💲 WILMINGTON – Regulatory compliance. nCino’s meteoric rise continues with the cloud banking software startup raising a whooping $80 million in equity, according to an SEC filing. Led by James (Chip) Mahan III, the CEO of Live Oak Bancshares Inc., his team set out to start nCino to develop a secure cloud-based solution that would enable banks to increase transparency, efficiency and profitability while ensuring regulatory compliance. Take a look.
🌱 ATLANTA – Cleantech. In a world where companies often ignore profit and raise more and more capital to double down on a specific vision, Cox Enterprises stands apart. As its leadership looks further into the 21st century, Cox has identified a new sector in which it intends to invest hundreds of millions with the hopes of generating billions: clean tech. “The goal with Cox Cleantech is to build an actual operating business for Cox Enterprises to diversify our revenue and cash flow,” says Will Thorburn, Cox’s Director of Cleantech Strategy and Investments. Tech it out.
☕ CHARLOTTE – Mobile ordering. Mobile ordering solution Cloosiv has raised $1 million in seed funding from several angel investors. The Charlotte-based startup provides an end-to-end platform for independent coffee shops to integrate mobile ordering into operations allowing them to compete with Starbucks’ mobile technology. “We’re continuing to expand wherever demand exists,” Cloosiv’s CEO Tim Griffin says. “We want to bolster product development and coffee shop support. Our goal is to use these funds to grow faster, which means supporting more coffee shops with the best possible product and service.” Get the deets.
👨🏽💻 AUSTIN – Company acquisition. Threatcare, an Austin-based cybersecurity startup, has been acquired by Tampa-based security company ReliaQuest. As part of the deal, Threatcare founder and CEO Marcus J. Carey will work with ReliaQuest to integrate Threatcare’s tech into their product line. Threatcare, founded in 2014 by Carey, provides cybersecurity attack simulations and has developed an AI-based security assistant for security teams. “ReliaQuest is the secret weapon of some of the world’s most trusted brands and is exactly the kind of company I like to be a part of,” Carey said. Read more.