CENTRAL FLORIDA START-UPS DRAW $62.1 MILLION IN CAPITAL
Released Monday, May 15, 2000
by Venture Capital Column

Venture capital investment quadrupled in Central Florida and tripled statewide in the first quarter over the same time in 1999, according to the latest survey by PricewaterhouseCoopers. Investors poured more than $301 million into Florida companies. There were 31 deals, almost double the number in the first quarter last year. Central Florida, including Melbourne, garnered eight deals and almost $62.1 million. South Florida companies sealed 13 deals and more than $159 million.
 
Florida 1st-quarter 2000 deals:
 
1. 2nd Century Communications
 
City: Tampa
 
Industry: Telecommunications
 
Description: CLEC with ATM-based technology, providing networking and telecommunications services
 
Stage of development: Expansion
 
Financing round: Third
 
Amount: $2,500,000
 
Investors: Accel Partners, Venrock Associates, North Bridge Venture Partners, Meritech, Microsoft Corp.
 
2. BizProLink.com
 
City: Boca Raton
 
Industry: New media
 
Description: Network of B2B community portals and Web sites for content and commerce
 
Stage of development: Early
 
Financing round: First
 
Amount: $3,500,000
 
Investors: CrossBow Ventures, Netinvest, Power Equity AG
 
3. ByeByeNow.com
 
City: Pompano Beach
 
Industry: Business services
 
Description: Online provider of travel services and travel content focusing on leisure side of industry
 
Stage of development: Early
 
Financing round: Second
 
Amount: $33,000,000
 
Investors: CrossBow Ventures, World Span
 
4. CAVU
 
City: Orlando
 
Industry: Telecommunications
 
Description: Delivers affordable high-speed Internet access to business users
 
Stage of development: Early
 
Financing round: First
 
Amount: $19,400,000
 
Investors: Adams Capital Management, Digital Media Capital, Patricof & Co., Advent International, PSINet
 
5. d'essence Personal Luxury Products
 
City: Palm Beach Gardens
 
Industry: Retailing/distribution
 
Description: Telemarketer of imitation of perfume products
 
Stage of development: Start-up/seed
 
Financing round: Second
 
Amount: $150,000
 
Investors: Sycamore Ventures, LM Capital Corp.
 
6. dbusiness.com (American Digital Media)
 
City: Fort Lauderdale
 
Industry: New media
 
Description: Publishes business news through a network of local-oriented Web sites across the United States.
 
Stage of development: Early
 
Financing round: First
 
Amount: $16,000,000
 
Investors: BancBoston Capital and Ventures, U.S. Equity Partners, Times Mirror Interactive, TMCT Ventures
 
7. DesktopDollars
 
City: Jupiter
 
Industry: Business services
 
Description: Internet-based information intermediary that sells access to membership lists
 
Stage of development: Early
 
Financing round: First
 
Amount: $600,000
 
Investors: Advantage Capital and others
 
8. Digital Owl
 
City: Winter Park
 
Industry: New media
 
Description: Web-based publishing media with copyright protection solutions
 
Stage of development: Early
 
Financing round: Second
 
Amount: $1,000,000
 
Investors: Draper Atlantic Venture Fund and others
 
9. Dynacs
 
City: Palm Harbor
 
Industry: Electronics/instrumentation
 
Description: Develops advanced techniques in the areas of information science systems, aerospace and satellite system operations
 
Stage of development: Late
 
Financing round: Bridge
 
Amount: $1,900,000
 
Investors: RG Capital Fund
 
10. Encore Development
 
City: Jacksonville
 
Industry: Business services
 
Description: Provides Web solutions to large corporations, focusing on e-business and datawarehousing
 
Stage of development: Late
 
Financing round: Fourth and beyond
 
Amount: $2,500,000
 
Investors: Rock Creek Partners
 
11. Gold Coast Restaurants
 
City: Tampa
 
Industry: Consumer services
 
Description: Seafood restaurant chain
 
Stage of development: Early
 
Financing Round: Second
 
Amount: $10,250,000
 
Investors: Lovett Miller & Co., Jefferson Capital Partners, SSM Venture Partners
 
12. Highlander Communications
 
City: Lakeland
 
Industry: Software
 
Description: Develops middleware applications and tools that enable its clients to develop end-user wireless applications
 
Stage of development: Early
 
Financing round: First
 
Amount: $2,000,000
 
Investors: Lovett Miller & Co. and others
 
13. Intelligent Machines Corp.
 
City: Titusville
 
Industry: Electronics/instrumentation
 
Description: Develops, manufactures and sells real-time 3-D systems used in manufacturing and assembly-line processes
 
Stage of development: Early
 
Financing round: Bridge
 
Amount: $150,000
 
Investors: Advantage Capital Partners
 
14. iviewit.com
 
City: Boca Raton
 
Industry: New media
 
Description: Provides outsourced streaming video and high-speed, full-screen digital imaging over the Internet
 
Stage of development: Start-up/seed
 
Financing round: First
 
Amount: $1,500,000
 
Investors: CrossBow Ventures and others
 
15. Liquid Golf
 
City: Orlando
 
Industry: Consumer services
 
Description: Online golfing community that features news, information and e-commerce
 
