The Institute for Commercialization of Florida Technology (Florida Institute) announced today that it has helped Yac Media, Inc. to raise funds in excess of $1.5 Million. Yac, an Orlando-based technology company, is currently developing one of the most efficient communication platforms for remote work teams. The Florida Institute collaborates with corporate, academic, and investment partners to drive innovation-based economic development across the State of Florida.
This cooperation started during a global unprecedented health crisis caused by the COVID-19 outbreak, where various industries found themselves facing increased challenges. In the midst of these challenging times, Yac launched its new remote work tool, offering teams an alternative to typing or calling teammates each time they need to collaborate. Yac can be vital for organizations who work on different time zones that cannot get on calls but still need to voice their ideas with clarity.
"Many people are working remotely for the first time, which means they have been trying all the tools that people have been using for almost a decade now those are not built for an entire organization working remote," said Hunter McKinley, Yac, CMO. "Our product has always been built with a small team in mind trying to replicate all the nuanced details an office environment has for your team. Still, you have the ability to scale up to a couple thousand people when necessary."
About the Florida Institute
Formed by the Florida Legislature in 2007, the Institute for Commercialization of Florida Technology supports and funds innovation companies that create clean jobs in new industries that are driving the global economy. The Institute provides company building services, and seed funding through the Florida Technology Seed Capital Fund, to promising Florida startups that are developing products that improve and save lives while helping companies improve their bottom line. The Institute's economic impact between 2011 and 2019 was $1.9 billion, with an annual return on investment of 31 times to the State of Florida.
About Yac