Tamiami Angel Funds Invests in Security Software Firm
NAPLES, Fla., — Angel investors from Southwest Florida recently provided capital to Circadian Risk to help the company expand its digital platform for assessing, analyzing and monitoring physical security risks in large organizations.
Members of Tamiami Angel Fund IV invested $565,000 in Circadian Risk, the 16th portfolio company in Tamiami Angel Fund IV. The Ann Arbor, Mich.-based company created software to help companies secure physical assets such as office buildings, schools and stores and keep people safe.
Specifically, Circadian’s software allows companies to assess and monitor risks ranging from active shooters to arson, espionage, explosives, vandalism and workplace violence. The software uses a logical, score-based approach to generate interactive dashboards and visualizations updated in near-real time so organizations can improve and maintain security for their people and physical assets.
“Organizations have accepted the fact that they need to look at their cyber risk on a 24/7 basis. But when you look at the types of scenarios from a physical-risk perspective, they could be more catastrophic than cyber risk,” says longtime security expert Michael Martin, CEO and founder of Circadian Risk.
Prior to Circadian’s software rollout last year, there were no easy tools to assess and monitor physical risks in multiple locations. Today, large enterprises across industries ranging from finance to education, health care and retail have started using the firm’s software to manage physical risks in different locations on a near-real-time basis.
“The scoring system Circadian Risk has developed can now be adopted by property and casualty insurers to rate physical risk, thus benefiting companies that take proactive steps to manage these risks,” notes Timothy Cartwright, partner of Fifth Avenue Family Office and chairman of Tamiami Angel Funds in Naples. “To that end, we’re excited to have insurance veteran Phil Feldman as Tamiami Angel Funds’ representative on Circadian’s board.”
Naples-based Tamiami Angel Funds are member-managed funds that allow high-net-worth individuals and families to invest in promising early stage and expansion-stage companies located in the U.S., with a preference to those in the state of Florida. For more information about Tamiami Angel Funds, visit www.tamiamiangels.com. For more information about Circadian Risk, visit www.circadianrisk.com.
About Tamiami Angel Funds
Tamiami Angel Fund I, Tamiami Angel Fund II, Tamiami Angel Fund III, Tamiami Angel Fund IV, and Tamiami Angel Fund V are member-managed funds that allow high-net-worth individuals and families to invest in promising early stage and expansion-stage companies located in the U.S., with a preference to those in the state of Florida. Fifth Avenue Family Office, the administrator of the angel funds, caters their multi-family office services to high-net-worth entrepreneurs and their families. The funds are members of the Angel Capital Association and the Florida Venture Forum. For more information, visit www.tamiamiangels.com.
