Starmount Systems gets big financing boost

Dec 10, 2013
Austin Business Journal

Software maker Starmount Systems Inc. has completed a $13 million Series A round of funding

Executives at the Austin-based company said the financing was led by the Kayne Partners Fund, an affiliate of private equity group of Los Angeles-based Kayne Anderson Capital Advisors LP

Starmount Systems, founded in 2006, develops software for mid-to-large-sized retailers to generate mobile sales. The company employs 100 workers, CEO Joe Halloum said

The capital will be used to develop more products and speed the company’s time to market with those products, Halloum said. Starmount Systems claims as customers retailers such as Pep Boys (NYSE: PBY), Urban Outfitters Inc. (Nasdaq: URBN) and The Home Depot Inc. (NYSE: HD)

The Austin Business Journal named Starmount Systems one of the 50 fastest-growing private companies in Central Texas in its 2013 Fast 50 rankings. It was the second consecutive year that Starmount received the award that ranks companies based on compounded annual average sales growth

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