Aceable’s Raises $47M
Thanks to Xconoy – Online training service Aceable landed the perhaps the biggest Austin startup headline of the week: The company announced a $47 million Series B funding round, one of the largest financings this year.
Aceable was founded as a driver’s education platform for teens and other soon-to-be drivers, and has expanded the service to numerous states since it launched five years ago. In 2016, when Aceable added a $4 million round of funding, the company began adding more training services to its curriculum, including testing for professional certifications in real estate, human resources, nursing, and food safety.
The $47 million funding round is one of the largest for an Austin startup in 2018. BigCommerce raised a $64 million round of funding in April, ahead of a potential IPO next year. Biotech business Shattuck Labs added $46.6 million of financing in May, eyeing a clinical trial. Those deals are dwarfed by the $250 million private equity firmSilver Lake invested in WP Engine in January.
Aceable’s new funding round was led by Sageview Capital, which has offices in Palo Alto, CA, and Greenwich, CT. Its existing backers include Silverton Partners, Floodgate Fund, Next Coast Venture Partners, Wildcat VC, Nextgen Partners, and the Capital Factory Fund.