Tampa Bay tech companies continue to draw in hundreds of thousands more in funding each year, building upon the past successes of the ecosystem and on the hope for future wins.
According to Pitchbook and the National Venture Capital Association's quarterly report, Tampa Bay companies raised roughly $354 million in 2021 across 59 deals. That was up from 2020's $258 million across 60 deals, and 2022 managed to follow suit of 2021 and jump another $100 million from the prior year's total.
While the final numbers are still being tallied for 2022, the top 10 deals in the region alone outpaced 2021's total, garnering $452 million. We've gathered the details of the deals that contributed to the eye-popping total below.
AeroVanti Air Club, $109.75 million
The Sarasota-based luxury jet club first closed a $9.75 million Series A round in July, which CEO Patrick Britton-Harr said is a stepping stone toward going public next summer. The company then closed a $100 million funding round just months later in October, led by Louisiana-based Lafayette Aircraft Leasing. He plans to use the funding to buy larger and more aircraft to keep up with customer demand. Get the story.
Coherent, $75 million
The global company that tapped Tampa as its U.S. headquarters in 2021 closed its Series B in April, led by Maverick Capital. At the time of the funding announcement, the company's U.S. CEO Todd Buchanan said he hoped to hire roughly 50 additional employees in Tampa and another 50 across the nation. Get the full story.
Cirkul, $70 million
The Tampa-based innovative water bottle company closed its Series C investment led by New York-based SC Holdings in June. The investment reportedly boosted its valuation to $1 billion, making it a coveted "unicorn" in tech terms, according to officials. Get the story.
Broadlume, $60 million
The Sarasota SaaS company focusing on the flooring industry closed a $60 million Series C in July 2021 but did not go public with the deal until September. The round was entirely led by PSG, a Boston-based growth equity firm. The funds, according to Broadlume CEO Todd Saunders, will be used to acquire companies across the nation. Get the story.
Funnel Leasing, $36.5 million
The Lutz-based company, focusing on streamlining the rental and leasing industries, closed the Series B funding round in February. The company offers leasing and communication tools to apartment management companies and property owners. Its CEO Tyler Christiansen had been living in the region but opened a local headquarters for the company in August. Get the funding details here.
Red Rover, $35 million
The company, founded by a former PODS co-founder who says it improves upon that model, raised $35 million in February. The funding was led by Oppenheimer's & Co.’s asset management business in Tampa. It followed $15 million in December 2021, also led by Oppenheimer's & Co. Red Rover CEO Peter Warhurst planning to use the funds to expand and open warehouses across the nation. Get the story.
Rewst, $25.5 million
Aharon Chernin, founder and CEO of Rewst, first announced a $4 million raise in August. The company then raised an additional $21.5 million for its Series A in November, led by OpenView, a Boston-based venture capital firm. The funds will expand the company's robotic operations center and advance product development. Get the story.
Nucleus Security, $20 million
The Sarasota-based cybersecurity company closed the Series B in March, led by New York-based Lead Edge Capital. The funding will be used mainly on research and development and people and culture areas. It follows a $3.4 million Series A closed in February 2021. Get the story.
Genesis Systems, $10 million
The new Tampa transplant, which states it has technology to get clean drinking water out of the air's condensation, closed the $10 million seed round in January. The company planned to use the funding for international expansion, finalizing its product and services development and hiring commercialization staff. Get the story.
Pocket Network, $10 million
The Tampa-based Web 3 developer closed the funding round in January, which was its third institutional funding round totaling more than $22 million. After the $10 million raise, Pocket was initially valued at more than $1.5 billion, which dipped with the value of POKT, an in-house token created by the company. Get the story.
