Tampa Bay, Florida Incubates Next-Generation Technology Software Startups
I’ve seen the potential future of cloud services and MSP software startups. It’s largely located in Tampa, Florida. From an angel investor viewpoint, I like much of what I see (at least so far).
First, the background: Admittedly, I’m a New Yorker since birth. I’ve spent a half-century (well, a bit more…) calling Long Island my home. But friends and loyal readers know that my family and I plan to eventually relocate to Florida.
Florida Technology Startups: The Angel Investor Scene
With that realization in mind, I began to explore the Florida angel investing scene around 2018. My search led me to Florida Funders, a venture capital fund and crowd-funding platform headquartered in Tampa, Florida. Down the road, I also discovered Tampa Bay Wave, an accelerator that has supported 460 startups to date.
Take a closer look at the Tampa Bay investor scene, and you’ll see multiple MSP software industry veterans funding and/or advising the next generation of technology startups. Key names to know include numerous ConnectWise veterans — including Co-Founders Arnie and David Bellini, former President Santo Cannone, former Chief Revenue Officer Adam Slutskin, and former Director of Corporate Business Development Gerwai Todd.
Fast forward to 2023, and those folks are nurturing multiple startups in and around the Tampa area. And in many cases, they’re also building and running their own companies. David Bellini and Adam Slutskin are scaling CyberFox, and Gerwai Todd and team are expanding TimeZest.
Of course, plenty of additional software firms are funding startups in Tampa. One prime example is KnowBe4 Ventures — which is the venture capital arm of the security awareness training software company.
Example Tampa Bay Technology Startups to Know
Channel Angels also is increasingly active in Tampa. Two examples:
Florida Funders Engagements: We’ve made at least a dozen angel investments via Florida Funders. Among the most promising startups: Rewst, a robotic process automation (RPA) software company that’s led by multiple MSP software and technology industry veterans. We jumped into the $21.5 million Series A round in November 2022 as a follow-on to an earlier seed investment.
Tampa Bay Wave Discussions: More recently, we’ve been speaking with 15 members of the CyberTech|X 2023 Accelerator. The 90-day accelerator program is “exclusively for innovative and disruptive technology startups focused on cybersecurity.” The program will wrap up on March 29, when program members will participate in a pitch night featuring accredited investors, venture capitalists, Tampa Bay community members and cybersecurity industry leaders.
Cybersecurity Startups Blend Multi-Tenancy, AI Automation to Engage MSPs
Take a closer look at that Tampa Bay Wave accelerator. Many of those cybersecurity startups have built their platforms with multi-tenancy capabilities for MSPs. Some have also built in machine learning, artificial intelligence (AI) and data lake capabilities that automatically gain intelligence through endpoint sensors and more.
There’s also signs of progress on the diversity, equity and inclusion (DEI) front. Indeed, 11 of the 15 startups are led by underrepresented founders, Tampa Bay Wave said in a January 2023 statement. Moreover, companies from Australia, Israel, Mexico, and Singapore are represented in the accelerator.
Want to learn more? Startups in the current cyber accelerator (sorted alphabetically) include:
Avertro: A cyber command SaaS platform that helps leaders manage, measure, and report on their cybersecurity performance and make business-driven decisions.
BreachQuest: A platform provider that will help customers to speed, scale and automate breach response.
CleverFi: A WiFi security and reliability specialist.
Cyvatar: A provider of fully managed security subscriptions.
DeviceTotal: A platform that automatically protects non-managed devices and networks from cyberattacks.
Hackmetrix: A compliance, penetration testing and cloud monitoring expert that serves Latin America startups and small businesses.
Infiltron Software Suite: A proactive, real-time IoT cybersecurity solution that leverages AI, Blockchain, and Quantum to provide innovative cybersecurity protection.
Keep Aware: A browser-based security system that uses behavioral analytics to block phishing, data loss and malicious downloads.
Phalanx: Which provides security & visibility to data that resides outside databases (unstructured data) with Zero Trust Data Access (ZTDA).
Privacy Lock: Which offers a single solution that addresses global compliance with privacy laws (such as GDPR, CCPA, etc.).
Seccuri: A cybersecurity talent platform that helps to automate talent acquisition, talent upskilling, and reskilling.
Stratawise: A Zero-Trust no-code/low-code SaaS platform for process automation.
Vultara: A Web-based Cyber Security Management System (CSMS) dedicated to cyber-physical system manufacturers.
X80 Security: Which quantifies Cyber Risk in dollars and helps CISOs maximize their budget.
Zendata: A platform for CISOs and compliance leaders who want to understand and mitigate their privacy risks.
Notes and investment disclosures: Channel Angels is not an investor in the Tampa Bay Wave accelerator companies listed above, though we are in touch with several of the companies to learn more about their business thesis and long-term strategies. If/when we invest in businesses, we disclose the information on our portfolio page.
P.S. - Don’t Forget Miami, Florida
Critics who read the blog above may point to Miami, Florida as another hotbed for software startups. That’s certainly true. And companies such as Kaseya have been a magnate for attracting more MSP-oriented talent and venture dollars to the area. Perhaps we’ll explore the Miami scene in a future blog entry. Stay tuned.
Got Questions? Email Me
Still got questions about the startup scene in Florida and associated funding opportunities? Feel free to email me: Joe@ChannelAngels.com. Thanks in advance your your inquiries.