As Tampa Bay technology companies continued to navigate the challenges of running a successful business amid the Covid-19 pandemic in 2021, funding remained steady.
According to National Venture Capital Association reports, Q1 through Q3 brought in more than $197.5 million. While Q4 fundings are still being calculated, that volume is already higher than the organizations' $180 million calculation for all of 2020.
And according to reporting done by Tampa Bay Inno, Q4 fundings bring the total of 2021 to more than $316.8 million.
We've rounded up the 10 largest funding deals from Tampa Bay tech players below that helped boost Tampa Bay to new heights. We expect the upswing in capital to continue in 2022.
Tampa transplant OPSWAT raises $125M
Cybersecurity firm OPSWAT, which relocated from Silicon Valley to Tampa in December 2020, received a $125 million growth investment in March. CEO Benny Czarny plans to use the funding to further its acquisition strategy and is eyeing an initial public offering in the next 15 months.
Tampa public company founder raises $100M for new insurance tech startup
The founder of Heritage Insurance (NYSE: HRTG) raised $100 million in November to launch Slide, an insurance tech startup that is a full-stack provider that uses artificial intelligence, machine learning and data to let users choose their coverage for budgets and specific needs. The company has roughly a dozen employees and expects to launch Q1 in 2022.
Innovative water bottle company Cirkul raised $30M Series B
Cirkul, the Tampa-based innovative water bottle company, closed a $30M Series B round in August. It followed a $6.6 million raise in November 2020 and saw massive growth since its previous funding. Company videos continued to go viral on social media app TikTok and it hired 100 additional employees from March to June. Get the full story.
Bradenton virtual care company seals in $25M investment from Boston firm
Qure4u received a $25 million Series B investment in July after seeing its growth more than double in the last year due to the coronavirus pandemic. The funding came on the heels of Boca Raton-based New World Angels selling its stock and warrant back to the company, receiving a $3.7 million return after investing $445,000 in 2018. Get the full story.
Tampa telehealth startup snags $23M
Tampa startup Aspen RxHealth, which leverages both the telehealth and gig economy industries, received $23 million in January. Bessemer Venture Partners led the round. Bessemer Venture Partners has a long history of investing in well-known technology companies, including LinkedIn, Yelp, Shopify and DocuSign. Aspen RxHealth previously raised a $9 million Series A round.
Tampa software company received $22M from local investment firm
Tampa-based Weatherford Capital broke into the Florida tech investment world in January, with a $22.5 million Series A investment in Tampa-based SOMA Global. SOMA Global provides a cloud-based system for first responders.
Home repair tech company Homee receives $17 million in a Series B-2 round
On-demand home repair app Homee closed an oversubscribed $17 million Series B-2 financing in September, after raising $15 million and $4.5 million in the same funding round in 2019 and 2020, respectively. The money will be used entirely for hiring, CEO Doug Schaedler said, adding the company has otherwise an “all-time low cash burn.”
Insurance tech company raised $15.1M with backing from Tampa Bay Lightning's Jeff Vinik
TrustLayer, a Silicon Valley-based insurance tech startup with a major presence in Tampa, closed the round in August, following a $6.6 million seed round in February. Tampa Bay Lightning owner Jeff Vinik participated in both rounds and San Francisco venture capital firm Craft Ventures led the latest funding. Its portfolio includes the likes of Airbnb, Reddit and SpaceX. Get the full story.
Tampa-based Red Rover secured $13M, then $15M
Clearwater-based startup Red Rover, which was founded by PODS founder Peter Warhurst, holds the last two spots for top 10 biggest raises, bookending the year with $13.6 million in January and $15 million in December. Warhurst said the latest funding will be used for market expansion, but "with expansion come personnel (hires)."
Honorable mentions:
- ReliaQuest in Tampa undoubtedly would have topped this list, with its latest funding from New York-based KKR putting it into the $1 billion valuation. The raise, announced Dec. 1 however, was completed for an undisclosed amount.
- Tampa software company Embrace Software secured $100 million in credit one year after its founding. The company acquires and invests in on-premise software and software as a service companies.
