Friday, June 15, 2018
Business

In leaner third quarter for venture capital, four Tampa startups still land funding deals

Venture capital deals in the third quarter declined across the country but still delivered fresh funding to four Tampa firms, according to new national data. Among the area recipients are startups that provide real estate advisory services, health care management, streamlined school pickups and medical record retrieval services.

In all, the four local deals are part of the $10.6 billion venture capitalists invested in 891 deals nationwide in the third quarter, according to the PwC MoneyTree report based on data from Thomson Reuters.

Total venture dollars deployed to startup companies for the quarter fell 32 percent and the total deal count was down 11 percent, compared to the second quarter when $15.6 billion was invested in 999 deals. Compared to last year's third quarter, dollars and deals declined 36 and 25 percent, respectively.

Tampa's SiteZeus Services secured $1.5 million from lead investor and software industry veteran Chuck Cooper. Last year, the startup received a $2.2 million investment led by Outback Steakhouse co-founder and restaurant entrepreneur Chris Sullivan. The real estate firm helps businesses, such as Little Greek Restaurant, Sonny's BBQ and First Watch, find the best locations.

Also getting funding in the quarter was CareSync, whose technology helps coordinate medical care. It received multiple infusions totaling $4.2 million from Tullis Health Investors and Greycroft Partners, among others. In 2015, CareSync attracted $18 million in VC funding.

PikMyKid received $1 million from the Florida Angel Nexus investor groups and others. Its technology, which helps streamline student dismissals and car lines, is used by Tampa's Berkeley Prep and a number of charter schools across the country. And Choice Legal, which retrieves medical records for insurance law firm clients, also received funding. The amount was not disclosed.

Nationwide, recipients of some of the biggest VC deals in the third quarter included California-based Airbnb ($555.5 million), which provides short-term rentals in people's homes, and FreshDirect ($189 million), a food delivery service operating in the New York City region.

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