Companies in Tampa Bay raised more than $50 million in the third quarter, continuing a strong year of funding despite the novel coronavirus pandemic.
Pitchbook and the National Venture Capital Association released the quarterly report, detailing the top investment deals from across the nation. Tampa Bay had 10 companies raise $50.14 million, compared to Q2's six companies that raised roughly $17 million. Q1 still reigns supreme, with 12 Tampa Bay companies raise a staggering $87.2 million. Q3 was also the standout quarter in 2019: 19 local companies raised $99 million.
According to Pitchbook, the Tampa-St. Petersburg-Clearwater MSA has had zero exit deals this year.
The top 10 fundraising deals from the MSA include:
- Telepathy Labs, a Tampa-based IT company, raised $14 million
- Immertec, a Tampa medtech virtual reality company, raised $12 million; $6 million of that was raised in August, closing out its $12 million Series A.
- IMCS Group, a St. Petersburg group of professionals that provide "bio-psychophysical and bio-psychosocial assessments," raised $8 million
- Kliken, a Tampa-based marketing technology company, raised $5 million
- Homee, a Tampa-based on demand home repair app, raised $5 million
- SKUxchange, a St. Petersburg startup that uses blockchain and its own technology to streamline promotional offers, raised $4 million
- Plaque Buster, an Indian Rocks-based company that makes interdental soft picks and gum stimulators, raised $1 million
- Covercasa, a Tampa-based insurance technology, raised $1 million
- BlockSpaces, a Tampa-based organization which mentors blockchain focused startups and the community at large, raised $75,000
- My Medical Hub Corp., a Tampa-based medical company providing care and case management solutions, raised $25,000
The report comes a week after BIP released its "Startups in the Southeast" report, echoing similar statements that Florida startups are doing well raising funds. According to the report, $9.7 billion has been invested since 2015 across 2,460 deals in Florida.
"2020 is unique due to the Covid-19 pandemic and resulting global economic and financial crisis, which have spared no one, including the Southeastern investment and startup communities," the BIP Capital report stated. "However, as noted in last year’s report, we believe that the Southeast’s persistent maturation positions it well to emerge from the crisis with momentum."
