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AUSTIN BUSINESS JOURNAL
TECH FLASH BY MIKE CRONIN
I
MCRONIN@BIZJOURNALS.COM
512-348-8062
@ABJTECH
FINTECH
RR CAPITAL REPORT
$80M M-Files Corp., a Finland-based software maker with its North American headquarters in Austin, announced the funding Jan. 12. The company developed an information management platform that “improves business performance by helping people find and use information more effectively,” according to the announcement. The company said it made Austin its North American hub in December 2019 and that CEO Antti Nivala and other executive team members are based in the Texas capital. $7M Icon Technology Inc. reported Jan. 5 it had raised the capital from 17 investors, according to a filing with the U.S. Securities and Commission. Icon is known for its 3D printer for homes and its new, automated construction system, dubbed the Olympus Construction System, will be “versatile,” CEO Jason Ballard said, able to build structures, such as “roadways, launching and landing pads and pressurized habitats” on the moon. Icon CEO Ballard, Alex Le Roux and Evan Loomis co-founded the Austin startup in 2017. ICON TECHNOLOGY Rendering of types of structures Icon Technology Inc. could help NASA build on the moon.
ARNOLD WELLS / ABJ
Q2’s new office is rising next to its existing buildings in Northwest Austin, not far from Lakeline Mall.
Q2 READY FOR NEXT GROWTH SPURT generated about $293.8 million in reve- nue, up from $228.6 million during the same period last year, a 28.5% increase, according to a Nov. 5 SEC filing.
P andemic-taught lessons contin- ue to inform the approach Q2 Holdings Inc. executives are tak- ing as they build out the company’s new 130,000-square-foot office building next door to the company’s current North Aus- tin headquarters. “The entire building, in every place, we’ll be able to either cut in half or double in size,” said Kim Rutledge, Q2 executive vice president for people. Her responsi- bilities include overseeing the company’s human resources, facilities and real estate. “We’re making sure this will be a destina- tion that our employees want to come to.” That is, once company employees phys- ically return to working in the office. President and CEO Matt Flake said the company decided in early March to move its roughly 1,800 employees to remote work. Q2 (NYSE: QTWO) completed that task within a week, Flake said. Q2 employed 1,574 as of Dec. 31, 2019, accord- ing to its February annual report. Founded in 2004, Q2 went public in 2014. Q2 develops software for financial institutions that facilitates digital bank- ing and lending. Upon the new building’s opening at 10355 Pecan Park Blvd. in June, Q2 will boast about 325,000 square feet in the Aspen Lake business park, which is near With fresh faces in C-suite, NYSE-listed company eyes billion-dollar goal
The company’s stock was the 10th-best-performing this past year among Austin public companies, with shares closing Dec. 24 at $128.13, up 56.6% from the start of the year. John Breeden on Dec. 9 became the company’s first-ever chief operating offi- cer, a promotion fromhis former position as executive vice president of operations. Breeden has been with Q2 since 2011. The company also promoted Lou Sen- ko, formerly chief information officer, into a new position called chief availabil- ity. That position is responsible for ensur- ing that Q2’s vast system — Flake said it boasts 17 million users — remains “avail- able to everyone, no matter who’s using” it, the CEO said, citing examples such as those seeking stimulus-check deposits or automated clearing houses. Q2’s board on Dec. 4 hired Carlos Car- vajal as the company’s chief marketing officer, according to a Dec. 10 SEC fil- ing. Carvajal takes over that role from Will Furrer, who had been the compa- ny’s CMO and chief strategy officer for the past year. He remains chief strategy officer, a position he’s held since 2016. David Mehok is Q2’s new chief finan- cial officer. Mehok most recently served in the same role for about three years at Austin-headquartered Epicor Software Corp., which makes enterprise resource planning software. For more: https://bizj.us/1q8515
Kim Rutledge
Matt Flake
the confluence of U.S. Highway 183 and the State Highway 45 toll road. Company executives plan that the exec- utive briefing center and internet opera- tions center will be on the first floor, as well as marketing and corporate ser- vices. The second floor will be home to the finance, human resources and legal departments. The newbuilding “will hold about 650” employees, the same amount as the other 129,000-square-foot building Q2 leases in Aspen Lake, Rutledge said. The company recently made a spate of executive-team moves. “We’re structuring the business to become a billion-dollar software compa- ny,” Flake said. “We had an amazing year. We delivered on things in a special year.” The personnel actions come at the end of a year in which it projects generating roughly $400 million in revenue in 2020, according to a Nov. 4 filing with the U.S. Securities and Exchange Commission. For the nine months that ended Sept. 30, Q2
$2.05M
Perseus Holdings USA LLC reported Jan. 7 it had raised the capital from 20 investors, according to a regulatory filing. The capital came in the form of “debt which is convertible into equity based on the occurrence of certain events” and pooled investment fund interests, according to the filing. The vaccine platform technology marketing company in June 2017 reported raising $1.1 million. It is led by President and CEO Buddy Long.
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