Tampa healthtech company Immertec has seen nothing short of a tsunami of interest since the coronavirus pandemic hit and now that interest has extended to investors.
Immertec, which offers medical training through virtual reality, has raised a $6 million round, according to CEO Erik Maltais. It's an extension on a Series A the company previously raised in October 2019, bringing the total to $12 million. Maltais' goal for the extension was originally $3 million.
"There were a lot of people interested before and just couldn’t make the timing, but now seeing the growth and business model, it makes so much sense to them in these times."
The round was raised by a mix of current investors and strategic investors in the health care industry. Revolution's Rise of the Rest Seed Fund, created by AOL co-founder Steve Case, also invested an undisclosed amount. Immertec had won $100,000 from the Rise of the Rest tour stop in Tampa in 2019.
Maltais said he plans to use the funds to bring on a chief operating officer, supply chain manager and customer success official.
"This is inflection point right now," he said.
He is now eyeing a "significantly larger" Series B round with hopes to close around Q2 or Q3 of next year.
"Especially nowadays with coronavirus, it's not where do you (business), it's what you're doing," Maltais said. "We have world class talent, work hard and we're solving a problem."
The funding comes at a time of explosive growth for the statrtup. The team is currently employing 20 in the Tampa Bay region, with expectations to double that by the end of the year. It has also signed an agreement with the University of South Florida Health to test the efficacy of the technology while also teaching it to students.
