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6+ things to know in #MiamiTech: OneAdvisory raises $4.3M, Playmaker HQ acquired, plus news from Nicklaus Children’s, Venture Miami & more

Nancy Dahlberg
Nancy Dahlberg
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1

Wealth-tech startup OneAdvisory raises $4.3M

OneAdvisory, a wealth-tech startup based in Miami, has raised $4.3 million in seed funding to build software for financial advisers. Investors in the  round include Fika, Twelve Below, Expa, CoFound, Valor Equity, Atomic’s Jack Abraham, and Iconiq’s Chris Hubbell, according to Axios.

In a huge market that has seen little technological innovation, OneAdvisory is building critical software infrastructure for financial advisors allowing them to spend less time on manual, repetitive tasks and more time with their clients. Founded in 2022, the company partners with financial advisory firms to help them rapidly scale their business while giving their clients better outcomes.

“We are building the data connectivity layer for the RIA ecosystem. We’re fiercely independent and not tied to any existing industry infrastructure,” said co-founder and CEO Rob Nance on Twitter. “We believe that the best wealth-tech experiences come in a connected ecosystem. We want to make it easier for every company to build richer experiences and serve a wider audience by enabling a more integrated and end-to-end experience.”

Nance says every financial advisor runs their businesses differently and serves clients with unique goals and as a result there are hundreds of RIA SaaS products. “The resulting fractured ecosystem creates problems on both sides of the marketplace,” he said in his Twitter thread. “Advisors have to manually collect and repeatedly enter client data across their software stack, and  wealth tech companies have to build hundreds of bespoke data connections to enable cross-product compatibility. We are helping to solve both problems.”

Nance spent nearly a decade as a financial adviser. After that, he founded and ran CityBlock Capital, which he sold to Montgomery Securities in 2019, and spent a year directing sales and business development for Miami-based Securitize. He co-founded OneAdvisory with Madalyn Armigo  and Rafi Lurie. The co-founders were early employees of wealth-tech startup Vise, which they left to build OneAdvisory. OneAdvisor is a team of at least eight former financial industry veterans, tech founders and operators.

2

Playmaker HQ acquired by Denmark gaming media company

Playmaker HQ, a Fort Lauderdale-based sports and entertainment media platform, is being acquired by Better Collective, a Copenhagen, Denmark-based digital sports media group. Better Collective will pay up to $54 million for Playmaker, if certain earning targets are met, and $15 million up front.

Led by CEO Brandon Harris, Playmaker HQ specializes in providing original entertainment and sports content with exclusive athlete collaborations and creator talent mainly targeting the US market. The company said it currently distributes more than 2,000 monthly pieces of sports content mainly on Instagram, TikTok, Twitter, Snapchat, and YouTube. Playmaker reports it has more than 20 million followers across these platforms, up from 7 million in 2020, and in total  the content reaches over 500 million users monthly. Playmaker has partnered with top brands in the sports apparel and consumer goods industries.

Better Collective, a public company in Denmark, owns and operates sport communities and media that aim to make sports entertainment engaging and fun. Through its online media, the Group provides content, data insights, betting tips and educational tools for sports fans all over the world. Better Collective’s portfolio includes Action Network, VegasInsider.com, HLTV.org, FUTBIN.com, Betarades.gr and bettingexpert.com.

Harris called joining the Better Collective family is a significant milestone: “I know our creators are going to do amazing things with the support of Better Collective’s team and resources. We are just scratching the surface, and we are so excited to align with Better Collective to help achieve our vision of building the world’s leading sports media group.”

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3

Nicklaus Children’s uses VR to soothe children getting poked

Nicklaus Children’s Hospital has implemented state-of-the-art virtual reality therapeutics, called Smileyscope, to soothe children during needle procedures in the hospital’s Emergency Department. Nicklaus Children’s is among the first children’s hospitals in the nation and the first in South Florida to offer this child-friendly, immersive technology. 

“Needle procedures can be very stressful for children of all ages,” said Dr. David Seo, senior vice president and chief information and digital officer for Nicklaus Children’s Health System.  “The Smileyscope virtual reality tool supports our Emergency Department clinicians in providing the artful distraction that is so beneficial to children during such procedures. Families can request VR support to reduce their child’s discomfort and anxiety.” 

One of the most requested VR experiences sought by children is the underwater adventure, which features waves washing over the injection site and a fish nibbling on the child’s arm during the injection. Clinical trials have shown this VR program can safely and effectively reduce pediatric needle pain by up to 60 percent and anxiety by 40 percent, allowing for a more comfortable and positive patient experience. Read more in the South Florida Business Journal.

