Growing the tech industry: how a wave entrepreneur played role in funding for video conferencing startup

May 7, 2020

It took veteran entrepreneur Steve MacDonald about a half-hour to see the potential in Vizetto, a technology company with a video conferencing platform to enable remote teamwork.

Steve MacDonald

After that meeting in March 2019 in a conference room at Tampa Bay Wave, an enthusiastic MacDonald, executive entrepreneur-in-residence at Wave and a partner and member of Florida Funders, pitched Vizetto as an investment candidate at Florida Funders.

A little over a year later, Florida Funders and Vizetto closed the deal, with Florida Funders co-leading a $3 million seed round for Vizetto, a Canadian company that’s planning to open its U.S. office in Florida.

The backstory of how the investment evolved highlights the power of connections and persistence, as well as the role startup hubs like Wave can play in growing the technology ecosystem.

“Wave is a standout place for aspiring entrepreneurs and aspiring companies. It’s a great resource that most early stage companies at least tap into when they are looking at Florida or looking at the marketplace around Tampa,” MacDonald said.

Allen Clary, director of investor relations at Wave, met Av Utukuri, Vizetto CEO and founder, through a mutual friend. Clary was intrigued because Vizetto’s product was similar to technology at Jibidee, a company Clary co-founded 12 years ago.

Allen Clary

Allen Clary

To read the full article by St. Pete Catalyst, click here.