Follow the Money: INTREorg Gets $247K, Firm Raising $5M for Robokind, projekt202 Acquires Studio

From Cypress Growth Capital to Modo Payments and Ancor Capital Partners, here are some of the deals involving companies and investors with North Texas ties.

funding

INTREorg RAISES $247K IN POST-IPO ROUND

Southlake-based INTREorg Systems has raised $247,000 in a post-IPO equity round, Crunchbase reported.

The firm provides shareholder intelligence and IT and consulting services, including management, compliance, and finance, and it has now raised $497,000 in two rounds since 2012. The company was founded in 2003.

On its website, INTREorg said its mission is to become “the recognized industry leader in shareholder analytics, corporate compliance, and relating consulting services for public companies.”

TRINITY PRIVATE EQUITY RAISING $5M FOR ROBOKIND

A Robokind robot. [Photo by Marissa DeFalcis]

The Dallas Business Journal reported that Southlake-based investment firm Trinity Private Equity Group is raising another $5 million for its portfolio company Robokind, citing a filing.

RoboKind is a Dallas-based technology firm that creates facially expressive robots and curriculum used for education and autism therapy.

The publication said that since 2016, TPEG has invested $7.8 million so far into the educational robotics company.

FARM2COOK $250K INFUSION BOLSTERS ORGANIC MEAT COMPANY

Plano-based new-age organic meat company Farm2Cook raised $250,000 in a venture funding round, bringing its total funding so far to $300,000.

Farm2Cook was founded in 2017 by Nathan Pinto, who said the company was created to disrupt the ethnic meat market. He said the company is one of the few sources for fresh goat meat and free range chicken in North Texas. The funding will bolster the company’s growth.

“We’re opening our flagship location in Frisco,” Pinto told Dallas Innovates. “We have a farm, we have a store, and we have delivery.”

Pinto said that goat is the second most-consumed meat in the world, but that it “has yet to hit its stride in the U.S.”

SATORI CAPITAL RAISES $52.6M FOR THIRD FUND

Dallas-based private equity firm Satori Capital has raised $52.65 million for its third fund.

Minimum investment in the fund is $1 million, according to a filing with the Securities and Exchange Commission.

Satori made news in April when it said it was sweetening its investment in Phoenix-based snack maker SunTree by putting in another $20 million.

COMERICA BANK INVESTS $10M IN DENVER CLOUD COMPANY

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Comerica Bank is headquartered in Dallas. [Photo by Lance Murray]

Dallas-based Comerica Bank has invested $10 million in Denver-based JumpCloud, a cloud-based Directory-as-a-Service provider that connects and manages employees, devices, and IT apps, Crunchbase reported.

JumpCloud’s platform securely manages and connects users to their systems, applications, files, and networks, according to the company’s website.

Earlier this year, JumpCloud was ranked No. 15 on the SaaS 1000, a ranking founded by Tom Blue that uses an algorithm to estimate employee growth and the most-rapidly accelerating SaaS companies.

MODO GETS $5.2M IN FUNDING FROM DEUTSCHE BANK DEAL

Last week, we wrote that Deutsche Bank had acquired an equity stake in Richardson-based payments technology company Modo Payments, and at the time we didn’t know how much the investment totaled.

Bruce Parker

Bruce Parker of ModoPayments [Photo Courtesy of ModoPayments]

According to a filing, that investment was $5.2 million and is related to Deutsche Bank’s acquisition of Modo.

Modo founder and CEO Bruce Parker said the company is excited to see where the deal will take it.

“The Modo team is focused on doing the most good for the most people by reducing friction in payments,” Parker said. “That is why we do what we do every day, and this partnership with Deutsche Bank is a great opportunity to work with one of the world’s largest payment providers that can implement our technology on a global scale and further our reason for being.” 

CYPRESS GROWTH CAPITAL INVESTS IN MORTGAGE TECH COMPANY

Cypress Growth Capital, a Dallas-based venture capital firm, has invested in FirstClose, an Austin-based mortgage technology company.

No financial terms were released, but the Dallas Business Journal reported that it was a “multi-million-dollar” investment. Cypress Growth decided to invest in FirstClose—which works to help lenders make mortgages more quickly and cheaply—as the market is being squeezed by a “lack of demand and increased competition,” the DBJ reported.

MERGERS & ACQUISITIONS

PROJEKT202 ACQUIRES CHICAGO AREA DIGITAL STUDIO

Dallas-based experience-driven design and development firm projekt202, announced it has acquired ORA, an award-winning user experience and digital product studio.

The move marks projekt202’s expansion into the Chicago area.

“Last year, businesses around the world reached a crucial tipping point, as more than half of all people accessing the web did so via mobile devices rather than using their desktops.”
David Lancashire

“Last year, businesses around the world reached a crucial tipping point, as more than half of all people accessing the web did so via mobile devices rather than using their desktops,” projekt202 CEO David Lancashire said in a release. “The ORA team’s deep strengths in mobile enable us to further support our clients at this very important touch-point.”

Projekt202 said the strategic move builds its position as a global leader in experience-driven software design and development.

“Our team is extremely excited about this new stage of growth,”  Mike Kelly, CEO of ORA and newly-named general manager of projekt202 Chicago in a release. “Joining projekt202 allows us to help clients in the Chicago market improve their customer and employee experiences across all the potential moments in the digital journey.”

The Chicago location joins projekt202 offices in Seattle and Austin, and its Dallas headquarters. Projekt202 has more than 300 employees in design, development, research, digital marketing, and other fields, the company said.

ANCOR CAPITAL ACQUIRES MEDTECH COMPANY STATINMED

Vic Keller

Southlake-based private equity firm Ancor Capital Partners has acquired STATinMED Research, a medical technology company in the health economics and outcomes research field.

While no financial terms were release, Ancor said it was the firm’s largest acquisition to date.

“Adding STATinMED Research to the Ancor portfolio complements our long-term growth strategy – taking established, successful companies and accelerating their position in the market,” Ancor Capital Partners Managing Parnter Vic Keller said in a release. “The HEOR industry is a complex and fast-growing discipline. As the nation’s economy continues to be challenged by escalating health care costs, STATinMED has emerged as one of the primary drivers of innovation whose trusted research influences strategic health care decision-making.”

PE FIRM GETS MAJORITY STAKE IN GETAROOM

The Dallas Business Journal reported that the founders of hotel booking company Getaroom have sold a major stake to Court Square Capital, a New York private equity firm.

“The time was right as we are at the crossroads of becoming a much larger organization as demand for our product and services has skyrocketed,” Getaroom President Bob Diener told the Dallas Business Journal.

Diener and Getaroom CEO David Litman previously started Hotel Reservations Network, which then became Hotels.com, the DBJ said.

FORT WORTH-BASED ECi SOFTWARE ACQUIRES VINEYARDSOFT

Fort Worth-based ECi Software Solutions, a provider of cloud-based business management software and services, has acquired Vineyardsoft Corp., a leader in Business Activity Monitoring software. No terms of the deal were released.

Vineyardsoft was founded in 1999, and its flagship solution, KnowledgeSync is a widely used alerts and workflow solution.

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