Naples-based investment fund bites again

A Naples-based investment fund has bitten again.

The Tamiami Angel Fund III — a “Shark Tank”-style investment group — has put its money behind Revibe Technologies, whose flagship product is a wristband that reminds wearers to stay on task in the classroom, in the office or at home.

“As angel investors, we seek out exciting new technologies that make a difference in people’s lives and Revibe’s promising product does just that,” Tim Cartwright, chairman of Naples-based Tamiami Angel Funds, said in a statement.

The benefit of the technology on kids alone could be huge, especially with the prevalence of attention-deficit disorders in children, who already face a world where they are constantly being challenged to multitask, he said.

“The research on the impact of smartphones and the mental development of this generation of young children is not complete yet, but it is a safe bet that they are easily distracted. Revibe offers a simple way to remind kids to stay focused,” Cartwright said.

The company's executives made a pitch to Tamiami Angel Fund investors in March.

More:Tamiami Angel Fund wins big for investors

Technology delivers a quiet vibration

A quiet vibration on the wristband reminds students to get back to work, so they don’t have to rely on teachers or parents for prompts.

The technology can work the same way to keep others on task at work or at home, giving them a nudge in the right direction.

"It doesn't have to be for kids. Certainly, anybody can use it," Cartwright said.

More than 83 percent of students with attention-deficit disorders who used the device showed improvement, and more than 80 percent of teachers and students who have seen how it works would recommend it to others, he said.

"I mean, that's real," Cartwright said. "That's helping families."

In total, members of the Tamiami Angel Fund invested $350,000 in Revibe. It's the sixth company to be added to the fund's portfolio.

“Tamiami’s national reputation allows our fund to syndicate with co-investment partners, providing our members access to deals in some of the hottest startup locations like Research Triangle Park, North Carolina, where Revibe is located,” Cartwright said.

Others invested in Revibe

Other groups that participated in this funding round included Multi-Health Systems, CoFounders Capital, Bootstrap Advisors, BioVenture Partners, Charlotte Angel Fund and RTP Capital.

Rich Brancaccio, a former North Carolina school psychologist, invented the Revibe technology. He is the CEO of Revibe Technologies.

More:Angels invest in local medical device startup

Brancaccio spent most of his career specializing in attention-deficit disorders and autism, creating Revibe as a noninvasive option for kids who are easily distracted. Estimates are that 1 in 5 children in the United States struggles with focus and attention.

“Funds from angel investors at Tamiami Angel Funds will help our quest to leverage technology to empower those who face unique challenges,” Brancaccio said in a statement.

Revibe is for sale online

Revibe's wristband is available for purchase at revibetech.com and Amazon.com. There's a 90-day 100 percent money back guarantee with free shipping and free returns, according to the website.

Over the past year, Revibe received funding from the U.S. Department of Education, the North Carolina Department of Commerce and the Kenan Institute of Engineering. The company is developing technologies that rely on data to improve on-task behavior and productivity for those who struggle to stay focused and attentive in their day-to-day activities.

The company is working on other educational-related products.

Across its three funds, Tamiami Angel Funds has made more than 30 investments in more than 20 companies, totaling more than $12.5 million. Its members are high net worth individuals and families who not only invest in promising startups but also in expanding businesses in the United States, with a preference given to Florida-grown companies.

In case you missed it:Financial tech firm with Naples ties gets boost from angel investors