A newly launched startup formerly based in Boston has chosen Sarasota for its new headquarters.
It's a bit of a change in the now-typical narrative of tech entrepreneurs choosing Tampa or St. Pete for their new corporate home.
"We were looking at the Tampa area but our friends convinced us that Sarasota would be a great place to be," Stephen Catanzano, founder and CEO of KnaQ, said in an interview with Tampa Bay Inno. "It's growing rapidly in the number of people and there isn’t a lot of tech here now, but there's definitely talent here, no question. And a lot more is coming."
Catanzano first became familiar with Florida after his son began attending the University of Florida.
"I was getting calls from him that it 80 degrees in December," he said. "And once we got here, everything for us seemed to align really well. Both personally and business-wise, it's an energetic environment that we really like."
KnaQ first moved to St. Augustine, near UF, but a lack of talent made Catanzano shift to Sarasota after being introduced to the city by friends.
"Our company was designed to help people have the freedom to live wherever you want to live," he said. "So part of our decision moving here is living that same approach. We could stay in Boston because that's where the tech is, or move to Sarasota, in a very different environment, and create a company that thrives on remote work."
KnaQ, a play on "has a knack for that," offers a platform for users to either offer or receive services ranging from tutoring, handyman work, coaching and more.
The company was born two years ago as second incomes became more popular. It aims to create a community of buyers and sellers or those that offer services in live classes or webinars.
The coronavirus pandemic, Catanzano said, strengthened the company's value proposition: More people than ever know how to use virtual offerings, and a rise in remote work caused many to move and work across the country.
"Look at housing costs, education costs; many people found they need ways to find supplemental income," Catanzano said. "So we thought we can create a solution and make it exciting, not just professional work. You can be an accountant for 30 years but teach woodworking classes."
The company has 15 employees and plans to hit between 40 to 50 by mid-next year. It is also actively raising funds for a Series A for an undisclosed amount.
"KnaQ is a different kind of a tech company, where most of them you have to pour money into it and then get a product, but we're much more cash-flow driven," Catanzano said. "So our capital needs are not that high to get us in a great place. And if we do raise, it will be a much more rapid expansion."
