Follow the Money: Door Gets $5.4M, Ikonopedia Nets $2M in Series C, Muzooka Notes $3.9M

You’ll also find news about EnTouch Controls, Sea Pine Technologies, Worksoft, TPG Capital, and SanoTech 360 in this roundup of investment, merger, and acquisition activity involving companies and investors in North Texas.

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Real estate startup Door closes on $5.4M in funding round

Dallas-based Door Inc. said in a new filing with U.S. Securities and Exchange Commission that it has raised nearly $5.4 million of a $10 million funding round. It’s an infusion of cash from existing investors, Door said.

Door is a tech-enabled residential real estate brokerage firm that was founded in 2015. It enables homebuyers and sellers to benefit from agent specialization and a lower fee structure. Its services are available for a fixed fee of $5,000 that is paid at closing.

CEO Alex Doubet told Dallas Innovates via email: “Our current investors and board had the desire to increase their investment before we raise a  traditional ‘B’ round.” 

As of the end of 2018, Door had raised more than $12 million in four funding rounds, according to Crunchbase.

Door is a money-saving brokerage tool that has the potential to disrupt the home-buying industry, perhaps at the expense of personal relationships with realtors. Doubet took to LinkedIn to explain why disrupting real estate is a harder feat to accomplish than disrupting the traditional taxi model, which rideshare apps did with aplomb.

Texas Women Ventures Invests in Ikonopedia’s $2M Series C round

Ikonopedia, the Richardson medtech company that offers a next-generation breast radiology reporting and patient tracking, announced that Dallas-based Texas Women Ventures Capital has invested in the company as part of its $2 million Series C Preferred Stock funding.

The company said that the funding will help aid in key product development initiatives and propel continued growth of its customer base. Ikonpedia said that Texas Women Venture Capital Managing Director and co-founder Whitney Martin will join its board of directors.

“Driving breast imaging efficiency and patient safety, Ikonopedia helps ensure that women get accurate and timely information about their breast care, which can lead to better outcomes,” Martin said in a statement.

Ikonopedia said that it recently began, or completed, installations across a range of breast imaging practices and large radiology groups, including Sinai Health System in Chicago, Diagnostic Clinic of Longview in Texas, Invision Diagnostics in Florida and North Carolina, Breast Cancer Detection Center of Alaska, and Maui Medical in Hawaii.   

Muzooka raises $3.9M of $5M offering

Muzooka, a music technology company headquartered in Southlake, has raised more than $3.9 million of a $5 million offering, the company said in a filing.

Muzooka describes itself as a platform on which artists and their teams manage their own media assets across multiple platforms from one central hub. The company also automates the process for live setlist reporting to Performing Rights Organizations around the world.

EnTouch Controls raises $1M in new funding round

EnTouch Controls, a technology developed in Richardson that provides software to help its clients lower the energy consumption in their buildings, has raised $1 million as part of a new offering seeking a total of $3 million, according to a filing.

The Dallas Business Journal reported that EnTouch is backed by several private equity firms, including Trailblazer Capital and New Jersey’s Egis Capital Partners. The business publication said that the company recently raised $3.2 million as part of a funding round that started in 2017. 

MERGERS & ACQUISITIONS

Zurich Insurance Group buys Dallas’ Sea Pine Technologies

Dallas-based insuretech startup Sea Pine Technologies has been acquired by Zurich Insurance Group, an Illinois-based finance and insurance giant.

No terms of the deal, which closed in January, were released.

Zurich said it began a relationship with Sea Pine last year when the companies collaborated on a pilot program with automotive dealers that tested Sea Pine’s services, according to a report in Chicago Inno. The deal will help Zurich expand offerings to the automotive industry, the company said.

Investment firm acquires Addison test automation software provider

Addison-based Worksoft Inc., a provider of continuous test automation software, is being acquired by Marlin Equity Partners, a global investment firm with more than $6.7 billion in capital under management.

Worksoft is a provider of an end-to-end continuous test automation platform for packaged applications like SAP, Oracle, Salesforce, and Workday. No financial details were disclosed.

Marlin said its investment and operational support will allow Worksoft to quickly scale its platform, helping global enterprises boost the speed, accuracy, and coverage of process testing in a growing, diverse business application landscape.

TPG-backed company acquires healthcare software provider

WellSky, a health and community care technology company that is backed by Fort Worth-based TPG Capital, has acquired Health Care Solutions Inc., a provider of integrated clinical and financial IT software for long-term and post-acute care providers. No financials terms of the deal were disclosed.

According to PE Hub, HCS’s software platform serves providers across a variety of healthcare areas, including long-term acute care hospitals and inpatient psychiatric, inpatient rehab, senior living, and long-term care facilities.

SanoTech 360 acquiring Fort Worth-based EMist Innovations

Disinfection services provider SanoTech 360 announced that it will buy the assets of another Fort Worth company, EMist Innovations. No financial terms of the deal were released.

EMist is a developer of electrostatic disinfectant application systems that it says deliver safer surfaces at lower costs while reducing manpower and keeping people healthy.  SanoTech 360, a provider of clinically-proven products and services, said the acquisition will allow it to capitalize on opportunities in the disinfection field. 


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