Florida’s startup scene just had a huge year! According to the eMerge Americas 2024 Insights Report, local startups raised a total of $4.1 billion in 2024, making the State of Florida the 6th in the U.S. for venture capital. Specifically, the Miami metro area even ranked 9th among U.S. cities, just behind tech hubs like Silicon Valley and New York.
The biggest win? West Palm Beach-based Vultr, a cloud computing company, secured a massive $333 million in its first funding round, pushing its value to $3.5 billion. Talk about a gamechanger!
South Florida tech companies dominated the scene, raising $2.7 billion across 358 deals. Financial tech led the charge, capturing 27% of the venture capital, followed by medical tech and climate tech, both making strong gains.
AI is also on the rise (unsurprisingly), with local startups in health, fintech, and robotics raising nearly $897 million. Plus, sports and gaming companies are gaining traction, securing $124 million.
All in all, 2024 was a banner year for Florida’s tech sector, and with the funding flowing, it looks like the state’s startup scene is only getting started!
