Salion Snags $7-Mil First-Round Funding; Larger Office Search Sure to Start

AUSTIN-A new round of investment capital will likely mean a new office for Austin’s Salion, which develops software products for business suppliers.

Salion has secured $7 million in first-round funding from Austin Ventures. AV Labs, which focuses on early-stage, B2B companies, is among the investors. The company, which currently employs 28 people, intends to use the funding to build sales and development teams as the company prepares to launch a initial public offering in the coming months.

Salion currently leases a floor of the 12-story Perry Brooks Building at 720 Brazos, across from the downtown Omni Hotel. A company source tells GlobeSt.com Salion is likely to outgrow its current space given expansion plans and will soon start looking for new office space. Officials are hoping to be in a new spot within the year.