HOUSTON INNOVATORS PODCAST EPISODE 32

Startup founder sees 'the waves are hitting the shore' for Houston innovation ecosystem

Joe Alapat is the CEO of Houston-based Liongard, which just raised a $17 million series B round. Courtesy of Liongard

Last week, Houston-based software-as-a-service startup, Liongard, announced the closing of its $17 million series B fundraising round, ending what was a bit of a dry spell for Houston venture capital investment caused by COVID-19's effect on the economy.

But for Liongard's CEO Joe Alapat, who co-founded the company with COO Vincent Tran in 2015, the round was the result of ongoing relationships with advisers and investors that meant a successful round — even in light of a pandemic.

"The process for us with the series B was much like our seed or series A round. We chose to communicate early and keep in touch with the investment community," Alapat says on this week's episode of the Houston Innovators Podcast, and he shares his experience as an example to other startups looking to raise venture capital investment.

"Communicate early and share progress, so that when you get to the point when you are looking for an investment, it's not a fresh start. It's a continuation of that conversation."

With the money, Liongard will gear up for growth, expanding its teams and getting the word out on the value the company is providing.

"The purpose for raising this money is really to advance our growth, accelerate what we've done with our platform to continue to execute on our mission, and really serve our customers on a higher degree," Alapat says.

In the episode, Alapat also shares his advice for Houston startups looking to tap into the Houston innovation ecosystem — something he's watched grow over the past five years. Now, he says, when it comes to new startups in Houston, "the waves are hitting the shore."

"Houston has always been an entrepreneurial city, and this is just that next stage," Alapat says on the episode. "For me, it's the technology side that excites me even more to see technology companies really succeeding."

Listen to the full interview with Alapat below — or wherever you get your podcasts — and subscribe for weekly episodes.


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Building Houston

 
 

Houston-based Liongard has fresh funding to work with. Photo via Getty Images

A Houston software company has announced its latest funding.

Liongard, an IT software provider, has raised an additional $10 million led by Updata Partners with contribution from TDF Ventures — both existing investors in the company. The funding, according to a news release, will go toward providing the best customer service for Liongard's growing customer base.

The technology is providing managed service providers, or MSPs, improved visibility across the IT stack and an optimized user experience.

“Since working with our first MSP partners, we’ve seen time and again the power of visibility into IT data, reducing the time they spend researching customer issues and allowing them to respond faster than their peers,” says Joe Alapat, CEO and co-founder of Liongard, in the release. “This investment enables us to continue to achieve our vision of delivering visibility into each element of the IT stack.”

The company has about 2,000 partners in support of more than 60,000 end customers. And has been recognized as a top employer by Forbes and Inc. magazine earlier this year.

“We are excited to deepen our commitment with Liongard,“ says Carter Griffin, general partner at Updata, in the release. “With its leading data platform for MSPs we expect continued fast-paced growth.”

Liongard's last funding round was in May of 2020 and was a $17 million series B round. Both Updata Partners and TDF ventures were involved in that round. The company's total funding now sits at over $30 million.

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