Fast-growing TurboAppeal gets $3M boost to expand nationally
The aptly named
got off to a fast start last year, raising a $1.5 million seed round and making its first acquisition all within a month of each other. Today, less than a year later, the company got another boost, announcing the close of its next round of funding: $3 million, led by KGC Capital, who was joined by Ned Jannotta Jr. and existing investors Gary Holdren, Hyde Park Venture Partners, and Hyde Park Angels. [Built In Chicago]
ParkWhiz raises massive Series C, announces acquisition of NYC's BestParking
Chicago-based raised a $24 million Series C round of funding this week to “aggressively focus on continued mobile growth.” The round was led by Baird Capital and saw participation from Beringea, a growth capital investor, and Jump Capital, a returning investor. Part of the round will be used to acquire New York City-based BestParking. Terms of that deal were left undisclosed. [Built In Chicago]
WiSTEM graduates its first class
On Monday, the first participants in WiSTEM, 1871’s program for early-stage companies run by female entrepreneurs, graduated in front of a crowd of 200 representatives from the tech community, including investors and community leaders. Eight of the cohort’s 13 participants made pitches to the crowd. [Chicago Tribune: WiSTEM program for female founders graduates first cohort at 1871]
Via continues expansion across Chicago
Since its launch in Chicago last November,
(a New York-based ridesharing service) has seen enough traction to warrant a continued expansion across the city. This week, the company announced they’ve expanded service to Lincoln Park, giving commuters another alternative to driving and public transportation. As part of the expansion, riders north of Division and west of Clark can enjoy 20 percent off rides for the rest of the week.
Origin Ventures to raise $100 million for fourth fund
Origin Ventures, a Chicago-based venture capital firm and early investor in Chicago companies like
, , , , and Eventboard, this week announced it is raising “upwards to $100 million” to establish its fourth fund. The company primarily provides Series A rounds for tech companies most recently raised $47 million in November of 2013. [Chicago Inno: Origin Ventures Is Raising Upwards to $100M for its Fourth Fund]
GrubHub’s new initiatives to increase shareholder value
The board of Chicago-based
, the nation's leader for online and mobile food orders and deliveries, announced a package of new value-enhancing initiatives this week, including a stock repurchase program of up to $100 million and the approval for GrubHub’s management to consider entering into a credit facility of up to $200 million. The initiatives were released alongside Q4 2015 results. [Read more here]
MATTER to collaborate with Abbott to bolster healthcare innovation
This week, Merchandise Mart-based
unveiled a collaboration with global healthcare company Abbott to spur innovation in healthcare. Together, the companies will work to fuel the development of tech that improves from health and healthcare. Abbott is one of MATTER’s eight platinum-level partners from various corners of the healthcare industry.
Illinois VC funds to get $220M infusion from government to grow tech sector
Illinois venture funds will soon see a $220 million infusion from the State of Illinois, Treasurer Michael Frerichs said at a conference at 1871 Tuesday morning. That’s the aim of the Illinois Growth and Innovation Fund, which will divvy up the capital amount in as many as 20 venture funds with the end-goal of charging the state’s growing (but still young) tech sector with enough money to continue bolstering revenue and creating jobs. [Built In Chicago]
Techstars Chicago 2016 applications are open: Here's what you need to know
Mark your calendars, techies. Applications for this summer’s
class officially opened Monday, and you’ve got until March 20 to get your ducks (and decks) in line in time for consideration. “Each year, the classes have gotten better and better,” said Troy Henikoff, managing director of Techstars Chicago. “The bar has been raised, and we want to do even better this year.” [Built In Chicago]
Blitsy raises $6.2M from media powerhouse
, the Chicago-based online DIY destination, announced it has raised $6.2 million in a series B round led by German media group Hubert Burda Media. Hubert Burda Media is one of Germany’s largest media groups with a portfolio of over 400 print and digital brands worldwide including National Geographic, Elle, Esquire and Playboy. The funding will be used to grow Blitsy into a global player in the arts and crafts retail space. [Built In Chicago]
ReviewTrackers to move offices, grow staff from 30 to 90 this year
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