startup offers services to both small and medium-sized businesses, as well as to individuals. The company offers its customers quick access to support via phone, chat, or email, as well as affordable plans, helping businesses to save money. Within Sana Benefits, businesses' employees have access to medical, dental, and vision coverage. The $0 healthcare options cover virtual care, imaging services, maternity, and labs.
The startup closed its most recent funding round on the 15th of July, 2022, which was a Series B funding round. In total, the company has completed five funding rounds which have raised a funding amount of $106.8M. These rounds were supported by nine investors, with two lead investors.
6. CesiumAstro
Year Founded: 2017
HQ: Austin, TX, United States
Size: 51-100
Founders: Shey Sabripour
The next top startup on the list to follow in 2023 is CesiumAstro. This is a fascinating startup working in a really exciting industry. CesiumAstro is working to reinvent the world of communication that is out of our world. The startup provides communication systems for all things from satellites, to launch vehicles and UAVs, as well as other space and airborne platforms. Using up-to-date technologies in manufacturing and semiconductors, the business offers cost-effective solutions for any scale.
CesiumAstro has completed four funding rounds, the most recent of which was closed on the 2nd of March, 2022, and was a Series B round. Ten investors have supported the Austin startup so far, and have helped the company to raise a total funding amount of $88.2M.
7. Method Financial
Year Founded: 2021
HQ: Austin, TX, United States
Size: 11-50
Founders: Jesus Marco del Carmen, Jose Bethancourt, Mit Shah
Method Financial is another top startup from Austin Texas, and is worth following this year. The startup works in the banking and financial services sectors. Method Financial is a debt repayment application programming interface (API). The interface facilitates payments for a range of different debts, for multiple industries. These include lending, HR and benefits, and personal finance.
Since being founded in 2021, the company has completed just two funding rounds, that together, have raised a total funding amount of $18.5M. Sixteen investors, with one lead investor, have supported the Austin-based startup to reach its funding amount.
8. Atmosphere
Year Founded: 2019
HQ: Austin, TX, United States
Size: 101-250
Founders: John Resig, Leo Resig
Atmosphere is a top startup from Austin, founded in 2019 by John Resig and Leo Resig. The company operates in the TV industry within the media and entertainment sector. Atmosphere provides its customers with a TV streaming service. The platform is designed for businesses, with access to 21 original and partner TV channels. The point of Atmosphere is to help businesses provide the best experience for their customers by creating a great atmosphere. The TV platform provides mood-enhancing content so customers can enjoy their experience when visiting a business.
$213.7M is the current total funding amount raised so far by the startup, with help from five investors. The most recent funding round was a Series D round which was closed on the 7th of February, 2023.
9. ClosedLoop
Year Founded: 2017
HQ: Austin, TX, United States
Size: 51-100
Founders: Andrew Eye, Dave DeCaprio
ClosedLoop is an Austin startup working with artificial intelligence to predict the future. The company does this within the healthcare industry, using accurate predictions from healthcare data analysed through artificial intelligence solutions. ClosedLoop's predictions can be used to understand health conditions and what might be preventable, as well as what treatments can be used.
Andrew Eye and Dave DeCaprio founded the startup which has now completed six funding rounds with support from thirteen investors. These funding rounds have raised a total funding amount of $49.1M. The most recent of the six funding rounds was closed on the 31st of August, 2022.
10. Podium Education
Year Founded: 2019
HQ: Austin, TX, United States
Size: 101-250
Founders: Alex Ricken, Brooks Morgan, Chris Parrish
Podium Education is the next startup on the list from Austin. This company is operating in the industry of e-learning for higher education. Podium Education has partnered with institutions for higher education, so they can provide education on technology and intercultural competency while being for credit for students within the institutions. This way, institutions can offer a wider range of education resources, and still credit students for their learning. Podium Education has a goal to 'supercharge' the experience for undergraduate students.
Since launching in 2019, the founders have managed to complete two funding rounds, acquiring ten investors, with four lead investors, and $32M in total funding. The company's most recent funding round took place on the 30th of August, 2022, and was a Series B round of funding.
11. Maven
Year Founded: 2020
HQ: Austin, TX, United States
Size: 11-50
Founders: Gagan Biyani, Shreyans Bhansali, Wes Kao
Maven is another e-learning startup from Austin. The founders of Maven created an e-learning platform using e-technology, so people can learn from experts live online. Maven offers its customers a wide range of different courses, ranging from topics on business to marketing, engineering, design, leadership, and product development. Within each subject, there are lots of options for courses that Maven's customers can choose from.
The Austin-based startup has raised a total funding amount of $25.1M since launching in 2020. This has been made possible across three funding rounds, the latest having just closed on the 20th of May, 2021 as a Series A round. The three rounds together have been funded by eleven different investors, with two lead investors.
12. Mothership
Year Founded: 2017
HQ: Austin, TX, United States
Size: 51-100
Founders: Aaron Peck, Gregg Luskin
The next top startup on the list is a company called Mothership. The startup operates in the freight service and logistics industries. Mothership's platform allows businesses to book trucks on demand, ready for whenever they need them. Businesses can also track the freights in real-time through Mothership, so they know the exact timings of when the journey will be completed. Customers of Mothership also have access to same-day delivery.
$76M is the total funding amount that has been raised so far by the Austin startup, with help from four investors. This money was made in just one funding round, that took place on the 10th of May, 2022.
13. the aifleet inc.
Year Founded: 2020
HQ: Austin, TX, United States
Size: 101-250
Founders: Marc El Khoury, Mark Farkas
The next top startup on the list is called the aifleeet inc. It is an Austin-based startup worth watching if you want to know more abot upcoming businesses in the artificial intelligence scene. The business wants to use artificial intelligence, to help make the world of trucking more human, and focus on the hard-working truck drivers. the ai fleet inc. or otherwise known as aifleet, guarantees drivers pay, a reliable schedule for hometime, and good care.
