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Happy Tuesday!

We’ll be hosting the final GrepBeat Happy Hour of the year on Thursday, Dec. 2, sponsored by Wyrick Robbins. We’ll be hosted by Raleigh Founded’s Gateway location at 2409 Crabtree Blvd., Suite 107. Beer will be courtesy of our gracious sponsor. Register now!
 
ICYMI: The latest Friday Nooner featured guest co-host Lauren Ohnesorge (TBJ/Triangle Inno) and guest Fred Stutzman, the Founder and CEO of Freedom. You’ll have to tune in to learn how many miles Fred cycles on the weekend.
 


The Download

Steve Malik is a lot of things—a leader in the healthtech space, a sports team owner (twice over), a driving force behind Raleigh’s proposed Downtown South development—but at heart, he’s a dealmaker. He founded Medfusion in 1996, sold it to Intuit in 2013, bought it back in 2015, then sold it again to NextGen in 2019—but only after spinning out his newest startup, Greenlight Health Data Solutions.
 
Steve is also the subject of the latest edition of the Download by our own Brooks Malone. Read the full Q&A here.


 


NC IDEA

Friday was a big day for NC IDEA and, by extension, for the entrepreneurial ecosystem in the Triangle and across the state. NC IDEA named a record nine recipients of its $50K SEED grants. Six of the nine hail from the Triangle, four of which we have previously written feature stories about: Acta Solutions, Flux Hybrids, Sani and Without A Trace Foods. (We’re trying to chase down the other two: SnapPicFix and ResolveX.) TechWire also has capsules on all the winners, even those who—gasp!—hail from someplace other than the Triangle.
 
NC IDEA also awarded 15 Regional Impact Grants to collaborations between two or more organizations to support entrepreneurs. See more info here.


 


Cashing In

Pendo raised nine figures again last week—$110M, to be precise—but the cash isn’t going into the company’s coffers. Instead, it’s a secondary raise, meaning that it’s going to current equity holders rather than for new shares. In this case, the cash is coming from PE (private equity) giant Thoma Bravo and it’s going to an unspecified number of early investors and employees. It makes sense that, with Pendo valued at $2.6B in its last fundraise, those folks would want to turn some of their to-this-point-notional windfall into cold, hard cash. With capital gains taxes also potentially going up in 2022, now might be an especially good time to do so. Here's more from TechWire, TBJ and the N&O on the deal.
 
The funding market for Triangle startups continues to be hot overall. Recent Friday Nooner co-host Lauren Ohnesorge has a roundup of recent fundings for Triangle Inno. One of those startups, Raleigh-based K4Connect—which closed on a $3.1M debt round—is making other news, too. K4Connect recently published its Fall 2021 Quarterly Insights Report, which summarizes its findings from extensive surveys of the senior living facilities where it deploys its tech. Key takeaway: residents crave personal connections above all. Industry publication McKnights Senior Living has more on the report.


 


Stirring The Pot

Epic Games CEO Tim Sweeney is stirring it up again. While in Seoul at a conference held by the Coalition for App Fairness, Tim told Bloomberg News that “what the world really needs now is a single store that works with all platforms,” as opposed to walled-off gardens like Apple’s App Store, Android’s Google Play marketplace, etc. Well, I could think of a few things that the world “really needs” a little more than that, but he makes a fair point. Among his other comments, taken only slightly out of context: “Apple must be stopped” and Google is “crazy.” Give Tim this: he’s relentless. Also, very rich.


 


Heading South

It’s no secret that the Triangle is lousy with former New Yorkers, and not just at the bi-weekly McEntegart Family Happy Hours in North Raleigh. TBJ profiles four fairly recent NYC transplants who are now entrepreneurs in the Triangle. We’ve previously profiled two of them: Natalie Barbu of Rella (which connects social media “micro-influencers” with brands) and allergen-free-snack-maker Without a Trace Foods CEO Brooke Navarro, who also nabbed one of those $50K SEED grants from NC IDEA in Item 2.


 


Strategic Win

One major benefit to a startup from landing an investment from a strategic investor—typically, a far larger company in the same or an adjacent industry—is that it can lead to lead to major commercial opportunities. That has already proved to be the case for Morrisville-based cybersecurity startup JupiterOne, a GrepBeat 2021 Startups To Watch honoree. Cisco’s venture arm participated in JupiterOne’s $30M Series B funding in May, and now Cisco has partnered with JupiterOne to launch Cisco Secure Cloud Insights as part of its SecureX portfolio of products. Here’s a TechWire story with more details, plus a blog post from Cisco all about the deal.


 


Service Providers

Last Thursday was Veterans Day, which made it a great time to recognize Raleigh’s Veterans in Residence business incubator, a joint venture between the veterans-focused Bunker Labs and WeWork. The current eight-team cohort is overseen by Jim Raschella, Bunker Labs’ city ambassador for Raleigh. Jim is also the CEO of Off Duty Blue, a Raleigh-based startup we profiled in May that helps police departments schedule “off-duty” work. TechWire has more on the program and the eight companies participating.


 


Billing Help

Morrisville-based, PE-backed healthtech company Relias has launched a new suite of educational products to help acute care providers handle billing and better manage their revenue cycle. You can read more about the Relias Revenue Cycle and Coding curriculum here.


 


Build Great Software

Founded by serial entrepreneurs, Dualboot is a business and software development company. Their clients include tech and non-tech founders as well as Fortune 500 companies, so they can start small or scale fast depending on what you need. Every client is assigned a U.S.-based Product Director with at least 10 years experience bringing products to market, and they can manage the entire development process. They focus on how the software fits into your company to drive revenue and build the business. At Dualboot, they don’t just write your software—they help you grow your business. Intrigued? Email them here.


 

Extra Bit

Not that we’re trying to bury bad news, but here we are: Citrix is reportedly laying off about 50 employees in the Triangle. (Here's more from TBJ and the N&O.) You’ll likely recall that Citrix came to the Triangle after acquiring Jes Lipson’s first startup, ShareFile. Given the demand for tech talent in the Triangle and beyond, we hope those folks won’t be out of work long—unless of course they choose to take the holidays off with severance packages as a cushion.

 

Because too much news is never enough.

 

Here's some helpful content from our partners.

You can find all our Partner Feeds here.

 

Here are some available jobs at great Triangle startups.

To see all posted jobs, go to our (beta) CronJobs page. If you'd like your company to be listed, tell us at cronjobs@grepbeat.com and we'll do our best.

Guess where Pete is and (maybe) win a GrepBeat mug!
 

There are only six "Where's Pete?" editions left this year, and our sources tell us that there will be a new format in 2022 in which the GrepBeat mugs will be off the table. So make it count when you send your guesses here!

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