Innovate
Here are the Tampa-St. Pete startups that raised venture capital since July
Venture funding for Tampa-St. Pete companies got off to a strong start in the fourth quarter of 2019, when CoLabs, a software firm in Tampa, raised $6.2M in investor funding.
The new funding is for IntelAgree, a contract lifecycle management software tool that uses artificial intelligence and machine learning to optimize and simplify business processes. The tool hit the market in March and has attracted clients that include the Tampa Bay Buccaneers, Tampa Bay Lightning and Tampa Bay Rays, a news release said.
CoLabs earlier raised $4 million in seed capital. The company is one of 10 local firms highlighted in the newly released Pitchbook-NVCA Venture Monitor, a quarterly report on venture capital investments nationwide.
As a group, 12 companies in the Tampa-St. Petersburg-Clearwater metro area raised $51.55 million in the three months ended Sept. 30, the report said. Year to date in 2019, there have been 35 local venture investments raising a total of $123.6 million.
The top deals in the Tampa-St. Pete metro in Q3 2019 by deal size were:
$15 million for Digital Hands, a cybersecurity services company in Tampa. Fulcrum Equity Partners was the investor. The company will use the funding for growth equity, CEO Charlotte Baker told the St. Pete Catalyst.
$15 million for Homee, a Tampa company that uses technology to match skilled service providers with home owners and property managers. The funding round, led by Forte Ventures and Liberty Mutual Strategic Ventures, gives Homee capital to launch in new markets and to expand its service provider network nationwide, the Catalyst reported.
$9 million, Dabbl, a Tampa digital marketing firm formerly named Adjoy and mNFO.
$5 million, Lumina Analytics, a predictive analytics company in Tampa that said it would use the new funding for sales and marketing efforts, program management and an office expansion.
$2 million, CoLabs in Tampa.
$2 million, Sole Venture, a St. Petersburg technology startup focused on helping self-employed white collar professionals. The company recently launched a health insurance offering.
$2 million, NeuX Technologies. The Tampa company is developing technologies and solutions with the goal of enabling people of all ages to live a more active lifestyle, free of pain, injury, restricted range of motion and drug dependency.
$1 million, RxLive, a St. Petersburg company with a nationwide telehealth platform of clinical pharmacists delivering concierge medication counseling to provider’s patients, employer groups and consumers.
$1 million, Harvest CROO Robotics. The Plant City company is using robotics to solve the labor crisis facing agriculture in Florida, and will be featured at the Oct. 29 Florida-Israel Business Accelerator Connection to Innovation event at the Bryan Glaser Family JCC in Tampa.
Morphogenesis also was listed as a top deal. While Venture Monitor did not list a funding amount, the Catalyst previously reported the Tampa biotech raised $495,000 as part of a larger $15 million offering in July.
A total of 55 Florida companies raised $308 million in funding in Q3. Nationally, there were 7,862 deals with a total value of $96.7 billion, Venture Monitor reported.
“Investment activity isn’t quite on pace to reach the record deal value posted in 2018, but the environment remains robust. Deal value will almost assuredly top $100 billion for the second straight year, and deal count is likely to exceed 10,000 for the third straight year. The overall climate of the VC ecosystem appears to have cooled slightly, but there remains ample capital in private markets for VCs to invest,” Venture Monitor said.
Venture Monitor includes equity investments into startup companies from an outside source and can include investments from individual angel investors, angel groups, seed funds, VC firms, corporate venture firms and corporate investors.