$1.2B invested in Birmingham-based Therapy Brands + more startup news in Alabama

Innovation Depot
Innovation Depot in Birmingham is set to get a new tenant. Photo via Innovation Depot on Facebook

From new tech accelerator programs to billion-dollar investments, the Alabama tech scene has had a great week. We took a look at four promising stories to learn more.

1. SportAI to set up headquarters in Birmingham’s Innovation Depot

A new startup has plans to set up their headquarters in Innovation Depot. Photo via SportAI

Out-of-state tech company SportAI has plans to set up shop at Birmingham’s Innovation Depot, following a pre-seed funding round that netted the company over $100K. Located in Washington, DC and Madison, WI, SportAI is a mobile app-based company that combines Artificial Intelligence to the fantasy spots world, to help users make the most of their analytics. Currently, SportAI is working their way through Innovation Depot’s 2021 Velicity Accelerator, a program that helps promising startups with best practicies, advice and more from a collection of mentors and industry experts.

2. New York-based KKR & Co. to buy Therapy Brands for $1.2B

Therapy Brands
Therapy Brands helps ease the transition to telehealth for therapists and their patients. Photo via Therapy Brands

Therapy BrandsWebsite | Facebook | LinkedIn

KKR & Co., an American global investment company based out of New York, recently announced their plans to buy a majority stake in Birmingham-based Therapy Brands. But why Therapy Brands?

In the era of social distancing and virtual meetings, it can be difficult for patients to keep in touch with their preferred therapists. In order to ease the switch to virtual meetings, Therapy Brands helps practicing therapists continue to offer excellent care to their patients.

Therapy Brands’ CEO, Kimberly O’Loughlin, was recently named among the “100 Most Power Women in Technology 2020” by Analytics Insight.

3. A New Tech Accelerator in Huntsville

Photo via gener8tor

Two tech accelerators are teaming up to offer new programs to entrepreneurs in North Alabama. Starting mid-2021, gener8tor and the MidCity Accelerator Foundation, Inc will be offering four annual programs for technology startups in the state.

The partnership will offer three annual gBETA “pre-accelerator” programs and an annual “gener8tor Accelerator Studio” program.

  • gener8tor Accelerator Studio: Participants will work closely with gener8tor staff to build, design, launch brand-new products throughout the 16-week program.
  • gBETA: Participating startups will receive mentorship from the gBETA team and 25+ mentors, access to an exclusive “Pitch Night” reception, the opportunity to network local entrepreneurs and a ton of additional perks.

4. Innovation Depot Announces Winners of first Voltage Pitch Off

Innovate Birmingham
The three winners of the first-ever Voltage Pitch Off. Photo via Innovate Birmingham on Facebook

On April 14th, Innovation Depot announced the winners of the first-ever Voltage Pitch Off, part of the tech incubators new Voltage accelerator program. Throughout the nine-week program, participants worked with Voltage staff to transform their ideas into a viable product.

Click here to learn more about the 11 participating startups in the first Voltage Accelerator.

Know about startup news in your community? Help us stay in the loop by tagging @thebamabuzz with your startup news!

Nathan Watson
Nathan Watson

Tennessee native who fell in love with Birmingham during college. Graduated from Birmingham-Southern College in 2019. Passionate about Birmingham and its continued growth.

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