4

Florida leads in small businesses

A new study reveals which states have the highest number of small businesses per capita, and Florida tops the list.  The study conducted by business consulting firm Venture Smarter investigated Office of Advocacy and US Census data to determine which states are brimming with small businesses. 

The research revealed that Florida has the highest percentage of small businesses in the country, with 13,370 small businesses per 100,000 residents. In total, there are 2,979,054 registered businesses in Florida, with 2,974,046 being small businesses.

In second place is Wyoming, which has 12,398 small businesses per 100,000 people. Wyoming has a total of 72,901 registered businesses, with a whopping 72,081 being small businesses. Vermont follows in third place with a total of 12,191 small businesses per 100,000 people. The state has 79,666 total registered businesses, with 78,883 being small businesses.   Number 4 was Colorado, which has 11,836 small businesses per 100,000 residents. Out of the 694,753 registered businesses, 691,230 are small businesses.  New York takes fifth place, with 11,525 small businesses per 100,000 people. The state has over 2,272,792 registered businesses, with 2,267,870 being small businesses.

5

Deadline approaching to join medtech hub consortium

Venture Miami, in collaboration with regional stakeholders, is working to establish a Regional Technology and Innovation Hub  spanning across Broward, Miami-Dade and Palm Beach counties. Preliminary data analysis reveals “medical tech” as a leading category for the planning grant and/or designation to form this Tech Hub.
 
Venture Miami is calling on the help of partners in academia, the private sector, government, federal labs, unions, or any other organization driven by a passion for regional collaboration and the growth of the medical tech industry in South Florida. The U.S. Economic Development Administration (EDA) will designate at least 20 Tech Hubs across the country. As per the program guidelines, eligible consortia can apply to the EDA.

If your company or organization aligns with the “medical tech” category and you’re interested in joining the consortium, please fill out a survey by Friday, July 14, 2023. Find the survey here.

6

Opportunity knocks

  • Venture Atlanta 2023, Sept. 27-28, is accepting applications for pitching opportunities. For 16 years, the annual Venture Atlanta conference has been selecting the most promising tech companies in the Southeast and bringing in top investment firms from across the country to hear them pitch; this year the prize is $500K. Over 1,300 attendees and 350 funds expected to attend.  Applications accepted here through July 28.
  • Women in Tech and Entrepreneurship launched its fourth chapter in Fort Lauderdale in partnership with the Alan B. Levan, NSU Broward Center of Innovation. Based in Tampa, the organization was founded to empower women in technology and entrepreneurship. The groups are hosting an open house at the Levan Center  July 26. 
  • Want to build a career in tech but facing financial barriers? The Ironhack x eMerge Americas Community Impact Scholarship can help you break down those barriers and launch your dream career. Apply here.
  •  Venture Miami  and The Shrimp Society have partnered up to launch the Built in Miami Startup Program, a year-long initiative designed to support early-stage entrepreneurs in Miami. The Built in Miami Startup Program, free for participants, will feature three tracts for entrepreneurs at each stage of their startup journey: the Zero to One Sprint program, the Builders Summer Series, and the Miami Startup Accelerator. Applications can be accessed via builtmiami.com 
  • The Venture Miami Scholarship Fund provides tuition support to provide gap funding for at-need City of Miami residents who have been accepted into STEM or defined-demand occupation programs at participating colleges and universities, including Florida International University, Florida Memorial University, Miami Dade College, and the University of Miami. How to apply: Students who meet the program requirements and are interested in applying to the Venture Miami scholarship are encourage to complete this survey to begin the application process.
  • EndeavorLAB, an 8-week cohort-based initiative that equips founders with curriculum, mentorship and resources to grow their business, is accepting applications for its Black Founders Cohort Powered by Dell For Startups that begins in October. To be eligible, Black founders must be based in Florida, have achieved product-market fit, and are generating $50K to $500K in annual revenue. The program costs are covered by the sponsors.  Apply here by Sept. 10.
  • The Alan B. Levan/NSU Broward Center of Innovation is accepting applications for the 100 Startup Project. Applicants who are accepted will receive a yearlong membership to the Levan Center of Innovation. Apply here. 
  • Black Founders Exchange: In collaboration with Google for Startups and American Underground, Black Founders Exchange is a curated program designed to move companies with a high-growth, scalable model from initial product to successfully raising seed capital with their business. Learn more and apply by July 16.

ICYMI

Got news? Email Nancy Dahlberg at ndahlbergbiz@gmail.com and follow me on Twitter @ndahlberg

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Nancy Dahlberg
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