Hippo insurance goes public, Rey got $ 10 million plus Austin Tech News

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photo: hippo insurance

Austin’s tech scene is shining with innovation after several companies announced big news last week. Find out who raised new funds, moved their headquarters and more. This is the Built In Austin weekly update.

Hippo Insurance went public. After completing a merger with SPAC Reinvent Technology Partners Z, the insurtech unicorn is now valued at $ 5 billion. With its expected $ 550 million in revenue, Hippo is planning to expand into new markets and develop new product offerings as it works to improve the insurance underwriting experience. The company operates under the HIPO and HIPO.WS symbols. [Built In Austin]

Abrigo raised new funds. The financial software developer received a strategic growth investment from Carlyle. Its solution helps banks manage risk, fuel growth and process loans. Abrigo is planning to invest in mergers and acquisitions, as well as to increase customer relationships and fuel sales. He is also currently taking on roles among his teams, including finance, human resources and engineering. [Built In Austin]

Austin Tech Quote of the week

We look for opportunities in different types of technology. It’s not just VR; we also have web and mobile technology. As long as it has clinical validation that can deliver good, quality results and really help people, we integrate it into our practice. Deepak Gopalakrishna, founder of Rey

Rey secured $ 10 million. Offering an approach to mental health that uses technologies such as virtual reality, Rey offers members teletherapy for phobias, post-traumatic stress disorder, social avoidance and psychosis. As mental health becomes more and more critical during the pandemic, Rey has closed her Series A, bringing the round to $ 26 million. With the money, it is investing in expanding its solutions for individuals and businesses, as well as extending its services to up to 10 states. [Built In Austin]

GovOS is moving to Austin. Having chosen Silicon Hills over its former Dallas headquarters, the government software provider plans to hire 40 new team members from the region’s SaaS talent pool. Its solution helps over 600 local governments streamline their operations and deliver digital services to community members and businesses. GovOS is looking to fill engineering, product, sales and customer success roles. [Built In Austin]

LawnStarter has acquired Lawn Love. After adding San Diego-based Lawn Love to its ranks, LawnStarter is promoting its solution that provides customers with on-demand lawn and outdoor care. Together, the companies will increase their market presence and enable more outdoor home service companies to take on more jobs and increase their revenue. Terms of the transaction were not disclosed and the two companies will continue to operate as independent brands. [LawnStarter]

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