Wednesday, July 31, 2019
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First Up

Madison: What'll you have, what'll you have? The Varsity, Atlanta's famous burger and dogs joint, has partnered with local fintech giant NCR Cop. for its for its point-of-sale enterprise solution. So if you're stopping by for lunch today, know that NCR is helping The Varsity cash you out. 

Let's drop a Beat ...

The Big One

A breakdown on the day’s biggest Inno story.

GROUNDFLOOR Raises $3M in Funding

GROUNDFLOOR, an investment and lending platform for real estate loans, has raised $3M in crowdfunding from 1.5K new and existing investors. In addition, the startup reports it had its strongest quarter ever in 2019 Q2. 

With the new funding, GROUNDFLOOR has raised a total of $18.3M and has 20% public ownership. Co-founder and CEO Brian Dally said the funding will help accelerate the company’s growth by expanding its teams in sales, software engineering and investor relations. 

“Demand for our product is growing dramatically on both the borrower and investor sides,” he said. “Our team has managed this growth very efficiently. In fact, revenue per employee has doubled over the last year.”

As the company continues to grow and gain momentum later this year, Dally said GROUNDFLOOR will invest time and resources in expanding and developing its workforce.

“We currently have positions open in all departments, with a priority on hiring additional customer-facing personnel,” he said. “We are actively recruiting to put four to five Atlanta-based investment loan advisors/originators and several investor support personnel in place by the end of Q3.”

According to GROUNDFLOOR representatives, the average investor chips in about $10 at a time on the platform to fractionally invest in real estate. The company has achieved 20% ownership by 3.1K individual investors total. 

“Our investor base looks like America,” Dally said. “They come from all walks of life. The concept of getting involved in real estate is attractive to a lot of people. Having access to lucrative private capital markets in general is new, while investing in startups before they go public is gaining in popularity and acceptance. More than any demographic descriptor, GROUNDFLOOR shareholders are really pioneers on a totally new frontier of personal finance.”

[To read more about GROUNDFLOOR and it's plans for 2019, click here]

Making Moves

Inside the people, companies and organizations making moves today.

Accenture Announces New Group Chief Executive

Accenture announced it has appointed Atlanta local James “Jimmy” Etheredge as group chief executive — North America. Etheredge succeeds Julie Sweet, who will become Accenture's CEO. Martin (“Marty”) Rodgers take over Etheredge's previous position as senior managing director — US Southeast. These three employees will start their new positions on Sept. 1.

In his new role, Etheredge will lead the company’s business in North America, its largest geographic market, and will join Accenture’s Global Management Committee. He will remain in Atlanta for his new position.

Group Salus Offers Online Risk Assessment

We've reported on a few hacks in recent weeks, and one Atlanta-based cybersecurity startup is making steps to get companies secure. Group Salus is announcing an online Cybersecurity Reputation Risk Assessment to help small and medium-sized businesses identify vulnerabilities in their abilities to communicate to key stakeholders and protect their reputations after a cyberattack. 

The assessment, which is available on the Group Salus website, is a step-by-step questionnaire that will be analyzed by Group Salus experts to determine a company’s cyber reputation risk.

Atlanta's Wireless Technology Forum Rebrands

Atlanta’s Wireless Technology Forum has announced it is rebranding as Atlanta Innovation Forum. The organization was founded in 2004 to serve as a platform for the business of emerging wireless and mobile technologies. The change reflects the organization’s focus on broader innovations across many different industries, according to a press release. 

“Wireless and mobility were powerful technological ideas 15 years ago when the Forum launched,” Steve Bachman, founder and member of the board of directors, said in a statement. “While wireless technologies are still a driver in our world and we’ll continue to highlight how they enable different industries, the Forum aims to focus on all industries where a number of technologies are disrupting and enhancing how we work and play.”

In The Know

The ATL tech stories you need to read today.

Elsewhere in Inno

Stories from around the Inno network we think you'll dig.

New Money

A roundup of today's deals.

Software Co. Raises Part of $710K Round

86Borders, a software company in Cobb County, has raised $148K of a $710K round, according to a filing with the SEC. The startup, which has a health care and logistics platform, focuses on delivering solutions-based services across the health care and logistics industries. 

The Quad

A quick spotlight on campus innovation.

This UGA Researcher is Developing a RSV Vaccine

The science community has been trying to create a safe and effective RSV vaccine for over 60 years. RSV, human orthopneumovirus, is a syncytial virus that causes respiratory tract infections. It is a major cause of lower respiratory tract infections and hospital visits during infancy and childhood. 

With billions spent, not much has panned out. But a University of Georgia researcher is close to developing one. Meet Georgia Research Alliance Eminent Scholar and GRA Chair of Animal Health Vaccine Development Ralph Tripp and read how he's on the verge of creating a vaccine to fight one of the world’s most common childhood illnesses. 

In The Community

The events and happenings to know about.

Coming Up

Search for other fun opportunities in our Events Directory. You can even add an event of your own right here

Random, Rants & Raps

The fun stuff.

Ride Till I Can't No More

We did it, fam. We have made history. Atlanta rapper Lil Nas X has the longest running No. 1 song on the Billboard 100 with "Old Town Road." This is such a big win for our music community.

Lil Nas X will probably be making more remixes (which are rumored to be in the works with Dolly Parton and Mariah Carey) to the song till I'm singing it with my grandchildren. Excuse me as I ride off on my horse crying, I'm so proud of this city, y'all. 

Beat Gotta Eat

Did you know Inno covers startups and tech in 13 markets? Subscribe to the Beat and tap into local innovation in other ecosystems: AustinBoston, Charlotte, Cincy, Chicago, Colorado, DC, Minne, Richmond, Rhode Island, Tampa Bay and Wisconsin.

Featured Jobs

Featured startup and tech jobs on Atlanta Inno's new Careers Directory.

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Meet The Authors

Madison Hogan

Atlanta Inno Staff Writer |

Will Flanagan
American Inno | 

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