Investor network nabs CEO

TAMPA — Well-known area executive Marc Blumenthal has been named CEO of Florida Funders, a Florida-focused investor network and online investing platform.

Blumenthal has launched and sold several tech-related companies in Tampa, including Progressive Business Solutions, a software firm, and Intelladon, which offers customized e-learning and talent management programs. Blumenthal was also previously a business development executive with Tribridge, a Tampa-based IT, cloud and computer security firm.

Florida Funders was founded in 2014, with a strategy to blend together equity crowdfunding, angel investing and venture capital. Accredited investors register on the Florida Funders website to check out potential companies. Once enough investors show interest in a specific startup, Florida Funders creates a special purpose investment fund for that business. Florida Funders makes money from a percentage of the gains in the funds it facilitates. Its first investment, in June 2014, was $80,000 in St. Petersburg-based SavvyCard, part of a larger $1.5 million capital raise at the online business card firm.

Florida Funders, according to an e-mail that announced Blumenthal's hiring, has closed eight transactions, and four more are ready to close a round of funding by the end of September. The organization recently moved into new office space in the Regions building in Westshore.