May 18, 2020
Houston software startup closes $17M series B
Updata Partners, a premier growth-equity venture capital firm based in Washington DC, is currently one of the funds in HX Venture’s portfolio. As a result of its investment in Updata, the Updata team has intensified its efforts in finding investment opportunities in Houston.
At this time, Updata’s team has won the lead in the Series B round financing of Liongard, one of Houston’s highest-performing software companies led by entrepreneur Joe Alapat.
Updata’s investment in Lionguard is a great example of HXVF’s model at work: HX Venture Fund invests as limited partner in Updata, and Updata is able to put multiples of that investment in Houston-based Lionguard. Now Lionguard has significant capital to grow the company as well as expert guidance and support from Carter Griffin, Jon Seeber, and Arun Singh, proven, superior venture capitalists.
A fast-growing software-as-a-service company has closed its latest round of funding to the tune of $17 million.
An information technology automation and management company, Liongard's round was led by Updata Partners with contribution by TDF Ventures, Integr8d Capital, and private investors. With customers in 20 countries, Liongard saw triple-digit customer growth and doubled its staff over the past 18 months, according to a news release.
Liongard's CEO, Joe Alapat, who co-founded the company with COO Vincent Tran in 2015, says that the new funds will continue to support its Roar platform — a software product that creates a single dashboard for all data systems and allows automation of managed service providers, or MSPs, for auditing and security within a company's IT.
Read the entire article in Innovation Map