As summer came to an end and turned to full-fledged fall, the funding dipped dramatically for startups.
August brought in $33 million and September managed to top that with $41.9. October's funding deals brought in $18.2, according to reviews of SEC reports. We've got the breakdown below.
Creating Some Buzz
• A Miami-based coffee company with a Tampa-based majority stakeholder received $11 million in its latest funding round.
The Whole Coffee Company, which is majority-owned by ProspEquity Partners, received the investment in its Series A funding round. The company is expected to launch its “nudge.” edible coffee products to shelves in January, including at Dunkin’ and Tim Hortons.
Paging More Funding
• October 10, Immertec company snagged $6 million from 24 investors, according to an SEC filing. Immertec is a medical technology company that helps physicians train and learn remotely, using virtual reality. Founder Erik Maltais said the latest funding will go to continue to grow the team and further product development.
The Series A funding round was led by New York City-based Benvolio Group, with PAR Inc. and Rise of the Rest also ponying up funds. According to Maltais, 50% of participants are strategic investors and none are venture capital funds.
Case Closed
• CaseGlide LLC has received an undisclosed amount of funding from Boston-based Arcadian Software. St. Petersburg-based CaseGlide LLC launched in 2015 and provides legal spending management software for insurers, risk management departments and third-party claims administrators. It will use the funds to beef up product innovation in e-billing/legal bill review, attorney scorecarding and matter management.
Arcadian Software has long invested in SaaS businesses and believes CaseGlide is carving out a niche in the industry.
“With its finger on the pulse of the critical claims sector, CaseGlide has developed the first purpose-built, cloud-based product that fundamentally improves outcomes for property and casualty insurers,” Acadian’s Executive Chairman, Jon Karlen, said in a statement.
Prescription for Growth, Coming Up
• RxLive, the St. Petersburg startup that connects patients with pharmacists digitally, has received $850,000 in funding. According to the SEC website, the company received the funds from six investors on Tuesday.
Working on My Fitness
• Fit Minds LLC, a Tampa-based company that provides cognitive simulation for alzheimer's patients, received $325,000 on Oct. 30. The investment comes from two unknown entities.
