Is Austin, Texas the new Silicon Valley? Well, not exactly -- Austin, famous for its strong communities and quirky uniqueness, has the opportunity to improve on some things it's Bay Area counterpart got wrong. Companies like Breyer Capital are looking to make conscious efforts to hire more women and minorities in tune with Austin’s accepting spirit.
Read also: BEST ACCELERATORS IN SILICON VALLEY, RANKED
And as notable tech entrepreneurs like Elon Musk flee California in search of far away lands (with lower tax burdens), Austin and Texas in general are on the shortlist for the next big tech hub.
Looking to invest in startups? Want to know more about the companies setting up shop in this Texas city? Read Benzinga’s list of the Top 10 Tech Startups in Austin to find out more.
9 Best Tech Startups in Austin
Benzinga considered the following factors when selecting our choices:
- Brand traction
- Revenue potential
- Company leadership team
- The competitive landscape
- The company’s independence and how long its been in operation
- Round of funding
1. Best PropTech Startup: Homeward, founded 2018
Homeward is a modern home finance startup whose agenda is to redesign your home-buying experience. They work with several agents to help homebuyers mitigate the limitations incurred with traditional mortgages.
Referring to themselves as a new kind of home finance company, Homeward is an agent-led company because they believe that agents are essential and work with some of the very best.
According to Tim Heyl, Homeward founder, buying a home should be a fun and exciting process, rather than the anxiety-inducing one many of us know it to be. Working with a real estate agent makes home buying a much easier process.
Homeward helps property buyers make all-cash offers in a competitive market. They also help homeowners buy before selling.
2. Best Cloud Computing and Information Security Startup: ClearDATA, founded 2011
ClearDATA is a tech startup specializing in modern solutions to patient care. This cloud platform provides multi-cloud privacy, compliance and security solutions. ClearDATA provides clients with industry-leading standards such as GDPR, GxP and HIPAA, plus automated technology.
Being the cloud computing market leader in healthcare, ClearDATA services allow customers to automate, protect and manage the following:
- Healthcare applications
- IT infrastructure
- Data in the cloud
HITRUST, ClearDATA’s innovation protects their customers from data security leaks while scaling and improving IT infrastructure.
3. Best Litigation Services Support Startup: DISCO, founded 2013
DISCO, described as “technology that powers legal," is a software providing service to lawyers, by lawyers.
DISCO started as a litigation boutique in Houston, and it’s most current form is the result of the frustration brought about by slow and difficult eDiscovery tools used during the discovery process of litigation. There was a glaring gap in support software for lawyers, hence the creation of technology that automates and mimics the work lawyers already do. From this need, DISCO was born.
DISCO simplifies complex error-prone tasks making it easier for lawyers to practice law with minimal distraction. The software is in use by over 400 law firms.
4. Best Online Insurance Comparison Startup: The Zebra, founded 2012
The Zebra has led the change when it comes to making insurance transactions transparent. That’s likely why they are the most visited online insurance comparison site. The Zebra make use of insurtech to provide educational resources to educate customers and actual-time rates.
The aim is to help customers find the pricing, service level and coverage that fits their individual needs. This they do while connecting insurance companies' customers.
The Zebra has one goal, and that is to simplify insurance. Their success in this endeavor is what has made them a leading comparison site.
5. Best AI Solutions Startup: SparkCognition, founded 2013
SparkCognition is an AI platform that allows the best creative problem solvers to enact impactful change in their own organizations and beyond. SparkCognition achieves this by building leading AI solutions to act upon societal interests within a group structure.
As for SparkCognition customers, they are able to analyze complex data and make better decisions while transforming industrial and human productivity.
SparkCognition has built AI solutions that give more insight into customer's data. Theirs is a never-ending wheel of innovation to generate exponential technologies. Customers can optimize operations, predict future events, accelerate growth and protect assets.
6. Best Website Technology Startup: WP Engine, founded 2010
Workrise, once known as RigUp, is a company that makes use of technology to connect the workforce with employers.
Workrise targets the energy industry, working toward being the most robust employee network in the energy sector.
At the same time, their mission is to make the energy industry an effective and efficient one, where service providers and those who need their services connect with ease. Technology is critical to this goal and will streamline everything to deliver quality for both clients and workers.
7. Best Smart Finance and Accounting Startup: ScaleFactor, founded 2014
Running a business well is one thing -- running the books is another. ScaleFactor brings you the tools and resources you need to pull off this balancing act with ease. ScaleFactor automates time-consuming tasks with its software. The software works like the most efficient, accurate accounting expert you can find.
Keep your books tidy, organized and easy to understand using ScaleFactor. ScaleFactor classifies and updates your transactions daily, reducing your daily financial admin work. Daily tasks like classifying transactions and general ledger updates take care of themselves.
The mission of ScaleFactor is to get rid of the barriers to financial clarity faced by business owners while freeing up valuable human capital for more pressing tasks.
8. Best Proprietary Technology Vacation Rentals Startup: TurnKey Vacation Rentals, Founded 2012
TurnKey Vacation Rentals markets and manages premier vacation rental homes. The TurnKey team creates unique experiences for those looking to vacation in top destinations in the U.S.
Their proprietary technology makes it easy to offer unmatched quality and reliability to both you and your guests. TurnKey is great for wowing your guests while keeping management of your property affordable.
9. Best Cloud Ecommerce Startup: BigCommerce, founded 2009
BigCommerce is a great cloud e-commerce platform for both established and growing businesses. Their software combines several elements. These include an open architecture and app ecosystem, market-leading performance and enterprise functionality.
With BigCommerce, businesses can grow their online sales while reducing time, cost and complexity. BigCommerce powers well-known brands such as Martha Stewart, Paul Mitchell, Toyota, Assurant and many others, working with more than 25 Fortune 1000 companies. They also work with thousands of retailers worldwide.
The Long Tech Home
It’s safe to say that no matter how many billionaires leave California for less tax-heavy states, Silicon Valley will always play a role in startup culture, attracting new tech operations in droves.
But the growing number of companies launching and gaining funding in Austin definitely makes it worth your awareness if you’re interested in tech startups. The Austin entrepreneurial influx is enormous and here to stay and it’s likely that Austin is set for exponential growth for years to come.