Texas Weekly Deal Highlights
October 5, 2025
ACL is here, and so is your Austin Weekly Deal Highlights, what a treat!
Let’s not dwell on day five of the government shutdown. Instead, let’s celebrate record highs across the major indices, a massive $1.25 billion Austin acquisition, and yet another nine figures in local funding activity!
Austin Deal Activity
Iodine Software (Austin) has been acquired for $1.25B by Waystar, headquartered in Utah and Kentucky. Advent International made a strategic growth investment in Iodine in late 2021, acquiring a significant minority stake in a deal that valued the business at over $1B. Bain Capital Ventures and Silversmith Capital Partners had earlier invested (circa 2018) and remained shareholders during the Advent transaction.
Significo, an Austin-based digital therapeutics startup, closed a Series B round led by JSTAR Capital Investments at a $100M valuation. Deal size was not disclosed.
Scorability, a recruiting platform that helps college coaches discover and evaluate athletes, raised $40M in a Series A round led by Bluestone Equity Partners, with participation from Silverton Partners, Next Coast Ventures, Luther King Capital, and others. $51M raised to date.
Pixion Batteries, a developer of advanced battery manufacturing technologies, raised $2.22M in a Seed round led by MicroVentures, M7, Ace Neo. $2.22M raised to date.
Greater Texas Market Deals
AA Mission Acquisition II (The Woodlands), a SPAC focused on acquiring food and beverage businesses in Asia, raised $100M in its initial public offering. $100M raised to date.
Fermi (Amarillo), a provider of large-scale AI data center and energy infrastructure, raised $682.5M in its initial public offering led by UBS, Evercore ISI, Cantor, Mizuho. $1.03B raised to date.
DataJoint (Houston), a computational database and AI platform for life sciences and academic research, raised $4.9M in a Seed round led by Inoca Capital, Nina Capital, Capital Factory and others. $4.9M raised to date.
Aragorn (Plano), a no-code platform that automates and manages employee data integration, raised $4.3M from undisclosed investors. $5.58M raised to date.
Austin News
Firefly Aerospace’s stock tumbled after a rocket test in Briggs, north of Austin, ended in an explosion. The incident comes less than two months after its $868M IPO in early August.
Ethos Technologies Inc. is reportedly working with Goldman Sachs on a potential IPO. The life insurance platform recorded a 55% jump in revenue in the first half of 2025.
Electronic Arts (NASDAQ: EA), which has maintained an Austin presence for decades, is set to be taken private in a $55B all-cash deal.
Blue Sage Capital, an Austin-based private equity firm, raised $287M for its Blue Sage Strategic Credit Fund LP, surpassing both its $150M target and $262M hard cap.
17 total deals logged across September in Austin highlighted by a $3B PE fund, a $160M CPG transaction, and a biotech raising $100M out of stealth. Recent M&A include Tito’s acquisition of Lalo Tequila, deals by Harbor Health and EqualizeRCM.
CrowdStrike (Austin) appointed Amjad Hussain as its first Chief Resilience Officer. He was previously CTO at Vanilla.
Iris Telehealth named David Barley to the newly created role of Chief Solutions Officer.
Accelint, which expanded to Austin through its 2024 acquisition of Hypergiant Industries, appointed Brian Morrison as CEO.
Tekton Research (Austin) named Corey A. Collins as CEO. Tekton Research is a multi-state clinical research site network. Collins joined Tekton in December 2023 as Chief Financial Officer, bringing over 20 years of financial and operational leadership experience across the pharmaceutical and manufacturing sectors.
See you next week! —Mason & Joel
This edition was supported by Bradford Martin.
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