One of the state’s most active venture capital firms is at it again.
Tampa-based Florida Funders, a hybrid mix between an angel investor network and venture capital fund, led Birmingham-based QuantHub’s $1.3 million seed round. The other participating investors were undisclosed.
QuantHub aims for its platform to provide data fluency in corporate and educational settings. Its micro-learning approach uses AI to track each step of the learning process, delivering an experience tailored for each learner. QuantHub offers three products geared toward individuals, corporations and educational institutions.
The new funds will support QuantHub’s work to invest in product development and onboard additional staff, according to company CEO Joshua Jones. The company previously raised a $1.25 million funding round in 2018.
“As businesses handle a higher volume of data than ever before, it’s important their employees know how to interpret and analyze that information and make better decisions with it,” said Jones, who founded QuantHub in 2018. “Companies have to invest in their employee education. That leads to better business outcomes.”
This is Florida Funders’ first investment in Birmingham.
“Birmingham is quickly becoming a powerhouse city in the Southeastern technology scene,” said Saxon Baum, partner at Florida Funders, in a statement. “We are seeing some amazing companies, as well as investors and family offices, becoming extremely active in the area.”
Florida Funders is currently deploying capital from its Fund 2, which has over $60 million. Their first fund topped off at $18 million. The organization was dubbed the most active VC firm in the Southeastern region, according to Pitchbook, in 2021. CB Insights added Florida Funders was the most active firm in the Sunshine State in 2021.
“The trend for the Southeast as the fastest-growing tech hub in America is really only getting started,” Baum said. “With cities like Atlanta, Austin, Tampa, Miami and the research triangle leading the pack, a city like Birmingham has so much room to grow.”
