Pitney Bowes buys Newgistics for $475M
Littlejohn & Co, the private investment firm that purchased Austin-based Newgistics in 2013, announced on Wednesday that it will sell the company to Pitney Bowes for $475 million. While owned by Littlejohn, Newsgistics grew by more than 50 percent in revenue and earnings. Newgistics launched in 1999 and provides logistics solutions to e-commerce and direct-to-consumer retail companies. [Press Release]
Favor pulls in $22M Series B from local VC
Texas's favorite delivery service app, Favor announced a $22M Series B today led by Austin-based S3 Ventures. The funding will be put toward product development and to expand its existing delivery zones. In conjunction with today's news, the company also announced that it turned a profit, half a year ahead of schedule, after implementing its new strategy. [Built In Austin]
Austin tech makes big presence on this year’s Best CEO awards
Austin Business Journal released the nominees for this year’s Best CEO awards, featuring 74 candidates. Nearly half of the candidates come from the Austin tech industry. Winners will be announced at a private reception on October 11. data.world CEO Brett Hurt will be presented with the Best CEO Legacy Award. [Austin Business Journal]
Civitas Learning, higher ed community launch Harvey relief to support college students
Civitas Learning, an Austin edtech company supporting higher ed, joined Texas and national leaders from higher ed associations, institutions, foundations and businesses to launch the Harvey HELP fund. The crowdsourced relief fund will provide aid to nearly 500,000 college students affected by Hurricane Harvey to help them stay on or return more quickly to their education pathways. Tax-deductible donations can be made through the Harvey HELP GoFundMe page. [Press Release]
Capital Factory announces $100,000 Diversity and Inclusion Investment Challenge
Capital Factory has launched a $100,000 Diversity and Inclusion Investment Challenge to fund a startup founded or run by a member of an underfunded and underrepresented group — including people of color, women and the LGBTQ+ community. Startups can apply through AngelList to be one of the five selected to pitch on September 29. Applications are due September 15th. [Press Release]
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