September brought plenty of deals.
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While Q3 may not have ended with a bang when it came to funding agreements, October brought plenty of deals that could prove just as valuable. We've got the full roundup of any deals you may have missed below.
- Sarasota-based and all-around under-the-radar company Roper Technologies Inc. closed two major divestment deals within the month. First, it sold Nashville-based TransCore, a transportation solutions provider, to Singapore-based ST Engineering in a $2 billion all-cash deal. It also closed a $120M all-cash deal divesting an Iowa-based medical technology company. But perhaps the bigger news to come from the company's Q3 call: CEO Neil Hunn said the deals will allow the company to have roughly $5B of available merger and acquisition "firepower" to deploy between now and the end of 2022. The Business Journal's got the full story.
- Coterie Insurance, a Cincinnati-based insurance tech company with a presence in Tampa, closed a $50M Series B round led by Tampa-based Weatherford Capital. The company uses a digital platform to make insurance easier for micro-and-small businesses. It's raised $75M since its founding in 2018.
- Nuke Goldstein, the co-founder of crypto giant Celsius, raised $400M. He plans to use a chunk of that to further flesh out the newly-opened Tampa office, which he hopes will have 100 by mid-next year. Get the full story.
- Hertz, an Estero-based company in the Southwest Florida region, filed for an IPO. It's been a bit of a journey for the car rental company, which first filed for bankruptcy in May 2020 and emerged from that in July 2021. It plans to be listed under the "HTZ" symbol on the Nasdaq.
- ARK Investment Management made a splash with its announcement it would be moving to St. Pete and teaming up with the Tampa Bay Innovation Center. Pinellas County asked for and later received $3.8 million from the U.S. Economic Development Administration to help with the rising construction costs of the center. The Business Journal has the full story.
- Local startup accelerator Tampa Bay Wave received another grant to boost women in technology in the Tampa Bay region. The latest is $50K from the Growth Accelerator Fund Competition, held by the U.S. Small Business Administration. CEO Linda Olson said the org will use the funding to further strengthen the programming of cyber startups. Learn more.
And the acquisitions:
- Tampa-based IT Authorities has been acquired by a Virginia-based publicly traded company. WidePoint Corp. announced in a Tuesday conference call purchasing consideration for IT Authorities included $8M in cash and $550K in stock warrants. The Business Journal has the details.
- St. Pete-based Neptune Flood, an AI-driven flood insurance company, acquired fellow St. Pete company Jumpstart Insurance Solutions for an undisclosed amount. The acquisition will help Neptune break into the AI-driven earthquake space. Learn more about Neptune Flood here.
