A San Antonio startup got a big boost from Austin investors Tuesday night.
Capital Factory, an Austin-based technology accelerator and coworking space, chose Easy Expunctions for its $100,000 convertible note prize. Easy Expunctions, the tech company that assists people with cleaning their criminal record by automating and streamlining the legal process, has been in San Antonio for two years and operates currently in six states.
“We’ve seen our account creations grow 500 percent (over the last six months),” said YousefKasim, CEO of Easy Expunctions. “I think that’s what got everyone excited today. That and the revenue growth that we’re seeing.”
It’s the eighth such investment Capital Factory has made in the past 18 months all across Texas, according to organizers. In that time, the company has been packing investors and mentors into buses and driving them to Dallas, Houston, and San Antonio with these competitions, as part of its Texas Manifesto.
“It’s awesome,” said Joshua Baer, CEO of Capital Factory, about driving across Texas to make these investments. “It’s great to get any amount of money, but $100,000 that’s like getting a real investor and can really make a difference for some of these companies.”
Baer said in Capital Factory’s manifesto that Texas is underfunded in startup capital for its size and growth, and Capital Factory want to help be the catalyst.
“Somehow, everyone else is missing out,” Baer said. “We have a lot going on here in Texas that not everyone notices.”
Baer said the state has four of the top 11 cities for creating startups.
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Easy Expunctions bested five other San Antonio startup finalists: City Flag, dearduck, eLumicor, Medspoke and Neuscience.
Baer sees these competitions as a way to introduce investors from across the state to companies outside their city.
“There’s only one company that wins this $100,000 challenge, but in the process of doing this we met dozens of really interesting San Antonio companies” he said.
Paul Flahive can be reached atpaul@tpr.org or on Twitter @paulflahive
