There’s still plenty of Miami Tech Month left. Find our listing of events and conferences here and the fuller rundown on MiamiTechMonth.com.
So what’s going on in #MiamiTech? Read on for 6 things to know this week.
1
This just in: Biller Genie raises another $1M, extends seed round
Biller Genie, a cloud-based accounts receivable platform and e-invoicing solution, today announced it recently completed an extension round of $1 million in less than three weeks from the same investors that participated in its seed round. This additional investment comes less than six months after the Miami-based startup announced the closing of its $3.5 million seed, bringing the company’s total external funding to $4.5 million.
“Biller Genie continues to expand its distribution channels by solving major problems for their partners and the customers they serve, making it an easy decision to increase our investment in the company,” said Henry Helgeson, CEO of Boston-based Cayan.
The company plans to use the capital to accelerate hiring. Since its inception in 2020, the Miami-based company has expanded from 5 to 30 employees and has plans to hire at least 10-15 more employees this year for roles in Customer Success, Relationship Management, Partner Sales, Development, Tech Support, and more. The additional funding will also help the company position itself for a Series A round by the end of this year.
“As a Miami fintech entrepreneur and Miamian for decades, it’s extremely exciting to play a role in advancing our community as a nationally recognized tech hub,” said Biller Genie founder and CEO Tom Aronica in a recent Cafecito Talk with Miami Mayor Francis Suarez. “Miami is a melting pot of hard-working talent nestled in one of the best climates in the world sheltered by a favorable tax environment.”
READ MORE ON REFRESH: Biller Genie raises $3.5M to fuel expansion of its accounts receivable platform
Photo at top of post is of Biller Genie CEO Tom Aronica and President Garima Shah; Photo provided by Biller Genie.
2
Kaseya makes $6.2B acquisition
Miami IT management company Kaseya will acquire Datto, Connecticut-based provider of security and cloud-based software solutions with 1,700 employees, in an all-cash deal valued at $6.2 billion. The transaction will be funded by its investors Insight Partners, along with TPG Capital, Temasek and Sixth Street, and is expected to close in the second half of 2022.
“This is exciting news for Kaseya’s global customers, who can expect to see more functional, innovative and integrated solutions as a result of the purchase,” said Fred Voccola, Kaseya’s CEO, in a statement. “The alignment of our missions and focus makes us a natural fit, that will help our greatly appreciated customers reach new levels of success.”
In March, Kaseya signed a 10-year lease for 64,716 square feet at 777 Brickell, taking over the 2nd-4th floors, its second office place. The company plans to hire up to 500 employees this year as part of its recent hiring spree. Kaseya currently has about 2,000 employees globally.
READ MORE ON REFRESH: Kaseya plans to triple Miami workforce, open cybersecurity operations center in Miami
3
Another unicorn in our midst: Grover
Grover, a Berlin-based consumer technology rental website that recently established its U.S. headquarters in Miami, announced it has raised a Series C round of $330 million in debt and equity at a valuation of more than $1 billion – unicorn territory.
The series C round consists of $110 million in equity led by Energy Impact Partners, who were joined by Co-Investor Partners, Korelya Capital, Mirae Asset-LG Electronics New Growth Fund, as well as existing investors Viola Fintech, Assurant and coparion. The $220 million in debt financing was from Fasanara Capital. Media funds German Media Pool and SevenVentures also joined the round.
Grover plans to use the new funding to expand in new countries, as well as grow subscribers in existing markets – Germany, Austria, Spain, the Netherlands and the USA – as it tackles what it says in a $110 billion tech rental market. Having opened a base in Miami in 2021, the US is an important focus for Grover this year. The company has ambitious plans to expand in the Miami market, and as a first step will hire over 100 people to join the team.
“The tech rental movement is a major worldwide societal shift, one that will transform how we access and use technology to be more flexible and sustainable. We see players from all sides of the market getting ready to join this phenomenal new market segment with extraordinary growth and profit opportunities ahead,” said Michael Cassau, Grover’s Founder and CEO, in a statement. “Our joint goal is to simplify access to consumer tech and to bridge the tech gap for people all around the world.”
Grover’s products are returned, refurbished and recirculated until the end of their usable life. The company currently has 500,000 items in its inventory, covering the consumer electronics spectrum. The company has over 450 employees today, with plans to continue growing the team in all markets.
READ MORE ON REFRESH: Tech rental scaleup Grover chooses Miami as its US HQ, prepares for rapid expansion
4
TheVentureCity hires Marie Berry as CMO
Miami-based fund TheVentureCity has hired seasoned international entrepreneur and investor Marie Berry as its first ever Chief Marketing Officer (CMO) and Operating Partner. Born in Bolivia, raised in Europe, BerryMarie is an entrepreneur with two exits under her belt, angel investor and international marketing veteran who has lived in six countries, and worked for the likes of Adidas, Ford, and Chanel.
As well as elevating TheVentureCity’s unique vision for global, diverse, borderless entrepreneurship, Berry will pioneer marketing efforts for early-stage startups. Strategic communications are a pillar of growth, yet often overlooked by young companies, and Marie will help them articulate their brand to employees, customers and investors. “I’m a founder at heart, and love that TheVentureCity is built and run by operators who now happen to be investors,” said Berry. “I don’t see this as a career shift to venture capital, but rather as a continuation of building businesses.”
READ MORE ON REFRESH: Miami martech startup Kara acquired by proptech VisuWall
5
How to learn from great founders and investors about fund-raising
The SoftBank Group Corp. Operator School brings you masterclasses from leading entrepreneurs and operators and their lessons on how they have build their companies. SBOS has recent made available for free all the content of Season 2 of the Operator School focused in fund-raising from seed to IPO. Find it here.
6
Opportunity knocks
- Get hired in tech! The Venture Miami Tech Hiring Fair is 4 pm to 7 pm on Thursday, April 14, at Miami Dade College Wolfson Campus with some 75 companies posting about 2,000 open positions. Participating companies include TradeStation, Trend, OpenStore, Slalom, Schoenfeld, REEF, . Amazon, Majority, SwagUp, kzseya, Blackstone and EveryMundo. Job seekers should come ready for on-site interviews. The fair is free and open to the public. Learn more here.
- Endeavor Miami is partnering with the City of Boca Raton Office of Economic Development for its second EndeavorLAB cohort of the year, focusing on local entrepreneurs in the city. Applications are now open to founders and companies in Boca Raton who want to participate in the growth program. Learn more here.
- 776 Foundation announced a fellowship that will give $20 million to young people over the next decade to work on climate solutions. Each year, 20 climate fellows between the ages of 18 and 23 will receive a $100,000 grant each, along with support from the foundation’s network of founders, investors, and partners. Apply here.
Follow @ndahlberg on Twitter and email her at [email protected]
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