Since launching just a few years ago in 2020, the company has managed to complete three funding rounds which have been supported by four investors. With the help of these four investors, the company has raised a total funding amount of $25.1M.
14. NeuroX1
Year Founded: 2021
HQ: Austin, TX, United States
Size: 1-10
Founders: Conner Myers, Lucas Myers, Maxwell Dordevic
NeuroX1 is the next startup on the list to follow in Austin through 2023. This business is another artificial intelligence startup, but instead, works with AI in the biopharma industry. NeuroX1 uses generative AI, data, and machine learning, to help make therapeutics for different neurodegenerative disorders. The business hopes to set a new standard for computational neuroscience, by using its platform to better understand the brain and its degenerative disorders.
Conner Myers, Lucas Myers, and Maxwell Dordevic founded the company and worked with three investors across two funding rounds, to raise a total funding amount of $1.8M.
15. AiMi
Year Founded: 2019
HQ: Austin, TX, United States
Size: 11-50
Founders: Edward Balassanian
AiMi is an Austin startup that has created a platform for generative music. The platform is an interactive music player and changes how music is experienced by the listener. AiMi's platform is downloadable from the Apple app store, or through Google Play. This top startup offers its costumes with a unique experience to make them fall in love with generative music, bringing the science and technology behind great music, to human ears and hearts.
$20M is the total funding amount that has been raised so far by three investors over two funding rounds. The most recent funding round was a Series B round and was closed on the 19th of November, 2021.
16. Billd
Year Founded: 2018
HQ: Austin, TX, United States
Size: 51-100
Founders: Christopher Doyle, Jesse Weissburg
The next Austin startup on the list to follow in 2023 is called Billd. It is a fintech company, offering financial services, designed for subcontractors. The purpose of the company is to help those needing financial assistance for current and future projects. This way, subcontractors don't fall at the first hurdle, as they can cover the upfront costs, then focus on developing the best project after.
With help from four investors, the company has raised a total funding amount of $190M. This was made across three funding rounds, the most recent of which was closed on the 1st of November, 2022.
17. Setpoint.io
Year Founded: 2021
HQ: Austin, TX, United States
Size: 11-50
Founders: Ben Rubenstein, Michael Lam, Stuart Wall
Setpoint.io is an Autin-based startup that was founded by Ben Rubenstein, Michael Lam, and Stuart Wall in 2021. The information technology company that has designed a platform for the foundation of real estate infrastructure and innovation. This top startup replaces confusing spreadsheets with the best software for automated workflow management. The software is also directly connected to real-time third-party both Diligence Agent and Calculation Agent services.
Since being founded in 2021, the company has run a Series A funding round, which was closed on the 7th of December, 2022. This raised the company a total funding amount of $43M, and this was made possible with support from ten investors, with one lead investor.
18. Best Book Writers
Year Founded: 2022
HQ: Austin, TX, United States
Size: 101-250
Founders: Unknown
Best Book Writers is another top startup from Austin that is worth keeping an eye on through this year. The company works in the e-books industry and is helping people's dreams come true with their book writing services. Best Book Writers offer ghostwriting services for those who have incredible ideas for books but need some help getting them written. The company also offers other book services, including book editing, e-book cover design, book marketing, memoir writing, and much more.
Currently, the business does not have any information accessible about any funding rounds that may have taken place.
19. ConverseNow
Year Founded: 2018
HQ: Austin, TX, United States
Size: 51-100
Founders: Rahul Aggarwal, Vinay Shukla
ConverseNow is the next Austin startup to follow in 2023. It operates in the customer service sector, utilising artificial intelligence to offer to its customers. The business offers conversational AI that automates drive-thru and phone orders. Not only this, but the AI works with great accuracy and is the most recent artificial intelligence advance for restaurants.
Since launching in 2018, the business has completed three funding rounds, raising a total funding amount of $28.3M. This was made possible through support from twelve investors, with three lead investors. The most recent funding round was a Series A round, which closed on the 23rd of August, 2022. One other funding round was closed in July 2021, and another in May 2020.
20. REALLY
Year Founded: 2022
HQ: Austin, TX, United States
Size: 11-50
Founders: Unknown
REALLY is a service industry and telecommunications startup from Austin Texas. The business offers customers a new phone service, starting at just $7 a month. REALLY is based on the concept of local people helping local people. When customers pay their phone bills, they are supporting their own town, as the network is owned by the local schools, nonprofits, and the people.
$18M has been raised so far as the total funding amount, made possible with support from two investors. This money was raised directly from just one funding round, which was closed on the 28th of February, 2023.
21. Nevly
Year Founded: 2021
HQ: Austin, TX, United States
Size: 1-10
Founders: Eric Blue
Nevly is a fintech company that offers its customers a personal finance super app. The app was designed specifically with customers in mind, with the purpose to help members look after their money differently. The business understands that financial freedom is different for all, so the Austin startup wants to help its members to reach their own financial goals, with personal finance management tools in an easily accessible app.
The top startup has managed to raise a total funding amount of $1.3M. This was in just one funding round, with help from an investor. The round was completed on the 9th of February, 2023.
FAQs
How Many Startups Are There in Austin?
There are around 5,500 startups in Austin, Texas.
What is the Average Investment in Austin Startups?
With an impressive number of Unicorns, Austin startups gained a total value of $4.9 billion last year.
What Startup Industries Are The Strongest in Austin?
Some of the strongest industries in Austin include education, technology, and finance.
