Things are at full sprint in the Tampa Bay Wave startup scene as 2020 winds down. Multiple Wave companies have either closed rounds or are in the process of closing rounds before the end of the year. A few highlights are below, including a pair of liquidity events. Please reach out to Wave Cohort Director Dr. Richard Munassi for any introductions to these great companies or to learn more about companies who are actively raising at the moment.
Early-Stage Companies Watch List
Medzoomer was in the Wave cohort focused on local startups that concluded in February. The healthtech startup launched in multiple states in November, delivering medications to patients in Florida and Arizona, with the company rolling out to North Carolina and Ohio and several other states through early Q1 2021. Medzoomer went from idea phase to inking strategic partnerships with enterprise clients and generating revenue in under 11 months, making them one of the fastest moving Wave companies to date.
Home Lending Pal
Home Lending Pal, led by serial entrepreneur Bryan Young, recently secured a lead investor for their Seed round, and is currently oversubscribed. The TechDiversity 2020 cohort member, which is focused on the mortgage lending space, has landed multiple partnerships with large banks and other financial institutions, as well as IBM.
Solo Funds was also part of the TechDiversity 2020 cohort and recently won the 2020 Startup of the Year Competition by Established. They have hit astonishing growth metrics and are primed for a strong post-Series A run, as the company is currently wrapping a financing round.
Continued growth during the pandemic, including a six-figure licensing deal with a non-profit out of Texas, has the EdTech company primed for a big 2021. A financing round filled by previous investors that closed recently will help fuel Knack’s growth and expansion into the New Year and beyond.
Over the course of a year Script has increased their client base from schools in just a small number of states to over two dozen, and is looking to continue the success as 2021 kicks off. A recent $500,000 round filled by previous investors will help the company add human capital as it looks to expand.
Growth Stage Breakout Successes
Late 2020 has been a big win for Wave growth stage companies as well. In aggregate, three Wave companies in the healthtech/health and wellness/medtech vertical alone have raised well over $100M in 2020 and have their sights on a big 2021 (Immertec, Neuroflow, and Peerfit). Here’s a look at recent wins for some Wave growth stage companies:
The VR-based medical training solution continues to expand both its enterprise contracts, as well as its team as the year comes to a close. Additions at the executive level, sales team, and more will bring the company close to a 50 person headcount, with the company expecting to grow rapidly in 2021.
Peerfit - Liquidity Event!
A liquidity event in Q4 and continued growth throughout the year has the fast growing health and wellness company and its investors happy and excited for the future.
180byTwo - Acquired!
The MarTech company, whose clients included IBM, T-Mobile, SAP, and multiple other blue chips, was acquired by MeritDirect, a New York based firm. 180byTwo founders Eric Shaffer, Ben Goldman, and Karl Hjartarson have also taken leadership roles with the acquiring company.
The FinTech company has shown continued growth in 2020 and was recently accepted into the ICBA ThinkTECH Accelerator 2021 that will kick off on January 4, 2021. Led by founders Miraj Patel and Andrew Scarborough, Harness is the industry leader in recurring giving and donor experience automation for non-profits, counting organizations such as the Make a Wish Foundation, United Way, Boys and Girls Club, and more amongst its clients.
Next year is anticipated to be a big year when it comes to growth for Wave companies, with several startups slated for Series A and B rounds. We anticipate several great cohorts as well, starting with a strong start in January with the inaugural Cybertech|X Accelerator cohort.