Stage of development: Early
 
Financing round: Second
 
Amount: $12,000,000
 
Investors: RG Capital Fund and others
 
16. MediaBrains.com
 
City: Naples
 
Industry: New media
 
Description: Outsourcer of online tools to the publishing/new media industry
 
Stage of development: Expansion
 
Financing round: Second
 
Amount: $13,500,000
 
Investors: Plum Holdings, TL Ventures, Seaport Capital Partners and Advanta Partners
 
17. Mesh Networks
 
City: Maitland
 
Industry: Semiconductors/equipment
 
Description: Designs and builds wireless chip sets using next generation technologies that include switching and routing intelligence within the subscriber unit
 
Stage of development: Start-up/seed
 
Financing round: First
 
Amount: $1,000,000
 
Investors: BancBoston Capital and Ventures, Patricof & Co.
 
18. Military Commercial Technologies (MILCOM)
 
City: Maitland
 
Industry: Business services
 
Description: Provides technology research and development and consulting services to identify military financed technologies with commercial applications
 
Stage of development: Not categorized
 
Financing round: Not categorized
 
Amount: $16,000,000
 
Investors: BancBoston Ventures, Patricof & Co. and others
 
19. Muvico
 
City: Fort Lauderdale
 
Industry: Publishing/broadcasting
 
Description: Operations IMAX movie theaters
 
Stage of development: Expansion
 
Financing round: Not categorized
 
Amount: $1,500,000
 
Investors: BCI Partners
 
20. NT Corp. (Network Telephone Corp.)
 
City: Pensacola
 
Industry: Telecommunications
 
Description: DSL CLEC focused on Southeastern states
 
Stage of development: Not categorized
 
Financing round: Second
 
Amount: $33,000,000
 
Investors: Morgan Keegan & Co., Spectrum Equity Investors, Mellow Ventures, Onset Ventures, Lehman Bros.
 
21. Parkstone Medical Systems
 
City: Weston
 
Industry: Health-care services
 
Description: Develops hand-held PDAs for physicians
 
Stage of development: Early
 
Financing round: Second
 
Amount: $31,000,000
 
Investors: Partech International, Oak Investment Partners, Cardinal Health Partners, Salix Ventures
 
22. Parts Locators International
 
City: Jacksonville
 
Industry: Business services
 
Description: Auto-parts exchange on the Web
 
Stage of development: Start-up/seed
 
Financing round: Initial/seed
 
Amount: $2,000,000
 
Investors: Interprise Technology Partners, Advantage Financial Group and others
 
23. Pronto Capital Technologies
 
City: Fort Lauderdale
 
Industry: Electronics/instrumentation
 
Description: Quick-turn manufacturer of prototype and pre-production printed circuit boards
 
Financing round: Fourth and beyond
 
Amount: $3,200,000
 
Investors: North American Funds
 
24. ScoreCard USA
 
City: Orlando
 
Industry: New Media
 
Description: Personal Internet portal for amateur athletes
 
Stage of development: Early
 
Financing round: First
 
Amount: $2,500,000
 
Investors: CrossBow Ventures
 
25. SweepsClub.com
 
City: Deerfield Beach
 
Industry: New media
 
Description: Online game and prize contests
 
Financing round: First
 
Amount: $2,000,000
 
Investors: CrossBow Ventures
 
26. Switch and Data Facilities
 
City: Tampa
 
Industry: Telecommunications
 
Description: Carrier neutral co-location service provider
 
Financing round: Second
 
Amount: $17,500,000
 
Investors: Seaport Capital Partners, Summit Capital Associates
 
27. TowerCom Development
 
City: Jacksonville
 
Industry: Networking and equipment
 
Description: Operates communications towers in the Southeast
 
Stage of development: Start-up/seed
 
Financing round: Initial/seed
 
Amount: $7,300,000
 
Investors: Lovett Miller & Co.
 
28. US Bid
 
City: Melbourne
 
Industry: Business services
 
Description: E-commerce intermediary for electronic components
 
Stage of development: Early
 
Financing round: First
 
Amount: $10,000,000
 
Investors: Brinson Partners, Spectrum Equity Investors
 
29. Vitalcast.com
 
City: Tampa
 
Industry: Health-care services
 
Description: Web site offering information on alternative health-care services
 
Stage of development: Start-up/seed
 
Financing round: Bridge
 
Amount: $1,000,000
 
Investors: Imlay Investments
 
30. Wild Card Systems
 
City: Sunrise
 
Industry: Software
 
Description: Developing online payment systems for insurance industry
 
Financing round: Third
 
Amount: $18,400,000
 
Investors: Sutter Hill Ventures, Greenwich Street Capital Partners, E.W. Branch and others
 
31. Xcelerate
 
City: Fort Lauderdale
 
Industry: Business services
 
Description: E-commerce information technology consulting firm
 
Financing round: Third
 
Amount: $35,000,000
 
Investors: Idealab Capital Partners, Bessemer Venture Partners and others
 

 
Copyright 2000, Unauthorized reproduction prohibited.
 

 

 

 

 

 

 

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