South Florida startups raised $4.13 billion across 376 deals in 2025, up 49% by dollar value from 2024 while deal count rose about 5%. Bigger rounds drove the gain: the region recorded nine megarounds, including every venture round of $100 million or more in the state.
The figures come from the eMerge Americas 2025 Florida Venture Capital Report, researched by Nancy Dahlberg of Refresh Miami from PitchBook, CB Insights, Crunchbase and Refresh Miami data. The "South Florida hub" runs from Miami-Dade through Palm Beach County, and it captured 71% of Florida's venture dollars and 65% of its deals. The Wall Street South migration brought financial firms; now the startup ecosystem is building on top of that capital base.
Source: eMerge Americas 2025 Florida Venture Capital Report (PitchBook, Refresh Miami, CB Insights, Crunchbase and author's research, fundings through Dec. 31, 2025). Venture data lags, and totals can be revised.
Yearly totals: 2020 and 2021 per Refresh Miami's write-up of the 2021 eMerge report; 2022 and 2023 per Refresh Miami's write-up of the 2023 eMerge report; 2024 and 2025 per the eMerge Americas 2025 report, whose Miami-Fort Lauderdale chart shows the same 2020-2023 values.
The biggest raises of 2025
South Florida's largest rounds reveal the region's sectoral strengths: healthcare AI, enterprise software, fintech, and climate tech.
| Company | Amount | Sector | Round | HQ |
|---|---|---|---|---|
| OpenEvidence | $200M | AI for clinicians | Series C | Miami |
| MaintainX | $150M | Frontline workflow software | Later-stage VC | Miami |
| Syncromune | $131.8M | Drug discovery | Early-stage VC | Fort Lauderdale |
| Exowatt | $120M | Renewable energy | Series A | Miami |
| Cast AI | $108M | Cloud automation | Series C | Miami |
| O.N.E. Amazon | $105M | Conservation finance (crypto) | Later-stage VC | Miami |
| Flow Life | $100M | Real estate tech | Series B | Bay Harbor Islands |
| Iru | $100M | Security and IT management | Later-stage VC | Coral Gables |
| Rocket Youth | $100M | Youth sports platform | Undisclosed | Miami |
| Open Blue Cobia | $98.7M | Sustainable aquaculture | Later-stage VC | Miami |
Source: eMerge Americas 2025 Florida Venture Capital Report, top Florida deals (South Florida companies shown).
Earlier megarounds laid the groundwork. In November 2021, Miami-based Papa, which matches older adults with trained companions, raised a $150 million Series D led by SoftBank Vision Fund 2, as reported by Refresh Miami.
The most active investors
South Florida's investor landscape has matured beyond the "Miami-curious national VC" phase. Local firms now lead early-stage rounds, while national firms increasingly maintain permanent SoFl presence.
| Firm | Focus | Stage | Base |
|---|---|---|---|
| Starwood Capital | Real estate tech, hospitality | Growth | Miami Beach |
| SoftBank LatAm | Cross-border, fintech | Series A-C | Miami |
| H.I.G. Capital | Growth equity, buyouts | Growth | Miami (HQ) |
| Fuel Venture Capital | Enterprise SaaS, fintech | Series A | Miami |
| Las Olas VC | Broad early-stage | Seed-A | Fort Lauderdale |
| 500 Global | Broad early-stage | Pre-seed/Seed | Miami office |
| Rokk3r | Venture studio model | Seed | Miami |
| Founders Fund | Generalist tech | Multi-stage | Miami office since 2021 (Wynwood) |
The family office ecosystem adds another layer: offices like Bess Ventures, Raptor Group, and Talisman Capital increasingly participate in early rounds, especially in fintech and proptech where they have operational expertise. For a full directory of South Florida investors, see our Miami VC Firms tracker.
Accelerators, events, and infrastructure
South Florida's startup infrastructure has expanded rapidly:
Accelerators: 500 Global Miami, CIC Miami (co-working + accelerator), The Idea Center at MDC (Miami Dade College), FAU Tech Runway (Boca Raton), and the Boca Raton Innovation Campus. Palm Beach Atlantic University's entrepreneurship program is producing a pipeline of local founders.
Events: eMerge Americas (its 2025 edition drew more than 20,000 attendees, according to the City of Miami Beach), Miami Tech Week, Palm Beach Tech Association events, SFTA Innovation Awards, and an increasing number of sector-specific conferences in fintech, climate, and healthcare AI.
LatAm bridge: Miami's geographic position and cultural connections make it the natural entry point for Latin American startups raising US capital. SoftBank ran its Latin America fund from Miami and earmarked $100 million for Miami-based startups in January 2021, as reported by TechCrunch. This LatAm bridge is a structural advantage that no other US tech hub can replicate.
Bottom line: South Florida raised $4.13 billion across 376 deals in 2025, up 49% from 2024, and kept the Miami metro in the national top 10 by both dollars (9th) and deals (5th). The region's advantages are structural: zero state income tax attracting capital (see our Wall Street South tracker), Latin American connectivity, a maturing local investor base, and a talent pool drawn by lifestyle and the financial firm migration. The 2021 "Miami is the new Silicon Valley" narrative was premature. But $4 billion in a year and nine megarounds isn't a narrative — it's an ecosystem. Track every deal on our South Florida Funding Tracker.
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