A Tampa alcohol software startup has exited after an acquisition by a New York City-based company.
Bridge, which rebranded from Proof Network Ventures in October, has been acquired from SevenFifty Technologies for an undisclosed amount.
Since its founding in October 2018, the company has undergone a rebrand, acquired a similar business named Tipsi and secured funding from Florida Funders. It was also included in Tampa Bay Inno's Startups to Watch in 2020 list.
“Florida Funders celebrates Bridge’s acquisition by SevenFifty as it marks a notably successful exit for our firm,” Tom Wallace, managing partner for Florida Funders, said in a statement. “Bridge brought an invaluable service to companies and made them a key player in the beverage alcohol space.”
Florida Funders invested $917,000 in Bridge in November 2019. Since SevenFifty Technologies operates remotely, the Bridge team will remain in Tampa Bay.
“We are fortunate to have received the level of ongoing support and guidance that we did from Florida Funders,” Alex Miningham, co-founder and CEO of Bridge, said in a statement. “This acquisition is testament to the hard work and successes that our team at Bridge has achieved, but it is also the result of the supporters and partners we made along the way believing in our brand, vision and goals.”
Bridge's exit is the latest in several successes for Florida Funders in 2020 alone. It participated in a $10 million round for wellness technology company Peerfit, a $3.5 million round for Tampa-based medtech startup Professional Credentials Exchange, and undisclosed amounts for Minneapolis-based rideshare technology company Vugo and Canadian company Vizetto. Both Vugo and Vizetto announced that with the funding they will expand to the Sunshine State.
The venture capital firm was also named the top VC firm within the Southeast.
