Tampa Bay companies have raised $110.2 million in the first half of the year, according to the latest Pitchbook and National Venture Capital Association report.
The number is a minor dip compared to the same time frame in 2020, which brought $117 million to the region. The number of deals had a slight bump, with 30 companies receiving deals this year versus 2020's 22 deals.
2020 garnered more than $264 million — if 2021 continues its current pace, it is on track for roughly $40 million less.
Florida's deal flow overall was a bit more promising. More than $1 billion managed to be raised in Q2 alone, proceeding nearly $500 million raised in Q1, according to the report. A massive amount of venture capital firms have expanded or relocated to the state in the last year, many focused on South Florida in the Miami region.
But Tampa Bay has held its own as well with local funds. TampaBay.Ventures, a $20 million, five-year fund, launched in May. And former Pennsylvania firm Stoney Lonesome Group announced earlier this month it has relocated its headquarters to the region.
The Tampa Bay Business Journal gathered the top deals of the year so far below.
- Cybersecurity firm OPSWAT, which relocated from Silicon Valley to Tampa in December 2020, received a $125 million growth investment in March. CEO Benny Czarny plans to use the funding to further its acquisition strategy and is eyeing an initial public offering in the next 15 months.
- Tampa startup Aspen RxHealth, which leverages both the telehealth and gig economy industries, received $23 million in January. The company previously raised a $9 million Series A round.
- Tampa-based Weatherford Capital broke into the Florida tech investment world in January, with a $22.5 million Series A investment in Tampa-based SOMA Global. SOMA Global provides a cloud-based system for first responders.
- Clearwater-based startup Red Rover, which was founded by PODS founder Peter Warhurst, raised $13.6 million in January. Warhurst said the new funding will be used for market expansion, but "with expansion come personnel (hires)."
- Tampa startup mIQrotech, which uses artificial intelligence to predict oil pipeline leaks, raised more than $10 million in June. The Series A round was jointly led by Page Angel Investor Fund, which is an offshoot of the Harvard Business School Alumni Angels, and an undisclosed investor that had previously participated in SpaceX funding.
Read more: Tampa Bay's tech and startup scene had a banner first half of 2021
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